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#FCM First Class Metals PLC – Grant Receipt, Tax Refund & Kerrs Gold Exclusivity
First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed metals exploration company seeking economic metal discoveries across its extensive Canadian, focused in north west Ontario land holdings, is delighted to announce the following update in regard to the Ontario Junior Exploration Program (OJEP) Grant, Canadian Goods and Services Tax/Harmonized Sales Tax credit and an Exclusivity over the Kerrs Gold Property.
Highlights
- First Class Metals (FCM) has signed an exclusivity agreement with a Canadian vendor for the Kerr’s Gold Project in Northeastern Ontario. This project holds a historic resource estimate of 386,467 Oz (ounces) of Au (gold) as per the NI-43-101 standard
- CAD$200,000 OJEP Grant received from the Canadian Ministry of Mines for the Zigzag lithium & critical metals property.
- Goods and Services Tax (GST) /Harmonized Sales Tax (HST) credit for the year ending 2023. The amount received totalled CAD$212,780.03.
James Knowles Executive Chairman Commented:
“We are pleased to have swiftly completed the necessary paperwork that enabled the release of the grant funding for our Zigzag project from the OJEP team. Our dedicated geology team (Emerald Geological Services) in Canada demonstrated professionalism and worked diligently to ensure the documentation was completed promptly, aligning with the timelines for payment release by the Canadian Fiscal Year end on March 31, 2023.
Additionally, we are pleased to receive a GST/HST refund of $212,780.03 for the full year 2023. This refund further strengthens our financial position and provides us with confidence to pursue opportunities like the Kerrs Gold Property and the other recent additions to the portfolio. These payments also give us the confidence to start the planned 2024 field work program.
During times of uncertainty and market downturns, such as those we are currently witnessing with junior metal explorer stocks, there is indeed a unique opportunity for strategic investment. First Class Metals recognizes this opportunity and believes in the proactive approach of expanding its portfolio with quality assets available at distressed prices.
Entering into an exclusivity agreement for the Kerrs Gold Property fits this remit. Located in a highly productive gold mining district with numerous active mines, the property’s low-cost entry and substantial NI-43-101 historic reportable resource of 386,467 ounces of gold make it an incredibly exciting prospect, especially with the price of gold continuously reaching new all-time highs.
By capitalising on the market turbulence and acquiring undervalued assets, First Class Metals can fortify its portfolio and position itself for future growth. This approach allows the Company to benefit from potential appreciation in asset value as market conditions stabilise and improve.
Furthermore, First Class Metals understands the importance of divestment in a well-managed portfolio. When the time is right by selectively divesting certain assets, the Company can generate capital and maximise returns on investment. This disciplined approach to divestment ensures that First Class Metals remains agile and focused on maintaining a strong and balanced portfolio.”
OJEP Grant
FCM announced on the 120 March RNS we had been awarded a $200,000 grant from the OJEP Fund for work completed on the Zigzag property, we are pleased to confirm these funds have now been received. 1polaris.brighterir.com/public/first_class_metals/news/rns/story/ry7ooyr
GST/HST Refund 2023
We have received a GST/HST tax refund for the year ended 2023 for CAD$212,780.03. Goods and Services Tax (GST)/Harmonized Sales Tax (HST) is the Canadian direct equivalent of Value Added Tax (VAT) in the United Kingdom. This refund relates to the entire year of 2023.
Kerrs Gold Exclusivity
FCM has signed a thirty day exclusivity agreement and is currently in the process of finalising commercial terms with a Canadian vendor in respect of an ‘earn in’ to acquire 100% of the Kerrs Gold Property located in the Larder Lake Mining Division of Northeastern Ontario. The property holds a resource estimate of 386,467 Oz Au resource as per an historical NI-43-101 standard.
