| Market cap (m) | £341.1 |
| Enterprise value (m) | £353.3 |
Pensana PLC is an active Angolan and Saltend focused mineral exploration and development company. Its project includes Longonjo development project and the Saltend development project. The company has a presence in Saltend and Angola.
Last Updated: 18/04/2026
Pensana confirmed receipt of the first USD15 million tranche of the USD165 million strategic investment from Cascade Natural Resources. Cascade subscribed for 14.0 million new shares for a 3.8% stake. Cascade will invest the remaining USD150 million into Sable Min Unipessoal Lda for a 38.2% stake; Sable is majority shareholder in Ozango Minerais SA.
Cascade Chair Lloyd Pengilly will be invited to join Pensana’s board upon completion, along with one other Cascade nominee. Pensana said the strategic investment, alongside the proposed USD160 million ABSA debt funding package, will fund Longonjo’s construction, including a drilling programme targeting a one billion tonne resource and a HREE recovery facility ahead of first production scheduled for next year.