Looking at the sizes of today's trades, it is apparent that one or two "Mum & Dad" investors are panicking, can't blame them as they do not understand why the Share-price has dropped so far and fast. In one word the reason is "Manipulation"
There is
NO fundamental reason for this retraction,
ALL of the metrics behind Longonjo are still as good as they were three months ago, In fact there is plenty of evidence that they have improved considerably. Our BOD has dropped more than sufficient "Hints" that they intend to proceed with a Processing plant in the UK and that their Scientists have come up with a Revolutionary process that will greatly enhance the extraction of NdPr from the Ore. Further this "Process" will not only be more efficient but it will also be simpler and cheaper and if I have guessed correctly it will enable the Longonjo plant to be built a lot quicker than originally stated. Yes we have to wait for the "Patents" before details can be released but again I suspect the wait will be well worth it.
The Pre Feasibility Study used Roskill's price projections for NdPr to calculate the financial returns under three scenarios, Low, Base and High, Those predictions have the prices of NdPr at Low US$58,000, Base US$70,000 and High US$82,500 /t by END of 2020. Monday's prices for Nd US$82,700 and Pr US$72,850/t on the New York Exchange would indicate that we are well ahead of the High projection.
Now whether or not these price rises are in response to China's threatened Embargo or just simply growth in Demand beginning to take effect, the fact is that Demand must grow sooner rather than later to produce all those EV's and Wind Turbines already being planned, and that China has now realized it has control of RE prices for at least the next five years ~ play both cards at once and REE Prices will become Astronomical !
So the question is why the "Manipulation" ? Broker Greed, Geo-political Shenanigans, Existing producer trying to kill off Competition, Luddites (Big Oil, Saudi/US) trying to delay the inevitable; Or any combination of similar vested interest. What matters is that they are Trying, and not just with Pensana, almost every other wannabee RE explorer is being hammered at a time they should be soaring; Pensana is suffering the worst because it is possibly at the head of the Pack and will potentially be the biggest producer of NdPr for several years to come. Whatever their reason, take heart that somebody is so interested in Pensana and its Rare Earths as to spend a lot of money in attacking our SP/MC.in an effort to derail Longonjo.
Our Grandchildren deserve to inherit a World that they can live in, the "Green Revolution" goes a long way to achieving that, so please think twice before letting a bunch of paid Trolls panic you into selling your shares.
