PM8 - Pensana PLC

[springhill]

MC - $26m
SP - 9c
Shares - 287m
Options - 22m
Cash - $9m

Resources (attributable) 760,000oz Au

RECENT NEWS - MIYABI DRILL RESULTS
• New gold zone - Chui Prospect
- Open at depth - extends over a length of 900m and located 1km along strike from the Dalafuma Prospect
• New gold zone - Dalafuma Prospect
- Extends over a 300 metres - open at depth
- Drilling confirms high-grade continuity
• The follow up drilling as soon as possible
Dalafuma Prospect
18m @ 18.3g/t Au from 45m down hole
12m @ 21.6g/t Au from 66m down hole
24m @ 10.6g/t Au from 21m down hole
Chui Prospect
11m @ 23.0g/t Au from 54m

COMPANY STRATEGY
To build a significant gold company with at least 2Moz of gold resource and scope for 200,000oz of production per annum

ABOUT TANZANIA
Stable and supportive to foreign investment
- Politically stable multi-party democracy since 1964
- World’s 5th fastest growing economy
- Endorsed by World Bank and IMF
- Globally competitive tax and regulatory framework for investors
- English and Swahili speaking - legal system based on English common law
The third largest gold producer in Africa (from zero output in 1998)
- Supportive government with “Australian style” Mining Act updated in 2010
- Mining service providers and contractors readily available
- Western companies operating since 1998 (Resolute, Barrick, AngloGold).
- High proportion of large deposits (> 4Moz)

MIYABI PROJECT
- Rift Valley earning 75% from UK based African Eagle Resources (AFE)
- Approximately 30km from Resolute’s Nyakafuru deposit
- 520,000oz JORC Resource
- High priority drill targets defined

KITONGO PROJECT
Main Zone
– 370,000koz Au @ 0 .5 g/t cut off
Isegen’ghe
Results include:
– KTRC235 3m at 19.60g/t from 141m
– KTRC242 2m at 15.75g/t from 81m Primary Mining Licence
Kitongo Hill
Results include:
– KTRC180 12m at 12.95g/t from 74m
– KTRC175 10m at 2.14g/t from 48m
– KTRC213 4m at 2.97g/t from 15m

KITONGO TARGETS
Northern Shear
- 800m long, most holes to 80m vertical, all holes mineralised with significant depth extension likely
- Mineralisation in KTRC140 ended in high grade (13m at 6.98g/t), is the best drill intersection but is outside the current resource
- Later drill info not used in the estimate will extend the resource which is open and untested to the north
South Limb
- Zone appears to continue strongly north-west outside the current resource.
- Numerous resource-grade intersections occur outside the resource boundary

 

[System]

On September 25th, 2018, Rift Valley Resources Limited (RVY) changed its name and ASX code to Pensana Metals Limited (PM8).

 

[greggles]

100,000,000 shares traded in PM8 today and a share price gain of 17.65%. Currently trading at 2c. The company received a price and volume query from the ASX today and had the following to say:

On 27 December 2018 Pensana announced further excellent drill results from its exploration programme at the Longonjo NdPr Project in infrastructure rich Angola.

Results from the latest 31 holes include a number of high‐grade intersections starting from the surface up to 42 metres in thickness.

Results from 67 of the 108 holes drilled have extended the area of the Mineral Resource estimate by several hundred metres to the north, east and the west.

The results expected shortly from the 41 holes drilled in the 2,200 by 900 metre southern area of the carbonatite are expected to further extend the mineralisation.

Could be a trading opportunity here if good news comes through. Looks like someone is getting set.

 

[greggles]

Pensana Metals making some ground in the last few trading sessions following its re-reinstatement to official quotation on 4 June. After trying and failing to stay above 2c twice so far this year, it looks it might actually manage it this time.

The company has recently raised $5 million through a private placement of 250,000,000 fully paid ordinary shares at 2c a share. The funds will be applied to the execution of a Pre-Feasibility Study by Wood Group into the development of the Longonjo NdPr Project in Angola which will be reported in September.

Further assay results from the infill drilling programme at the Longonjo NdPr Project are still outstanding and should be released soon, as per the announcement dated 13 May. Following that, an updated Mineral Resource estimate is to be completed in support of the Pre-Feasibility Study.

