Pensana updates on financing of Longonjo and Saltend projects

Pensana plc (LON:PRE) has provided the following update on the financing of both the Longonjo and Saltend projects.

Highlights

The engineering team has successfully completed a modular redesign of the Longonjo mine and processing facility, with a total Capex of US$200 million.

The technical and economic due diligence review of the redesign by South African mining consultants, The Mineral Corporation, on behalf of ABSA Bank, is scheduled for completion in November.

ABSA which has been mandated as the lead arranger for a US$120 million loan facility has provided high level commercial debt terms which include South African export credit agency support.

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