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Power Metal Resources #POW – Notice of Annual General Meeting
Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announcesthat the Annual Report and Accounts for the year ended 30 September 2022 and Notice of Annual General Meeting were posted to shareholders today.
The Company’s Annual General Meeting (“AGM”) will take place at 11.00am on 30 March 2023 at Suite 53, Temple Chambers, 3-7 Temple Avenue, London, EC4Y ODT.
A copy of the Annual Report and Notice of AGM will also be available on the Company’s website at www.powermetalresources.com .
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
#GRX GreenX Metals Limited – Share Placing to UK and European Investors
GreenX Metals Limited (ASX:GRX, LSE:GRX) (GreenX or the Company) is pleased to announce that it has successfully completed a bookbuild and secured commitments for 12.4 million new ordinary shares at a price of 31 pence (A$55c) per share for gross proceeds of approximately £3.9 million (~A$6.8 million) from new and existing UK and European investors and some Australian investors. (Placing).
Together with the Company’s existing cash resources (A$2.6 million as at 31 December 2023), the proceeds of the Placing will help ensure that GreenX retains a strong balance sheet position.
The net proceeds from the Placing will be used for:
o Exploration activities in Greenland;
o Business development through identifying other suitable business opportunities in the resources sector; and
o Administrative expenses while the Arbitral Tribunal (Tribunal) decision remains pending following the recent conclusion of the hearing for the international arbitration claims (Claim) against the Republic of Poland.
In November 2022, the Company reported the conclusion of the hearing for the international arbitration claims against the Republic of Poland under both the Energy Charter Treaty and the Australia-Poland Bilateral Investment Treaty. The hearing took place in London in November 2022 and lasted two weeks. Following completion of the hearing, the Tribunal will render an Award (i.e., the legal term used for a ‘decision’ by the Tribunal) in due course with no specified date available for the Tribunal decision. As previously advised, the arbitration and hearing proceedings in relation to the Claim are required to be kept confidential.
GreenX initiated exploration activities at ARC in 2021. ARC is a significant, large-scale project (5,774km2 license area) with historical exploration results and recent analysis indicative of an extensive mineral system with potential to host world-class copper deposits.
The Company will issue the Placing shares under its capacity pursuant to ASX Listing Rule 7.1.
The Company also released an updated presentation today which can be found at https://greenxmetals.com/investors/reports-presentations/.
Forward Looking Statements
This release may include forward-looking statements. These forward-looking statements are based on GreenX’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of GreenX, which could cause actual results to differ materially from such statements. GreenX makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
#TEK Tekcapital Investee – Innovative Eyewear, Inc. Launches New Titanium Styles of Lucyd Lyte® 2.0
Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group notes that Innovative Eyewear, Inc. (“Innovative Eyewear”) (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica® and Eddie Bauer® brands, announces today that five new styles of Lucyd Lyte 2.0 audio eyewear are now available. These new styles are an addition to the 10 styles of Lyte 2.0 introduced in early February. On top of including the major feature upgrades of the Lyte 2.0 such as 12 hours playback per charge, this collection update brings several new design aesthetics to the Lucyd Lyte 2.0 line and the smart eyewear market overall:
1. The Electra frame introduces the first smart eyewear with a two-tone titanium frontplate, bringing the category to a new height of luxurious finishes.
2. The Shimmer frame introduces the first smart eyewear on the US market in a rose gold titanium colour.
3. The Earthbound introduces the best-selling clubmaster style in a Bluetooth format, another first for the US smart eyewear market.
4. The Starlyte style is a key addition developed based on user demand for a cateye style designed for women.
With the introduction of these frames, Lucyd Lyte 2.0 eyewear is now available in 15 distinct styles, the most of any smart eyewear on the US market since the company’s Lyte 1.0 collection. The combination of two different temple lengths, seven styles designed specifically for women, and three styles designed for petite heads, truly open the typically adult male-oriented smart eyewear category to new demographics for the first time.
