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Tertiary Minerals #TYM – Afzal Valli Major Shareholding

16th March 2020 / Leave a comment

TR-1: S tandard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:			Tertiary Minerals Plc
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments						X
An event changing the breakdown of voting rights
Other (please specify)ⁱⁱⁱ:
3. Details of person subject to the notification obligation ^iv
Name			Afzal Valli
City and country of registered office (if applicable)
4. Full name of shareholder(s) (if different from 3.) ^v
Name			Afzal Valli
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached ^vi:			Friday 13 March 2020
6. Date on which issuer notified (DD/MM/YYYY):			Monday 16 March 2020
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 of issuer ^vii
Resulting situation on the date on which threshold was crossed or reached	5.01%	–		5.01%	733,836,092
Position of previous notification (if applicable)	4.13%	–		4.13%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ^ix					% of voting rights
		Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
GB0008854563		36,788,532					5.01%


SUBTOTAL 8. A		36,788,532					5.01%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expiration date ^x	Exercise/ Conversion Period^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration date ^x		Exercise/ Conversion Period ^xi		Physical or cash settlement ^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
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 ^xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity ^xiv(please add additional rows as necessary)
Name ^xv	% 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
N/A





10. In case of proxy voting, please identify:
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 ^xvi

Place of completion	UK
Date of completion	16 March 2020

Tertiary Minerals #TYM – Afzal Valli Major Shareholding

24th February 2020 / Leave a comment

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedⁱⁱ:			Tertiary Minerals Plc
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments						X
An event changing the breakdown of voting rights
Other (please specify)ⁱⁱⁱ:
3. Details of person subject to the notification obligation^iv
Name			Afzal Valli
City and country of registered office (if applicable)
4. Full name of shareholder(s) (if different from 3.)^v
Name			Afzal Valli
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached^vi:			Friday 21 February 2020
6. Date on which issuer notified (DD/MM/YYYY):			Friday 21 February 2020
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 of issuer^vii
Resulting situation on the date on which threshold was crossed or reached	5.07%	–		5.07%	478,727,565
Position of previous notification (if applicable)	4.07%	–		4.07%	–

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights^ix					% of voting rights
		Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
GB0008854563		24,288,532					5.07%


SUBTOTAL 8. A		24,288,532					5.07%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expiration date^x	Exercise/ Conversion Period^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration date^x		Exercise/ Conversion Period ^xi		Physical or cash settlement^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
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^xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv(please add additional rows as necessary)
Name^xv	% 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
N/A





10. In case of proxy voting, please identify:
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^xvi

Place of completion	UK
Date of completion	21 February 2020

Tertiary Minerals (TYM) – Notification of Major Holdings – Bergen Asset Management

28th November 2019 / Leave a comment

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:				Tertiary Minerals PLC
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights			X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)ⁱⁱⁱ:
3. Details of person subject to the notification obligation^iv
Name				Bergen Asset Management, LLC
City and country of registered office (if applicable)				Delaware, USA
4. Full name of shareholder(s) (if different from 3.)^v
Name				BNP Paribas Securities Services as Custodian for Bergen Global Opportunity Fund, LP.
City and country of registered office (if applicable)				New York, USA
5. Date on which the threshold was crossed or reached^vi:				26 November 2019
6. Date on which issuer notified (DD/MM/YYYY):				28 November 2019
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 of issuer^vii
Resulting situation on the date on which threshold was crossed or reached	7.32%	N/A			7.32%	478,075,665
Position of previous notification (if applicable)	N/A	N/A			N/A

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights^ix					% of voting rights
		Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
				35,000,000					7.32%

SUBTOTAL 8. A		35,000,000					7.32%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expiration date^x	Exercise/ Conversion Period^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration date^x		Exercise/ Conversion Period ^xi		Physical or cash settlement^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
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^xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv(please add additional rows as necessary)				X
Name^xv	% 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
Bergen Global Opportunity Fund, LP
Bergen Asset Management, LLC
Eugene Tablis

10. In case of proxy voting, please identify:
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^xvi

Place of completion	Florida, USA
Date of completion	27 November 2019

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

Tertiary Minerals (TYM) Issue of Convertible Security

26th November 2019 / Leave a comment

The Company hereby announces that on 26 November 2019 it has issued a convertible security with the nominal value of £263,000 (at the purchase price of £232,000) pursuant to, and on and subject to the terms and conditions set out in, the convertible securities issuance deed dated 19 November 2019, the details of which were disclosed to the market on 20 November 2019.

