Pensana raises $5m for Longonjo PFS
ASX-listed Pensana Metals, which plans to also list on the LSE later this year, has raised $5-million through the private placement of 250-million shares at $0.02 a share.
The funds will be spent on the prefeasibility study into the development of its Longonjo neodymium/praseodymium (NdPr) project, in Angola.
“The strong institutional support reflects the interest in rare earths as an exposure to the electric vehicle sector and our ambition to capitalise on Longonjo’s grade and infrastructure advantages to become the world’s next major supplier to this critical sector,” Pensana CEO Tim George said on Tuesday.
The Longonjo project is located near rail, power and port infrastructure, which Pensana says will reduce the project's capital cost and timeline to production.
The company last month reported that drilling at Longonjo had returned some of the highest-grade NdPr mineralisation ever encountered at the project.
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