Tertiary Minerals plc (TYM) Result of AGM

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, held its Annual General Meeting (“AGM”) today and is pleased to announce that all resolutions were duly passed.

The following proxy votes were received in respect of the resolutions.

 

1. Ordinary Resolution:  To receive the Accounts and Reports of the Directors and of the Auditors

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

15,611,285

88.64

0

0.00

2,000,000

11.36

696,178

2. Ordinary Resolution:  To re-elect Mr P L Cheetham as a director

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

16,247,063

88.75

60,000

0.33

2,000,000

10.92

400

3. Ordinary Resolution:  To re-elect Mr R H Clemmey as a director

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

16,247,063

88.75

60,000

0.33

2,000,000

10.92

400

4. Ordinary Resolution:  To re-elect Mr D A R McAlister as a director

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

16,247,063

88.75

60,000

0.33

2,000,000

10.92

400

5. Ordinary Resolution:  To reappoint Crowe U.K. LLP as Auditor of the Company

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

14,771,131

87.76

60,000

0.36

2,000,000

11.88

1,476,332

6. Ordinary Resolution:  To authorise the directors to allot shares

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

15,287,925

87.23

239,245

1.36

2,000,000

11.41

780,293

7. Special Resolution:  To approve dis-application of pre-emption rights

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

14,744,785

81.01

1,456,071

8.00

2,000,000

10.99

106,607

 

 

Further information:

 

Enquiries

 

Tertiary Minerals plc

Patrick Cheetham, Executive Chairman 

Richard Clemmey, Managing Director

 

 

 

+44 (0)1625 838 679             

SP Angel Corporate Finance LLP

Nominated Adviser & Broker

Lindsay Mair/Caroline Rowe

 

 

+44 (0)203 470 0470

 

 

 

 

Notes to Editors

 

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).

 

 

 

 

 

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

Cadence Minerals (KDNC): Macarthur Minerals (TSX-V: MMS) Lists on OTCQB and Comments on Iron Ore Price Surge.

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (“Macarthur”) today announced that it has joined the OTC marketplace, OTCQB. The OTCQB Venture Market offers the benefits of being publicly traded in the United States to expand Macarthur’s access to investors, engage them with quality disclosure of financials and provide trading transparency to stimulate liquidity. Investors can find current financial disclosure and Real-Time level 2 quote for Macarthur on www.otcmarkets.com. Macarthur trades in the United States on OTCQB under the symbol “MMSDF”.


Cameron McCall, Chairman of Macarthur Minerals. Mr. McCall said:

 “Global Markets have recently seen iron ore prices surge dramatically on the reduced supply as a result of the shutdowns and disasters that have occurred in Brazil, a leading producer of Iron Ore. states aWith continued demand and a significant supply reduction Macarthur is well positioned to advance the Ularring Hematite and Moonshine Magnetite Projects located 175km northwest of Kalgoorlie, Western Australia into production in a timely manner.”

The full release can be found at: https://web.tmxmoney.com/article.php?newsid=7965805934807637&qm_symbol=MMS

Cadence holds approximately 10% of the issued equity interest in Macarthur, which is an Australian mining exploration company focused primarily on iron ore, nickel, lithium and gold in Western Australia. It also has a lithium project in Nevada, USA.

Cadence Minerals CEO Kiran Morzaria commented: “On behalf of Cadence Minerals, we fully support the move by Macarthur to list on the OTCQB and thereby expand its investor reach. In addition, the reduction in iron ore supply and consequential surge in price further strengthens the Macarthur investment proposition.”

This news release is not for distribution to United States Services or for Dissemination in the United States. 