For more information please contact:

Tertiary Minerals plc:
Richard Clemmey, Managing Director	+44 (0) 1625 838 679
Patrick Cheetham, Chairman
SP Angel Corporate Finance LLP Nominated Adviser and Broker
Richard Morrison	+44 (0) 203 470 0470
Caroline Rowe

About Tertiary Minerals plc

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration company building and developing a multi-commodity project portfolio – Industrial minerals, base and precious metals.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Tertiary Minerals plc (TYM) Secures up to £622,000 Investment by way of Convertible Securities

20th November 2019 / Leave a comment

Highlights:

Up to a nominal amount of £653,000 in zero coupon convertible securities allows Tertiary Minerals plc to fund the planned exploration programmes on its recently acquired Pyramid Gold and Paymaster Polymetallic Projects in Nevada and for general working capital purposes.
Funding provided by U.S. based fund, Bergen Global Opportunity Fund, LP, an institutional investor.
Staged funding potentially minimises dilution to existing shareholders.

The Company announces that it has entered into a convertible securities issuance deed (the “Agreement”) with Bergen Global Opportunity Fund, LP (the “Investor”), a U.S. based institutional investment fund, in connection with an issuance by the Company of zero coupon convertible securities having a nominal amount of up to £653,000 (the “Convertible Securities”).

The Convertible Securities will (subject to satisfaction of certain conditions) be issued in tranches and the Company will make an announcement of the issue of each Convertible Security. The initial Convertible Security will have the purchase price of £232,000 and the nominal value of £263,000 and will be issued shortly. Any subsequent Convertible Securities will be issued at a time agreed between the Company and Investor and will be purchased at their nominal value. The aggregate nominal value of any subsequent Convertible Securities issued will be determined by mutual consent of the Company and Investor but will not exceed £390,000.

Each of the Convertible Securities will have a term of 24 months.

The Convertible Securities will (subject to the satisfaction of certain conditions) be convertible into ordinary shares of the Company (the “Shares”), in whole or in part, at the option of Investor. The Company will make an announcement each time any Convertible Securities are converted in whole or in part and will specify in such announcement the relevant conversion price, which will be, at Investor’s election: (a) 95% of the average of five daily volume-weighted average prices of the Shares on AIM during a specified period preceding the relevant conversion or (b) 135% of the average of the daily volume-weighted average prices of the Shares for the 20 consecutive trading days immediately prior to 19 November 2019.

The Investor has agreed to certain, substantial, limitations on its ability to dispose of the Shares following a conversion of the Convertible Securities. The Investor is also contractually precluded from shorting the Company’s shares.

The Company will have the right to repurchase the initial Convertible Security for cash at 100% of its nominal value (and without a fee or penalty) within 120 days of the issue date of the initial Convertible Security.

In connection with the Agreement:

(A) the Company will issue to the Investor 17,000,000 Shares by way of a commencement fee in relation to the overall funding (“Commencement Fee Shares”);

(B) the Company will issue to the Investor 18,000,000 Shares at par to collateralise the investment (“Collateral Shares”). Investor may be required to make a further payment to the Company once all of the obligations of the Company under the Agreement have been finally met and no amount remains outstanding to the Investor, depending on the price of Shares at such time; and

(C) the Company has agreed that it will issue 22,000,000 warrants with an exercise period of 48 months from the date of issue (the “Warrants”) to the Investor entitling the Investor (or any subsequent holder of the Warrants) to subscribe for one Share per Warrant at the exercise price equal to 0.33588 pence.

The Company has applied for admission of the Commencement Fee Shares and Collateral Shares to trading on AIM, and this is expected to become effective at 8:00a.m. on or around 26 November 2019.

Application will be made to the London Stock Exchange for any Shares issued and allotted on exercise of the Warrants or conversion of the Convertible Securities to be admitted to trading on AIM. The Convertible Securities will only be issued to the extent that the Company has corporate authority to do so.

The proceeds for the issue of the Shares and the Convertible Securities will be used by the Company to fund the planned exploration programmes on its recently acquired Pyramid Gold and Paymaster Polymetallic Projects in Nevada and for general working capital purposes.

Total Voting Rights

Following admission of the Commencement Fee Shares and Collateral Shares, the Company will have 478,075,665 Shares in issue with each Share carrying the right to one vote. There are no Shares currently held in treasury. The total number of voting rights in the Company is therefore 478,075,665 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

Richard Clemmey, Managing Director of the Company, commented today: “The current market for natural resource companies remains very challenging and we are therefore pleased to have secured a flexible method of financing as opposed to a straight equity raise which, in the current market, often come at a large discount to the share price and would be highly dilutive.”

