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#MNRG MetalNRG Plc – TR-1: Standard form for notification of major holdings
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GB00B15FS791
Issuer Name
METALNRG PLC
UK or Non-UK Issuer
UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Edward Peter John Spencer
City of registered office (if applicable)
Milton Keynes
Country of registered office (if applicable)
United Kingdom
4. Details of the shareholder
|
Name |
City of registered office |
Country of registered office |
|
Edward Peter John Spencer & Sarah Louise Spencer |
5. Date on which the threshold was crossed or reached
08-Sep-2021
6. Date on which Issuer notified
08-Sep-2021
7. Total positions of person(s) subject to the notification obligation
|
|
% of voting rights attached to shares (total of 8.A) |
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2) |
Total of both in % (8.A + 8.B) |
Total number of voting rights held in issuer |
|
Resulting situation on the date on which threshold was crossed or reached |
10.000000 |
0.000000 |
10.000000 |
101021946 |
|
Position of previous notification (if applicable) |
9.210000 |
0.000000 |
9.210000 |
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
|
Class/Type of shares ISIN code(if possible) |
Number of direct voting rights (DTR5.1) |
Number of indirect voting rights (DTR5.2.1) |
% of direct voting rights (DTR5.1) |
% of indirect voting rights (DTR5.2.1) |
|
GB00B15FS791 |
101021946 |
10.000000 |
||
|
Sub Total 8.A |
101021946 |
10.000000% |
||
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Number of voting rights that may be acquired if the instrument is exercised/converted |
% of voting rights |
|
Sub Total 8.B1 |
||||
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
|
Type of financial instrument |
Expiration date |
Exercise/conversion period |
Physical or cash settlement |
Number of voting rights |
% of voting rights |
|
Sub Total 8.B2 |
|||||
9. Information in relation to the person subject to the notification obligation
1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.
|
Ultimate controlling person |
Name of controlled undertaking |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
08-Sep-2021
13. Place Of Completion
London
MetalNRG #MNRG – GoldRidge Gold Project Update
MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, provides an update on progress made at its 100% owned GoldRidge Gold Project in Arizona following our announcement made on 19th May 2021 in which it explained that an initial programme of data compilation was essential to recover and assimilate the substantial number of maps and quantity of digital and paper files into a useable archive. This work has now been completed within budget and the timeframes set.
Following the completion of the Company’s Competent Persons Report updated by SRK USA, in May 2021, MetalNRG set out to further develop the GoldRidge property. The CPR pointed to larger than previously known opportunities at the project and specifically SRK believe that:
– Turn-key prospects to develop vein-hosted mineral resources from drilling are available
– That the project offers great opportunities to discover satellite gold deposits worth pursuing as the exploration is low cost
In June 2021, the Company’s Geologist, Bart Stryhas, Senior Geologist, PhD CPG, based in the USA and leading the project, set out to:
– Review all claims and ensure all property claims were up to date
– Consolidate all available historical information on the property into a detailed data room
– From the consolidation of the information, the Company developed detailed topography covering all claim areas in UTM NAD 83 datum
– Map underground geometries for all development and mining stopes at Gold Prince &
Dives Mines
– Integrate 446 historic Drillholes with Au and Ag analyses totaling 11km
– Locate 170 surface rock samples with Au analysis
– Compile 280 soil geochemical assays with multi elemental analysis
– Digitize all roads and trails about and internal to the claim area
– Locate claim corners
– Register several geologic maps at various scales
– A total 5,109 files have been reviewed and used as feed into our development approach
The work completed gives us a solid understanding of the history of the project, the potential it could offer and a clear pathway to add substantial value to the project. It has identified a number of areas that have shown, via our field work, that mineralisation is present but has never been explored in any detail.
Our findings have been summarised in a new GoldRidge Project presentation which can be viewed on our web site www.metalnrg.com.
