Member Info for TheGreekLizard

This was posted a few months back and recently came across, head of ABSA coverage principle speaking about looking at mineral and metals financing " RARE EATHS" in Africa they are excited about.

ABSA bank of South Africa has been mandated as lead arranger for a US$120 million loan facility, which is expected to include export credit guarantees from ECIC and debt participation from a pan-African multilateral.

https://www.youtube.com/watch?v=O77voL6c4JI

Angolan sovereign wealth fund Fundo Soberano de Angola (FSDEA) is “delighted to see the excellent progress” being made on site, as this is an important project for the entity, FSDEA chairperson Armando Manuel has said.

Pensana Rare Earths and its local subsidiary Ozango Minerais welcomed the full board of FSDEA to Longonjo for a site inspection on January 10. The six members of the board were accompanied by the head of investment and key analysts of the FSDEA.

“[The] FSDEA has financed the acceleration of construction activities to ensure [that] the project maintains momentum while we work with the lender consortium to conclude the main finance,” Manuel has explained.

https://www.miningweekly.com/article/longonjo-neodymiumpraseodymium-project-angola-update-2024-01-19

Update on Longonjo Financing

The Angolan Sovereign Wealth Fund (FSDEA) is funding

construction activities on site via a US$15 million loan, ensuring

project momentum.

FSDEA and a pan-African multilateral Development organisation

have indicated that they will provide US$80 million in equity at

the Ozango subsidiary level.

ABSA bank of South Africa has been mandated as lead arranger

for a US$120 million loan facility, which is expected to include

export credit guarantees from ECIC and debt participation from

a pan-African multilateral.

High level commercial debt and equity terms at the Ozango level

have been provided with all parties now working towards

completion.

One of the only mine developers to offer a

high value, radionuclide-free product

available for export.

Executed letter of intent for the offtake of

100% of stage 1 production from Longonjo.

Sample qualification underway which will

lead to finalised agreements in Q1 2024.

Nusrat Ghani, Minister of State at the Department for

Business and Trade and Cabinet Office, highlighted that the

Saltend project would be an important step in supporting

the UK automotive industry which employs 780,000

people.

Strong interest in Saltend’s development across a wide range of stakeholders

Recent site visit by representatives of M&G, Automotive Transformation Fund, Cabinet Office

for Investment, Department for Business & Trade, PX Group, Future Humber, Yorkshire Energy

Park, East Riding Council and University of Lincoln.

UK Government also wishes to utilise Pensana’s

relationship with the world’s largest magnet

manufacturer with a view to bringing their next

investment to the UK.

Pensana is partnering with leading energy

provider, Equinor, to develop a low-energy

method for recycling end-of-life wind turbine

magnets using low-carbon Hydrogen produced

from Equinor’s Hydrogen to Humber (H2H) at

Pensana’s Saltend Rare Earth processing facility.

https://pensana.co.uk/wp-content/uploads/2024/01/Corporate-Presentation-January-2024.pdf

Theo - One would think your concerns should be were you have a financial investment , not venting were you do not , think moving forward i might take your own advise you posted on the HZM thread , to filter out the negative noises as you have done with the Publican , We are all big boys here that have done our DD and your venting towards Pensana has no influence contrary to your wishful thinking.

The purpose of the visit was to review the early-stage construction activities being funded by the US$15 million bridging loan from FSDEA, ahead of conclusion of the main financing.

The Chairman of the Board, Armando Manuel, highlighted the importance of the Longonjo project in the FSDEA investment portfolio. The Chairman was keen to understand where FSDEA can assist in the roll-out of the next phase of key activities on site.

Armando Manuel, Chairman of the FSDEA Board commented: “We are delighted to see the excellent progress being achieved on site at Longonjo, which is an important project for us. FSDEA has financed the acceleration of construction activities to ensure that the project maintains momentum whilst we work with the lender consortium to conclude the main finance.”

RBW George Bennett was paid 498K US for doing his job, looks like PRE will have Longonjo funded late this month, RBW Results expected early in Q4 2023, so now 3 months overdue, guess no bonus for George for non-delivery,

DP - RBW George Bennett is being paid 498K US per year, so what point are you trying to raise, all are being paid too much.

SP - RBW Results expected early in Q4 2023, So next week 3 months overdue, as I said results will be somewhere in between dismal and disastrous.

Lessee - Let him find out the hard way, RBW toxic waste dump with unproven technology at scale, they are waiting for their first 350 kgs mixed rare earth sulphate thru their pilot plant to the back end in Florida with the results well overdue, give you a little clue, will be somewhere in between dismal and disastrous.

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

Fri, December 15, 2023

Mkango Announces Resignation of Non-Executive Director

Mkango Resources Ltd. regrets to announce that Stephen Motteram has stepped down from his position as the Talaxis Nominated Director on the Mkango Board, following his resignation from Noble Resources Trading Ltd.

