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Pensana a rare investment opportunity to gain direct exposure to the biggest energy transition in history
Chairman Paul Atherley highlighted the progress the company is making in financing one of the world’s largest undeveloped rare earth mines; one of only three with a JORC Reserve greater than 100,000 tonnes of NdPr.
Longonjo will support the demand growth for magnet metal NdPr estimated at 7.5% CAGR over the next decade from EVs and Wind Turbines.
The Longonjo financing is being worked on by FSDEA, ABSA and African multilateral agencies for the revised upfront US$200 million capital requirement.
Once in full production, following the proposed US$100 million expansion in year three, Longonjo will produce ~5% of the world production of NdPr.
The initial Longonjo development supports the fully permitted US$250 million downstream separation facility at the Saltend Chemicals Park in the Humber Freeport.
Paul Atherley, Pensana Chairman, commented: “The team has made great progress with the re-engineering of Longonjo to an upfront capex of US$200 million, achieving one of the lowest capital costs for a rare earth project globally, which puts us in a strong position to be able to announce the funding arrangements towards the end of January.”
The the SP drops about 8% - more fluff from the king of fluff comments!
Highly predictable AS, the hole purpose of your comments is to demonstrate your inferior intelligence by down-ramping after the event, how sad your life must be ! But I guess you are only trying to impress the Village Idiot with your hindsight. Why don't you should follow Dumbo's recommendations on RBW, I guarantee they will not disappoint your need to have a whinge !
At least the Theologist had an agenda, no matter how perverse his Shylock masters final solution may be ! I do hope that he survives the Pogrom while scouting out locations for a Golf course on the West Bank.
Well looks like Iluka has brought reality back ,,, They are called Rare Earths for a reason. Found everywhere but rarely commercial. Get busy tampers. Polish this one
This?
Iluka Resources revealed on Friday that Western Australia’s Eneabba refinery was now expected to cost somewhere between $1.5 billion and $1.8 billion and would produce its first separated rare earth oxides in 2026 rather than 2025.
The cost of the project was originally forecast to be between $1 billion and $1.2 billion when Iluka took a final investment decision in April 2022.
Still here SmartPunter - i see you are breathlessly ramping Rainbow again today and yet still find time to post here.
You have mentioned the fact that your Chairman Zero is bailing out just as concerns grow about the viability of the K Tech process.
China old boy, I wondered where you had got to! Did you know that there is one 18 hole course in Israel? I was going to Google it but decided just to ask my Shylock masters (where on earth do you find this rcap?!). I can see that darling Paul is still leading you and your Alkemy chums a merry dance. Jam tomorrow or tomorrow, did I say tomorrow? As he picks up his $50k a month. Due diligence of course. A very lengthy process. So January is the date now when the plug and play $200m Longonjo will be funded and unleashed. Or could it be February? Or March? 2024? Or 2025? There’s a lot of pigs at the trough now, guess cash will be a problem soon, how many $10 millions do the Angolans have??
Theo - Back to your mischievous ways as usual , No need to worry about Pensana operating funds for at least the next 18 months , As PRE has full support from major shareholders , One would think you would be more concerned in retrieving your funds from the resent debilitating events over at HZM , Guess you can put that one down to just bad luck on your part.
M&G, which is one of the UK’s leading investment institutions and Fundo Soberano de Angola
(“FSDEA”), which is the Angolan Sovereign Wealth Fund, remain strongly supportive of the Company and its business plan and have each requested and been granted the right to participate in any future equity or other fund raising undertaken by the Company on a pro rata basis for the next two years.
https://pensana.co.uk/wp-content/uploads/2023/04/RNS-Issue-of-Shares-to-M-G-and-FSDEA-_28-April-2023.pdf
Its a great shame Theo that your beloved Horizonte wasn't as diligent as Pensana appears to be.
It appears that HZM shareholders are going to be wiped out.
Keen to hear from you, as a seasoned London analyst, how you missed the Capex blowout which i hear is now heading towards US$1 billion!!
And to think some folks were outraged at my posts regarding the failure of the Angolans to remove serial failure the world's greatest from PRE! ChinaSyn's post this morning was out and out despicable and I am pleased to see that admin had the good sense to remove it:)
3 months to go where my prediction will be fulfilled re nothing changing here come March 2024. No funding while the world's greatest is allowed by the Angolans to continue drawing a fat salary.
I am over the moon. MP has successfully onshore rare earth processing in the US and not far away from establishing a magnet manufacturing business, thereby closing the supply loop. What has the world's greatest done over the same time period aside from endless, fruitless talking while enriching himself?!!
Not quite correct ET. MP has spent the best part of US$2 billion and is still exporting concentrates to China as far as I recall!
So what is your prediction for PRE for March 2024?