Rolf Gerritsen, CEO MetalNRG Plc, commented “The GoldRidge Project appears to offer a considerable larger opportunity than previously anticipated and the work completed to date by Bart confirms that the area has been under explored and under developed with solid indicators of mineralisation throughout the property. Between now and November we will be on site and we will further validate our assumptions via detailed field work. We have the waste dumps and the remaining pillars that are available to us but going after them without a plan to capture the additional opportunities would not be right to ensure we maximise returns for our shareholders.”
For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of the Company is Rolf Gerritsen, Chief Executive Officer.
Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He has reviewed the update and consents to the inclusion of the exploration information in the form and context in which it appears here. He is a Competent Person for the purposes of the reporting of these results.
END
Contact details:
|
MetalNRG PLC Rolf Gerritsen |
|
|
Corporate Adviser |
+44 (0) 20 7469 0930 |
|
Corporate Broker |
+44 (0) 1483 413500 |
Alan Green discusses MetalNRG #MNRG & ECR Minerals #ECR on the Stockbox Research podcast
Alan Green discusses MetalNRG #MNRG & ECR Minerals #ECR on the Stockbox Research podcast
MetalNRG #MNRG – BritNRG Operational Update
MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, provides an operational update on BritNRG Limited (“BritNRG”) covering production and revenues, asset development and key activities over the last few months.
Production and revenues update
- BritNRG is currently producing an average of 3,500 bbls/month compared with production of less than 1,500 bbls/month averaged in Q1 2021.
- BritNRG sold 3,780 bbls in July at an average price of USD 73.88 per barrel (equivalent to USD 280,000 of gross revenue). Similar levels of sales have been achieved in August with monthly oil sales projected to exceed 4,000 bbls.
- BritNRG’s Operating Partners have agreed cost recovery of 100% of production, which will provide BritNRG with cashflow advantages.
- BritNRG now expects the revenues from the Whisby site to be in excess of USD 2.5 million per year at current forecast oil prices.
- The above achievements are the effects of the operational improvements carried out during 1H 2021. As a result, BritNRG is now profitable.
Update on development of current asset base
- Following a presentation of the outlined development plans by BritNRG to the Oil and Gas Authority, the abandonment notice on EXL-141 Newton on Trent has been postponed to June 2023, allowing time to submit a detailed development plan for formal approval.
- The abandonment notice for EXL-294 Reepham has been postponed to Q3 2022, allowing BritNRG time to develop a more detailed abandonment plan and explore viable redevelopment options (see below) to the base case site abandonment and licence relinquishment.
Key activities on current assets and new ventures
- Whisby Site improvements continue including testing and overhaul of all wellheads and other key activities in liaison with the regulatory authorities.
- BritNRG is progressing a feasibility study to repurpose the suspended well on Reepham (which watered out in 2005) and to redevelop the brownfield site which, potentially, will benefit from an existing planning application, recently approved for development, for a nearby 50-hectare green energy hub due for construction in 2022-2023.
Pierpaolo Rocco, Executive Director and CEO of BritNRG, commented “Our journey has just begun, and we are happy to continue to report solid progress on important fronts. We are taking the necessary time to develop our medium-term strategy, the benefits of which we intend to share with MetalNRG investors in Q4 2021, whilst we progress key activities related to the plan for BritNRG to be listed on the London Stock Exchange in 2022.”
Rolf Gerritsen, CEO MetalNRG Plc, commented “the encouraging news from BritNRG is confirmation of our strategy to invest in near term cash-generative projects and particularly of our decision to invest in BritNRG, we look forward to reporting on our ongoing progress”.
The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.
THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (“EUWA”)) (“UK MAR”).
END
Contact details:
| MetalNRG PLC Christopher Latilla-Campbell |
+44 (0) 20 7796 9060 |
| Corporate Adviser PETERHOUSE CAPITAL LIMITED Lucy Williams/Duncan Vasey |
+44 (0) 20 7469 0930 |
| Corporate Broker SI CAPITAL LIMITED Nick Emerson |
+44 (0) 1483 413500 |