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Pensana Rare Earths (ASX:PM8) - CEO, Tim George - The Market Herald
CEO, Tim George
Source: Mining Journal
  • Pensana Rare Earths (PM8) has successfully produced a neodymium-praseodymium (NdPr)-rich mixed rare earth carbonate (MREC) from recent test work
  • Test work is being undertaken at a Perth-based lab using material from Pensana's Longonjo rare earth project in Angola
  • Additionally, two industry experts have developed a flowsheet to produce a high-grade MREC with NdPr
  • Pensana considers this mixed combination to be of a higher value to a broader market while maintaining a high purity
  • Test work is ongoing and is set to support an upcoming bankable feasibility study
  • Company shares are up 12.8 per cent and are trading for $1.15

Pensana Rare Earths (PM8) has successfully produced a neodymium-praseodymium-rich mixed rare earth carbonate (MREC) from recent test work.

The test work is ongoing at a Perth-based lab using mineralisation from the company's Longonjo rare earth project in Angola.

Further, industry experts Wood Group and Nagrom, have successfully developed
a flowsheet to produce a high-grade MREC with neodymium-praseodymium (NdPr) that comprises 33.5 per cent of the total rare earths content.

"This is an important milestone for the project as it confirms the potential to
produce a marketable higher value NdPr rich mixed rare earth carbonate," CEO Tim George said.

The company is choosing to produce a high-grade MREC as it is a much higher purity product with higher value than the concentrate product in Pensana's preliminary feasibility study (PFS). MREC also has a broader market and wider scope of applications.

Importantly, industry specialists have determined the MREC product from Longonjo compares favourably with the main products being produced and sold throughout China.

"We are now in a position to commence discussions with potential offtake parties in Japan, Korea and Europe in addition to the wide range of potential customers in
China," Tim stated.

The test work is ongoing and Pensana is looking to finalise its preferred process route to provide data for engineering and production cost estimations for the project's bankable feasibility study (BFS). There'll be an update on the BFS towards the end of the month.

Pensana's upcoming study will highlight the potential for the Longonjo project to be the first major rare earth mine in over a decade which can also offer a
sustainable supply of mixed rare earth carbonate.

Company shares are up 12.8 per cent and are trading for $1.15 at 11:32 am AEDT.


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