Pensana (PRE) - Confident Funding is Imminent

Interview with Paul Atherley, Chairman of Pensana (LSE: PRE)
Our previous interview: • Pensana (PRE) - Vying ...
Recording date: 4th October 2022
Pensana Plc is a United Kingdom-based rare earth exploration and development company. The Company’s flagship assets are the Saltend rare earth refinery project in the United Kingdom (UK) and Longonjo neodymium and praseodymium (NdPr) Project in Angola. Saltend is an independent, sustainable supplier of the magnet metal oxides to a market which is dominated by China.
0:00 - Company Overview
0:45 - Company Updates
2:25 - Plans in Advancing the Company
4:03 - Showing Technical Ability to Deliver in the MOU Offtake Deal
5:56 - “Mysterious” MOU Partner
6:41 - Defining a “Climate Neutral” Car
7:13 - Collaboration with Polestar
8:09 - UK Government’s Support to the Company
10:35 - Overview of the Expected Time Frame for Angola Operation
11:27 - Completely Funded for Saltend Operation
12:24 | 15:08 - Timeframe of Saltend Operation
14:07 - Focus on the Saltend Operation
16:15 - Possible Sources of Funding
17:51 - Expected Timeframe for the Funding
18:42 - Overview of the Saltend Operation
20:05 - Confidence Placed upon the Company by their Financiers
22:10 - Demonstrating Potential and Feasibility to the Market and Bankers
23:29 - Expected Headlines in the Near Future
24:02 - Outro
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[@rareearthsinvestor9802]

Thanks for the probing interview. Still not clear as to the specific funding. Green bonds are being pursued for the UK sites but hit by present bond market troubles(?). Then apparently, the UK gov's recent strategic funding announcement was not significant (the reason no numbers have been given?). Mine funding for the African-based mine is coming from where (just the UK? what about Angola?) and how much? A lot of elements on the move with Pensana and with various timelines suggested, but still, more specific funding details and realistic timelines are needed to match all the claims. GLTA - REI

[@eoinmurphy572]

So, it’s 3 months later and I’m still waiting for evidence of progress on the Saltend construction. That picture with Kwasi Kwarteng and a digger in the background, way back last year seems very premature now… The comment by Rare Earths Invester is ageing very well!
Would be great if you could get Paul Atherley back to give us an update.

[@eoinmurphy572]

Thanks for the great questions Matt. I’m a shareholder in Pensana, so that answered a lot of questions for me. 👍. They are looking good so far!

[@James-st9uu]

Taken from its website in April 2023:
As reported the Company is at an advanced stage in its financing of both the Saltend rare earth separation
facility in the UK and the Longonjo mine in Angola. The total capital requirement is US$550 million.
Both projects are fully permitted, with FEED studies complete and early works programmes well underway
on each site led by highly experienced project delivery teams.
The Company has been engaged with three parties to provide the required funding; namely the previously
announced US$175 million bond issue being arranged by ABG Sundal Collier, for which the Company has
received green bond accreditation from CICERO rating agency, a $220 million strategic equity investor which
is before its investment committee and a $150 million debt package being arranged by a South African bank.
Project D

[@ilovedraw]

Extremely smart guy , great high grade deposit.. but failed to mention how to handle the U/Th le
vels in the concentrate..

[@shakenbake1869]

450m USD post tax pa and a conservative PE ratio of 5, equates to a shareprice of $9 USD (250million shares). Not bad considering we're at 60cents!

[@spsallidas]

That's a very very conservative p/e! 8-10 is more likely, maybe more given that it's not just a mine, it's a fully vertically-integrated mine and complete industrial processing company (the processing plant can be used for ores from anywhere too). P/E 10 easy IMO