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Pensana Metals actively promotes Longgonruo rare earth project to prepare for dual listing plan early next year

2019-12-04 11 :24Source: My Non-Ferrous Net Follow the phone can also read the article

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Pensana Metals' Longonjo plutonium neodymium rare earth project in Angola is about to enter the final stage of a feasibility study.

Pensana Metals is continuing to advance site construction and financing activities for the project.

Orderly advance drilling program designed to extend mine life

Pensana Metals has planned a reverse circulation drilling program with a total depth of 7000 meters, which aims to convert more inferred reserves into identified resources and estimated mineral resources, and further convert them into proven reserves with the advancement of technology. This drilling program has now completed a total of 672 meters of drilling depth, a total of 25 holes.

The drilling program is expected to add an additional nine years of mining life to the mine.

Rare earth ore samples are on their way to Perth

60 tons of high-grade rare earth ore samples collected from 23 locations in the mining area were packed in four containers, and they have now left the port of Lobito by boat and are heading towards Perth, Western Australia.

Before the negotiation of the off-take agreement with the customer is officially started, the factory will trial-produce 2 tons of concentrate to the customer for inspection, and provide detailed parameters of the final draft of the flotation design.

London Stock Exchange listing plan

Pensana Metals has filed a proposal with the Australian Securities and Investments Commission (ASIC) and the Western Australian Courts to move its company to the UK.

Pensana has begun preparing the documents and application materials required for the dual listing of the two places in order to prepare for the company's simultaneous landing on the London Stock Exchange and the Australian Stock Exchange in early February 2020.

(Source: proactive)

The company's focus is to bring the Longonjo NdPr Project to definitive feasibility study status.

Pensana Metals Ltd (ASX: PM8) is continuing to progress site activities and overall project development and financing of the Longonjo NdPr (neodymium and praseodymium) Project in Angola.

Drilling program to extend mine life

25 holes for 672 metres have been completed of the 7,000-metre reverse circulation program designed to convert more of the inferred resource into measured and indicated status and then into proven and probable ore reserves on completion of further technical studies for financing purposes.

The program is expected to increase the current mine life of nine years.

Bulk sample containers en route to Perth

The four containers with 60 tonnes of high-grade weathered mineralisation mined from 23 locations across the initial mining area have left the Port of Lobito en route to Perth, WA.

The pilot plant test work program will produce about two tons of concentrate for delivery to customers ahead of offtake negotiations and will provide detail parameters for the flotation circuit final design.

LSE standard listing

Pensana has lodged a scheme of arrangement with ASIC and the Court of Western Australia for the redomiciling of the company to the UK.

Pensana has commenced preparation of the necessary documentation and applications for the dual listing of the company on the LSE and the ASX scheduled for early February 2020.

(source: proactive)

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