The case for Pensana is magnetic

The Chinese have a dominant position in the supply of rare earths but their position is difficult to assess since the big unknown is the lunatic Trump. However, he has not got round to interfering pointlessly with the production of the essentials to magnets which are going to be with us for many years. Pensana (PRE)'s operations are now based in Angola and financed by the Angolan Sovereign Wealth Fund, M and G London and founding chairman Paul Atherley.

There is a note circulating which considers what might be happening right now and in due course. It is fairly attractive, to put it mildly.

If there is risk it arises on the assumption that Angola will prove a responsible background for external financiers. It might and therefore one understands the target price suggested by PRE's internal note of 262p.

*****

If any reader would care to discuss the development of their own portfolio do not hesitate to contact me on 020 7835 0868. I offer investment sessions here at my home on a one to one basis.