Pensana Rare Earths PLC Appointment of Paradigm Project Management (0790U)
2020年7月27日 - 3:00PM
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RNS Number : 0790U
Pensana Rare Earths PLC
27 July 2020
27 July 2020
Appointment of Paradigm Project Management to accelerate mine
development
Pensana Rare Earths Plc (LSE: PRE, ASX: PM8) is pleased to
report the engagement of Paradigm Project Management Pty Ltd
("Paradigm") as the owner's representative for the Longonjo NdPr
Project in Angola, monitoring the on ground development of the
project on behalf of Pensana.
Paradigm brings an Afri-centric engineering capacity to the team
and will co-ordinate the Bankable Feasibility Study and deliver the
Front End Engineering Design ("FEED") for Longonjo's power, water
and waste services, offices, workshops, camp infrastructure and
off-mine facilities including the rail and port side
facilities.
Paradigm will work alongside Wood Group's specialist rare earth
process engineering team who are managing the metallurgical pilot
plant test work underway at ALS Metallurgy in Perth, Australia.
SRK Consulting is working towards a revised Mineral Resource
estimate due in September and Snowden is preparing the open pit
mine optimisation, design and cost studies for the Bankable
Feasibility Study which is due mid-October.
CEO Tim George commented:
"We are delighted to add Paradigm to our world class team of
consultants. Paradigm has an impressive track record of delivery of
sub-Saharan African mining projects and are looking to accelerate
Longonjo's development in order that we can commence construction
in the first quarter 2021."
Paradigm Director Jeremy Clarke commented:
"Longonjo is an exciting project and fits well with our approach
to move directly from PFS directly to FEED which will significantly
reduce the time and costs associated with reaching positive cash
flows."
Authorised by the Board of Pensana Rare Earths Plc
For further information:
Pensana Rare Earths Plc
Website: www.pensana.co.uk
Paul Atherley Chairman / Tim George, CEO contact@pensana.co.uk
Buchanan (UK Financial PR) +44 (0) 207 466 5000
Bobby Morse/ Augustine Chipungu /James pensana@buchanan.uk.com
Husband
About Pensana
Pensana Rare Earths Plc is a junior mining company listed on the
main board of the London Stock Exchange and ASX. The Company has an
experienced mine development team that is rapidly developing the
large and high-grade rare earths mining project located at Longonjo
near Huambo, Angola.
The Company has recently received Angolan Presidential approval
and financial backing from the Angolan sovereign wealth fund to
develop the Longonjo Project as the world's first major rare earth
mine to be brought online in over a decade to help meet the rapidly
growing demand for the magnet metals critical for electric vehicles
and offshore wind turbines and a range of other applications
important for the transition towards a green economy.
About Paradigm Project Management
Paradigm Project Management is a project management and
engineering company that was founded in 2006 and has built up a
substantial client base and considerable experience in the design,
construction and management of large capital projects specifically
within the mining industry. Execution activities can either be done
using the classical EPCM model or using the more innovative
Paradigm Project Management Client Representative model.
Paradigm Project Management also offers project management
consulting services to clients who are looking to build their own
internal project management capability to tackle a portfolio of
capital projects. This includes the assessment of project
management maturity as well as diagnosing project performance.
Forward looking statements
This announcement may contain "forward-looking statements" with
respect to certain of the Company's plans and its current goals and
expectations relating to its future financial condition,
performance, strategic initiatives, objectives and results.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "seek", "may", "could", "outlook" or other words
of similar meaning. By their nature, all forward-looking statements
involve risk and uncertainty because they relate to future events
and circumstances which are beyond the control of the Company,
including amongst other things, United Kingdom domestic and global
economic business conditions, market-related risks such as
fluctuations in interest rates and exchange rates, the policies and
actions of governmental and regulatory authorities, the effect of
competition, inflation, deflation, the timing effect and other
uncertainties of future acquisitions or combinations within
relevant industries, the effect of tax and other legislation and
other regulations in the jurisdictions in which the Company and its
respective affiliates operate, the effect of volatility in the
equity, capital and credit markets on the Company's profitability
and ability to access capital and credit, a decline in the
Company's credit ratings; the effect of operational risks; and the
loss of key personnel. As a result, the actual future financial
condition, performance and results of the Company may differ
materially from the plans, goals and expectations set forth in any
forward-looking statements. Any forward-looking statements made in
this announcement by or on behalf of the Company speak only as of
the date they are made. Except as required by applicable law or
regulation, the Company expressly disclaims any obligation or
undertaking to publish any updates or revisions to any
forward-looking statements contained in this announcement to
reflect any changes in the Company's expectations with regard
thereto or any changes in events, conditions or circumstances on
which any such statement is based.
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END
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