(Alliance News) - Pensana PLC on Wednesday announced an upgraded ore reserve estimate and engineering update for its Longonjo rare earth project in Angola, describing it as one of the largest and highest-grade undeveloped magnet metal projects in the world. Read More
Pensana PLC - London-based rare earths explorer - reports USD2.9 million loss for the six months ended December 31, narrowed from a USD3.5 million loss the year before. Company is non-revenue generating but administration expenses decreased 26% on-year to USD2.5 million from USD3.5 million. Cash & equivalents total USD40,133 as of December 31, down 97% from USD1.5 million at June 30. Says early construction activities at the Longonjo rare earth project in Angola continued during the period. Also notes that that in March it received approvals for full financing worth around USD268 million. "The approval for main financing is a key milestone and now allows for the full commencement of main construction activities at Longonjo," Pensana says. The debt funding comprises about 60% of Longonjo's phase 1 project funding, and includes participation by Africa Finance Corp of USD81.2 million and by ABSA Bank Ltd of USD78.8 million. Company also notes that it has access to a GBP3.0 million term loan facility and GBP1.72 million available under a directors' loan facility, so does not require immediate funding to provide working capital. Read More
(Alliance News) - Pensana PLC on Tuesday announced it has secured full financing approvals for its Longonjo rare earth project in Angola, with total funding commitments reaching approximately USD268 million. Read More
(Alliance News) - European stocks were in the green at midday on Tuesday, with risk appetite "tentatively returning" ahead of a slew of central bank decisions later this week. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday. Read More
Pensana PLC - London-based rare earths explorer - Chair Paul Atherley purchases 275,000 shares in the range of GBP0.279 to GBP0.294 on Thursday for an aggregate price of GBP78,066.50. Read More
(Correcting that Pensana is listed on the Main Market, not AIM.) Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
Pensana PLC - rare metals exploration company focused on its magnet metals projects in Angola - Reports discussions regarding extension of USD15 million loan facility. Says the loan will coincide with the anticipated finalisation of the main financing. Add that loan will "enable the funding of capital expenditure, working capital and operating expenditure at the Longonjo project." Read More
Pensana PLC - rare metals exploration company focused on its magnet metals projects in Angola - Says that geophysical surveys conducted at its Coola and Sulima West exploration programmes in Angola in late 2023 revealed promising anomalies. Testing at Coola, in which Pensana holds a 90% interest, confirmed a 900 metre-diameter carbonatite ring dyke with a similar scale to the company's flagship Longonjo project. Sumila West showed "strong anomalies" of high-grade total rare earth oxide mineralisation. Pensana says that samples from both projects will be tested before being trucked to Longonjo for processing. Read More
Pensana PLC - magnet metal exploration company, whose subsidiary Ozango Minerais SA owns 100% of the Longonjo rare earth project in western Angola - Updating on the Longonjo project, says concrete foundations have been poured for the 316-person modular camp manufactured in South Africa that is set to despatch later in March. Adds that the on-site team is making good progress with preparatory works ahead of main construction anticipated in May this year, with cold commissioning to start in August 2025. It expects final commissioning in April 2026. Further, Pensana says that an order has been placed with NCP International, a global supplier of new and refurbished comminution equipment based in South Africa, for the USD2.3 million ball mill for delivery from Johannesburg to meet the construction and commissioning timelines for the concentrator plant. Read More
(Alliance News) - Shares in Pensana PLC rose on Monday, after securing a new debt finance facility for its flagship Longonjo project. Read More
(Alliance News) - The following is a round-up of trading updates for London-listed companies, issued on Monday, Tuesday and Wednesday, and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - Pensana PLC on Monday said the Angolan sovereign wealth fund was "very satisfied" with the construction progress of its Longonjo project following a site visit last week. Read More
(Alliance News) - Pensana PLC on Wednesday updated on construction activities at its Longonjo rare earth mine site in Angola, citing civil works for the camp, as well as the rehabilitation of the access road to the railway station near the mine. Read More
(Alliance News) - Pensana PLC on Monday said it signed a letter of intent for the site of a future permanent magnet metal facility within Yorkshire Energy Park. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - Pensana PLC on Monday said that Chair Paul Atherley met with Nusrat Ghani, the UK's minister of state at the Department for Business & Trade. Read More