“With these five new styles of Lyte 2.0 smart eyewear, we are continuing to make the category more accessible than ever before, particularly to women and petite customers by giving them the sizing and styles they need,” says Harrison Gross, CEO of Innovative Eyewear. “A great pair of smartglasses is defined by three key factors: fashion, tech and suitability for all-day vision correction. The Lyte 2.0 collection addresses this successfully by offering smart frames with seamless, user-friendly Bluetooth features, high-end designer styling in a large number of shapes and sizes, and the comfort necessary for all-day wear.”
Watch a video of the new glasses here. Interested retailers are encouraged to visit our booth #P1951 at Vision Expo East 2023 in New York City, or to contact us at info@lucyd.co.
In other news, the popular tech and entertainment site ScreenRant (90m+ monthly visitors) just rated Lucyd Lyte 1.0 eyewear the best on the market.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear, under the Lucyd®, Nautica® & Eddie Bauer® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives, and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.
Tekcapital currently owns 5,189,086 shares (approximately 68%) of Innovative Eyewear, Inc.
For further information, please contact:
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Tekcapital Plc |
Via Flagstaff |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
+44 (0) 20 3470 0470 |
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Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees (Corporate Broking)
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Flagstaff Strategic and Investor Communications |
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+44 (0) 20 7129 1474 |
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Tim Thompson/Andrea Seymour/Fergus Mellon |
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About Tekcapital plc
Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
Forward-Looking Statements
This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or Lucyd’s management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Innovative Eyewear Inc., Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Other than as required by relevant regulation or law, neither Innovative Eyewear Inc, Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
#KAV Kavango Resources PLC – Upgrade of B1 Conductor
Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) is pleased to announce an operational update for its Kalahari Suture Zone North (“KSZ North”) project.
STRATEGIC REVIEW
– Kavango has prioritized the cluster of three identified “B Conductors” (>>> announced 11 July 2022) on the KSZ North Project for drill testing.
– The B1 Conductor (“B1”) was recently remodelled with a conductance of 28,700 Siemens using Downhole Electromagnetic (“DHEM”) survey data. This is well into the range accepted by nickel-copper specialised geophysicists for pyrrhotite bearing massive sulphides.
– New Controlled Source AudioMagnetotelluric (“CSAMT”) data suggests that B1 lies at a lithological boundary in Karoo sediments within mudstones and gabbro sills. Kavango believes these gabbro intrusive sills could host massive sulphides if sulphur saturation has occurred.
The B3 and B4 conductors (“B3” and “B4”) have been modelled at 4,100 and 2,760 Siemens respectively. These are also in the range of possible massive sulphides.
DRILLING PARAMETERS
– Kavango intends to drill test the B Conductors and the KSZ North geology host environment at the same time, along with the geochemistry of the gabbro intrusions at/near the conductors.
– On the suggestion of a senior external advisor, the Company will also test the chemistry of historically intersected coaly sediments to determine if they represent a viable sulphur source for the system. This was postulated by Holwell and Blanks in 2020, who endorsed the KSZ North program and proposed that Karoo intrusive gabbros could undergo sulphur saturation to form massive sulphide deposits.
– Kavango believes that drilling the B Conductors could validate its entire KSZ North exploration program.
Jeremy S. Brett, Executive Director at Kavango Resources and Senior Geophysical Consultant through Jeremy S. Brett International Consulting Ltd, commented:
“The B1, B3 and B4 cluster of conductors is significant and drill ready. The high conductance of the B1 conductor modelled from the Downhole Electromagnetic data is considered by nickel-copper geophysicists to be typical of massive sulphides with pyrrhotite, which in turn can be associated with nickel mineralization. Conductance is one of the most powerful discrimination factors in nickel copper exploration.
I feel that most exploration companies exploring for nickel and copper would want a target with a conductance as high as the B1 conductor. These are also critical targets to the entire KSZ project.
Success in drilling these could confirm the presence of not only massive sulphides, but also confirm the ore deposit model proposed by Kavango and our senior advisors. This would open up the rest of the KSZ Project for intense exploration using more Time Domain Electromagnetics. The only one remaining step is to drill and find out the cause of these conductors.”
