London-listed Pensana has announced that, further to the £2-million facility made available to the company by two of its directors in March, chairperson Paul Atherley has sold 1.5-million ordinary shares and will use the proceeds to make £250 000 available under the facility as working capital support to the company while it finalises its main fundraising for the Longonjo rare earths refinery project in Angola. To avoid incurring interest costs, Pensana indicated on July 23 that it wishes to settle the ensuing amount due under the facility as soon as possible and intends to do so by issuing Atherly’s 1.5-million ordinary shares – being equal to the number sold by him – at an effective price of 17p an ordinary share.