He is headed for supposedly greener rare earth pastures as a CFO at ASM

WEDNESDAY, DECEMBER 13, 2023

Incredible as it sounds, according to the Q3 Trade and Industry Policy Strategies (TIPS) report, South Africa ranks alongside economic catastrophes Libya and Iraq as having the lowest rates of investment in the world – all below 16% among upper-middle-income economies.

South Africa’s place among the lowest in investment rates paints a picture of an economy adrift. The general business sector faces asphyxiation as opportunities for growth dwindle. With limited capital infusion, enterprises grapple with the harsh reality of stagnation and the erosion of any competitive edge.

Our low investment rate signifies a profound lack of business confidence, transforming any investment in the local economy into a high-risk venture. It is our unpredictable business environment that deters long-term investment.

https://www.iol.co.za/business-report/economy/a-stark-wake-up-call-for-inward-investment-and-businesses-235a3bef-9745-4006-b70e-8bc850defda3

What i find perfectly acceptable is a BB for invested holders to share information, Not a delusional negative downramper persisting over many years with alterative agenda to post there preferred stock choice , That is downright deplorable to say the least.

Peter Dumb aka Smartpunter/Dumbpunter.

Your negative posting on PRE were you hold no financial gain is of no interest to this BB , Yet you keep on posting , Are you really that bored and disillusioned with your investments you need to find attention elsewhere , One would suggest , if you put in the same effort were you are invested you might gain some positive feedback and outcomes for your contributions.

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.”

Luanda — The US ambassador to Angola, Tulinabo Mushingi, praised the role of President João Lourenço in achieving the new partnership between the two countries.

The diplomat who was speaking Wednesday at a press conference, in Luanda, explained that the meeting between the two presidents at the White House, ends a historic year of involvement and partnership that coincided with the 30th anniversary of diplomatic ties.

For the US, he stated, it is a profound transformation in the relationship and is due, in part, to the leadership of President João Lourenço and the Biden administration's commitment to investing in this partnership.

He added that this will be done through high-level engagement in agreements for the creation of large economic infrastructures and cross-cutting collaboration, whether global or regional.

According to the diplomat, in his approach to the results of the meeting at the White House last week, the partnership between the two countries is more impactful than ever.

He explained that several commitments emerged from the meeting, with emphasis on the Lobito Corridor, where the USA will invest more than a billion dollars. Regarding energy, he said that more than two billion dollars will also be invested in solar energy projects and the commitment to organize the energy security dialogue next year.

https://allafrica.com/stories/202312080071.html

One would think funding will be in place by the 5th of February for the President to showcase Pensana.

Importantly, Angola is looking to diversify and expand its commercial mining potential beyond diamonds to include critical minerals and gold in particular, which will bring a significant change in context to its mining sector. ASX-listed junior Tyranna Resources is working to help Angola realise this vision as it looks to develop and start mining the country’s first lithium project by 2025. In addition, LSE-listed junior Pensana is working to develop the country’s first rare earths mine by 2025. At this stage the mine will become Africa's first large-scale neodymium and praseodymium (NdPr) rare earth mine with an expected target production of 46,000 tonnes per year.

Mining Indaba is honoured to announce that the President of the Republic of Angola, H.E. João Lourenço, will attend Mining Indaba 2024 where he will deliver a keynote address to delegates.

His presence marks a significant step of progress for Angola and its mining industry as it seeks to increase investment and attract more companies to explore the country's potentially rich mineral resources.

https://miningindaba.com/articles/president-of-the-republic-of-angola-to-attend

The UK government has issued guarantees which secure Standard Chartered Bank to arrange financing for a €415 million contract between exporter Innovo Group and Angola

The largest-ever sovereign transaction which UKEF has closed in Sub-Saharan Africa, this enables the delivery of critical infrastructure in Benguela Province, a coastal region of Angola vulnerable to flooding and poor drainage

Over a third of the contract – more than £140 million – will be spent on UK goods and services, with British and Angolan communities alike to benefit from the deal

https://www.gov.uk/government/news/uk-firms-to-deliver-415-million-sustainable-development-scheme-in-coastal-angola

23/11/23

The minister highlighted that the feasibility studies confirm a high potential to boost the economy, making it imperative to publicize them so that potential investors are aware of them, as these are important minerals at an international level.

Projects such as copper exploration underway in the province of Uíge, niobium in Quilengues, province of Huíla, as well as the exploration of minerals containing rare earth elements in Longonjo, province of Huambo, were mentioned by the portfolio holder.

For two days, the event includes round tables on 'Angola's vision for sustainable development in the mineral resources sector', 'Perspectives of mining prospecting in the face of technological modernization sponsored by Ozango', 'Development of a workforce for excellence ', 'Diversity and economic growth and challenges of the international diamond market'. MAG/DOJ

The podcast was recorded simultaneously with the last RNS Update on Finance for the

https://www.digdeeptheminingpodcast.com/

Update on Finance for the Longonjo and Saltend Projects

https://www.londonstockexchange.com/news-article/PRE/update-on-finance-for-the-longonjo-and-saltend-projects/16189024