Home » Posts tagged 'MetalNRG'
Tag Archives: MetalNRG
Alan Green covers Rome Resources #RMR, MetalNRG #MNRG & Guardian Metal Resources #GMET on this week’s Stockbox Research Talks
Alan Green covers Rome Resources #RMR, MetalNRG #MNRG & Guardian Metal Resources #GMET on this week’s Stockbox Research Talks
MetalNRG #MNRG – Gold Ridge – Results from Geochemical Sampling
MetalNRG plc (“MetalNRG” or the “Company”) announces that it has completed its Phase I geochemical campaign at its Gold Ridge Gold mine property in Arizona with very encouraging results that pave a pathway to further exploration work to be focussed and planned.
Highlights:
· Soil Geochemistry has provided evidence for multiple geologic events including
the offset of Apache Pass Shear Zone (APSZ) at eastern termination of historic mining.
· This offset implies that historically mined gold mineralization is transposed northwards where no exploration drilling has occurred.
· A new linear gold anomaly has been defined in the Southern PC block which parallels the APSZ as a multi-element geochemical anomaly.
· A new significant multi-element geochemical anomaly occurs 1km west of the Dives Mine.
· Copper anomalies in volcanic rocks show strong evidence for radial fracturing, a common feature of porphyry deposits.
· The findings of the geochemical program encourages the Company to conclude that the area may host a larger mineralization system controlling all the surface mines and showings.
MetalNRG has completed just under 600 (Phase I) of the 1,000 geochemical samples planned. The laboratory analysis was conducted for Gold, Silver and 49 other elements by ALS Chemex. The largest gold anomalies were found in historical areas mined for gold; however, a secondary zone of gold anomalies was found in an area previously unexplored and delineates a new linear zone of gold mineralization in the Southern Precambrian block.
All sample results to date show:
· Gold above 25ppb = 14%
· Silver above 0.3ppm = 38%
· Lead above 35ppm = 47%
· Copper above 35 ppm = 40%
· Zinc above 115 ppm = 33%
Bart Stryhas, Senior Geologist on the project, commented: “These results confirm our previous beliefs, that there is indeed a real possibility of a larger un-discovered gold/base metal system at Gold Ridge; we are now working with the Board to establish the next steps.”
For more information, MetalNRG will make a PowerPoint presentation available on its website www.metalnrg.comunder the ‘Projects’ sections.
Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He has reviewed the update and consents to theinclusion 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 |
+44 (0) 20 7796 9060 |
|
Corporate Broker |
+44 (0) 20 7469 0930 |
|
Corporate Broker |
+44 (0) 1483 413500 |
MetalNRG #MNRG – Exclusive Agreement to Source Debt for Waste to Energy Projects
MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, is pleased to announce that it has agreed an exclusive remit for AdviCorp PLC to source a £20 million to £40 million debt facility to be invested on a project by project basis in identified, qualified and “shovel ready” waste to energy projects in Europe.
Following MetalNRG and EQTEC plc (AIM: EQT) entering into a Business Development Partnership (as previously announced on 22 March 2021) extensive work has been completed by the partnership to secure exclusivity and develop a pre-qualified secured pipeline of waste-to-energy and waste-to-fuels projects. These projects are expected to deliver revenues within 6 to 18 months of funding. The first project is already under construction in Italy.
The focus of our pipeline development has been on identifying and securing a number of mature projects that can deliver rapid revenue generation and meet the requirements for debt investment. The partnership has developed a 2-tier pipeline of projects along the following qualifications:
Tier 1: Projects that have successfully achieved financial close, to be revenue generating by the end of 2022, with a typical investment of between £2 million to £10 million, delivering an unleveraged IRR of between 12% to 16% with all the requirements for debt financing in place.
Tier 2: Projects ready to achieve financial close and construction to start in Q2 to Q4 2022, typical investment between £5 million and £10 million per project and leading to revenue within a maximum of 18 months from funding.
AdviCorp PLC, established in London in 1997 with offices in both London and Rome, is an independent investment banking firm operating in the areas of Corporate Finance, Mergers and Acquisitions. AdviCorp works with dynamic companies looking to grow their businesses. The AdvCorp team has decades of international experience in multiple financial products and markets, earned in prior executive roles in international investment banks and corporations.
AdviCorp PLC is authorised and regulated by the Financial Conduct Authority.
MetalNRG and AdviCorp have entered into an exclusive agreement that will see AdviCorp advise on securing a debt facility to be drawn down on a project by project basis.
Rolf Gerritsen commented “The agreement with AdviCorp strengthens the foundation to our development plan with EQTEC and our business partnership. The access to debt will enable MetalNRG to further develop a wider portfolio of waste to energy projects that will give us substantial flexibility.
I am delighted that AdviCorp has agreed to work with us as its reputation for delivery is outstanding. I very much look forward to supplying the market with additional information as we progress this extremely exciting project.”
END
Contact details:
|
MetalNRG PLC Rolf Gerritsen |
+44 (0) 20 7796 9060 |
|
Corporate Broker |
+44 (0) 20 7469 0930 |
|
Corporate Broker |
+44 (0) 1483 413500 |
MetalNRG #MNRG – Update on Company’s EQTEC Italia Investment & Issue of Convertible Loan Notes
Following the trading update released to market by EQTEC plc (AIM: EQT) on 1 February 2022, the Company is pleased to provide an update on progress made at its investment project in Italy.
In October, EQTEC’s work with partners on the recommissioning of EQTEC Italia MDC SRL in Tuscany, Italy (“Italia MDC”) progressed with the site fully cleaned and relevant components disassembled and cleared.