Ends
For further information, please contact:
| James Knowles, Executive Chairman | JamesK@Firstclassmetalsplc.com | 07488 362641 |
| Marc J Sale, CEO | MarcS@Firstclassmetalsplc.com | 07711 093532 |
Novum Securities Limited
(Financial Adviser)
| David Coffman/ George Duxberry | www.novumsecurities.com | (0)20 7399 9400 |
UK Investor Magazine Podcast – CEO Alan Green discusses UK Small Cap re rate, Cadence Minerals #KDNC, ECR Minerals #ECR
Alan Green joined the UK Investor Magazine Podcast to dive into a selection of UK equities and provide scenarios for broader markets after the Autumn Statement.
This Podcast explores potential scenarios for UK markets and the catalysts for a rerating of UK mid and small caps.
We discuss Cadence Minerals (LON:KDNC) and ECR Minerals (LON:ECR).
Alan outlines the valuation case for Cadence Minerals, given the current share price and the underlying value of their portfolio of mining assets.
ECR Minerals is proceeding with a more positive tone after a change of leadership. Alan provides an update on activities.
Listen here- https://ukinvestormagazine.co.uk/a-uk-small-cap-rerate-cadence-minerals-ecr-minerals-with-alan-green/
#FCM First Class Metals PLC – Award of Exploration Permits-North Hemlo & Esa
First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed metals exploration company seeking economic metal discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam and Zigzag land holdings is pleased to announce the granting of two Exploration Permits for the Company’s North Hemlo & Esa Properties located in the Hemlo area of Ontario
First Class Metals’ stated aim was to bring four properties to drill ready status with the intention of drilling one property this field season. With the possible exception of Esa, the company is on track to achieve its aim. With the granting of the Permits, it clears the way for ‘stripping’ at both properties to further refine possible drill locations.
Highlights:
· The permits are effective for a period of three years until expiry October 2026.
· North Hemlo & Esa are now both fully permitted, allowing for a systematic programme of exploration activities, including drilling, stripping, and trenching.
Marc J. Sale First Class Metals CEO commented:
“With the granting of the Permits for these two key properties it allows FCM to advance the aim to bring its four core properties to drill ready status this year. This is a very positive move and one that would not be possible without the support of the Ontario Mines Department but importantly the First Nations for which I am personally grateful”.
North Hemlo
The granting of the Exploration permit will allow consolidation of the extensive work: prospecting, sampling, and mapping that has been undertaken along the Dead Otter trend. Stripping off of the overburden will allow a far more quantitative appraisal of the structure, specifically in the area of the historical showing (3.1ppm Au 0.59% Mo) and the extension along strike to the south east.
The area reporting 19.6ppm Au over three kilometres to the south east will also be the focus of stripping as well as drill pad construction in the anticipation of drilling.
Both locations have reported visible gold and gold being ‘panned’ from crushed rock. Furthermore, in the area of the 19.6ppm sample other samples have reported 13.6ppm and 4.6ppm Au.
The historic showing at Dead Otter zone is reporting very high values of pathfinder elements including molybdenum as well as telluride which is strongly associated with gold deposits especially in the Hemlo area, this could indicate high level in a gold system.
An additional area over 750m south east along trend from the historic showing an isolated outcrop returned 2.29ppm Au, confirming the presence of an auriferous trend. This is also a target for stripping.
Esa
The granting of the Exploration permit for the Esa property will allow stripping of the overburden in selective parts of the shear where soils samples have indicated strong gold and pathfinder element anomalism. This will potentially significantly advance the Esa property towards drill ready status.
To recap: to the end of the 2022 field season over 500 soil samples were collected predominantly along eleven lines on average 400m apart, orthogonal to an inferred 4km shear which transects the property roughly east to west. This structure was highlighted by the airborne magnetic survey. The results of the initial soil sampling were encouraging and defined an anomalous zone mimicking the inferred position of the shear. During the 2023 season ‘infill’ sampling lines were conducted in two programmes again totalling over 500 samples. The analysis results for the last programme, only recently completed, are not yet available.
Summary
First Class Metals is entering a period of significant news and progress across its four core properties. The company has made commendable strides towards achieving a “drill ready status.” Throughout the summer field campaign, extensive work has been conducted on each of these properties.