“The staged funding now enables the Company to move ahead with exploration and development on our two new exciting projects, Pyramid and Paymaster.”

About Tertiary Minerals plc

About Bergen Asset Management LLC

Based in the U.S., Bergen Asset Management, LLC is an institutional investor with a particular focus on direct investments in small-cap companies around the world, and a track record of success.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For more information please contact:

Tertiary Minerals plc:
Richard Clemmey, Managing Director	+44 (0) 1625 838 679
Patrick Cheetham, Chairman
SP Angel Corporate Finance LLP Nominated Adviser and Broker
Richard Morrison	+44 (0) 203 470 0470
Caroline Rowe

Tertiary Minerals: A bargain catch in a monster mining region

15th August 2019 / Leave a comment

Nevada continues to shine
A change in direction for Tertiary Minerals
Paymaster project shows promise
Pyramid Project: A golden catch
Gold and Silver on the rise

Nevada continues to shine

Ranked as the world’s top jurisdiction for mining investment – when it comes to fishing for metals, Nevada looks to be the place to net a winner.

At the beginning of July mining super-heavy-weights Barrick Gold and Newmont Goldcorp announced the official launch of their huge joint gold mining venture in Northern Nevada – marking another prestigious boost for the world-class mining jurisdiction.

Following a visit to the joint projects Nevada Governor Steve Sisolak commented:

“There’s a reason why Nevada is ranked as one of the more attractive jurisdictions in the world for mining investment. It’s not only the geological attractiveness, but that we have a true partnership with the state and federal government in growing a responsible, safe, and beneficial industry for our local communities”

Tertiary Minerals a fresh strategy kick starts with Nevada Prospects

Another company that’s been hooked by Nevada’s outstanding mining opportunities is AIM- traded mineral exploration and development company Tertiary Minerals (AIM:TYM).

Over the last year the company has made a strategic move to broaden its portfolio beyond the existing focus on fluorspar. As well as maintaining projects for the EU listed critical mineral, Tertiary are now aiming to build a multi-commodity project portfolio including precious metals, base metals and industrial minerals.

The company are hopeful that by targeting a number of mining friendly jurisdictions they can provide shareholders with exciting projects capable of generating revenue across a shorter timescale, as well as earlier stage projects which can be developed organically.

With its rich mining history, geology and supportive government the company have set their sights on Nevada to provide this, announcing the acquisition of two new projects in the state; the Paymaster polymetallic project and the Pyramid gold project.

Paymaster project shows promise

Back in February, Tertiary staked claim to the Paymaster zinc-copper-silver-Cobalt-Tellurium prospect, an area of more than 390 acres located approximately 30km south west of Tonopah, Nevada.

The project showed immediate promise with Tertiary revealing that grab samples had produced significant assays up to 21% zinc, 6.5% lead, 3.3% copper and 253g/t silver as well as high levels of high-tech metals tellurium and cobalt. Shareholders were left waiting in anticipation until July for further sample results. But the wait appears to have been well worth it.

Soil sampling revealed two large zones of zinc-silver mineralisation for follow-up exploration, with rock sampling from their Valley Prospect providing assays of 7.5% zinc, 4.3% lead and 180g/t silver.

Richard Clemmey, Managing Director of the Company, commented: “We are pleased to be reporting these two new targets as a result of follow up of our soil sampling results at the Paymaster Project and to be closing in on drill targets at such an early stage in the life of the project.”

Pyramid Project a golden opportunity

Quick to keep developing their portfolio, Tertiary soon set their sights on Gold, securing a 20-year lease (with the option to buy) over a group of nine patented claims in the Walker Lane area.

With Walker Lane rated such a highly prospective area for gold mining,, Tertiary did extremely well to snap up the site. Particularly considering that historic drilling results at hole PYR9 intersected visible gold and assayed 1.52m grading 17.8 g/t Au from 94.5m down hole.

As commented by MD Mr Clemmey “Projects with high-grade gold results in drilling that have not already been followed up are hard to find in Nevada.”

Gold and Silver shine demonstrating safe haven potential

Now looks as good a time as ever for Tertiary to be digging for gold and silver. The precious metals have once again demonstrated their safe-haven qualities during the recent periods of economic uncertainty.