Further details
Kavango considers the KSZ North to be an advanced and high potential exploration project. The B Conductors are located at the north edge of the Great Red Spot intrusive, which was probably structurally favourable for intrusive Karoo gabbro feeders and sills that could have undergone sulphur saturation and sulphide immiscibility (per Holwell and Blanks, 2020). The Great Red Spot itself sits at the nexus of seven regional scale structures. This context is viewed as a prime location for potential ore deposits (q.v. Graham Begg, 2010).
Kavango identified B1 from Surface Time Domain Electromagnetic (“TDEM”) surveying and drill tested it in early 2022 with hole KSZDD002 (announced >>> 28 February 2022). Downhole Electromagnetics (“DHEM”) showed that the hole had narrowly missed the conductor and that it remained untested. This is not uncommon in nickel/copper exploration.
Surface TDEM surveys were expanded in 2022 to cover the B1 conductor area thoroughly for improved resolution. The new data allowed the B1 conductor to be remodelled by a leading TDEM specialist in Australia at 12,840 Siemens, which itself is well into a range for massive sulphides.
The DHEM data for B1 was also remodelled, resulting in a higher resolution on the conductor geometry and a higher conductance of 28,700 Siemens. Conductances of this magnitude are possible to resolve using DHEM since the EM sensor is closer to the causative body than with surface TDEM. Kavango is now confident that it can intersect the B1 target via drilling.
Kavango believes that B1’s conductivity could result from the presence of pyrrhotite content. Pyrrhotite is very highly conductive and often associated with the nickel-bearing mineral pentlandite in nickel/copper/platinum group element massive sulphide bodies.
Following remodelling, the new model plate for B1 now has a more discrete dimension of 255 x 440 metres using Surface TDEM, and 150 x 475 metres using DHEM data. These conform to a typical size range for massive sulphide bodies.
Kavango recently calculated the probable conductive responses of geological features other than potential massive sulphides in the Karoo in the B Conductor area, using physical properties collected from Kavango drill core. These included fossiliferous saline aquifers, coal, and coaly sediments. All calculations fell short of the range for massive sulphide bodies, this is a positive pre-drilling indicator, suggesting a low probability of these formational conductors being responsible for the B Conductors.
Under Kavango’s target ranking system in the KSZ, B1 represents a high priority drill target that should be drill tested using 2 holes plus DHEM.
While testing B1 with “out of loop surveys” for improved insight into its geometry, Kavango identified two new conductors that it named B3 and B4.
Kavango has modelled B3 and B4 at 4,100 and 2,760 Siemens respectively, and as much larger spatially than B1. Kavango has upgraded them as priority drill targets due to their proximity to B1. The Company believes they could be larger but thinner massive sulphides zones at the bases of gabbro intrusive sills. These targets will require a minimum of one hole each plus DHEM for future guidance.
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
+46 7697 406 06
First Equity (Joint Broker)
+44 207 374 2212
Jason Robertson
Kavango Competent Person Statement
The technical information contained in this announcement pertaining to geophysics have been read and approved by Mr. Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical Consultant, Jeremy S. Brett International Consulting Ltd. in Toronto, Canada. Mr. Brett is a member of the Professional Geoscientists of Ontario, the Prospectors and Developers Association of Canada, the Canadian Exploration Geophysical Society, and the Society of Economic Geologists. Mr. Brett has sufficient experience that is relevant to geophysics applied to the styles of mineralization and types of deposits under consideration to act as a Qualified Person as defined under the Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects.
#FCM First Class Metals PLC – McKellar & Magical Exploration Update
First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK metals exploration company seeking large scale metal discoveries across its extensive Canadian Schreiber-Hemlo & Sunbeam land holding is pleased to provide an exploration update on the McKellar & Magical Properties.
Highlights
McKellar Property
- “McKellar Trend” – Volcanic Massive Sulphide (“VMS”) conceptual trend supported, extending over 550m, open ‘along strike’ in both directions.
