PENSANA RARE EART.LS-,001

Cascade Natural Resources Limited is investing $165 million in Pensana: $15 million for 13.55 million new shares (80 pence per share, 3.8%) and $150 million to subsidiary Sable Min Unipessoal Lda for a 38.2% stake in Sable, which holds the majority of Ozango Minerais S.A. and the Longonjo project. The financing is subject to final documentation; together with a planned $160 million debt package from ABSA, guaranteed by the U.S. Export‑Import Bank, it is intended to cover construction, processing capacity, a drilling programme and general costs up to the planned first production in 2027. The board can issue shares without shareholder approval; the general meeting was postponed. ABG Sundal Collier acted as financial adviser. » More on de.investing.com

Pensana has issued 275,000 new ordinary shares to Quark Financial and applied for their admission to listing on the Official List and to trading on the Main Market of the London Stock Exchange, expected on 28 January 2026. After the issue the issued share capital will comprise 339,522,689 ordinary shares; no shares are held in treasury and the total number of voting rights will also be 339,522,689. Shareholders may use this figure as a reference (denominator) for disclosure and transparency notifications to the FCA. » More on de.investing.com

Pensana has begun preparations for a 7,000‑metre infill drilling program at the Longonjo rare earths project in Angola, planned for May to October 2026. The aim is to obtain detailed geological data and grade control ahead of mining and stockpiling operations scheduled to start in early 2027. A 10 x 10 metre drill grid over the initial mining zones, deep holes to expand resources, and a container laboratory with an XRF analyser will be deployed on site. The project targets production of an initial 20,000 tonnes of MREC per year, rising later to 40,000 tonnes, and refers to an existing resource of 313 million tonnes at 1.43% TREO. » More on de.investing.com