source：Mining Review
The Company is not raising any funds in connection with the admission and will have 188,274,665 ordinary shares of ￡0.001 each in issue.
Paul Atherley, Chairman of Pensana Rare Earths, comments:
“The US$16 trillion post COVID-19 stimulus programmes are transforming the renewable energy sector, supercharging the demand for critical rare earth magnet metals.
“With no new rare earth mines in construction magnet metal prices are forecast to rise over the next few years.
“With Angolan Presidential approval and financial backing from the Angola Sovereign Wealth Fund and various institutional investors, we are on track to bring online the first major rare-earth mine in over a decade to meet the growing demand for the metals critical to the green energy revolution.
“Our listing in London provides UK investors with an opportunity to gain a
direct exposure to the metals critical to the burgeoning EV and offshore
wind sectors.”