- Over 100 grab samples taken with highlights including 4.82% Zinc (Zn) 80 g/t Silver (Ag)
- Work programme further proves up conceptual VMS model and extension of historical high grade metal occurrences across the property.
- Eight contiguous claims have been staked, adjoining the southern boundary of the McKellar property.
- Proven potential for Rare Earth Elements (“REE”), further work planned.
Marc J. Sale, CEO of First Class Metals commented:
“Further encouragement from the 2022 field season includes the initial exploration results at McKellar returning significant results on the historic trend rich in zinc and silver. The mineralisation remains open, further work being warranted. There are additional compelling targets on the property including the diatreme which will be followed up in the upcoming field season. The anomalous first pass results from the initial field programme at Magical have supported the theory of a mineralisation along the sheared geological contact and further work is planned”.
“Additionally, we are still awaiting the final results for the Esa soil sampling as well as the ongoing Winter programme of the lake sediment sampling over 4 of the claim blocks. I feel confident that FCM has started the 2023 season with significant impetus.”
McKellar
The McKellar Property, comprising 58 claims, covers ~12km² and is situated in prime geological terrain within the Coldwell complex, located to the west of Generation Mining’s Palladium Project. McKellar is roughly 25 kilometres from the town of Marathon, the main service centre for Barrick’s Hemlo mine.
During the 2022 field season over 100 grab (rock chip) samples and 6 lake sediment samples were collected. Work was predominantly on the McKellar trend and nearby Alvey occurrences as well as initial work on the Rare Earth Element (“REE”) diatreme in the southern sector.
The historic ‘McKellar showing’ that contains the historic Little Pic Mine is a very prospective zone with strike extension potential localised in a shear possibly along the volcano-sedimentary contact. This is being interpreted as potential VMS style mineralisation, see figure 1.
Figure 1, the McKellar trend which contains contemporary and historically significant zinc grades as well as high grade silver.
The reported results from the 2022 season’s campaign are encouraging (sample B416205 see figure 2) and confirms that more work is required. 400 meters along strike to west-northwest, similar rock returned 1.36% Zn, 635 ppm Pb, 11.6 ppm Ag, and 550 meters along strike to west-northwest of the shaft, mafic volcanics returned 590 ppm Zn. Furthermore the ‘Alvey trend’ reported anomalous: 382 ppm & 417 ppm Zn.
At McKellar, the work to date and the historically review indicates the Zn mineralization occurs close to a volcanic-sedimentary (sheared) contact. If the mineralisation is conformable, it further enhances the concept of the VMS potential, whilst a sheared contact could infer mineralised feeder style structures. However, the McKellar Zn trend was not picked up by historic ground EM, though the Alvey trend was more responsive, possibly owing to the graphitic argillite.
Irrespective, the work by FCM has shown the McKellar trend is not ‘closed off’ and therefore the potential exists to extend the known mineralisation to the north-west.
Figure 2, containing over 4% Zn and over 2oz / tonne Ag as well as anomalous Pb.
The McKellar property also contains other significant historic showings which require contemporary exploration, not the least of which is Goldbar Lake, other additional for gold, silver, and base metals (zinc) as well as a diatreme with reported very anomalous REE values, see Figure 3
Figure 3, the McKellar Property with the other significant ‘showings’ yet to be fully explored.
Historical exploration on the property includes significant mineral occurrences, such as:
- Goldbar Lake prospect: Drill Hole P-2: 19.20-19.66m: 1.09% Copper (Cu) & 6.54% Zn and 20.88-21.98m: 0.56 g/t Gold (Au), 60.1 g/t Silver (Ag), 4.73% Cu & 0.98% Zn.
- The Little Pic (silver) ‘mine’ (McKellar trend): discovered in 1875, almost 100 years later Noranda reported a channel sample of 618.0 g/t Ag and a trench sample of 1.1m @ 32.3% Zn & 7.1% Pb, with VMS style mineralisation reportedly traced over a 600m strike ‘McKellar Trend’.
- Alvey occurrence: 4 historic drill holes in the vicinity but no assays available, however separate grab samples returned 0.28 g/t Au, 37.98 g/t Ag & 146 g/t Cu. See figure 1.
