4th Feb 2026 13:37
Pensana PLC - London-based developer focused on developing a mine-to-magnet rare earth supply chain - Says the final tranche of USD25 million financing has been received by subsidiary Ozango Minerais SA as part of the Longonjo mine finance. Back in May, Pensana reported a USD25 million equity tranche would be deployed into Ozango by the Angolan Sovereign Wealth Fund. Says the financing has been received and is currently being fully deployed towards the Longonjo main construction workstreams. Owing to the receipt of funds, Pensana says its stake in Ozango should fall to 68.4% from 84%. Adds that the effective ownership is expected to face further change as a result of the USD100 million strategic investment announced in December. "Pensana's ownership is expected to increase and this will be communicated to the market accordingly in due course," the company says.
Current stock price: 103.50 pence, up 0.5% on Wednesday afternoon in London
12-month change: Multiplied from 25.30 pence
By Christopher Ward, Alliance News reporter
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