George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
An excellent appraisal Lizard and the update regarding the FDSEA repayment is corroborative of your view that funding will coincide with the draw downs required to meet the construction timeline. Surely, no justifiable argument to the contrary !!!
Https://www.kallanish.com/en/news/power-materials/market-reports/article-details/pensana-welcomes-trafiguras-lobito-corridor-investment-0723/
UK-based rare earth developer Pensana expects its Angolan mining operation to benefit from the recently announced $555 million investment in the Lobito Rail Corridor, Kallanish reports.
A Trafigura-led consortium – Lobito Atlantic Railway – has been awarded a 30-year concession to operate the rail infrastructure corridor that runs around 1,300 kilometres. The line connects the Lobito port to Luau, in eastern Angola, close to the border of the Democratic Republic of the Congo (DRC). The Lobito railway extends across Angola and then continues for 400 km into the DRC to Kolwezi, the heart of the Copperbelt.
The consortium JV partners, which include Mota-Engil and Vecturis, plan to invest $455m in Angola and up to $100m in the DRC. There is also scope for future investment into an extension to Zambia. According to Trafigura, the railway will provide an alternative to east African ports where long delays and bottlenecks are “commonplace” and provide the “fastest export and import route from the region to Europe and the Americas.”
The rail infrastructure also offers the shortest and most direct route to port from the key mining district of Kolwezi, DRC, where exports of copper, cobalt and critical raw materials.
Commenting on the announcement, Pensana ceo Tim George said it was “perfect timing” for the investment in rail infrastructure. “It’s expected to have a very positive impact on the transport logistics during the Longonjo construction period and on the reagent and product transport during operations,” he says in a note.
The Longonjo mine in Angola is planned to produce 38,000 tonnes/year of mixed rare earth sulphate, containing 14,000 t of total rare earth oxides and 4,400 t of neodymium-praseodymium oxide. This production will be processed in the UK, targeting western permanent magnet demand from electric vehicle and wind turbine manufacturers.
Pensana expects to start main construction at Longonjo this year, with first production planned for 2025. The direct access to the Lobito Corridor rail and port infrastructure will enable the company to ship feedstock to Europe, unlocking the potential of one of the world’s largest undeveloped rare earth projects.
Pensana's Longonjo mine, the pet project of the Angolan President, is anticipated to be presented to Mining Indaba fully funded with support from the Angolan Government, the Angolan Sovereign Wealth Fund, ABSA Bank and the African Development Bank. Terms Sheets will be presented for sign off to their respective Boards on completion of the 2 sets of DD running independently. One of the consultants engaged in the DD process was previously engaged to conduct DD for the mooted strategic partnership for the enlarged production facility, that did not proceed. The level of the opportunity for the US Government to engage with Pensana to action further development of Pensana's assets, is the subject of ongoing discussions with relevant parties including the UK Government, to what extent, is yet to be revealed!
well, he (Dumbpunter ) actually had no choice given the alleged claims of Chinese manipulation and the rumored MI6 investigation imminent, he chose to distance himself and come clean albeit without an apology but a continued grip similar to those gripes expressed by our Mr Theo/Thomas/ ex ''Investment Banker'' Theorist! Well, I would not blame you Theo if your to do likewise! Now you have several more reasons to leave, surely you will do so before the finance for Saltend is announced? :))
Councillors approve plans for £150m rare earth refinery on banks of the Humber | Yorkshire Post
https://www.yorkshirepost.co.uk/news/councillors-approve-plans-for-ps150m-rare-earth-refinery-on-banks-of-the-humber-3710814
MJM3 what's Theorist's evidence, well your own half witted
posts and, Theorist, do me a favour and take MJM3 by the hand and you both take a flying leap ?? The ATF maybe inconsequential to you but it is essentially part of the ESG certification requisite in the scheme of things especially for the 'Greener than Green Bonds' issuance.
Should you both behave, then I may well thinking of you as I toast your ignorance at our forthcoming celebrations ?? turning soil with our golden spades ??
Monkey See, Monkey Do is a saying that originated in Jamaica in the early 18th century and popped up in American culture in the early 1920s. The saying refers to learning something by mimicry, without understanding why it works or concerned about the consequences.
Eloro forgot to mention, the opportunity to present PRE to investors in the US, especially worthwhile given a peer group valuation / comparison with Mountain Pass will be supported by the FEED, due shortly. No doubt, US investors like what they see in MP!!!
Eloro webinar a good opportunity to engage with shareholders, especially the day after the AGM notice & resolutions are scheduled to be circulated to shareholders. No glass half full when time for funding, a jug full, more likely :)