In December, EQTEC Italia ordered core technology components and all deliveries were made on schedule. The 1MWe plant will convert multiple types of biomass feedstock into heat, power and/or fuel for local businesses and residents.
Once operational, Italia MDC is expected to generate annual plant revenues of c. 2,000,000, with plant EBITDA of c. 750,000.
The Company currently owns 26.6% of Italia MDC. In January 2022, Company Directors visited the site with fellow shareholders and reviewed progress with local construction partner COS.M.I. SRL.
The meeting also addressed the potential for further commercial opportunities for the plant, including production of high-quality biochar and construction of additional infrastructure to accommodate higher-margin feedstock and further offtake alternatives.
EQTEC is undertaking feasibility assessments now and expects to complete them in Q1 2022.
MetalNRG Chief Executive, Rolf Gerritsen, commented “Good progress is being made toward recommissioning the Italia MDC plant in 2022 and we look forward to our ongoing working relationship with EQTEC. The partnership is a solid development opportunity and investment, allowing us to support the social, environmental and economic improvements that a sustainable approach to waste-to-energy can have.”
Separately, MetalNRG (LON:MNRG) today announces that it has agreed to issue up to £200,000 of Convertible Loan Notes (“CLN”) to Global Investment Strategy UK Limited (“GIS”).
The CLN carry the following conditions; the CLN are fixed rate, unsecured loan notes carrying a simple, non-compounding interest rate of 10% per annum (accruing on a daily basis).
The CLN are repayable, if not previously converted, on the applicable maturity date. The maturity date will be , either:
(a) the date falling 6 months after the date of execution of the CLN instrument or
(b) the date of the first material equity fund raising by the Company following the date of execution of the CLN instrument.
Holders of the CLN may convert the principal and interest into new ordinary shares in the capital of MetalNRG (“New Shares”) at a price equal to a 20% discount to the average price at which New Shares are issued by MetalNRG.
The CLN instrument contains customary events of default and should an event of default occur, the conversion price will be equal to the nominal value of MetalNRG ordinary shares.
Conversion of the CLN is subject to the Company maintaining sufficient headroom within the Company’s share authorities or, if required, the Company filing a secondary prospectus which will enable the admission to listing and trading of the further New Shares to be issued on conversion.
A copy of the CLN Instrument will be posted on the Company’s web site.
END
Contact details:
|
MetalNRG PLC Christopher Latilla-Campbell
|
|
|
Corporate Broker Duncan Vasey |
+44 (0) 20 7469 0930 |
|
Corporate Broker |
+44 (0) 1483 413500
|
Alan Green covers MetalNRG #MNRG and Bidstack #BIDS on this week’s Stockbox Research Talks
Alan Green covers MetalNRG #MNRG and Bidstack #BIDS on this week’s Stockbox Research Talks
MetalNRG #MNRG – Holdings in Company
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
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
25-Oct-2021
6. Date on which Issuer notified
25-Oct-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 |
7.000000 |
0.000000 |
7.000000 |
72465363 |
|
Position of previous notification (if applicable) |
3.000000 |
0.000000 |
3.000000 |
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 |
72465363 |
7.000000 |
||
|
Sub Total 8.A |
72465363 |
7.000000% |
||
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
25-Oct-2021
13. Place Of Completion
London
MetalNRG #MRNG – Italian Waste to Energy Plant Update
MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, is pleased to provide an update on progress being made on the recommissioning of EQTEC Italia MDC waste-to-energy plant.
MetalNRG is part of a consortium of co-investors, led by EQTEC plc (AIM: EQT) (“EQTEC”), which recently formalised the intention to recommission the 1 MW biomass-to-energy plant in Tuscany, Italy.
The facility, originally commissioned in 2015, is built around EQTEC Advanced Gasification Technology and when operational, Italia MDC will transform straw and forestry wood waste sustainably sourced from local farms and forests into green electricity and heat for the local community.
EQTEC recently stated that recommissioning of the project is continuing on track, with recent developments including that:
· the EQTEC technical team has been on site, completing engineering surveys, as well as meeting EPC partners and local stakeholders;
· the site has been fully cleaned;
· disassembly of relevant components was completed earlier this month; and
· EQTEC Advanced Gasification Technology and associated technology items, including the syngas filter, water treatment unit, heat exchanges and thermal cracker reactor burner, have now been ordered and deliveries are due to start arriving in late November.
We announced to the market at the financial close of this transaction that we expected the plant to be fully recommissioned by Q2 2022. We are confident, at this stage of proceedings, that this announced time-line will be maintained. We expect to provide another update on progress to the market in early 2022.
A series of pictures can be viewed on the Company’s web site, www.metalnrg.com .
The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.
END
Contact details:
|
MetalNRG PLC Rolf Gerritsen |
+44 (0) 20 7796 9060 |
|
Corporate Adviser |
+44 (0) 20 7469 0930 |
|
Corporate Broker |
+44 (0) 1483 413500 |
#MNRG MetalNRG – Directorate Change
MetalNRG (LON:MNRG), the natural resources and energy investment company, announces that Pierpaolo Rocco, a Director, has resigned from the Board.
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014:
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.
END
Contact details:
|
MetalNRG PLC Rolf Gerritsen |
|
|
Corporate Adviser Duncan Vasey |
+44 (0) 20 7469 0930 |
|
Corporate Broker |
+44 (0) 1483 413500
|
Alan Green discusses AIS Resources #AIS, MetalNRG #MNRG, Mode Plc #MODE & Cadence Minerals #KDNC on the Stockbox Research podcast
Alan Green discusses AIS Resources #AIS, MetalNRG #MNRG, Mode Plc #MODE & Cadence Minerals #KDNC on the Stockbox Research podcast