Interesting email I'm sure everyone received and absorbed over...

Interesting email I'm sure everyone received and absorbed over evening drinks or morning coffees. It's really just reverberating prior comments but it very much reinforces the pivot from being a carbonate producing mine in Africa to a potential force within the magnet industry. Whether or not our Angola mines play a huge role in supply ongoing might be determined by how friendly the host nation is with taxation and royalties. If the punishment is too severe then Pensana can easily wrestle back the strong position by bringing in other feedstocks.

I've read a lot of critiquing recently of many RE explorers and viability based on current concentrate prices. The key pivotal moment in our company's history was to disband from Australia and relocate our asset base to the UK, unlocking the Saltend potential accompanied by freeport status and no doubt other healthy incentives to be announced. Oxide production is where the real coin is and what will make PRE into a conglomerate within UK and EU.

4,500T is our initial estimate for year 1 production but who's to say by 2030 we cannot be producing 20 / 30 / 50,000T of oxides/magnets to meet market demand? Pensana's biggest problem might be finding suppliers of ESG compliant and "sustainably sourced feedstock".

Hold your PRE shares for 10 years and you might be looking at adding a few more zeros onto the end of those millions you were originally hoping to earn from your investment!!!


“Clearing the way for Pensana’s world-first sustainable Rare Earth processing hub"
Pensana, pxGroup and Wood Plc have been on site carrying out site surveys and ground clearance activities in preparation for the establishment of the world's first sustainable rare earth processing hub.

Located within the Humber Freeport in the UK, the $125 million facility will create over 100 direct jobs and supply over 5% of the world’s magnet metal oxides for the electric vehicles (EVs) and offshore wind turbines industries.

The facility will become the first major producer of magnet metal rare earths outside China to be established in over a decade at a time when China supplies 98% of Europe's critical rare earth elements.

Initially supplied from its state of the art mine in Angola, the company is looking to import sustainably sourced feedstock from around the world with a view to expanding production to meet expected demand from supply chains in Europe and beyond for non-Chinese sourced material.

Pensana's Chairman, Paul Atherley, commented:"We are witnessing the beginnings of a project which will become a platform for the establishment of an independent, sustainable magnet metal supply chain in the UK.

Saltend’s importance to UK Net Zero ambitions was highlighted recently by the visit from Anne-Marie Trevelyan, Minister for Business, Energy and Clean Growth. Saltend houses many exciting and innovative British industrial multinationals.

We look forward to joining them, bringing back high value manufacturing jobs back to the UK and to playing our part at the heart of the decarbonisation activities, supporting the Green Economy.”