 

[Telamelo]

PM8 chart breakout alert to fresh high's this morning @ 45c (it's listed on London stock exchange as well) SOI 188M with top 20 holding 42%

Developing a 'world class' high-grade rare earths deposit in Angola (full details links below).

https://www.investegate.co.uk/pensa...ties-and-cashflow-report/202007310700066759U/

https://pensanametals.com/index.php/en/

https://www.londonstockexchange.com/stock/PRE/pensana-rare-earths-plc/company-page

https://www.marketindex.com.au/asx/pm8

Plenty of news flow August till October with scheduled construction to commence Q1 2021

DYOR as always... Cheers tela

 

[Telamelo]

PM8 chart breakout alert to fresh high's this morning @ 45c (it's listed on London stock exchange as well) SOI 188M with top 20 holding 42%

Developing a 'world class' high-grade rare earths deposit in Angola (full details links below).

https://www.investegate.co.uk/pensa...ties-and-cashflow-report/202007310700066759U/

https://pensanametals.com/index.php/en/

https://www.londonstockexchange.com/stock/PRE/pensana-rare-earths-plc/company-page

https://www.marketindex.com.au/asx/pm8

Plenty of news flow August till October with scheduled construction to commence Q1 2021

DYOR as always... Cheers tela

Noticed too, 5 yr technical chart shows breakout to fresh new high's this morning!
75 buyers for 1,049,578 units vs only 23 sellers for 439,438 units

 

[Telamelo]

PM8 strong finish closing @43.5c +8.75% with chart breakout to fresh new 5 yr high's!

https://asx.swingtradebot.com/equities/PM8:ASX

 

[Telamelo]

PM8 finished up +12.5% in London overnight. 04/08 news *Further High-Grade Intersections!

 Fresh rock mineralisation ‐ adding a whole new dimension to the project:
Wide, continuous high‐grade intersections grading 2% to 4% REO have been
returned from the fresh rock immediately below the weathered zone. The
mineralisation remains open below the 80 metre drill depth and to the north
and west. The reported grades and potential size of the further
mineralisation are very encouraging and whilst not currently included in the
current Bankable Feasibility Studies work has commenced on including this
mineralisation in the overall development of the project.
 New Mineral Resource estimate: Work has commenced on an updated
Mineral Resource estimate to be reported in September 2020.

Executive Director & COO Dave Hammond commented:

“These final results have further highlighted the world‐class opportunity at the
Longonjo Project. The drilling continues to prove the continuity of the weathered
mineralisation, returning significant grades from surface outside of our current
mine plan. We expect these infill drilling results will allow us to upgrade the existing
resource categories and extend the mine life.

Further drill testing of the fresh rock zone, which is not in the current mine plan, has
also exceeded expectations. With many holes ending in mineralisation at eighty
metres depth, identifying several open positions, the potential for a sizeable deposit
of this second style of mineralisation is an exciting possibility.

All assay results have now been received, and SRK Consulting has commenced the
estimation process. We look forward to reporting a new Mineral Resource estimate
in September.”

DYOR as always.. Cheers tela

 

[Telamelo]

PM8 +9.2% very bullish looking chart! Cheers tela

 

[Dona Ferentes]

now called Pensana Rare Earths PM8, with a package of tenements in areas of Tanzania and Angola . Longonjo in Angola seems to be the flagship, with surface mineralisation and relatively long life mine planned.

Home

www.pensana.co.uk

Now listed on LSE, Frankfurt and ASX (for how long?) and has Angolan Sovereign Wealth Fund as a cornerstone investor

About Longonjo NdPr Project
Located 4 kilometres from a modern rail line, leading directly into an Atlantic port, Longonjo leverages excellent transport connections. The potentially free dig offers a low waste-to-ore ratio, coupled with high-grade surface mineralisation, which together with the favourable location and the transport infrastructure already in place, distinguish Longonjo from the majority of other rare earth projects.

Chief Executive Officer Tim George Commented:

“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 to the open environment of Angola and the significant social and economic benefits Longonjo will provide."

 

[over9k]

Angola actually holding it is very encouraging - they're going to take care of/protect their own baby

 

[Dona Ferentes]

Angola actually holding it is very encouraging - they're going to take care of/protect their own baby

only if the President remains in the position. Looks normal, sadly (without stereotyping). Also, the Chinese (re)built the railway, lining up for the offtakes. I don't see a fair and free market, not the way we think or expect.

That said, since the LSE listing (06 July) the resource expansion, high grade intercepts, upgrades, PM8 has been on a tear. Another 20% in the last few days.

 

[Dona Ferentes]

but ... nice numbers, easy mining, good access.