Additionally, plans are underway to initiate a drilling campaign on one of the properties before the end of the year. These developments highlight First Class Metals’ commitment to exploration and to bring ‘four projects to a drill ready status in 2023’.
For further information, please contact:
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James Knowles, Executive Chairman |
07488 362641 |
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Marc J Sale, CEO |
07711 093532 |
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Ayub Bodi, Executive Director |
07860 598086 |
First Equity Limited
(Financial Adviser & Broker)
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Jonathan Brown |
0207 3742212 |
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Jason Robertson |
0207 3742212 |
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First Class Metals PLC – Background
First Class Metals is focussed on exploration in Ontario, Canada which has a robust and thriving junior mineral exploration sector. Specifically, the Hemlo ‘camp’ is a proven world class address for gold /VMS exploration. This geological terrane has significant production, both base / precious metals and a prolific number of exploration projects and numerous prospector’s ‘showings’.
FCM currently holds 100% ownership of seven claim blocks covering over 180km² along a 150km strike of the Hemlo-Schreiber-Dayohessarah greenstone belt which also contains the >23M oz shear hosted Hemlo gold mine operated by Barrick Gold. Late last year FCM completed the option to purchase the historical high grade (gold) Sunbeam past producing mine
The significant potential of the properties for precious, base and battery metals relate to: ‘nearology’ insomuch that all properties lie close to identified mineral anomalism, for example Palladium One’s RJ and Smoke Lake nickel projects are close to the FCM’s West Pickle Lake drill proven Ni-Cu project. This also demonstrates the second critical asset the properties hold: vector, anomalies, be they geological, geochemical, or geophysical that have demonstrated mineral potential extend on to FCM’s properties.
The inferred shear on the Esa property is being explored by neighbours both to the west and east where it crosses into their properties. Furthermore, the properties have not been extensively explored either historically or more contemporaneously. This is attributable to the overall lack of outcrop. However, modern exploration techniques are better able to ‘see through’ the ground cover and to identify anomalies.
Forward Looking Statements
Certain statements in this announcement may contain forward-looking statements which are based on the Company’s expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. Such forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ‘aim’, ‘anticipate’, ‘target’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’, or other words of similar meaning. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Vox Markets Podcast – CEO Alan Green covers Harland & Wolff, Tekcapital & Versarien
Our CEO Alan Green covers;
Harland & Wolff #HARL,
Tekcapital #TEK,
Versarien #VRS
Listen here: https://www.voxmarkets.co.uk/media/64c7e273a20d3b3253d57a96/?context=/series/daily-podcast
Vox Markets Podcast – CEO Alan Green talks about: Destiny Pharma, ECR, Acuity, First Class Metals & Truspine
Our CEO Alan Green ,talks about the following companies:
Destiny Pharma #DEST
ECR Minerals #ECR
Acuity RM Group #ACRM
First Class Metals #FCM
Truspine #TSP
Listen: https://audioboom.com/posts/8339925-alan-green-talks-about-destiny-pharma-ecr-acuity-first-class-metals-truspine
UK Investor Magazine Podcast – CEO Alan Green discusses Improving UK sentiment, Tekcapital #TEK, and ECR Minerals #ECR
The UK Investor Magazine was thrilled to welcome Alan Green back to the Podcast for a deep dive into the latest developments in UK markets and analysis of UK equities.
We start with UK inflation and yesterday’s lower-than-expected reading which has boosted UK sentiment. Housebuilders have rallied significantly and we explore possible scenarios for the rest of the year.
ECR Minerals shares have ticked higher, and Alan outlines possible reasons why. He looks forward to newsflow for the rest of the year.
Tekcapital is trading at a significant discount to NAV. Alan explains why we could see a rerating in the technology company.