- Several diatremes, anomalous in Rare Earth Elements (“REE”) have been discovered in the area, included is the McKellar diatreme which reported historic REE values of:
| Highlighted historical assay results for selected elements (including REE’s), McKellar Creek Diatreme: | Value |
| Neodymium Nd | 300 ppm |
| Lanthanum La | 400 ppm |
| Cerium Ce | 513 ppm |
| Yttrium Y | 214 ppm |
| Strontium Sr | 1280 ppm |
At the time of discovery, it was suggested that if interest in REE was to increase, then the McKellar Creek diatreme would certainly have some potential to become part of the revived interest in REE in the Coldwell area.
Results from limited samples collected by FCM from the diatreme were anomalous, being five times crustal levels in a number of the REE samples assayed. The potential for higher values is considered realistic, in line with historical values as the available sample sites were not optimal and the original sample sites could not identified. Further work will include channel sampling and once an exploration permit is granted, possible striping if ground access allows.
Work proposed for 2023 includes:
- Formalising the Exploration Permit application.
- Further exploration along the McKellar trend.
- Systematic sampling of the diatreme.
- Initiate exploration at Goldbar Lake.
- Explore other areas identified in the historical data review.
Property Expansion by Staking
FCM recently staked a further eight (8) claims, each of 400ha contiguous and to the south of the McKellar block.
Magical
The property contains an enigmatic geochemically anomalous contact zone which requires further sampling. Located only 9km north west of the Barrick Hemlo gold mine, this 14 claims, ~2.8km² block is situated on a compelling geological contact:
- The enigmatic ‘Valley Float’ occurrence less than 1km off the property to the NE has reported >16g/t Au.
- The Gowan Lake showing to the SW, also on the inferred contact, reports ~1.5g/t Au.
- The Kusins showing also associated with the contact reports 70.87 g/t Ag, 10.7% Zn and 8.9% Pb.
Geologically, the area contains a northeast trending sequence of clastic sediments, plus subordinate amphibolite. These are bounded by the Gowan Lake Pluton in the northwest and the Cedar Lake Pluton in the southeast.
The contact between the Gowan Lake Pluton and metavolcanics is found in the east and southern areas of the property, on the basis of nearology / vector, is considered a potential host for gold mineralisation. During the 2022 field season out of a helicopter supported ‘fly’ camp 11 rock chip samples and 56 soil samples were collected, the later analysed by MMI (mobile metal ion) method see figure 4.
Figure 4 MMI sampling on the Magical property
The anomalous molybdenum (Mo) and arsenic (As) close to the northwest end of the MMI survey at the contact of the Gowan Lake Pluton is of interest and given the gold to the north and south on trend, (but off property) is a significant encouragement for the property’s potential. It is proposed that the soils lines are extended as well as further lines to the SW in order to validate the anomalism associated with the contact / shear.
Importantly the contact is interpreted as an extension of one of the inferred arcuate subparallel shears which also passes through the North Hemlo property. It is worth noting that the Barrick ‘Hemlo’ gold mine is located on a similar shear with a strong molybdenum association, see figure 5
Figure 5, shows the Magical property relative to the inferred north Hemlo shears which mimic the shear to the south which hosts the Hemlo ‘Williams’ gold mine.
Further Information:
| James Knowles, Executive Chairman | JamesK@Firstclassmetalsplc.com | 07488 362641 |
| Marc J Sale, CEO | MarcS@Firstclassmetalsplc.com | 07711 093532 |
| Ayub Bodi, Executive Director | AyubB@Firstclassmetalsplc.com | 07860 598086 |
First Equity Limited
(Financial Adviser & Broker)
| Jonathan Brown | 0207 3742212 | |
| Jason Robertson | 0207 3742212 |
#TM1 Technology Minerals PLC – Licenses in Cameroon and Funding Drawdown Update
Facility Drawdown
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that it has drawn down a further £560,000 from the £4.0 million convertible bond facility (the “Facility”) with Macquarie Bank Limited (“MBL”) and Atlas Capital Markets LLC (“ACM”) as detailed in the Company’s announcement on 9 December 2022. Following this, a total of £1,060,000 of the Facility has been drawn down.
