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Pin to quick picksPensana Plc Share News (PRE)

Share Price Information for Pensana Plc (PRE)

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Share Price: 24.70
Bid: 24.70
Ask: 25.40
Change: -0.75 (-2.95%)
Spread: 0.70 (2.834%)
Open: 25.00
High: 25.00
Low: 24.70
Prev. Close: 25.45
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TRADING UPDATES: Gran Tierra completes offers, Pensana wins grant

Wed, 25th Oct 2023 21:55

(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:

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Gran Tierra Energy Inc - Colombia and Ecuador-focused oil and gas exploration and production company - Says it has issued new 9.500% senior secured amortising notes, due in 2029 and worth USD487.6 million. Issuance forms part of Gran Tierra's previously announced offers to exchange its 6.250% senior notes due 2025 and 7.750% notes due in 2027. Chief Executive Officer Gary Guidry says due to "successful completion" of offers, "[its] balance sheet is now stronger due to an improved amortisation schedule, less restrictive conditions, and overall reduced leverage."

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Pensana PLC - London-based rare earths explorer - Says Secretary of State for Business & Trade has offered it a grant of up to GBP4.0 million, to help Pensana raise the necessary funding to build a rare earth oxide separation facility in the ‘Humber Freeport’ at the USD250 million Saltend project, a rare earth separation facility in England. Pensana expects to provide a funding, activities and deliverables plan "in the coming weeks". Chair Paul Atherley says developing Saltend "would be an important step in supporting the UK automotive supply chain...as it transitions to electric vehicles".

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Arix Bioscience PLC - London-based venture capital firm investing in "breakthrough" biotechnology companies - Says "core" portfolio company Harpoon Therapeutics has entered a securities purchase agreement for a private placement in public equity financing, expected to bring upfront gross proceeds of around USD100 million. San Francisco-based Harpoon, a clinical stage immunotherapy developer, expects further gross proceeds of approximately USD50 million upon cash exercise of warrants. Financing was led by a "leading biotechnology investor associated with one of the largest alternative asset managers". Arix says its holding value will continue to be determined by the market price of Harpoon's shares. Harpoon will use the proceeds to fund its clinical development programmes, including ongoing and future clinical studies of HPN328.

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AltynGold PLC - London-based operator of the Sekisovskoye gold mine in Kazakhstan - Production in the third quarter of 2023 "expanded significantly" to reach an annualised level of 744 kilotonnes per year and a 41.8% growth rate year-on-year. Delivered USD17.9 million in revenue, up from USD14.8 million in the third quarter of 2022.

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By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
19 Apr 2024 11:35

IN BRIEF: Pensana reports discussions for USD15 million loan extension

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."

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11 Mar 2024 14:07

IN BRIEF: Pensana receives positive results from Coola, Sulima surveys

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.

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4 Mar 2024 21:13

IN BRIEF: Pensana touts sound progress for Longonjo project

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.

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26 Feb 2024 10:58

Pensana up after inking USD156 million Longonjo finance debt facility

(Alliance News) - Shares in Pensana PLC rose on Monday, after securing a new debt finance facility for its flagship Longonjo project.

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7 Feb 2024 10:39

TRADING UPDATES: Inteligo stock enters US market, Kenmare gets new RCF

(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:

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24 Jan 2024 17:22

EARNINGS AND TRADING: Gran Tierra ups production, "excited" for 2024

(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:

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15 Jan 2024 11:30

FSDEA "very satisfied" with progress at Pensana's Longonjo site

(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.

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3 Jan 2024 09:05

Pensana notes progress in development of Longonjo mine in Angola

(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.

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20 Nov 2023 16:24

Pensana signs letter of intent for magnet metal site in Yorkshire

(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.

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16 Oct 2023 14:00

Pensana meets with UK Minister of State for Industry Nusrat Ghani

(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.

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20 Sep 2023 21:11

IN BRIEF: Pensana wins UK grant to develop low carbon resupply chain

Pensana PLC - rare earths explorer - Receives GBP316,643 in grant funding by Innovate UK under its CLIMATES programme. Pensana works in partnership with Polestar, Route2 and the universities of Leeds and Hull to develop a low carbon sustainable supply chain for rare earth magnets. The project is backed by the UK government. "Rare earth elements underpin so much of what makes everyday life and work possible, from the cars we drive to the phones we use. It is essential that, in a rapidly changing world, we do all we can to ensure resilient supplies of these and other critical minerals. We are laser-focused on securing robust supply chains, for the growing, green industries that will deliver jobs and prosperity across the UK in the decades to come," says Nusrat Ghani, minister of state at the Department for Business & Trade.

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29 Aug 2023 18:29

IN BRIEF: Pensana hails rock geochemistry results in Angola

Pensana PLC - rare earths explorer - Finds 22% phosphorus pentoxide, around 27% calcium oxide and 41% ferric oxide and 0.7% total rare earth oxide at Sulima West of Coola exploration license in Angola. Further, notes sampling with an area of about 15 hectares of over 2% total rare earth oxide in soils with a core zone of high-grade soils reporting over 4% total rare earth oxide. Exploration Manager Grant Hayward says: "We are extremely happy with the results of the soil sampling over Sulima West which identified an area of roughly 15 hectares with greater than 2% TREO in soils."

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21 Aug 2023 10:42

Pensana's Longonjo project re-engineering advances on schedule

(Alliance News) - Pensana PLC on Monday said re-engineering work at its Longonjo rare earth mine is progressing as planned.

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27 Jun 2023 21:11

IN BRIEF: Pensana strikes Longonjo funding agreements

Pensana PLC - rare earths explorer - Outlines new plan which will reduce capital expenditure at Longonjo asset to USD105 million from USD200 million. Major shareholder FSDEA to provide immediate USD15 million loan facility, which forms part of a broader USD80 million investment. Funding will go towards development of mine. Absa Bank, meanwhile, will arrange USD120 million project debt facility. "We are delighted with the ongoing support from the government of Angola, FSDEA, Absa and others for the development of this important project. Longonjo is one of the world's largest undeveloped rare earth projects which benefits from a high-grade near surface orebody, with low-cost hydroelectricity and direct access to the Lobito Corridor rail and port infrastructure," Chair Paul Atherley says. Mine will employ around 650 people during construction and will create 420 permanent high value jobs, Pensana adds.

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