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Pensana Rare Earths PLC ( (GB:PRE) ) has provided an update.
Pensana Plc has begun preparations for a 7,000-metre infill drilling programme at its Longonjo rare earth project in Angola, aimed at providing detailed geological and grade control data ahead of planned mining and stockpiling activities from early 2027 and complementing an ongoing resource expansion campaign. The company will mobilise two reverse circulation rigs for drilling through the 2026 dry season on a tight 10 x 10 metre grid over initial pit areas, collect deeper samples to better define the vertical extent of mineralisation, and assess the potential to increase inferred resources from the current 313 million tonnes at 1.43% TREO towards one billion tonnes, which would place Longonjo among the world’s largest rare earth deposits in development. A containerised on-site laboratory with sample preparation and automated XRF analysis is being procured to accelerate and reduce the cost of multi-element assays, supporting continuous grade control drilling and refining mine and blending plans developed with Practara, thereby strengthening Pensana’s operational readiness and its strategic positioning in the global magnet metals supply chain.
More about Pensana Rare Earths PLC
Pensana Plc is a rare earths developer focused on establishing a fully integrated mine-to-magnet supply chain, centred on the Longonjo rare earth project in Angola. The company plans to produce an initial 20,000 tonnes per annum of mixed rare earth carbonate (MREC), including both light and heavy rare earth elements, with a proposed expansion to 40,000 tonnes per annum. Longonjo will extract, concentrate, calcine and chemically refine near-surface, NdPr-rich ore, with product transported by rail to the Atlantic port of Lobito for export, positioning Pensana as a potential major supplier to magnet metals markets in partnership with U.S. stakeholders.
Average Trading Volume: 933,594
Technical Sentiment Signal: Buy
Current Market Cap: £306M
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