This convertible bond tranche has a coupon of 5% per annum over the SONIA rate, payable quarterly in cash or in shares at the Company’s discretion. As part of the agreement, MBL and ACM can convert the convertible bonds to Technology Minerals shares (“Shares”) by issuing a conversion notice with the price set at 90% of the 3-day Volume Weighted Average Price of the Shares, where the three days may be consecutive or not and are selected by MBL or ACM (as applicable) from the 20 days prior to the issue of a conversion notice by MBL or ACM. The convertible bonds shall have a maturity of two years from issuance.
Conversion Notice and Total Voting Rights
In addition, Technology Minerals announces that it has received further Conversion Notices from Macquarie Bank Limited (“MBL”) for a total of £210,000 of Convertible Bonds of the first £500,000 tranche drawn from the £4.0 million convertible bond facility (the “Facility”).
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Conversion Notice Date |
Amount Converted (£) |
Number of shares |
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17.02.2023 |
100,000 |
10,068,972 |
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20.02.2023 |
90,000 |
9,062,075 |
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23.02.2023 |
20,000 |
2,013,794 |
Technology Minerals will issue 21,144,841 ordinary shares of £0.001 per share (“Ordinary Shares”) at a conversion price of 0.993150p per Ordinary Share.
Admission and Total Voting Rights
Application will be made for the 21,144,841 new ordinary shares, which will rank pari passu in all respects with the existing ordinary shares of the Company, to be admitted to the Standard List segment of Official List and to trading on the main market of the London Stock Exchange plc, which is expected to occur on or around 8.00 a.m. on 3 March 2023 (“Admission”). Upon Admission, the total number of issued shares and the total number of voting rights in the Company will be 1,333,482,275.
The above figure of 1,333,482,275 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
Cameroon exploration permits validated and granted to Technology Minerals
Further to the announcement on 27 June 2022, Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce the Cameroon Ministry of Mines, Industry and Technological Development has confirmed that the five exploration permits at the Technology Minerals Cameroon (“TMC”) Property have been validated under Cameroon law and granted to the Company.
The property covers an area of 2,456km² in south-eastern Cameroon, proximal to the world-class Nkamouna nickel-cobalt laterite deposit, 600km by road east of the port city of Douala, and 400km by road east of the capital of Yaoundé. At least three of the permits are in areas considered prospective for nickel-cobalt rich laterite.
To date, TMC has performed a reconnaissance exploration on the five permit areas, which entailed geochemical evaluation, soil sampling, and lithogeochemical (rock) sampling. With the approval of the permits finalised, the Company plans to continue further exploration and perform a more detailed remote sensing study of the area for Nickel, Cobalt and Manganese.
Alex Stanbury, CEO of Technology Minerals, said: “We are pleased to receive confirmation that these exploration permits have been validated and awarded to the Company. With the prospect located near the world-class Nkamouna nickel-cobalt laterite deposit and covering around 2,500km2 in an area considered prospective for nickel and cobalt, we look forward to further exploration work to increase our understanding of the prospect’s potential.”
Enquiries
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
c/o +44 (0)20 4582 3500 |
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Oberon Investments Limited |
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Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
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Arden Partners Plc |
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Tim Dainton, Louisa Waddell |
+44 (0)20 3829 5000 |
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Gracechurch Group |
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Harry Chathli, Alexis Gore, Rebecca Scott |
+44 (0)20 4582 3500 |
#KAV Kavango Resources PLC – Strategy Update
Kavango Resources plc (LSE:KAV) (“Kavango”), the Southern Africa focussed metals exploration company, has completed its strategic review (the “Strategic Review”). The scope of the Strategic Review was to perform a detailed analysis of the Company’s current projects, its operations in Botswana, its commodity focus, opportunities for regional expansion and outline the swiftest path to delivering a maiden economic resource.
