Sovereign Wealth Funding

Reading between the lines, I would say that Longonjo is now a Prime target for the Sovereign Wealth Funds, it ticks all of the box's that they would be looking for: Development in a "Priority Region" (as evidenced by tax breaks), Emerging economy, Long term with strong IRR, Promotes local Infrastructure development and utilization, ESG, Local job creation, Considerable potential for upstream developments (Refinery, sintering plants), the list goes on.

The only possible detraction I can see for these funds is that US$130M may be a little on the lite size for them. Most of these funds prefer at least double that. Still maybe Pensana can think about increasing capacity by bringing forward Stage II, or even the possibility of taking the next step in processing and look at producing a Mixed Rare Earth Carbonate ?

I must admit that Hastings LOM financials do look interesting, and remember Longonjo has a lot more going for it in size and location/existing infrastructure;

Plenty to think about.