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Tertiary Minerals #TYM – Pyramid Gold Project – Provisional Drill Results
Tertiary Minerals plc wishes to advise of the receipt of provisional1 gold results from assaying of drill core from recently completed hole TPYR1 drilled at the Pyramid Gold Project in Nevada, USA.
TPYR1 was designed to twin percussion hole PYR9 drilled by Battle Mountain Gold Mining Company (“Battle Mountain”) in 1989 which is documented to have intersected visible gold and assayed 1.52m grading 17.8 grammes per tonne gold (g/t Au) from 94.5m down hole and ended in 1.52m grading 2.6 g/t Au at 115.8m depth, as detailed in the Company’s news release of 28 May 2019.
TPYR1 was drilled to a depth of 137m down hole at the same 45-degree angle and azimuth and from the same general location as PYR9.
Provisional gold assay results2 from first pass sampling of the drill core from TPYR1 show a best intersection of 0.55m grading 2.01 g/t Au from 82.6m down hole.
Whilst these provisional gold results (from TPYR1) are lower than those from the historic drill hole (PYR9), the results do confirm that the target zone is gold-mineralised. There is also a poor correlation between holes in the position of the better assay results and so a second programme of core sampling will now be carried out to ensure that no significant gold bearing sections were missed in first pass sampling.
The discrepancy between the position and tenor of assay results between the two holes could be a result of natural geological variation, which can be significant over short distances in high grade gold deposits, or due to the different drilling methods employed. Battle Mountain’s percussion drilling method gives a larger and arguably more representative sample, but percussion drill samples can also be compromised by ground conditions, sample recovery and down-hole contamination issues. Percussion drilling does not deliver the same level of geological information as core holes which is why core drilling was chosen by the Company for this important first hole.
PYR 9 was originally drilled by Battle Mountain to test a strong gold, silver and multi-element soil geochemical anomaly that remains open to both the north and south. Now that the underlying alteration zone is confirmed as gold-bearing, the Company intends to carry out further soil sampling to fully delineate the anomaly and to define further drill targets.
Commenting today, Managing Director, Richard Clemmey said:
“We are pleased to confirm that the target is gold bearing and whilst we have not been able to replicate the historic higher-grade results with this first hole, Pyramid remains an attractive exploration project due to the extensive gold-in-soil anomaly and the widespread gold bearing surface samples we described in our May 2019 announcement. We look forward to continuing work on the Pyramid Gold project and on our growing portfolio of precious and base metal projects in Nevada where further news is expected soon.”
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 |
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| Richard Morrison | +44 (0) 203 470 0470 | |
| Caroline Rowe | ||
| Peterhouse Capital Limited
Joint Broker |
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| Lucy Williams | + 44 (0) 207 469 0930 | |
| Duncan Vasey | ||
Notes:
- Results are expressed as provisional pending the issue of assay certificates. Certified results will not be released unless they differ materially from the provisional results.
- All drill core was submitted to independent laboratory ALS Global in Reno, Nevada for photographing, cutting, preparation, assay and analysis. Drill samples were taken by cutting core in half with half-core samples crushed, split and pulverised (1kg split) prior to assay and analysis. In a few cases a short interval of whole core was sampled to ensure sufficient weight of material was assayed. Gold concentrations were determined by assay of 25g aliquots of the pulverised core using ALS method Au-AA25.
- 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.a
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.
Tertiary Minerals #TYM – Issue of Equity
The Company announces that Precious Metal Capital Group LLC (“PMCG”), the subscriber under the share subscription deed, details of which were announced on 2 April 2020, has requested that the Company issue 33,333,334 ordinary shares (the “Shares”) to PMCG. The purchase price of the Shares (being £60,000) had been prepaid by PMCG as part of its lumpsum investment of £600,000 in the Company, announced on 2 April 2020 and made by PMCG on 7 April 2020. Shares in relation to £540,000 of that investment remain to be issued.
Application has therefore been made for the 33,333,334 ordinary shares to be admitted to trading on AIM with admission expected to take place on 4 May 2020. These ordinary shares will rank pari passu in all respects with all existing ordinary shares in the Company.
