Proactiveinvestors Australia Pensana Metals Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Pensana Metals Ltd RSS feed en Tue, 21 May 2019 20:50:36 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Pensana Metals progresses Longonjo NdPr Project in Angola towards PFS in September ]]> https://www.proactiveinvestors.com.au/companies/news/220553/pensana-metals-progresses-longonjo-ndpr-project-in-angola-towards-pfs-in-september-220553.html Pensana Metals Ltd (ASX:PM8) is completing studies for a low-cost development approach at the Longonjo NdPr Project in Angola to determine the project’s potential to serve as a globally significant supplier for the expanding magnet metals market.

Headquartered in Perth, Western Australia, Pensana has engaged world-renowned engineering firm Wood Group PLC to complete a prefeasibility study (PFS), which is due in September 2019.

Chairman Paul Atherley is a highly experienced senior resources executive with wide ranging international and capital markets experience. He has completed several acquisitions and financings of resource projects in Europe, China, Australia and Asia.

Previously, Atherley was chairman of the British Chamber of Commerce in China, vice chairman of the China Britain Business Council in London and served on the European Union Energy Working Group in Beijing.

The rare-earth developer recently appointed Tim George as chief executive officer to lead the Longonjo project development and London listing.

George has more than 30 years’ experience in the mining and engineering industry and has spent over a decade in production management roles at various Anglo American plc (LON:AAL) operations in Africa.

He was previously chairman and CEO of diamond exploration company Xceldiuam based in Angola, which was bought out by Petra Diamonds Limited (LON:PDL) in 2007.

Pensana has a market cap of around A$19.4 million and at March 31 had cash in hand of A$1.441 million.

Estimated cash outflows during the current quarter total A$1.052 million with $652,000 of this targeted for exploration and evaluation expenditure.

What does Pensana Metals own?

Pensana is targeting a globally significant NdPr deposit at the Longonjo project, which is 4 kilometres from a modern rail line leading directly to an Atlantic port.

The potentially free-dig, low waste to ore ratio and high-grade nature of the surface mineralisation along with its favourable location and transport infrastructure distinguishes Longonjo from other rare earth projects.

The company’s vision is to leverage these unique advantages with the aim to rapidly develop a low capital intensive, low technical risk conventional open pit mine and on-site beneficiation plant to produce a high-grade mineral product for export.

In February SRK Consulting completed work and recorded an increased inferred mineral resource estimate of 240 million tonnes at 1.60% rare earth oxides (REO), including 0.35% NdPr for 3.85 million tonnes of REO, including 840,000 tonnes of NdPr.

The new estimate represents a more than seven-fold increase in tonnes and contains more than four times the amount of NdPr compared to the maiden resource estimate.

In March the company appointed international engineering company Wood Group to execute a PFS for the project.

This will focus on the delivery of a low capital cost open pit mining operation and exporting of concentrates to customers in China via the upgraded Benguela rail line and the Atlantic port of Lobito.

The company believes that it should be possible to move immediately into front end engineering design (FEED) and engineering procurement construction (EPC) following completion of the PFS.

Last week, Pensana intersected some of the highest grades from the project to date and confirmed the continuity of the thick blanket of NdPr mineralisation from surface.

Highlights included:

14 metres at 5.20% rare earth oxides, including 1.06% NdPr from surface; 22 metres at 4.16%, including 0.82% from surface; 8 metres at 8.08%, including 1.54% from surface; and 30 metres at 5.22%, including 1.04% from surface. Inflection points Pensana has appointed SRK consulting Perth to complete a revised mineral resource estimate Remaining assay results from an 18-hole reverse circulation drilling program are expected in May Diamond core assays are expected in June to allow a mineral resource estimate to be completed in July 2019 Complete a prefeasibility study, which is due in September 2019 “High-grade NdPr intersections are exceptional”

On the recent results, Pensana executive director Dave Hammond said: “These high-grade NdPr intersections are exceptional and demonstrate the weathered blanket of mineralisation at Longonjo contains some of the best global NdPr grades.

“The closed space drilling in the proposed open pit area is confirming the continuity of the NdPr mineralisation over substantial widths from surface.

“It will also provide the detail required to support an upgrade of this part of the mineral resource estimate from the current inferred category to the indicated JORC category, as required for a preliminary feasibility study.”

 

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Mon, 20 May 2019 13:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220553/pensana-metals-progresses-longonjo-ndpr-project-in-angola-towards-pfs-in-september-220553.html
<![CDATA[News - Pensana Metals reports more high grade intersections at Longonjo ]]> https://www.proactiveinvestors.com.au/companies/news/220131/pensana-metals-reports-more-high-grade-intersections-at-longonjo-220131.html Pensana Metals Ltd (ASX:PM8) has reported more high grade drill results from the infill drilling programme at its Longonjo neodymium-praseodymium (NdPr) project in Angola.

The results include some of the highest grades returned from the project to date, Pensana said, confirming the continuity of the “thick blanket” of NdPr mineralisation from surface.

RED: Results in full

Among the highlights from this latest round of drilling was hole LRC135 which returned 14 metres at 5.2% rare earth oxides (REO) including 1.06% NdPr from surface.

Hole LRC136 returned 22 metres at 4.16% REO including 0.82% NdPr from surface to the end of the hole.

Assay results from the remaining holes are expected shortly and will allow an updated mineral resource estimate to be completed in support of the preliminary feasibility study which is scheduled for completion in September.

‘Exceptional’ results

“These high grade NdPr intersections are exceptional and demonstrate that the weathered blanket of mineralisation at Longonjo contains some of the best global NdPr grades,” said executive director Dave Hammond.

“The close spaced drilling in the proposed open pit area is confirming the continuity of the NdPr mineralisation over substantial widths from surface and will provide the detail required to support an upgrade of this part of the mineral

Resource estimate from the current Inferred to the Indicated JORC category, as is required for a Preliminary Feasibility Study.”

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Mon, 13 May 2019 11:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220131/pensana-metals-reports-more-high-grade-intersections-at-longonjo-220131.html
<![CDATA[Media files - Pensana Metals announces substantial resource expansion and welcomes new CEO ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13153/pensana-metals-announces-substantial-resource-expansion-and-welcomes-new-ceo-13153.html Tue, 30 Apr 2019 12:38:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13153/pensana-metals-announces-substantial-resource-expansion-and-welcomes-new-ceo-13153.html <![CDATA[News - Pensana Metals increases Longonjo NdPr resource estimate more than seven-fold ]]> https://www.proactiveinvestors.com.au/companies/news/214841/pensana-metals-increases-longonjo-ndpr-resource-estimate-more-than-seven-fold-214841.html Pensana Metals Ltd (ASX:PM8) has increased the mineral resource estimate more than seven-fold for the Longonjo Neodymium-Praseodymium (NdPr) Project in Angola.

The new estimate contains more than four times the amount of NdPr compared with the mineral resource estimate reported in September 2017.

International mining consultants SRK Consulting reported an inferred mineral resource estimate of 240 million tonnes at 1.6% rare earth oxides including 0.35% Ndpr, for a contained 3.85 million tonnes of rare earth oxide and 840,000 tonnes of NdPr. 

Longonjo now ranks amongst “world’s largest projects”

Pensana executive director Dave Hammond said: “Longonjo now ranks among the very largest and highest-grade NdPr projects worldwide and is expected to get bigger at a time when China controls 96% of rare earth magnet production.

“The demand for neodymium-praseodymium is set to take off as electric vehicle manufacturers invest over US$300 billion in what has been described as the biggest energy transformation in history.

“It’s not just Longonjo’s high-grade and sheer scale that gets us excited, it is the fact that it is located right next door to the Chinese-built US$1.8-billion Benguela rail line which links the project with the Atlantic deep-water port of Lobito and directly onto customers in China.

READ: Pensana Metals receives high-grade rare earth results at Longonjo in Angola

Hammond added: “We are now working with WOOD to engineer and design a low capital cost flotation operation that can establish Pensana as a long-term reliable supplier of high-value NdPr concentrates to customers in China.”

Further drilling is expected to increase the mineral resource estimate with an initial focus within a cut-off around .65% NdPr, which totals 22.9 million tonnes at 4.16% rare earth oxide and .86% NdPr containing around 953,000 tonnes of rare earth oxide including 197,000 tonnes of NdPr.  

- Jessica Cummins 

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Tue, 19 Feb 2019 00:33:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214841/pensana-metals-increases-longonjo-ndpr-resource-estimate-more-than-seven-fold-214841.html
<![CDATA[News - Pensana Metals receives high-grade rare earth results at Longonjo in Angola ]]> https://www.proactiveinvestors.com.au/companies/news/212739/pensana-metals-receives-high-grade-rare-earth-results-at-longonjo-in-angola-212739.html Pensana Metals Ltd (ASX: PM8) has received further high-grade rare earth oxide (REO) results from drilling at the Longonjo Neodymium–Praseodymium (NdPr) Project in Angola.

These results are the final assays from a 108-hole drilling program in 2018 with a revised resource estimate scheduled for completion next month.

Best results include:

- 50 metres at 5.63% REO, including 1.00% NdPr oxide from surface to end of hole;

- 33 metres at 5.42% REO including 0.88% NdPr from surface;

- 10 metres at 8.5% REO including 1.5% NdPr from 38 metres; and

- 26 metres at 2.57% REO including 0.92% NdPr from 22 metres and 15 metres at 2.88% REO including 1.03% NdPr from 60 metres to end of hole.

Thick zone of rare earths

The new intersections identify a thick zone of NdPr oxide enriched mineralisation, particularly in the hole with two intersections where NdPr makes up 36% of total rare earths.

“Highest grade received to date”

Pensana executive director Dave Hammond said: “These high-grade NdPr intersections are some of the thickest and highest grades received to date.

“They occur over substantial widths from surface and will extend the high-grade mineralisation in a number of directions.”

Utilising all results from the 2018 drilling program, SRK Consulting (Perth) will now complete a revised mineral resource estimate.

- Jessica Cummins

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Wed, 16 Jan 2019 22:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212739/pensana-metals-receives-high-grade-rare-earth-results-at-longonjo-in-angola-212739.html