The key outcomes of the Strategic Review include:
I. Botswana Exploration
Kavango’s technical team will execute the Company’s updated exploration plan in Botswana, with the support of external expert exploration geologists. Over 2023, Kavango will conduct focussed exploration on the Great Red Spot (“GRS”) in the Kalahari Suture Zone (“KSZ”), which will include drilling the B Conductors. Kavango will also continue further fieldwork and drilling in the Kalahari Copper Belt (“KCB”) across its Karakubis block and investigate the Iron Oxide Copper Gold (IOCG) model for the GRS and the precious metal potential at Ditau.
II. Botswana Project Financing
In parallel to the Botswana exploration plan, Kavango’s commercial team will seek direct project funding to finance 2-year exploration programmes for the Company’s KSZ, KCB and Ditau projects. Kavango has advanced all three projects to the point where direct finance will enable the Company to pursue much more extensive exploration. Expanded exploration programmes will include more widespread surveying (geophysical and geochemical), sharper targeting and extensive drilling. Kavango believes securing one or more project finance partners would significantly increase the chances of success in Botswana.
III. Portfolio Expansion
Kavango will seek to acquire prospective metal exploration projects, with the potential for near-term economic discoveries, in Southern Africa. Following completion of its strategic financing in Q4 2022, Kavango is well-positioned to take advantage of liquidity weakness in the global exploration sector. The Company has put together a skilled exploration team, built a strong regional presence in Botswana and identified a pipeline of possible acquisition targets. The Company has been evaluating a number of these opportunities and is at advanced stages of due diligence for two possible acquisitions.
Ben Turney, Chief Executive Officer of Kavango Resources, commented:
“We have built a team at Kavango that is ready to make economic metal discoveries.
In the last four months, we’ve completed a major strategic financing at Kavango, strengthened our board, and significantly sharpened our technical capabilities. We’ve developed innovative methods for using modern surveying technologies and have recruited expert exploration geologists to guide our programmes.
It is vital that we now build on this strong foundation by delivering success in the field.
Today’s strategic update describes how we intend to achieve this.
More detail will follow, as we look to deliver improved results over the course of 2023.”
Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.
For further information please contact:
Kavango Resources plc
Ben Turney
bturney@kavangoresources.com
+46 7697 406 06
First Equity (Broker)
Jason Robertson
+44 207 374 2212
Power Metal #POW – Insider Non-executive Director Options Extension
Power Metal Resources plc (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an insider Non-executive Director options update.
Insider Option Update
Scott Richardson Brown (POW Chairman) and Ed Shaw (POW Non-executive Director) (together the “Directors”) previously received 5,000,000 options each to acquire new ordinary shares in the Company of 0.1p at an exercise price of 1.0p (“Director Options”). The Director Options had an original expiry date of 19 February 2023 (“Exercise Date”).
The Directors were unable to exercise the Director Options for an extended period of time and an exercise of the Director Options is precluded at this time due to a close period in respect of the planned release of the Company’s Financial Accounts for the year ended 30 September 2022 and due to information held in respect of various corporate and exploration work programmes which includes but is not limited to:
§ Exploration data and interpretation in respect of the:
– completed drill programme at the Molopo Farms Complex in Botswana,
– ongoing exploration at the Tati Gold Project in Botswana,
– ongoing drilling in the Victoria Goldfields;
§ Ongoing activities in respect of planned disposals including spin-out IPOs.
§ Other corporate activities.
Director Option Extension
Recognising the Directors are unable to exercise the Director Options, the Company has granted a six-month extension to the Director Options to a new Exercise Date of 19 August 2023 (the “Option Extension”).
Related Party Note
The extension of the exercise date for the Director Options held by Scott Richardson Brown, and Ed Shaw as outlined above, have been treated as a related party transaction pursuant to AIM Rule 13 of the AIM Rules for Companies.