Following admission of the Shares, the Company’s enlarged issued share capital will comprise 767,169,426 ordinary shares with voting rights. This figure of 767,169,426 ordinary shares may 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 in their interest in, the share capital of the Company under the Disclosure Rules and Transparency Rules of the United Kingdom Financial Conduct Authority.
For more information please contact:
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Tertiary Minerals plc: |
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Richard Clemmey, Managing Director |
+44 (0) 1625 838 679 |
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Patrick Cheetham, Chairman |
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SP Angel Corporate Finance LLP Nominated Adviser and Broker |
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Richard Morrison |
+44 (0) 203 470 0470 |
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Caroline Rowe |
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Peterhouse Capital Limited Joint Broker |
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Lucy Williams |
+ 44 (0) 207 469 0930 |
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Duncan Vasey |
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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 #TYM – Pyramid Gold Project – Initial Drill Hole Completed
Following the announcement dated 7 April 2020, Tertiary Minerals plc is pleased to provide a further update on its first drill hole at its Pyramid Gold Project in Nevada, USA.
Pyramid Project Drilling Highlights
· Drill rig mobilised ahead of schedule
· The drill hole has been successfully completed and drilled to a total depth of 137m
· The drill hole will seek to confirm the presence of priority epithermal vein drill target previously intersected in historic drill hole PYR 9
· The core from the drill hole has been transferred to an independent laboratory in Reno, Nevada, where detailed geological logging, core cutting, and analysis is underway
· Analysis and QA/QC checks are expected to be completed within the next 4 weeks
· All planned activities were carried out in compliance with the State of Nevada protocols to address the COVID-19 pandemic
Commenting today, Managing Director, Richard Clemmey said: “We are pleased to have successfully 
completed our first drill hole at Pyramid ahead of schedule and look forward to providing updates in due course when the assay results have been received and satisfactory QA/QC checks have been completed.”
For more information please contact:
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Tertiary Minerals plc: |
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Richard Clemmey, Managing Director |
+44 (0) 1625 838 679 |
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Patrick Cheetham, Chairman |
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SP Angel Corporate Finance LLP Nominated Adviser and Broker |
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Richard Morrison |
+44 (0) 203 470 0470 |
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Caroline Rowe |
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Peterhouse Capital Limited Joint Broker |
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Lucy Williams |
+ 44 (0) 207 469 0930 |
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Duncan Vasey |
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Notes:
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.
Tertiary Minerals #TYM – Pyramid Gold Project Update
Following on from the announcement dated 18 February 2020, Tertiary Minerals plc is pleased to provide a further update on its plans to drill test the Pyramid Gold Project in Nevada, USA.
Pyramid Project Drilling Highlights:
- Drill planning completed and drilling contract signed
- Drill rig expected to be mobilised in the week commencing 20 April 2020, following completion of a third-party drilling programme by the drilling contractor
- Nevada based consulting geologist with a background in the evaluation of epithermal gold deposits has been contracted to manage the drilling and to log and sample the drill core
- Initial drilling will seek to confirm 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
- All planned activities can be carried out in compliance with the State of Nevada ‘stay at home’ policies to address the COVID-19 pandemic
Commenting today, Managing Director, Richard Clemmey said:
“We are pleased to have secured an experienced geologist and drilling contractor for the initial drilling at Pyramid and look forward to providing updates in due course when the drilling commences.”
COVID-19 in Nevada
On 1 April 2020 the State of Nevada implemented a stay at home policy other than for essential businesses, reporting to work as an essential worker, and to participate in outdoor activities so long as aggressive social distancing is practised. As of the date of this announcement, Mining (including drilling operations) falls into the essential business category and strict protocols have been implemented by the State for all mining/drilling 
activities to manage the COVID-19 risk.
The health and safety of the Company’s employees and contractors is of paramount importance and strict procedures will be implemented for the drilling in line with the State of Nevada protocols. The Company continues to closely monitor the developments regarding COVID-19 and any changes which may affect the drilling will be announced accordingly.
For more information please contact:
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Tertiary Minerals plc: |
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Richard Clemmey, Managing Director |
+44 (0) 1625 838 679 |
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Patrick Cheetham, Chairman |
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SP Angel Corporate Finance LLP Nominated Adviser and Broker |
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Richard Morrison |
+44 (0) 203 470 0470 |
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Caroline Rowe |
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Peterhouse Capital Limited Joint Broker |
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Lucy Williams |
+ 44 (0) 207 469 0930 |
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Duncan Vasey |
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Notes:
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.
Tertiary Minerals #TYM raises £600,000 in placing & terminates Bergen Agreement
Tertiary Minerals plc (“Tertiary” or “the Company”) (AIM:TYM) is pleased to announce the entry into a share subscription deed (the “Subscription Deed”) with Precious Metals Capital Group LLC (the “Subscriber”), a U.S. based institutional specialist investor.
Highlights:
- Tertiary Minerals plc raised £600,000 in a placing to Precious Metals Capital Group LLC, an institutional investor
- Termination of funding agreement with Bergen
Pursuant to the Subscription Deed, in the coming days, the Subscriber will make an investment of £600,000, by way of a subscription for Company shares. Further information regarding the placing is set out below.
The proceeds from the subscription will be used by the Company to fund ongoing exploration once the recently announced exploration programmes at the Pyramid Gold and Paymaster Polymetallic Projects in Nevada are completed and to ensure that the Company has sufficient working capital for the foreseeable duration of the Covid-19 pandemic.
The placing will be made by the Subscriber by way of prepayment for Company shares to be issued, at the Subscriber’s request, within 24 months of the date of the placing. A further investment may be made by the Subscriber within 12 months after the date of this placement, but only with the consent of the Company, in the amount not exceeding an additional £600,000, by way of prepayment for shares to be issued, at the Subscriber’s request, within 24 months following the date of such subsequent placement.
The number of shares to be issued as a result of the placing will be determined by dividing the subscription amount (or that part of the subscription amount in relation to which the shares are being issued) by 95% of the prevailing price, the latter being the average of the five daily volume-weighted average prices during a specified period immediately prior to the date of issuance of the shares.
Alternatively, the Subscriber may choose for the subscription price to be equal to £0.0042, being an approximately 133% premium to the Company’s share price on 1 April 2020.
Tertiary’s Managing Director Richard Clemmey commented:
“The recent impact of COVID-19 on the markets and investment outlook has been substantial. We are therefore very pleased to have attracted further interest from a specialist US institutional investor where the funding will further strengthen the company’s cash position and provide additional working capital during these uncertain times as well as enable the Company to continue with the planned exploration on its Paymaster Polymetallic and Pyramid Gold Projects in Nevada.”
Termination of Agreement with Bergen
The Company also announces that the convertible securities issuance deed (the “Agreement”) between the Company and Bergen Global Opportunity Fund, LP (“Bergen”), dated 19 November 2019, the details of which were notified on 20 November 2019, has been terminated by the parties by mutual consent, effective as of 1 April 2020. Following the termination, no further funding will be provided to the Company under the Agreement.
Tertiary’s Managing Director Richard Clemmey further commented:
“Bergen Global Opportunity Fund proved a supportive, valuable and flexible funding partner for Tertiary, and I wish to thank the team at Bergen for their support.”
Related Party Transaction
The Subscriber is deemed a related party by virtue of its relationship with Bergen as defined by AIM Rule 13. Bergen has been a substantial shareholder of the Company within the last twelve months and as a result, the Subscription Deed constitutes a related party transaction.
The board, being Patrick Cheetham, Richard Clemmey and Donald McAlister, are considered to be independent Directors for the purposes of this transaction and, having consulted with the Company’s nominated adviser, consider the terms of the Subscription Deed to be fair and reasonable insofar as shareholders of the Company are concerned.
Total Voting Rights
Application will be made to the London Stock Exchange for any Shares issued and allotted under the Subscription Deed to be admitted to trading on AIM. Such Shares will only be issued to the extent that the Company has corporate authority to do so.
The Company has 733,836,092 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 733,836,092 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 Rules and Transparency Rules.
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.