Listen- https://ukinvestormagazine.co.uk/improving-uk-sentiment-tekcapital-ecr-minerals-with-alan-green/?mc_cid=43709e7e0f&mc_eid=df2295942c
Vox Markets Podcast – Our CEO Alan Green discusses #GMET, #MOON & #TM1
Welcome to taking stock on…on Monday 3th July 2023
Featuring Alan Green on…
Golden Metal Resources #GMET
Moonpig #MOON
Technology Minerals #TM1
Power Metal Resources #POW – Tati Gold Project, Botswana – Exploration Update
Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces an exploration update from its 100% owned Tati Gold Project (“Tati” or the “Project”) located on the Tati Greenstone Belt (“TGB”) near Francistown, Botswana. The 2023 exploration programme including geophysics, trenching, soil sampling as well as reverse circulation (“RC”) and/or diamond drilling was launched on 26 January 2023 and the announcement providing further information may be viewed through the following link:
Highlights
– Ground geophysics and trenching have been completed with available results presented herein. A longer than usual rainy season led to the delay in the commencement of the planned infill soil geochemical sampling programme. However drier conditions have now persisted long enough for the Company to launch this next phase of work, which is expected to commence shortly.
– Detailed geological mapping of the recently completed trenches has confirmed the geological setting in the Cherished Hope Mine area which is highlighted by gold mineralisation which is concentrated within quartz reefs (massive veins, veinlets and silicified zones) hosted within predominantly diorite units.
– Analysis of ground magnetic geophysics results have highlighted the location of multiple post-mineralisation dolerite dykes which are known to persist throughout much of the TGB. Understanding the precise location of these dykes is paramount as exploration continues to progress at Tati.
– Following completion of the upcoming infill soil sampling programme – as well as the receipt of the soil assay results – next exploration steps, including planned reverse circulation and/or diamond drilling, will be finalised and communicated to the market.
Sean Wade, Chief Executive Officer of Power Metal Resources plc commented:
“I know shareholders have been keen to hear an update on Tati, and we are very pleased to be able to deliver that. We have made significant progress on this important project and we have further built our technical knowledge of the gold potential across the 8km gold-in-soil-anomaly. After the rainy season we now move into the next stage including the high-resolution infill soil sampling and, subject to review and interpretation of all results, exploration drilling. Economic processing of the tailings also remains a priority and we are actively exploring our options in that regard.
This work is being conducted in parallel with extensive other corporate and exploration activities across the Power Metal group and we anticipate regular news flow in the weeks and months ahead. Activity levels across the Company are able to accelerate, with the recently announced £2.7m financing providing considerable working capital to pursue our ambitious corporate growth objectives.”
FURTHER INFORMATION
Figure 1 – Tati Project Overview Plan Map:
Figure 2 – Tati Project Zoomed Trenching Plan Map:
EXPLORATION PROGRAMME OVERVIEW
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Exploration Work |
Latest Update |
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TRENCHING – COMPLETE A total of 431 metres of mechanised trenching has been successfully completed. Trenching was focussed along both the northwest and southeast strike-length extensions of the known outcropping gold mineralised quartz reef structures at Cherished Hope Mine. A total of 8 trenches were completed of which 3 targeted the northwestern strike-length extension and 5 targeted the southeastern strike-length extension. Trench samples, comprising 1m long composites taken along the side of the trench, were then sampled for gold (30g Fire Assay) at the ALS Laboratory in Johannesburg, South Africa. Detailed geological and structural mapping of the trenches was also completed.