Inferred Mineral Resource estimate of 240 million tonnes at 1.60% REO including 0.35% NdPr for 3,850,000 tonnes of REO including 840,000 tonnes of NdPr.

1. The updated estimate represents more than a seven-fold increase and contains well over four times the amount of NdPr included in the maiden Mineral Resource Estimate from 26 September 2017.
2. The NdPr deposit is a blanket of soft weathered material, averaging 30 metres in thickness (up to 75 metres in some locations). The highest grade raw material can be found on the surface, but the deposit remains open at depth and in a number of lateral directions.
3. Pensana’s initial focus will be on the source occurring within a cut-off of around .65% NdPr. This resource totals 22.9 million tonnes at 4.16% REO and .86% NdPr containing around 953,000 tonnes of REO including 197,000 tonnes of NdPr.
4. Please refer to tables 1 to 3 for information on the range of cut-off grades, material types and the total rare earth oxide grades.

Due to the high grades on the surface, the weathered zone contains the most favourable NdPr mineralisation for mining and processing. It forms a thick blanket of soft material, extending up to 75 metres in depth in some places. As the near surface, high-grade mineralisation remains open in several directions, this offers the potential for further extensions with additional drilling.

 

[Dona Ferentes]

"mine to magnet" supply chain
PM8 now looking at a study into the establishment of an integrated rare earth processing facility in the UK, using the Angola RE resource.

These projects involve some big numbers

Dogger Bank is projected to be the world’s biggest wind farm, for the next 20 years. Located 130 km (80 miles) off the Yorkshire coast, the Dogger Bank wind farm will be powered by an array of 260 metre high Haliades X 13MW turbines, each requiring over 7 tonnes of permanent magnets, and has the capacity to generate enough renewable electricity to power 4.5 million homes, or 5% of the UK’s total electricity supply. ..

 

[over9k]

It's on a tear now too. 10% for the day. Let's see how today does.

 

[Dona Ferentes]

Pensana Rare Earths Plc announces that Saltend Chemicals Park in the Humber Local Enterprise Partnership has been selected as the proposed site to build the UK’s first rare earth processing facility with a view to helping create the world’s first fully sustainable magnet metal supply chain.

- so, no low level radiation or super expensive workers in NE England?

 

[Balder]

Pensana Rare Earths Plc announces that Saltend Chemicals Park in the Humber Local Enterprise Partnership has been selected as the proposed site to build the UK’s first rare earth processing facility with a view to helping create the world’s first fully sustainable magnet metal supply chain.

- so, no low level radiation or super expensive workers in NE England?

Surprised there wasn’t more pickup on this but found this comment in the I.C

https://www.investorschronicle.co.uk/shares/2020/12/07/pensana-picks-humber-for-uk-rare-earths-facility/

So after seeing interest start to motor a watching the interview on VSA with Paul here https://vsacapital.com/pensana-rare-earths-interview/

I’ve jumped on the bandwagon, it’s flying both on the ASX and the U.K last couple of sessions, this thread is so quiet, a good sign maybe.

 

[peter2]

Thanks. Looking at my chart I'm wondering why I didn't see the high volume bullish bar (HVBB) on the 21/12 in my spec scan. I saw the one on the 23/12 but price opened too high on the next day.
The 21/12 bar failed to trigger my blue arrow indicating the HVBBs. This has been modified and the scan will find it now.
Too late for PM8 but I'll catch the next one. It's important to catch these excellent "tells" when they appear.

 

[Balder]

I’ve got this down for a further jump when the BFS comes in for the Angola operations hopefully in January, then don’t rule out U.K government funding in their drive to become so called “green” energy pioneers for the R.E.E “tag”site approved on the Humber estuary; one of only 2 outside China I believe?

Additionally it trades as a SETS stock in the U.K now, that will drive volume there and don’t be surprised if it delists from the ASX at a higher price as a result, well that’s part of my gamble.

Finally, compare to such as MP materials corp in the U.S hugely overvalued I.m.o to PM8 but shows the opportunity of share price appreciation for an in vogue sector.

For balance, I see country risk and time to build the mine as the principal negatives short to medium term.

Could post more but don’t want to overdo it. So speculative it’s a worthy tip of the year contender for me.

 

[Balder]

Know this is probably going to move off ASX before long, shame I didn’t see it sooner, as wondering if it’s a LSE led price? Since the LSE price has finished roughly at $2.12c by my reckoning.