For more information please contact:
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Tertiary Minerals plc: |
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Richard Clemmey, Managing Director |
+44 (0) 1625 838 679 |
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Patrick Cheetham, Chairman |
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SP Angel Corporate Finance LLP Nominated Adviser and Broker |
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Richard Morrison |
+44 (0) 203 470 0470 |
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Caroline Rowe |
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Peterhouse Capital Limited Joint Broker |
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Lucy Williams |
+ 44 (0) 207 469 0930 |
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Duncan Vasey |
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Tertiary Minerals #TYM – Notice of Resignation of Managing Director
Tertiary Minerals plc, the AIM traded company building a multi-commodity project portfolio , wishes to advise that it has today received notice from Mr. Richard Clemmey of his resignation as Managing Director of the Company.
Mr. Clemmey will continue in his position until 30 June 2020 to manage the upcoming drill programme on the Company’s exciting Pyramid Gold Project in Nevada, USA and to ensure an orderly transition of responsibilities. The Company will seek to make a replacement appointment in due course and the Executive Chairman will assume the role of Chief Executive as an interim measure, if so required.
Commenting today, the Executive Chairman, Mr. Patrick Cheetham, said; “It is with regret that the Board has accepted Ric’s resignation but understands his decision given that recent events on the Storuman project in Sweden have shifted the Group’s focus to its gold and other exploration and resource identification projects. We wish Ric every success in his new role and thank him for his contribution to the Company.”
Further information:
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Enquiries
Tertiary Minerals plc Patrick Cheetham, Executive Chairman
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+44 (0)1625 838 679 |
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SP Angel Corporate Finance LLP Nominated Adviser & Broker Richard Morrison/Caroline Rowe
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+44 (0)203 470 0470 |
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Peterhouse Capital Limited Joint Broker Lucy Williams/Duncan Vasey |
+44 (0)207 469 0930 |
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
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
Tertiary Minerals #TYM – Afzal Valli Major Shareholding
TR-1: S tandard form for notification of major holdings
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i |
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii : |
Tertiary Minerals Plc |
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1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) |
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Non-UK issuer |
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2. Reason for the notification (please mark the appropriate box or boxes with an “X”) |
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An acquisition or disposal of voting rights |
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An acquisition or disposal of financial instruments |
X |
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An event changing the breakdown of voting rights |
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Other (please specify)iii: |
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3. Details of person subject to the notification obligation iv |
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Name |
Afzal Valli |
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City and country of registered office (if applicable) |
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4. Full name of shareholder(s) (if different from 3.) v |
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Name |
Afzal Valli |
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City and country of registered office (if applicable) |
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5. Date on which the threshold was crossed or reached vi : |
Friday 13 March 2020 |
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6. Date on which issuer notified (DD/MM/YYYY): |
Monday 16 March 2020 |
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7. Total positions of person(s) subject to the notification obligation |
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% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A + 8.B) |
Total number of voting rights of issuer vii |
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Resulting situation on the date on which threshold was crossed or reached |
5.01% |
– |
5.01% |
733,836,092 |
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Position of previous notification (if applicable) |
4.13% |
– |
4.13% |
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8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii |
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A: Voting rights attached to shares |
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Class/type of ISIN code (if possible) |
Number of voting rights ix |
% of voting rights |
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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) |
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GB0008854563 |
36,788,532
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5.01% |
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SUBTOTAL 8. A |
36,788,532
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5.01% |
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B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
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SUBTOTAL 8. B 1 |
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B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash settlement xii |
Number of voting rights |
% of voting rights |
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SUBTOTAL 8.B.2 |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) |
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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 |
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Full chain of controlled undertakings through which the voting rights and/or the |
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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 |
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N/A |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
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The number and % of voting rights held |
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The date until which the voting rights will be held |
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11. Additional information xvi |
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Place of completion |
UK |
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Date of completion |
16 March 2020 |
Tertiary Minerals #TYM – Statement re: Annual General Meeting
The Company’s Annual General Meeting (AGM) will be held at 2:00 p.m. on 19 March 2020 at the Company’s offices at Silk Point, Queens Avenue, Macclesfield, Cheshire SK10 2BB.
In view of the ongoing Coronavirus pandemic, the Company is now encouraging shareholders to vote electronically or to appoint the Chairman as their proxy with their voting instructions rather than attend the meeting in person. In order to reduce the risk of infection, the meeting will end immediately following the business of the AGM and there will be no corporate presentation, Q&A or refreshments. The Company is taking these precautionary measures to safeguard its shareholders’ and employees’ health and make the AGM as safe and efficient as possible.