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Further breakdown of trenching results are found in ‘Notable Trenching Results Section’. Northwest Extension (Trench 3, 4, 7): Overburden was determined to be between 0-1.5 meters in thickness and composed predominantly of a brown clay-rich unit overlaying a poorly sorted quartz pebble unit. The bedrock is dominated by a quartz rich diorite. Only one post-mineralisation dolerite dyke was identified within the northwestern trenches. Multiple silicified and quartz rich zones were successfully identified in the northwestern trenches. Several of these quartz-rich intervals returned elevated gold results including: seven 1m intervals in Trench 3 which returned >0.2g/t Au (up to 1.9g/t Au). Southeastern Extension (Trench 1, 2, 5, 6, 8): Overburden was determined to be between 0-3 meters in thickness and composed predominantly of a brown clay-rich unit overlaying a poorly sorted quartz pebble unit. The bedrock is dominated by a quartz rich diorite. Four post-mineralisation dolerite dykes were identified which crosscut the diorites at various locales. Multiple silicified and quartz rich zones were successfully identified including in Trench 8 where they were determined to be the most abundant (furthest southwest trench). Several of these quartz-rich intervals returned elevated gold results including: Two 1m intervals in Trench 1 returning >0.2g/t Au and two 1m intervals in Trench 5 returning >0.2g/t Au. In general, the southeastern strike-length extension of Cherished Hope is highly affected by the presence of post-mineralisation dolerite dykes. Ground magnetic geophysics results highlight that beyond the southeastern extent of the furthest southwest trench (8), there appears to be no further dolerite dykes present for some considerable distance. Notably, the quartz rubble horizon was sampled in Trench 1 which returned much stronger gold results than in any of the trench bedrock samples (17 2m samples were sent for analysis with 7 returning >0.2g/t Au as well as 3 returning >1g/t Au (up to 2.32g/t Au)). |
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GEOPHYSICS – COMPLETE A ground magnetometer geophysical survey was completed over the northwestern and southeastern strike length extensions of the Cherished Hope Mine.
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Post-mineralisation dolerite dyke swarms are found throughout much of the TGB. As a result, within many of the historical and currently operating gold mines in the TGB, mapping the precise location of these dykes (magnetic highs) is important as they often can cross-cut gold mineralisation. The 2023 ground magnetic results have successfully mapped the location and orientation of approximately six of these dolerite dykes within the survey area, including four which are proximal and/or within the Cherished Hope (“CH”) Mine area. The successful mapping of these dykes will allow for more precise and accurate drill hole siting should drilling be undertaken going forward within CH and the surrounding areas. |
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SOIL GEOCHEMISTRY – STARTING SHORTLY The planned high-resolution infill soil geochemical sampling programme is focussed on approximately 2km of strike-length along the approximately 8km long broad Au-in-soil anomaly identified at Tati. Soil samples will be collected along a grid which will be focussed to the northwest and southeast of the 2022 RC drilling area.
The high-resolution in-fill grids will focus on areas where at least two historical anomalies were identified within widely spaced soil sampling lines (on average 400m spaced lines and up to 700m line spacing). These two-point anomalies returned an impressive 2.15g/t Au and 0.84g/t Au. To date these anomalies have never been further investigated to determine the provenance of this gold mineralisation.
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Historical soil sampling completed over the majority of the Tati Project was undertaken by previous operators along generally 400m spaced lines at 40m sample spacing. This programme intends to infill the line spacing to between 100-200m by 40m so that the definition and location of already proven Au-in-soil anomalies is vastly improved. This work will then allow Power Metal to follow up with more focussed next exploration steps which could include further trenching and drilling of these new areas. By completing this work, a much larger percentage of the 8km long Au-in-soil anomaly can move to next exploration steps therefore increasing the overall attractiveness of the Project as well as the overall size of the mineralised footprint.
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REVERSE CIRCULATION (“RC”) DRILLING(1) The RC drilling will be driven by the results of prior work streams including the soil sampling. Further updates in regard to this will be announced in due course.
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RC drilling may be undertaken to test for the along strike and down dip extension of gold mineralisation intersected by trenching of the soil anomalies. In the Cherished Hope Mine area the goal is to demonstrate continuity in the major quartz reef structure width and gold grade as well as testing the currently open down-dip extension potential at depth. |
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DIAMOND CORE DRILLING(2) Diamond core drilling specifics will be dependent on results from prior work streams including soil sampling, trenching and RC drilling. Further updates in regard to this will be announced in due course.