– Ends –

 

For further information:

Cadence Minerals plc                                                    +44 (0) 207 440 0647
Andrew Suckling  
Kiran Morzaria  
   
WH Ireland Limited (NOMAD & Broker)                                 +44 (0) 207 220 1666
James Joyce  
James Sinclair-Ford  
   
Hannam & Partners LLP (Joint Broker)                                 +44 (0) 207 907 8500
Neil Passmore  
Giles Fitzpatrick  
   
Novum Securities Limited (Joint Broker)                                 +44 (0) 207 399 9400
Jon Belliss  

 

 

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

  

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

 

VectorVest’s David Paul: Finding the Best Shares for a Worry Free Portfolio via Core Finance TV

Core Finance is part of Core London, a TV production company based in Belgravia, London. Core Finance aims to provide its viewers with insightful market commentary, helping investors navigate global financial markets. Making the content provided invaluable to viewers. Our shows are closely followed by fund managers, day traders, retail investors, company CEO’s, experienced investors and those new to the financial markets.

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

Tertiary Minerals plc is pleased to advise that it has staked claim to the Paymaster zinc-copper-silver-Cobalt-Tellurium prospect in Nevada, USA. The Company is also pleased to advise that the next phase of Scoping Study level metallurgical testwork is due to start by the end of February for the MB fluorspar project in Nevada.

 

Paymaster Project Highlights

  • Grab samples assay up to 21% zinc, 6.5% lead, 3.3% copper and 253g/t silver
  • Mineralisation intermittently exposed and sampled over 1.7km strike length
  • Samples also contain high levels of high-tech metals tellurium and cobalt
  • Geophysical exploration planned to define drill targets

MB Fluorspar Project

  • Next phase of metallurgical testwork planned at SGS Lakefield, Canada
  • Due to start – end February 2019
  • Target to produce acid-grade fluorspar and mica

Commenting today, Managing Director, Richard Clemmey said: “Whilst we continue with our strategy of reviewing project acquisition opportunities potentially capable of generating revenue and profits in a shorter timescale, we have also expanded our scope to include earlier stage projects which can be developed organically”.

“We are therefore pleased to have secured the first project in the pipeline of exciting new projects currently being assessed. As well as progressing our MB fluorspar project, building a new project portfolio should enable the company to reduce its future geographical, technical, permitting and commodity risk exposure and provide long term shareholder value”.

 

Enquiries
Tertiary Minerals plcRichard Clemmey, Managing DirectorPatrick 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

Zinc skarns1 are important not only as a source of zinc, lead, copper, silver and other associated metals but also as indicators of buried porphyry copper and molybdenum deposits. As a class of mineral deposit they include a number of world class zinc-silver deposits such as Antamina in Peru.

The Paymaster skarn mineralisation was originally prospected in the late 1950’s under US Defense Minerals Exploration Administration grant system. A government mining engineer recommended that the project be drill tested, but records suggest this did not take place and no production ensued.

In 1960 it was the subject of a brief publication by the US Geological Survey when zinc rich secondary clay minerals, sphalerite (zinc sulphide), galena (lead sulphide) and magnetite were identified in a pyroxene-garnet-quartz skarn mineral assemblage at the eastern end of the area now claimed by the Company.  The prospector scale workings were later described in a Geological Survey of Nevada publication in 1991 by an acknowledged world expert on skarn deposits, Lawrence (Larry) Meinert who, on the basis of his observations, concluded that the Paymaster skarn must be part of a much larger hydrothermal system.

Within the Company’s claim holdings, the skarn mineralisation has recently been traced westward over a total distance of 1.7km in a number of wide spaced and very shallow prospector pits. Seven grab2 samples of the skarn mineralisation exposed in or excavated from the pits average 10.1% zinc (maximum 20.9%), 1.5% lead (max. 6.5%) 134g/t silver (max 253 g/t or 7.3 ounces/ton) and 0.68% copper (maximum 3.4%).

The skarn samples also contain up to 0.11% cobalt (average of 419ppm or 0.045%) and up to 58ppm tellurium (average 31ppm) and 782ppm bismuth (average 315ppm).

Cobalt is in strong demand for use in new generation batteries. Tellurium’s primary use is for manufacturing films for photovoltaic solar cells. When alloyed with other elements, such as cadmium, tellurium forms a compound that exhibits enhanced electrical conductivity. Therefore, a thin film can efficiently absorb sunlight and convert it into electricity.

