Recent content by Ian Brown

Good Morning John the UK Government have got far more PR out of Pensana, In return Pensana has had platitudes and nothing else. To the contrary without Angolan government support (via the FSDEA (sovereign wealth and largest investor), the Funding would not be where it is. The comments about not...

Hi regarding possible reasons for perceived, or should we so lo valuation compare dot other at the same level of development, SR, a friend and Fellow investor in Pensana made the following comment regarding the stratospheric rise of Mkango over the last week, i think he makes some very valid...

im not far from you John, although there are numbers you can use rather than those you have input, For instance the CAPEX for stage one is stated, (And has been as early as February this year as 217 million including 10% contingency), However for the sake of not trying to massage the numbers...

The page was posted this week (mid-late June 2025), aligning almost exactly with: The MOU announcement between Pensana and RE Element Technologies Growing signals of U.S. institutional interest behind the scenes 📌 What it says: $3.4M technical assistance grant to support feasibility for both...

trumps statement is optics, there is nothing of any substance in the statement. Distilled down the agreement (if that is what it is, its not even a heads of agreement or an MOU) The outcome of the latest U.S.–China talks signals a temporary de-escalation, but no formal structural changes have...

i think we are on the same page

Thanks John — great to see you’ve run this through ChatGPT as well. Feels like we’re having a structured debate with ourselves, but in the best possible way — focused on the mechanics, not the noise. I think we’re broadly aligned on the idea of a 10,000t NdPr oxide reserve for national...

Just throwing this out there — a fag packet idea, but one worth exploring further: The Australian government has proposed a rare earth strategic stockpile for national security purposes. But producers have raised valid concerns: – It could distort market pricing and crowd out industrial buyers...

the NdPr is market is incredibly opaque, with the exception of the SMM spot market price, it is very difficult to get an idea of the actual market price. Argus and a couple of others try to come up with something but it isnt reliable. Note also needs to be made of the liquidity ( or lack there...

Going back to Arafura, i cant comment as its not a project i know I’ve lived and breathed pensana for the last 5 years (as i think you can tell), however, it seams that no Rare earth project is going to take off, if the west relies on western capital markets alone.

After the strategic investor pulled out in March 2023 (widely understood to be Sibanye Stillwater, though never officially confirmed), Pensana came dangerously close to collapse. As part of those negotiations, Sibanye had insisted on an exclusivity clause, preventing the company from exploring...

John, the only reason Pensana got financed was because it done by African institutions, all the western capital markets did was use Pensana share holders as liquidity fodder to generate volatility to trade on. As means of price discovery, it was complete waste of time. institutions looking for...

How did Pensana manage to begin construction without offtake or fully committed finance? The initial financing strategy was outlined in a June 2023 RNS, targeting $120 million in debt and $80 million in equityfor Longonjo’s Phase 1 development. A $15 million bridging loan from FSDEA was also...

i had some help but Assessing Sovereign Risk in Angola: A Nuanced View for Mining and Energy Investors Sovereign risk in Angola is a legitimate consideration, especially for those familiar with its past under President José Eduardo dos Santos. This was a period defined by opaque governance...

great idea, but you can only do that once, if at all. one of the reasons for the delay is that exporters need to ensure end of use certificates are guaranteed by the receiver., As with any export controls, before a subsequent permit is issues, the end of use certificate for the previous one...