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Diamond core drilling may be completed in order to drill test select portions of the Cherished Hope quartz reef structures. Diamond drilling provides full core rock samples, and therefore valuable information about structure, geology, and the nature of gold mineralisation. The information extracted from diamond drilling would allow the Company to gain a better understanding of the mineralised quartz reefs and surrounding wall rocks. |
Notable Trenching Results
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Trench ID |
Trench Length (m) |
From (m)* |
To (m)* |
Interval (m)* |
Grade (g/t) |
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Trench 1 |
31 |
23 |
25 |
2 |
0.32 |
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Trench 1 (rubble) |
32 |
0 |
2 |
2 |
0.33 |
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6 |
12 |
6 |
1.35 |
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18 |
20 |
2 |
0.45 |
||
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22 |
26 |
4 |
0.85 |
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Trench 3 |
52 |
31 |
32 |
1 |
0.43 |
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37 |
38 |
1 |
0.25 |
||
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44 |
49 |
5 |
0.74 |
||
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Trench 5 |
54 |
6 |
8 |
2 |
0.38 |
*Refers to lengthwise along trench (as opposed to depth).
KEY:
(1) RC drilling involves a “hammer” piston which repeatedly strikes the target rock. Simultaneously, a powerful drill-bit at the end made of tungsten rotates at high speed. This creates small chips of rock known as drill cuttings that are sucked up with a vacuum and transported to a cyclone at the surface through dedicated tubes. The drilling chips derived from each depth interval are collected in separate sample bags, and a representative sub-sample of each interval is submitted to the assay lab where the geochemical constituents and gold grade is analysed. In turn, the drill chips provide a representation of the rock types the hole encountered throughout its length, this data allows a geological log to be established.
(2) Diamond core drilling involves rotating a hollow drill bit embedded with diamonds into the ground to a certain depth before extracting the solid, intact core recovered for analysis.
QUALIFIED PERSON STATEMENT
The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.
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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Sean Wade (Chief Executive Officer) |
+44 (0) 20 3778 1396 |
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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 |
#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 |
#TEK Tekcapital PLC investee co #BELL Belluscura PLC – appoints Senior VP of Global Sales
Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces that Robert (“Bob”) Fary has joined the Company as Senior Vice President of Global Sales.
Bob has thirty-years of experience in the respiratory industry where he has held leadership roles at major oxygen concentrator manufacturers and durable medical equipment companies. During the past two decades, Bob’s industry leading team was directly responsible or contributed to the sale of over 1 million portable oxygen concentrators (“POCs”), generating revenues in excess of $1 billion.
Commenting on the hire, Robert Rauker, Chief Executive Officer, Belluscura plc, said:
“We are very excited that Bob has joined our team as we enter the next stage of growth at Belluscura. His deep knowledge of the portable oxygen concentrator sector and its channels to market will be invaluable as we build on our success to date to bring our latest generation of POCs to market.”
Bob Fary, Senior Vice President of Global Sales, commented:
“I am delighted to have joined Belluscura at this important juncture for the Company as it captures the demand in its markets for its best-in-class products. The planned launch of DISCOV-R will be another exciting step in meeting the needs of patients around the world. I look forward to working alongside the wider executive team to grow the Company’s sales in the US and beyond.”
For further information, please contact:
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Belluscura plc |
www.belluscura.com |
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Robert Rauker, Chief Executive Officer |
via MHP |
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Anthony Dyer, Chief Financial Officer |
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SPARK Advisory Partners Limited (NOMAD) |
Tel: +44 (0)20 3368 3550 |
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Neil Baldwin |
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Dowgate Capital Limited (Broker) |
Tel: +44 (0)20 3903 7715 |
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James Serjeant / Nicholas Chambers |
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MHP (Financial PR and Investor Relations) |
Tel: +44 (0)20 3128 8100 |
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Katie Hunt / Pete Lambie / Matthew Taylor |
Email: belluscura@mhpgroup.com |
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About Belluscura plc ( www.belluscura.com )
Belluscura is a UK medical device company focused on developing high performing, lightweight and portable oxygen enrichment technology used in a broad range of industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health, mobility and economic outcomes for patients, healthcare providers and insurance organisations.