Business
Quarterly activities and Cashflow Report
Quarterly activities and Cashflow Report.
About this update from Pensana Plc
[{"type":"text","content":"\n \n \n RNS Number : 6759U\n Pensana Rare Earths PLC\n 31 July 2020\n \n \n \n \n Pensana Rare Earths Plc\n \n \n \n Quarterly Activities and Cash Flow Report\n \n \n For the Period Ended 30 June 2020\n \n \n \n \n \n \n \n \n \n \n Pensana Rare Earths Plc (LSE: PRE; ASX: PM8) (the Company or Pensana) is pleased to present its quarterly activities report for the period ended 30 June 2020.\n \n \n \n \n \n June Quarter Highlights\n \n \n \n \n \n ·\n \n Mining Title received for the Longonjo Project in Angola\n \n \n \n ·\n \n Further equity investment of A$7.25m by the Angolan Sovereign Wealth Fund\n \n \n \n · \n \n Grant of \n \n \n 7,456km2 Coola\n \n \n exploration licence adjacent to Longonjo with confirmed rare earth mineralisation and several additional targets\n \n \n \n ·\n \n High grade drill results received from the weathered zone from surface at Longonjo support strategy to extend mine life beyond the current PFS 9 year pit design\n \n \n \n · \n \n High grade drill intersections in the fresh rock immediately beneath the weathered zone add a new dimension to the project.\n \n \n \n · \n \n Metallurgical programmes progressing well with operation of the beneficiation pilot plant set to commence in August 2020. \n \n \n \n ·\n \n Optimisation of process parameters to produce an NdPr - rich rare earth carbonate is advancing positively, and results will feed into the BFS. \n \n \n \n · \n \n Bankable Feasibility technical studies on track for completion mid October 2020\n \n \n \n \n \n \n Post Quarter Highlights \n \n \n ·\n \n Admission to trading on the London Stock Exchange \n \n \n \n ·\n \n Heads of Agreement signed with China Great Wall Industry Corporation (\"CGWIC\") \n \n \n \n ·\n \n Appointment of Paradigm Project Management\n \n \n \n \n \n \n \n \n \n Chief Executive Officer Tim George Commented:\n \n \n \"This past quarter has been truly transformational for Pensana and has seen us take huge strides towards our goal of developing the first major rare earths mine in over a decade. Our listing on the London Stock Exchange was a major milestone and subsequent share price movement indicates the market confidence in Pensana. The reception of our mining license and approval from the President of Angola is a testament t...