The mineralised skarn samples were collected largely from one stratigraphic horizon within Cambrian age limestone in contact with shale close to a shale contact and 1 mile south of the limestone contact with the Cretaceous age Lone Mountain granite pluton.  Where sampled the skarn appears to be associated with cross cutting faults and the continuity along strike between exposures is currently unknown but pinch and swell is seen on a local scale.

The Company intends to carry out follow up exploration on the Paymaster skarn to identify suitable drilling targets.

Notes:

  1. For further information on skarn type deposits see:

http://www.science.smith.edu/geosciences/skarn/aboutskarn.html

 

  1. Grab samples are often taken during the initial stages of a mineral prospect evaluation and cannot be consider representative of the mineralisation as a whole.
  2. 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.

 

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 significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada, USA (MB Project).

 

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.

Ian Pollard – Gooch & Housego #GHH Impacted by Microelectronic Headwinds

Gooch & Housego plc GHH updates that it is suffering from microelectronic headwinds despite which growth has continued. During the first four months of the financial year the business has seen a downturn in demand particularly from China. A cyclical downturn is also currently being experienced for industrial lasers.  2019 group trading performance is still expected to show low single digit growth compared to last year.

Glencore plc GLEN is pleased to report that it has delivered both record Adjusted EBITDA, up by 8% and significant cash returns to shareholders in 2018. The preliminary results also include net income attributable to equity holders down 41% and basic earnings per share also down 41%. Other highlights are that resolutions have been achieved with the Ontario Securities Commission regarding accounting, governance and disclosure matters and a refreshed management team has been appointed. Committees have been created to oversee the Group’s response to the U.S. Department of Justice’s investigation. Production guidance in all commodities for 2019 is that it is expected to be higher than 2018.

Intu Properties plc INTU  claims its management team has produced robust operational performance in a challenging market for the year to 31st December,  with increased like-for-like net rental income for the fourth consecutive year and 97 per cent occupancy. property valuations declined as sentiment weakened significantly. Valuations fell by a further 3 per cent  in the final quarter of 2018, in addition to the 9 per cent fall over the first nine months. Sentiment in the retail sector is at an all-time low.

Hochschild Mining plc HOC reports another strong year of record production and prudent cost control. Revenue for the year to 31st November fell by 3%, adjusted EBITDA by 11%, Profit from continuing operations (pre-exceptional) was down by 66% and Profit from continuing operations (post-exceptional) by 88%. 2018 operational delivery exceeded guidance.

Lloyds Banking Group LLOY 2018 results show that it was a year of strong strategic and financial delivery. The UK economy has proven itself resilient with record employment, which has enabled the bank to see profits jump by 24% whilst the total ordinary dividend of 3.21 pence per share, is up 5 per cent on 2017 In addition to this a share buyback of up to £1.75 billion is proposed. A continued strong performance is expected for 2019 with a statutory return on tangible equity of 14 to 15 per cent.

Find beachfront villas & houses for sale in Greece;   http://www.hiddengreece.net

Brand CEO Alan Green talks The AA #AA., Europa Oil & Gas #EOG & RA Intl #RAI on Vox Markets podcast

Brand CEO Alan Green discusses The AA #AA., Europa Oil & Gas #EOG & RA International #RAI with Justin Waite on the Vox Markets podcast. Interview is 22 mins, 30 seconds in.

Ian Pollard – Intercontinental #IHG; Year Of Excellent Progress, Divi Up 10%

Intercontinental Hotels Grp IHG presents a jargon riddled preliminary report for the year to the 31st December which makes for difficult reading, not  made any easier by giving its readers a choice between Segment results and Group results. which excludes exceptional items, except for basic earnings per share. Group results show a 6% rise in revenue, operating profit down by 7% and basic earnings per share down by 34%. The total dividend is to be increased by 10% after what the CEO describes as a year of excellent progress, which delivered a strong set of financial results.

Greggs plc GRG updates that it has made an exceptionally strong start to 2019 with total sales up 14.1% for the seven weeks to 16 February after a strong finish to 2018. Credit goes in the main to the exceptional sales performance  following the January launch of its vegan-friendly sausage roll which apparantly received extensive publicity for some reason. At least it made a change from Brexit headlines.The Board now anticipates that 2019 full year underlying profit before tax  is likely to be ahead of previous expectations.

First Group plc FGP Delivers a winter update which recognises that overall conditions in its markets remain uncertain, and poor weather retains the potential to affect its performance. Reported Group revenue growth for the year to date comes in at 13.7% supporting an unchanged outlook for the full year. Greyhound continues to face a difficult trading environment in some markets.A disappointing operating performance for passengers is recognised at First Rail. This resulted in like-for-like passenger revenue growth slowing  to 4.2%. and is blamed on significant infrastructure challenges.

Spectris plc SXS produced a 2018 performance which was slightly ahead of expectations and on a statutory basis delivered good LFL sales growth of 5% during the year to the 31st December.Profit before tax rose by 22%, basic earnings per share by 20% and the dividend is to be increased by 8%. The new Chief Executive says that Group would benefit from becoming a more focused and simplified business.

Find beachfront villas & houses for sale in Greece;   http://www.hiddengreece.net

New lithium hydroxide factory in Western Australia wins federal approval – Via the Guardian

Plant set to boost local jobs and supply growing global demand for lithium, which is used in renewable energy storage

Earthworks for a new lithium hydroxide factory in Western Australia are expected to begin this month after the $1bn project received federal environmental approval.

The plant owned by the world’s largest lithium producer, the US chemical company Albemarle, was approved by the WA government in October and is estimated to create up to 500 jobs in construction, with another 100 to 500 operational jobs once it is operational.

Australia’s trade minister, Simon Birmingham, said the plant would provide a much-needed local jobs boost and supply a growing global demand for lithium, which is used in renewable energy storage.

“This is a welcome investment and vote of confidence in our local lithium industry that will help attract further investment into the future,” Birmingham said.

Albemarle announced on Thursday that earthworks at the site at Kemerton Strategic Industrial Estate, just north of Bunbury, were on track to begin soon.

“Achieving this milestone underscores our commitment and confidence in developing LiOH [lithium hydroxide] operations and in our overall strategy to drive significant shareholder value and meet our customers’ demands,” said Eric Norris, the president of Albemarle’s lithium division.

The plant will process spodumene ore from the Greenbushes lithium mine, about 90km south of the industrial estate, and produce 60,000 tonnes of lithium hydroxide annually with capacity to expand to 100,000 tonnes.

It will also produce a byproduct of up to 200,000 tonnes of sodium sulfate, and a million tonnes of tailings per annum.

The company has been ordered to identify a new breeding and foraging habitat for WA’s three threatened black cockatoo species – Carnaby’s cockatoo, Forest red-tailed cockatoo, and Baudin’s black cockatoo – to offset habitat lost by clearing the 89ha plant site, including 54ha of coastal plain vegetation that is home to a number of threatened native orchids.

The director of the Conservation Council of Western Australia, Piers Verstegen, said the environmental impacts of the project were “manageable”.

“We think on the whole it’s a positive development for the south-west and one that could provide an alternative source of employment to the coal-based jobs in Collie,” Verstegen said.

Collie, about 70km east of Bunbury, is home to four of WA’s five coal-fired power stations, fed by two open-cut coalmines.

The Albemarle plan will run on gas, but Verstegen said he hoped the company would look into running it on renewable power.

WA is the world’s largest producer of lithium, and the plant at Kemerton is the second significant lithium hydroxide manufacturing plant approved in the state since 2016.

The state established a task force aimed at promoting the lithium industry last year, and the premier, Mark McGowan, met with the directors of Albemarle on a trip to Washington DC in February.

By the Guardian

Ian Pollard Victoria Plc (VCP) Politely Invites Shareholders To Take A Walk

Victoria plc VCP decided to take advantage of difficult market conditions to  pursue market share. The Board now recognises this impacted earnings this year and has unsettled some shareholders. It believes however that the strategy is in the best long-term interests of the Group and its shareholders and appears in effect to have told the shareholders to take a walk and has continued with the strategy. The  Board believes markets are down 6-8% in the UK and Australia and flat in Europe but the Group has continued to grow overall like-for-like revenues and gained meaningful market share. The Group expects that the current-year to March 2019 EBITDA is likely to be £95m-£97 million a rise of nearly 50% over the year to March 2018 and the Group’s 2019 underlying pre-tax profits are expected to be around around 35-39% higher than 2018.

Reckitt Benckiser Gp plc  RB  claims that 2018 was a year of good financial progress, achieved in an environment of challenging market conditions. Pro-forma and LFL growth  came in at 3%. plus 2% from volume and +1% from price / mix.The final dividend is being being increased to 100.2p, a rise of  3% and like for like net growth is targeted at 3.4% for 2019. The CEO says that the company is well positioned for long term, sustainable growth. 

Angling Direct plc ANG expects to report revenue of £42.0 million,an increase of 38.9% for the 12 months to the 31st January compared to the same period in the previous year.In store sales showed an increase of 50% overall or 6.2% on a like for like basis. whilst online sales grew by 30.3%. International sales surged by 98% to £4.66m and now account for 20.9% of the Group’s online sales. with shipments going to 49 different countries, this success has delighted the board. The business has also now been structured in readiness for Brexit

Xpediator plc XPD confirms that it  has achieved its growth objectives and recorded significant increases in sales and profits for the twelve months to 31 December 2018. Total revenues increased by 54% Import Services Logistics and Anglia Forwarding, both of which were acquired during 2018, contributed an additional  18% in revenue and added over 400 new customers. The Company’s Brexit team has been working closely with leading transport associations and port authorities to plan ahead. and will be able to support both exporters and importers post Brexit.

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Andalas Energy and Power Plc – Bunga Mas Update

Andalas Energy and Power Plc provides the following update in relation to its proposed acquisition of an interest in the Bunga Mas production sharing contract (“PSC”) (announced 29 August 2018).

The long stop date for fulfilment of the conditions precedent to the sale and purchase agreement expired on Friday, 15 February,  and the parties have not extended it.  The vendor has advised Andalas that the government of Indonesia (“GOI”) has advised that it intends to issue a letter terminating the PSC during the week commencing today.  If, as is expected, the GOI issues the termination letter, Andalas will terminate the sale and purchase agreement.

As advised on 12 February 2019, the GOI asked the PSC contractors to deposit sums into an escrow account and lodge performance bonds as a condition of renewal of the PSC.  The escrow sum is understood to be approximately US$5.8 million and the contractors have not satisfied this request.  The directors have concluded that it would not be in the interests of the Company to seek to raise funds sufficient to fulfil these requirements.

As previously announced, to date Andalas has incurred direct costs of an estimated £200,000 of legal, professional and other direct costs in connection with Bunga Mas.

Andalas Energy & Power PLC CEO, Simon Gorringe, said: “We are disappointed by the recent developments at Bunga Mas. We could not ask shareholders for the funds to lock up US$6 million in addition to the capital required to develop the field. However, Andalas will only terminate the agreement when we know that the licence has been terminated by GOI.

“Colter is currently drilling, and we look forward to providing shareholders with further news in the coming weeks both on Colter and the Company’s interest in Badger.”

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR).  Upon the publication of this announcement via a Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.

For further information, please contact:

Simon Gorringe Andalas Energy and Power Plc Tel: +62 21 2965 5800
Roland Cornish/ James Biddle Beaumont Cornish Limited
(Nominated Adviser)
Tel: +44 20 7628 3396
Colin Rowbury Novum Securities Limited
(Joint Broker)
Tel: +44 207 399 9427
Christian Dennis Optiva Securities Limited
(Joint Broker)
Tel: +44 20 3411 1881
Stefania Barbaglio Cassiopeia Services Limited                                       (Public Relations) Stefania@cassiopeia-ltd.com
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