Paul Johnson and Owain Morton, being the independent directors for the purposes of the Option Extension consider, having consulted with the Company’s nominated adviser, SP Angel, that the extension of the expiry date to 19 August 2023 of the Director Options held by Scott Richardson Brown and Ed Shaw, to be fair and reasonable insofar as the Shareholders are concerned.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information please visit https://www.powermetalresources.com/ or contact:
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Power Metal Resources plc |
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Paul Johnson (Chief Executive Officer) |
+44 (0) 7766 465 617 |
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SP Angel Corporate Finance (Nomad and Joint Broker) |
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Ewan Leggat/Charlie Bouverat |
+44 (0) 20 3470 0470 |
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SI Capital Limited (Joint Broker) |
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Nick Emerson |
+44 (0) 1483 413 500 |
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First Equity Limited (Joint Broker) |
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David Cockbill/Jason Robertson |
+44 (0) 20 7330 1883 |
#TEK Tekcapital Plc – Notification of Investor Presentation
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF), the UK intellectual property investment group focused on transforming university technologies into valuable products that can improve people’s lives, is pleased to announce that Dr. Clifford Gross, the Company’s Chief Executive Officer, will be holding a live Investor Q&A session via the Investor Meet Company platform on 27 February 2023 at 4pm (UK Local time).
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet Tekcapital plc via:
https://www.investormeetcompany.com/tekcapital-plc/register-investor
Investors who already follow Tekcapital plc on the Investor Meet Company platform will automatically be invited.
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
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Tekcapital Plc |
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Via Flagstaff |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
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+44 (0) 20 3470 0470 |
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Richard Morrison/Charlie Bouverat (Corporate Finance) |
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Abigail Wayne (Corporate Broking) |
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Flagstaff Strategic and Investor Communications |
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+44 (0) 20 7129 1474 |
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Tim Thompson/Andrea Seymour/Fergus Mellon |
Tekcapital@flagstaffcomms.com |
#TM1 Technology Minerals Plc – Update on EA Licence for Wolverhampton Plant
Technology Minerals Plc
(“Technology Minerals” or the “Company”)
Update on EA Licence for Wolverhampton Lithium-ion Battery Recycling Plant
Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its 49% owned battery recycling business, Recyclus Group Ltd (“Recyclus”), has been provided with a Schedule 5 Notice by the Environment Agency (“EA”) for its variation of environmental licence application for its Lithium-ion recycling plant in Wolverhampton, West Midlands.
The Schedule 5 Notice is the final stage before a licence is determined which if successful will enable the plant to commence recycling operations. Under paragraph 4 of Part 1 of Schedule 5 of The Environmental Permitting (England & Wales) Regulations 2016, the EA has asked Recyclus to provide clarification regarding its fire/disaster planning and minor questions around the processes of the plant. The company is in the process of responding to the information requested, after which it expects the licence determination to be received shortly thereafter.
Once the site is fully operational, the Wolverhampton plant will be the first in the UK with the capacity to recycle lithium-ion batteries on an industrial scale and will be a key foundation of Recyclus’ ambition to increase its lithium-ion battery recycling capacity from an estimated 8,300 tonnes in the first full year of operations, to circa 41,500 tonnes by 2027.
Robin Brundle, Chairman of Technology Minerals, said: “We are pleased to have received the Schedule 5 from the EA, as it gives us a clear indication that the process of grant of licence is in its final stages. Upon receipt of the licence, for the first time, the UK will have an industrial scale recycling capability for lithium-ion batteries. Over the past few months, interest in our plant has increased significantly and we are in advanced discussions with companies and organisations from UK and across the globe. We look forward to progressing these once we have received the licence.”
Enquiries
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Technology Minerals Plc |
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Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer |
c/o +44 (0)20 4582 3500 |
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Oberon Investments Limited |
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Nick Lovering, Adam Pollock |
+44 (0)20 3179 0535 |
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Arden Partners Plc |
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Tim Dainton, Louisa Waddell |
+44 (0)207 614 5900 |
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Gracechurch Group |
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Harry Chathli, Alexis Gore, William Dobinson |
+44 (0)20 4582 3500 |
Technology Minerals Plc
Technology Minerals is developing the UK’s first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. With the increasing global demand for battery metals to supply electrification, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at www.technologyminerals.co.uk