Earlier in August gold prices surged through $1,500 a troy ounce for the first time in over six years, whilst silver broke above the $17 a troy ounce mark for the first time since the 14th June 2018. These results perhaps a demonstration of the unique security that gold and silver stocks can offer during economic slowdowns.

Meanwhile, Tertiary will be pleased to hear that Commerzbank’s raw materials analyst Daniel Briesmann has predicted that prices for the metal are on the up. He’s forecast a three-month price of $2,800 per tonne at the end of 2019. Zinc is currently at around $2,260 per tonne.

“I don’t see production coming back onto the market at current levels, so I think we will see a supply deficit, which has already been recorded for the first months of the year” said Briesmann.

Tertiary a bargain

All said, sat just above it’s lowest price of 0.18p, at just 25p, Tertiary looks to be a bargain catch for investors, and offering significant upside potential.

As well as the two highly promising additions discussed, Tertiary’s portfolio includes three strategic fluorspar deposits located in Europe and the USA containing JORC compliant Mineral Resources of over 13 million tonnes of fluorspar mineral.

Fluorspar is an EU listed critical mineral used primarily in metallurgical, ceramics, and chemical industries; as well as for, optical, lapidary, and other important uses.

However, it’s Tertiary’s Paymaster and Pyramid projects which I’d recommend keeping your eyes on. As news starts to flow from these projects and investors catch on I’d expect to see the share price jump.

Back to our analogy ‘fishing for metals’.. always remember, good things come to those who bait! Sorry, I mean wait. These projects are in their early stages. So set out your camping chair, cast your lines and wait to reel it in.

By Harry Dacres-Dixon

Sources:

Brand Communications – Treasure Hunting in Nevada with Tertiary Minerals (TYM): Walker Lane marks the spot for gold

Brand Communications – Tertiary Minerals plc (TYM) New Project Acquisition and MB Project Update

Brand Communications – Tertiary Minerals (TYM) – New Project Acquisition in the Pyramid Mining District of Nevada, USA

Fastmarkets AMM – Analysts divided on 2019 zinc price forecast

Financial Times – Gold prices top $1,500 as haven rally accelerates

Kitco – Gold and Silver Prices Explode to the Upside

Tertiary Minerals #TYM – Afzal Valli Major Shareholding

14th August 2019 / Leave a comment

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedⁱⁱ:			Tertiary Minerals Plc
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments						X
An event changing the breakdown of voting rights
Other (please specify)ⁱⁱⁱ:
3. Details of person subject to the notification obligation^iv
Name
City and country of registered office (if applicable)
4. Full name of shareholder(s) (if different from 3.)^v
Name			Afzal Valli
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached^vi:			13^th August 2019
6. Date on which issuer notified (DD/MM/YYYY):			14^th August 2019
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 of issuer^vii
Resulting situation on the date on which threshold was crossed or reached	3.03%	–		3.03%	13,430,165
Position of previous notification (if applicable)	–	–		–	–

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights^ix					% of voting rights
		Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)			Direct (Art 9 of Directive 2004/109/EC) (DTR5.1)		Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1)
GB0008854563		13,430,165					3.03%


SUBTOTAL 8. A		13,430,165					3.03%

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))
Type of financial instrument		Expiration date^x	Exercise/ Conversion Period^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of financial instrument	Expiration date^x		Exercise/ Conversion Period ^xi		Physical or cash settlement^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
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^xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv(please add additional rows as necessary)
Name^xv	% 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
N/A





10. In case of proxy voting, please identify:
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^xvi

Place of completion	UK
Date of completion	13 August 2019

Tertiary Minerals #TYM – New Project Acquisition in the Pyramid Mining District of Nevada, USA.

28th May 2019 / Leave a comment

Tertiary Minerals plc is pleased to advise that it has secured exploration rights and an option to purchase a group of claims in the Pyramid Mining District of Nevada. The project is located 25 miles northwest of Reno and is easily accessible by sealed highway.

Pyramid Project Highlights:

20-year lease secured over group of 9 patented claims with option to purchase (subject to underlying royalties).
Additional 25 mining claims staked to cover additional targets along strike.
Located in productive Walker Lane porphyry copper/epithermal gold belt.
Limited historical exploration (1989-90) has defined priority epithermal vein drill target:
Drill hole PYR 9 – intersected visible gold and assayed 1.52m grading 17.8 g/t Au from 94.5m down hole
PYR 9 ended in 1.52m grading 2.6 g/t Au at 115.8m depth.
PYR 9 was only drill hole to effectively test a cohesive 750m long open-ended gold-mercury-arsenic soil geochemical anomaly.
Claims contain a number of untested epithermal veins and stockwork target zones – 43 widespread surface samples assayed up to 7.27 g/t Au and averaged 1.3 g/t Au

The State of Nevada:
5th largest gold producer in world.
6 M oz of gold produced in 2017.
1 M oz of gold produced 1835-2018.
Ranked #1 most desirable mining jurisdiction in the world by The Fraser Institute.

Commenting today, Managing Director, Richard Clemmey said: “We are delighted to have acquired an interest in the Pyramid Project. Projects with high-grade gold results in drilling that have not already been followed up are hard to find in Nevada. This acquisition follows the staking of the Paymaster Project earlier this year and is in line with our strategy to build a new project portfolio which will enable the Company to reduce its future geographical, technical, permitting and commodity risk exposure and provide long-term shareholder value”.

Maps showing the location of various features described in this news release will be available on the Company’s website in due course.

Enquiries

Tertiary Minerals plc

Richard Clemmey, Managing Director

Patrick Cheetham, Chairman

+44 (0) 1625 838 679

SP Angel Corporate Finance LLP

Nominated Adviser & Broker

Lindsay Mair/Caroline Rowe

+44 (0) 20 3470 0470

SVS Securities plc

Joint Broker

Elliot Hance

+44 (0) 203 700 0093

Detailed Information

Location

Tertiary’s Pyramid Project is located 40km northwest of Reno in the Pyramid Mining District and is readily accessible from State Highway 445 which crosses the northwest tip of the project.

The Property

The Company has secured a 20-year lease with option to purchase a group of 9 patented mining claims. In addition, the Company has staked a further 25 unpatented mining claims adjoining the patents to cover potential extensions along strike.

Patented mining claims are considered as private property under US law and have the advantage that mineral exploration and surface disturbance below 5 acres can be carried out without permits and, in general, mine permitting is a more straightforward process.

Geology & Mineralisation

The Pyramid Mining District lies at the northwest end of the Walker Lane mineral belt a major northwest trending structural deformation zone and a highly productive gold, silver and copper producing region which is host to numerous past and currently producing multi-million ounce epithermal gold deposits as well porphyry copper and porphyry molybdenum deposits.

Within the Pyramid Mining District, the Company’s Pyramid Project is underlain by a thick sequence of mid-late Tertiary age (23 Ma old) rhyolitic tuffs interpreted by the Nevada Bureau of Mines & Geology to have formed within an east-west elongated Caldera structure named the Perry Canyon Caldera.

The gold veins at Pyramid lie within the Perry Canyon Caldera and are interpreted from historical mapping and mineral exploration to lie on the margins of a large and deeply buried porphyry system in the southeast part of the district that is currently claimed by copper producer Asarco LLC (a division part of Groupo Mexico). At the higher erosional levels currently preserved at Pyramid such porphyry systems are prospective for high-sulphidation gold deposits (in more central areas) such as those found further south in the Walker Lane at the Goldfield Mining District (4 million ounces of past production at 1oz gold/ton) and low and intermediate-sulphidation epithermal deposits (of which there are many examples in the Walker Lane) in more peripheral areas where the Company’s claims are located. This pattern of mineralisation is similar to that of many large porphyry systems in the US, Peru and the Pacific basin countries.

In the main part of the Pyramid District precious metals were mined from three moderately to steeply dipping, northwest-striking vein systems named after the prominent mines that occur along them – Ruth, Burrus, and Bluebird. The Company’s claim interests cover the Ruth vein system and a number of parallel vein systems and zones of alteration. In addition to abundant quartz and pyrite, vein minerals in unoxidized ore from the Ruth vein system include barite, anglesite, galena, sphalerite, acanthite, gold and cassiterite.

Past Mining & Exploration

The Pyramid Mining District was established in 1866 with only small-scale production reported. Modern exploration in the Pyramid District has focussed primarily on the search for porphyry copper mineralisation with only limited exploration having been carried out for gold.

The only documented field exploration in the area of the Company’s claims was carried out by Battle Mountain Gold Mining (“Battle Mountain”) who leased the project from the current lessors, Golden Crescent Corporation, in the period 1988-89. Battle Mountain carried out surface sampling, soil sampling and drilled 10 shallow exploration holes for a total of 1,006m of drilling to depths between 43 and 140m.

Soil sampling was conducted on a 30 x 120m grid within a confined area 600m x 600m centred on Battle Mountain’s main target area, the Ruth Mine vein system and associated vein stockwork. This identified a series of gold-in-soil anomalies and eight of their ten drill holes were designed to test a broad gold anomaly located just northwest of the Ruth Mine. These intersected areas of anomalous gold up to 1.5m grading 1.64 grammes/tonne gold (g/t Au) in hole PYR 1 from 10.7m depth.

Battle Mountain’s two other drill holes were designed to test a parallel vein west of the Ruth vein system which correlates with a separate strong gold-arsenic-mercury soil anomaly, mercury and arsenic being strongly associated with gold in epithermal gold deposits. This soil anomaly is open ended and continues strongly to the northwest and southeast boundaries of the sampled area.

Drill hole PYR 9 on this western line intersected high-grade gold mineralisation and visible gold within a sample thickness of 1.52m grading 17.8 g/t Au from 94.5m downhole. A broad zone of low-grade mineralisation continued to the end of the hole at 115.8m where the last 1.52m sample graded 2.6 g/t Au.

PYR 10 targeted the same western line soil anomaly some 150m to the southwest but was interpreted to have been drilled in the wrong direction and made no significant gold intersections.

Battle Mountain did not carry out any follow up exploration.

Proposed Mineral Exploration – Tertiary Minerals plc

The association of high-grade gold mineralisation in a previous drill hole associated with a strong and open-ended gold soil anomaly supported strongly by epithermal pathfinder elements mercury and arsenic presents a compelling drill target.

Similar narrow high-grade epithermal gold deposits in Nevada have hosted multi-million-ounce deposits such as the producing Midas Mine where the mainveins produced more than 2.2 million ounces of gold and 26.9 million ounces of silver between 1998 and 2013.

Tertiary Minerals intends to follow up Battle Mountain’s drilling and soil sampling results with an initial RC and core drilling programme as soon as possible. Core drilling is recommended as water, which can affect sample quality, was encountered in drilling both holes PYR 9 & 10.

The broader potential of the vein systems on the Project area are highlighted by the results of 43 surface chip samples taken by Battle Mountain from various outcropping veins and old mine workings within the Company’s Project area. These assayed up to 7.27 g/t Au and averaged 1.3 g/t Au.

This high prospectivity was confirmed by surface grab carried out by the Nevada Bureau of Mines & Geology during a regional assessment in 1999 when samples from the 1km long Ruth vein System averaged 1.3 g/t gold and 131 g/t silver (Garside et al 2003). The highest gold content, 8 g/t Au, was from the Surefire Mine area which has never been drill tested.

A series of maps illustrating the features described in the News Release will be uploaded to the Company’s website in due course.

Summary of Terms of Lease/Option

Advanced Annual Minimum Royalty Payments:

$15,000 payable on signing
$12,500 payable on or before 12 months from date of agreement
$12,500 payable on or before 18 months from date of agreement
$20,000 payable on or before 24 months from date of agreement
$20,000 payable on or before 30 months from date of agreement
$27,500 payable on or before 36 months from date of agreement
$27,500 payable on or before 42 months from date of agreement
$35,000 payable every 6 months from 48 months after the date of the agreement

Option to buy property (required to purchase property prior to commencement of mining):

$1,500,000 – At any time before the end of Lease Year 5
$2,000,000 – At any time after Lease Year 5 and before the end of Lease Year 10
$2,500,000 – At any time after Lease Year 10 and before the end of Lease Year 20

Royalty Payable:

2% Net Smelter Return
Where underlying pre-existing Royalties exist²on a particular claim then the 2% Royalty payment on that claim will be reduced by a variable amount to minimise the impost of multiple royalty payments
Advanced Royalty Payments credited against royalty payment entitlements
Royalty Area of Interest: 0.5 miles
Right to buy one half of royalty for $1,000,000 at any time before start of mine and/or plant construction
Advanced royalty payments not credited against royalty buyout
Royalty retained after property buyout (subject to half purchase right)

References:

Nevada Bureau of Mines and Geology Map 146. 2003. Geology of the Fraser Flat Quadrangle and the west half of the Moses Rock Quadrangle, Washoe County, Nevada. Larry J. Garside, Stephen B. Castor, Craig M. dePolo, and David A. Davis, with a section on aeromagnetic lineament analysis, Warm Springs Valley, by Michael C. Widmer.

Notes:

The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.
Three of the nine claims subject to the lease agreement are known to be subject to a third party underlying 4% gross proceeds royalty.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Notes to Editors

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

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