Highlights

• Pensana Plc plans AGM on December 3, 2025.
• Proposing share consolidation to prepare for potential Nasdaq listing by Q1 2026.
• The Longonjo rare earth project in Angola aims to provide critical neodymium and praseodymium for magnet supply chains outside China.
• Company seeks to align with U.S. strategic interests in securing alternative rare earth supply routes.
• Company aims to attract American institutional investors.

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Pensana Plc (opens in a new tab) (LSE: PRE) has announced that its Annual General Meeting (AGM) will be held on December 3, 2025, where the board intends to propose a share consolidation to prepare the company for a potential Nasdaq listing in the U.S. by Q1 2026.

This move follows rising U.S. interest in Pensana’s flagship Longonjo rare earth project in Angola, a critical source of neodymium and praseodymium (NdPr) for magnet supply chains.

Why This Matters

The proposed consolidation goes beyond technical housekeeping — it underlines Pensana’s growing U.S.-facing strategy at a pivotal moment for Western supply chains.

• Longonjo is now fully financed and under construction, representing the largest undeveloped rare earth deposit and a resource base greater than MP Materials’ Mountain Pass.
• It is currently the only major rare earth mine scheduled to come online ahead of the U.S. government’s 2027 ban on imports from China, positioning Pensana as a first mover in the reshoring of critical materials.
• Pensana is also building out a “mine-to-magnet” supply chain in the United States through strategic partnerships with ReElement Technologies and others — aligning its development timeline with Washington’s industrial policy.

If Nasdaq approves, the listing would give Pensana visibility with U.S. institutional investors and further strengthen its positioning as a key link in the Western rare earth supply chain.

Rare Earth Exchanges (REEx) Insight

Rare Earth Exchanges recently featured Chairman Paul Atherly in an interview on the company’s U.S. pivot and ex-China strategy.
See: “Pensana Plc Charting A New Ex-China Rare Earth Supply Route and Model for Africa and America.”

Work to Do

While Pensana’s financing and construction milestones mark significant progress, the company’s next steps will include:

• Delivering construction and commissioning milestones at Longonjo on schedule.
• Advancing its downstream partnerships to secure U.S.-aligned magnet manufacturing capacity.
• Educating U.S. investors about its differentiated positioning in the global rare earths market.
• Managing share consolidation impacts on retail holders while leveraging the Nasdaq listing for capital access and liquidity.

Stock Lens: Fundamentals & Technicals

Fundamentals

Pensana is transitioning from developer to producer. With Longonjo financed and in construction, execution risk now shifts to project delivery and integration of downstream partnerships. The company’s vision — linking Angola’s resource base to a U.S. magnet supply chain — aligns closely with Western critical mineral policy and investor sentiment.

Technicals

On the LSE, shares have been trading under pressure but may see renewed interest as construction progress is confirmed and U.S. listing preparations advance. The consolidation could lift the nominal share price above Nasdaq’s threshold and broaden the investor base.

Source: Pensana Plc, Date of Annual General Meeting and Proposed Share Consolidation, Company Announcement, September 30, 2025.

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