Instructions on voting are attached to the Notice of Meeting bound in with the 2019 Annual Report already sent out to shareholders and which can be found on the Company’s website:
The Company will continue to update shareholders on material corporate and business developments in the usual way, via the Regulatory News System (RNS). Any investor relations enquiries or questions related to the AGM can be emailed to info@tertiaryminerals.com
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Tertiary Minerals plc: |
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Richard Clemmey, Managing Director |
+44 (0) 1625 838 679 |
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Patrick Cheetham, Chairman |
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Tertiary Minerals #TYM – Grant of Warrants at 0.340 pence
Tertiary Minerals plc, the AIM traded company building a multi-commodity project portfolio announces that a s part of the remuneration of employees and directors on 27 February 2020 the Board of the Company granted a total of 8,100,000 warrants to subscribe for Ordinary Shares at 0.340 pence, being the closing mid-market price on the trading day prior to the issue of the Warrants (i.e. 26 February 2020).
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Grantee |
No. of Warrants |
Warrant exercise price (pence per share) |
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Employees (4)
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(Total of) 1,600,000 |
0.340 p |
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Managing Director Mr Richard Clemmey |
3,000,000 |
0.340 p |
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Non-Executive Director Mr Donald McAlister |
1,500,000 |
0.340 p |
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Executive Chairman Mr Patrick Cheetham |
2,000,000 |
0.340 p |
Each warrant entitles the holder to subscribe for one ordinary share in the Company within 4 years from 27 February 2021.
Market Abuse Regulation
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation , provides further detail on the issue of ordinary shares to a director .
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.
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Details of the person discharging managerial responsibilities/person closely associated |
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Name: |
Donald McAlister |
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Reason for the notification |
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a) |
Position/status: |
Non-Executive Director |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Tertiary Minerals plc |
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b) |
LEI: |
213800OT9C6DQN9VO543 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument, type of instrument: Identification code: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each
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b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
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c) |
Price(s) and volume(s): |
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d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
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e) |
Date of the transaction: |
27 February 2020 17:00 UTC |
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f) |
Place of the transaction: |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
Judith Hayes |
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2. |
Reason for the notification |
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a) |
Position/status: |
Administration Manager |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Tertiary Minerals plc |
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b) |
LEI: |
213800OT9C6DQN9VO543 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a) |
Description of the financial instrument, type of instrument: Identification code: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
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b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
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c) |
Price(s) and volume(s): |
|
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d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
|
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|
e) |
Date of the transaction: |
27 February 2020 17:00 UTC |
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f) |
Place of the transaction: |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
Sondra Pyrch |
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2. |
Reason for the notification |
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a) |
Position/status: |
Company Accountant |
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b) |
Initial notification/Amendment: |
Initial notification |
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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|
a) |
Name: |
Tertiary Minerals plc |
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b) |
LEI: |
213800OT9C6DQN9VO543 |
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4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
||||
|
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
||||
|
c) |
Price(s) and volume(s): |
|
||||
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
|
||||
|
e) |
Date of the transaction: |
27 February 2020 17:00 UTC |
||||
|
f) |
Place of the transaction: |
Outside a trading venue |
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1. |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name: |
Jaelithe Talboom |
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2. |
Reason for the notification |
