Angolan wealth fund invests further $8.6m in Pensana
Angolan sovereign wealth fund Fundo Soberano de Angola (FSDEA) has committed to a further $8.6-million equity investment in junior miner Pensana Rare Earths.
The investment will be used to advance the Longonjo project, in Angola, as the first major rare earth mine to be developed in over a decade and to provide general working capital.
The fund has agreed to subscribe for a further 13.5-million ordinary shares to be issued at 0.5021p (A$0.91) a share, conditional upon admission of those shares to the official list and to the LSE’s main market for listed securities.
The subscription will raise gross proceeds of about $8.6-million, and admission is expected to occur on October 1.
Application will also be made for the admission of these shares to the ASX, which is expected to occur on October 2.
Following this issue, the company’s issued share capital will consist of over 203-million ordinary shares.
The investment follows the FSDEA’s earlier investments in the company in March and June this year, and will increase the fund’s equity holding in Pensana from 17.7% to 23.1%.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation