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EPCM and Updated Ore Reserve estimate
EPCM and Updated Ore Reserve estimate.
About this update from Pensana Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\nTHIS ANNOUNCEMENT CONTAINS INSIDER INFORMATIONPensana Plc(\"Pensana\" or the \"Company\") EPCM and Updated Ore Reserve estimate Pensana Plc (PRE.LSE) is pleased to announce an updated ore reserve estimate and an update on the project delivery for the Longonjo rare earth project in Angola. The highlights are as follows:\tThe updated JORC compliant ore reserve grade has increased to 3.04% TREO containing 139,000 tonnes of NdPr oxide for a mine life of over 20 years making it one of the largest and highest-grade undeveloped magnet metal projects worldwide. \tThe plant will process 800,000 tonnes per annum with a feed grade for the first five years of 4.12% TREO with a very low strip ratio of 0.25 tonnes of waste for each tonne of ore mined. \tBenefitting from the excellent infrastructure in the region the capital cost at US$217 million, including contingency, is one of the lowest capital intensities for a rare earth project of this scale. \tWith the site infrastructure and access road already in place and the mobilisation of contractors underway the main construction of the modularised process plant is expected to commence in the coming weeks. \tInitial production of 20,000 tonnes per annum of clean, highly marketable mixed rare earth carbonate (MREC) is due to commence in late 2026. \tThe Company has received considerable interest in offtake for the stage one production of 20,000 tonnes per annum of MREC and has received expressions of interest in the proposed expansion tonnage of 40,000 tonnes per annum. The technical due diligence carried out by independent technical consultants on behalf of the lender consortium has reported the following updated JORC compliant ore reserve estimate. \t\t\t\t\t\t\t\t\tORE RESERVE CATEGORY\t\t\t\t\t\t\t\t\tTONNES\t\t\t(million)\t\t\t\t\t\t\t\t\tTREO GRADE\t\t\t(%)\t\t\t\t\t\t\t\t\tNdPr GRADE\t\t\t(%)\t\t\t\t\t\t\t\t\tCONTAINED TREO\t\t\t(tonnes)\t\t\t\t\t\t\t\t\tCONTAINED NdPr\t\t\t(tonnes)\t\t\t\t\t\t\t\t\t\t\t\t\tProved\t\t\t\t\t\t\t\t\t11.69 \t\t\t\t\t\t\t\t\t3.49 \t\t\t\t\t\t\t\t\t0.73 \t\t\t\t\t\t\t\t\t407,981 \t\t\t\t\t\t\t\t\t85,337 \t\t\t\t\t\t\t\t\t\t\t\t\tProbable \t\t\t\t\t\t\t\t\t9.84 \t\t\t\t\t\t\t\t\t2.51 \t\t\t\t\t\t\t\t\t0.55 \t\t\t\t\t\t\t\t\t2...