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|
a) |
Position/status: |
Business Assistant |
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b) |
Initial notification/Amendment: |
Initial notification |
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name: |
Tertiary Minerals plc |
||||
|
b) |
LEI: |
213800OT9C6DQN9VO543 |
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
||||
|
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
||||
|
c) |
Price(s) and volume(s): |
|
||||
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
|
||||
|
e) |
Date of the transaction: |
27 February 2020 17:00 UTC |
||||
|
f) |
Place of the transaction: |
Outside a trading venue |
||||
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name: |
Joel Cheetham |
||||
2. |
Reason for the notification |
|||||
|
a) |
Position/status: |
Data Analyst |
||||
|
b) |
Initial notification/Amendment: |
Initial notification |
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name: |
Tertiary Minerals plc |
||||
|
b) |
LEI: |
213800OT9C6DQN9VO543 |
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
||||
|
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
||||
|
c) |
Price(s) and volume(s): |
|
||||
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
|
||||
|
e) |
Date of the transaction: |
27 February 2020 17:00 UTC |
||||
|
f) |
Place of the transaction: |
Outside a trading venue |
||||
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name: |
Richard Clemmey |
||||
2. |
Reason for the notification |
|||||
|
a) |
Position/status: |
Managing Director |
||||
|
b) |
Initial notification/Amendment: |
Initial notification |
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name: |
Tertiary Minerals plc |
||||
|
b) |
LEI: |
213800OT9C6DQN9VO543 |
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each
|
||||
|
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
||||
|
c) |
Price(s) and volume(s): |
|
||||
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
|
||||
|
e) |
Date of the transaction: |
27 February 2020 17:00 UTC |
||||
|
f) |
Place of the transaction: |
Outside a trading venue |
||||
1. |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name: |
Patrick Cheetham |
||||
2. |
Reason for the notification |
|||||
|
a) |
Position/status: |
Executive Chairman |
||||
|
b) |
Initial notification/Amendment: |
Initial notification |
||||
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name: |
Tertiary Minerals plc |
||||
|
b) |
LEI: |
213800OT9C6DQN9VO543 |
||||
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument, type of instrument: Identification code: |
Warrants, each warrant to subscribe for one ordinary share of 0.01p each GB0008854563 (Ordinary Shares) |
||||
|
b) |
Nature of the transaction: |
Grant of warrants to subscribe for new ordinary shares |
||||
|
c) |
Price(s) and volume(s): |
|
||||
|
d) |
Aggregated information: Aggregated volume: Price: |
Single transaction as in 4 c) above
|
||||
|
e) |
Date of the transaction: |
27 February 2020 17:00 UTC |
||||
|
f) |
Place of the transaction: |
Outside a trading venue |
||||
ENQUIRIES
|
Tertiary Minerals plc Richard Clemmey, Managing Director Patrick Cheetham, Executive Chairman
|
Tel: +44 (0)1625 838 679 |
|
S P Angel Corporate Finance LLP Nominated Adviser & Joint Broker Richard Morrison/Caroline Rowe
|
Tel: +44 (0)203 470 0470 |
|
Peterhouse Capital Limited Joint Broker Lucy Williams/Duncan Vasey
|
Tel: +44 (0)207 469 09 |
Tertiary Minerals #TYM – Placing to Raise £275,000
Tertiary Minerals plc is pleased to announce that it has raised £275,000 before expenses by way of a placing (the “Placing”) of 100,000,000 new ordinary shares (the “Placing Shares”) at 0.275 pence per share (the “Placing”). The Placing Shares will rank pari-passu with all existing ordinary shares in the Company. The Placing was arranged through Peterhouse Capital Limited (“Peterhouse”) which has been appointed as a joint broker to the Company.
The funds raised will provide additional working capital for the Company and to fund development work for its projects, priorities to include:
Pyramid Gold Project, Nevada, USA
· Commence drilling, initially seeking to confirm priority epithermal vein 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
Paymaster Polymetallic Project, Nevada
· Geological Mapping
· Infill soil sampling
· Geophysical survey
The Placing is being made under existing shareholder authorities. Application will be made to the London Stock Exchange for 100,000,000 ordinary shares of 0.01 pence in Tertiary to be admitted to trading on AIM (“Admission”), and it is expected that Admission will occur on or around 02 March 2020. Peterhouse will be issued with 5,000,000 warrants, each warrant entitling the holder to apply for one new Ordinary Share at the Placing Price at any time within 12 months from the date of issue.
In accordance with Financial Conduct Authority’s Disclosure and Transparency Rules (“DTR”), following the issue and Admission, the total issued share capital of the Company with voting rights will be 733,433,448 ordinary shares.
The above figure of 733,433,448 ordinary shares may 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 in their interest in, the share capital of the Company under the DTR.
Richard Clemmey, Managing Director of the Company, commented today: “We are very pleased to have attracted new investor interest in the Company and now have have sufficient funding for the near term and to execute the first drill hole on our exciting Pyramid Gold Project in Nevada.”
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 |
||
|
Peterhouse Capital Limited Joint Broker |
||
|
Lucy Williams |
+ 44 (0) 207 469 0930 |
|
|
Duncan Vasey |
||
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.