Pensana Plc · LSE:PRE
Pensana — The EV Economy Webinar (January 2024)
28 slides from Pensana's conference presentation, Jan 18, 2024
Slide 1: Financing underway to unlock one of the world's largest undeveloped rare earth projects
Financing underway to unlock one of the world’s largest undeveloped rare earth projects UK Government backing to establish magnet metal supply chain in the UK The EV Economy Webinar 18 January 2024 LSE:PRE
Slide 2: Corporate Summary
Corporate Summary LSE standard list (LSE: PRE) 285 million shares on issue 12 Month Share Price Market Capitalization ~£58 million 70 Highly Supportive Major Shareholders 60 have invested US$70 million to date 50 40 Angolan Sovereign Wealth Fund FSDEA (26%) 30 (Invested US$32 million Mar 2020 – Apr
Slide 3: IEA World Energy Outlook 2023: Electric Vehicles to increase 10-fold by 2030
Rare earth elements (kt) IEA World Energy Outlook 2023: Electric Vehicles to increase 10-fold by 2030 amid ‘unstoppable’ net zero shift The transition to clean energy is happening worldwide and it's unstoppable. Electric vehicles are now expected to have a global market share of 38% of new sales by
Slide 4: Investment Opportunity
Investment Opportunity Rare opportunity to gain direct exposure to the biggest energy transition in history The electrification of motive power through EVs and Wind Turbines will generate a demand growth for magnet metal NdPr of 7.5% CAGR over the next decade. Pensana owns one of the world's largest
Slide 5: One of the Largest Undeveloped Rare Earth Deposits Globally
One of the Largest Undeveloped Rare Earth Deposits Globally Excellent rail, hydro and port infrastructure JORC RESERVE 30 million tonnes 2.55% TREO containing 166,000 tonnes NdPr oxide for initial 20-year mine-life. Monte Sulima The near surface, deeply weathered orebody, has an West Verde average m
Slide 6: Growing Mining Jurisdiction Attracting Global Investment
Growing Mining Jurisdiction Attracting Global Investment Angola has an untapped critical minerals endowment, exceptional rail, hydro and port infrastructure and a highly supportive Government. Ivanhoe Founder Robert Friedland “We thank the government of Angola for welcoming Ivanhoe Mines and entrust
Slide 7: State-of-the-art Mine and Processing Facility
State-of-the-art Mine and Processing Facility Upfront capital cost lowest amongst peers Upfront capital cost of US$200 million, with circa US$105 million deferred until year three. Related mainly to plant expansion, grid connection and rail spur. At full capacity annual production 40,000 tonnes of h
Slide 8: Modular Manufacture On-site Assembly Extensively Pilot-Tested
Tails Thickener Flotation Scrubbing Concentrate Thickening & Milling Concentrate CCD Leaching Drying Nano Filtration Acid Bake Calciner MREC Precipitation Acid Plant MREC Product Bagging Reagent Storage Modular Manufacture On-site Assembly Extensively Pilot-Tested High Quality Vendors Hydro & Solar
Slide 9: Highly Experienced Project Delivery Team
Highly Experienced Project Delivery Team Proven design and delivery track record of modular process plants across Africa MCC is a leading project management team with a track record of delivering projects across Africa including Angola. ADP is Lycopodium’s African minerals specialist in detailed des
Slide 10: Construction Activities at Longonjo
Construction Activities at Longonjo
Slide 11: Construction and Commissioning Schedule – first production 2026
Construction and Commissioning Schedule – first production 2026
Slide 12: FSDEA Board reviews progress at Longonjo
Chairman Armando Manuel and FSDEA Board review progress with Chief Commercial Officer William Izod and Longonjo team members.
Slide 13: Longonjo - Compelling Economics
Longonjo - Compelling Economics Low upfront Capex with strong cashflow highly leveraged to the NdPr price Management Valuation and Financial estimates based on NdPr price forecasts by Adamas Intelligence and Investment Bank US$ / TONNE NDPR OXIDE Adamas Intelligence Investment Bank 300,000 Base Case
Slide 14: Update on Longonjo Financing
Update on Longonjo Financing The Angolan Sovereign Wealth Fund (FSDEA) is funding construction activities on site via a US$15 million loan, ensuring project momentum. FSDEA and a pan-African multilateral Development organisation have indicated that they will provide US$80 million in equity at the Oz
Slide 15: Highly Marketable Mixed Rare Earth Carbonate (MREC)
Highly Marketable Mixed Rare Earth Carbonate (MREC) MINE TO MAGNET TRANSPARENCY C02 targets as a key criterion and One of the only mine developers to offer a 50% diversified supply chain. high value, radionuclide-free product ULTRA-LOW available for export. EMBEDDED CARBON Executed letter of intent
Slide 16: Looking to Establish an Independent Downstream Supply Chain
Looking to Establish an Independent Downstream Supply Chain Upstream Separation Metallisation Magnet Mine & Processing Saltend Chemicals Park Yorkshire Energy Park • 40,000 tpa MREC • 12,500 tpa TREO • 4,000 tpa NdPr alloy • UK/Europe location • Offtake underway • 4,400 tpa NdPrO • Low electricity c
Slide 17: Minister confirms Saltend is of strategic importance to the UK and offers ATF Grant
Minister confirms that Saltend is of strategic importance to the UK and offers ATF Grant Funding By 2030 the UK is expected to transition from being a major producer of internal combustion engines to a world leader in electric drive units (EDUs), producing three million EDUs annually, with a large p
Slide 18: Establishing a magnet metal supply chain to support UK EDU manufacture
Establishing a magnet metal supply chain to support automotive Electric Drive Unit (EDU) manufacture in the UK Saltend Chemicals Park, Humber Freeport Fully engineered and permitted downstream UK Separation Facility. Strategically located within Humber Freeport and powered by low-cost offshore wind.
Slide 19: Strong interest in Saltend's development across a wide range of stakeholders
Strong interest in Saltend’s development across a wide range of stakeholders Recent site visit by representatives of M&G, Automotive Transformation Fund, Cabinet Office for Investment, Department for Business & Trade, PX Group, Future Humber, Yorkshire Energy Park, East Riding Council and University
Slide 20: Studies commenced on Offshore Wind powered magnet metal facility at Yorkshire Energy Park
Studies commenced on Offshore Wind powered magnet metal facility located at Yorkshire Energy Park Located in YEP adjacent to the Saltend separation facility and with 50MW green electricity from the grid. Low cost, zero carbon electrical power supplied under the Energy Intensive Industry and British
Slide 21: Saltend's Importance as an Independent and Sustainable Supplier
Saltend’s Importance as an Independent and Sustainable Supplier European and UK electric vehicle industry The UK will produce 2- 3 million Electric Drive Units (EDU’s) annually from 2030. Exporting around the world supporting the burgeoning demand for electric vehicles globally. The UK and Europe re
Slide 22: The UK needs a magnet metal supply chain to convert to electric drive units
The UK is currently a net exporter of The UK is a leader in EDU technology which is being automotive engines but needs a magnet acquired by major automotive OEM’s (eg: Mercedes metal supply chain to convert to electric buys UK Start-up Yasa). drive units (EDUs) It is essential for the UK that this p
Slide 23: Partnering with Polestar 0
PARTNERING WITH POLESTAR 0 Pensana is partnering with Polestar (Nasdaq: PSNY) on its moon-shot goal of creating the first truly climate-neutral car by 2030. The Polestar 0 project is aiming to eliminate all greenhouse gas emissions from all raw materials used to when the car is delivered to the cust
Slide 24: Cooperation Agreement with Equinor to Recycle Offshore Wind Turbine Magnets
Cooperation Agreement with Equinor to Recycle Offshore Wind Turbine Magnets using Low Carbon Hydrogen Pensana is partnering with leading energy provider, Equinor, to develop a low-energy method for recycling end-of-life wind turbine magnets using low-carbon Hydrogen produced from Equinor’s Hydrogen
Slide 25: Strong Independent Board and Experienced Executive Management Team
Strong Independent Board and Experienced Executive Management Team PAUL ATHERLEY RT HON BARONESS NORTHOVER ROBERT KAPLAN CHAIRMAN NON-EXEC DIRECTOR FINANCE DIRECTOR Mr. Atherley is an experienced mining Baroness Northover was the Prime Minister’s Mr Kaplan is a Chartered Accountant with executive an
Slide 26: Investment Opportunity
Investment Opportunity Rare opportunity to gain direct exposure to the biggest energy transition in history The electrification of motive power through EVs and Wind Turbines will generate a demand growth for magnet metal NdPr of 7.5% CAGR over the next decade. Pensana owns one of the world's largest
Slide 27: Contact
CONTACT Pensana Plc Rex House, 4th Floor, 4 - 12 Regent Street, London, SW1Y 4PE +44 203 356 2700 info@pensana.co.uk pensana.co.uk @PensanaRE in Pensana Plc
Slide 28: Cautionary Statement
CAUTIONARY STATEMENT This presentation and any additional documents presented (together the “Presentation Materials”) are being supplied to you solely Neither this document, nor any copy of it, may be taken or transmitted into any jurisdiction where it would be unlawful to do so. Any for information