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Pensana PLC on Tuesday said it is considering listing on the Nasdaq Stock Market, following interest from potential US investors and partners in its Longonjo project. Longonjo is located in Angola and is intended to develop rare earth deposits for use in electric vehicles and wind turbines. Back in July, London-based Pensana said the project’s construction was progressing on schedule and within its $217 million capital cost envelope. The company has proposed a share consolidation, so that its share price will meet the minimum eligibility standards for a US listing by the first quarter of 2026. Shareholders will vote on the proposal at the firm’s annual general meeting on December 3. Pensana noted there is no certainty of meeting Nasdaq’s requirements or receiving listing approval, both of which are necessary for its planned US debut. The company’s shares rose 4.3% to 131.88 pence on Tuesday morning in London, and have multiplied in the last 12 months. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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