First Class Metals #FCM – Private Subscription. New Directors Share Loan

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) is a UK metals exploration company focused on the discovery of economic metal deposits across its extensive Canadian – Northern Ontario land holding, is pleased to announce that it has completed a private placing of 3,035,714 ordinary shares of £0.001 par value (“Shares”) (the “Placing Shares”) at a price of 2.8 pence per Placing Share (the “Placing Price”), raising gross proceeds of £85,000 (the “Placing”).

The Placing Price represents a 5.6% premium to the mid-market closing price of the Company’s shares on 16 July 2024, the last trading date prior to the completion of the placing.

Director’s-Stock Lending Agreement(s)

The Company does not presently have sufficient headroom to enable the issue and admission of the Placing Shares which are required to be issued pursuant to the Placing without the production of a FCA approved prospectus. The Company is therefore proposing that the director, James Knowles, loan a number of shares amounting, in aggregate, to the Placing Shares, to the Company by means of a share loan agreement (the “Share Lending Agreement”), to facilitate the Placing by the Company. This loan involves no consideration being paid or security granted to James Knowles or a chargeable fee.

The Placing is expected to be completed on or around 18 July 2024.

The Share Lending Agreements provide for the allotment of an aggregate of 5,912,059 new Shares in the Company to James Knowles by 30 December 2024 to replace the Shares loaned in terms of the Share Lending Agreement.

James Knowles has elected not to charge a fee for the loan of these shares.

Material Related Party Transaction

James Knowles is a director of the Company. The Share Lending Agreement is a material related party transaction (“MRPT”) under the Disclosure Transparency & Guidance Rules

Marc Sale, Marc Bamber and Andrew Williamson, being the independent directors for the purpose of this MRPT, have approved the MRPT as being fair and reasonable from the perspective of FCM and its shareholders.

Issue of Fee Shares & Zigzag Second Year Option to Nuinsco

In addition, 1,785,714  Shares are being placed with various professional partners, to satisfy outstanding professional fees from parties who have opted to take payment in  Shares over a cash payment.  We welcome this commitment to the Company. 

Zigzag Year Two Share Option Payment

1,090,631 new Shares are being issued to Nuinsco Resources Limited in respect of the year two Zigzag ‘option to earn in’ (1see news release 9th March 2023), they will rank pari passu with the Company’s existing issued ordinary shares.

1https://polaris.brighterir.com/public/first_class_metals/news/rns/story/x8eolox

Both the professional fee shares & Zigzag Second Year Option payment are being made from the Share Lending Agreement. 

Total Voting Rights

The total number of voting rights in the Company remains unchanged. The figure of 91,741,361 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.

Directors Participation

As part of the Placing, 428,571 Shares were placed with two Directors of the Company, as set out below:

Director

Number of new Shares

Marc Sale 

321,429

James Knowles

107,142

 

Ends

For further information, please contact:

James Knowles, Executive Chairman

JamesK@Firstclassmetalsplc.com

07488 362641

Marc J Sale, CEO

MarcS@Firstclassmetalsplc.com

07711 093532

Novum Securities Limited (Financial Adviser) 

David Coffman/ George Duxberry

 www.novumsecurities.com

(0)20 7399 9400

 

First Class Metals #FCM – Result of AGM

First Class Metals plc (LSE: FCM),  is pleased to announce that it held its Annual General Meeting today and all resolutions were duly passed.

The Proxy votes received in advance of the meeting were: 

Resolution

For

Against

Withheld

Total votes cast

No. of votes

%

No. of votes

%

 

 

1.    Ordinary Resolution – to receive and adopt the Annual Report and Accounts

33,702,906

87.78

4,648,673

12.12

0

38,351,579

2.    Ordinary Resolution – to re-appoint Royce Peeling Green Limited as auditors

33,702,906

87.78

4,648,673

12.12

0

38,351,579

3.    Ordinary Resolution – to authorise the Directors to determine the auditor’s remuneration

33,602,906

87.61

4,648,673

12.12

100,000

38,351,579

4.    Ordinary Resolution – To approve Directors Remuneration

29,630,239

77.25

8,621,340

22.47

100,000

38,351,579

5.    To approve Directors Remuneration Policy

29,630,239

77.25

8,621,340

22.47

100,000

38,351,579

6.    Ordinary Resolution – To elect Andrew Williamson as a Director of the Company

30,030,181

78.3

8,321,398

21.69

0

38,351,579

7.    Ordinary Resolution – to authorise the Directors to allot shares

29,630,239

77.25

8,621,340

22.47

100,000

38,351,579

8.    Special Resolution – to authorise the Directors to disapply pre-emption rights

29,509,236

76.94

8,626,147

22.49

216,196

38,351,579

Notes:

A vote withheld is not a vote in law and is not counted in the calculation of the percentage of the votes validly cast for or against a resolution.

All resolutions put to the meeting were carried.

A copy of the poll results for the Annual General Meeting will also be available on the Company’s website:www.firstclassmetalsplc.com.

– Ends –

For further information please visit www.firstclassmetalsplc.com or contact:

James Knowles, Executive Chairman

JamesK@Firstclassmetalsplc.com

07488 362641

Marc J Sale, CEO

MarcS@Firstclassmetalsplc.com

07711 093532

Novum Securities Limited (Financial Adviser)

David Coffman/ George Duxberry

 www.novumsecurities.com

(0)20 7399 9400

European Green Transition #EGT – Operational update: CEO Aiden Lavelle & CFO Jack Kelly talk to Alan Green

European Green Transition #EGT – Operational update: CEO Aiden Lavelle & CFO Jack Kelly talk to Alan Green. We discuss:

✅ Latest developments at the Olserum Rare Earths project, Sweden
✅ Limni Copper tailings project, Cyprus
✅ Solar Energy project to follow the copper tailings project in Cyprus
✅ Altan Farm carbon credit project, Ireland

Sharepickers – Alan Green discusses Beeks Financial #BKS, Ramsdens FX #RFX & Cadence Minerals #KDNC with Justin Waite

Sharepickers – Alan Green discusses Beeks Financial #BKS, Ramsdens FX #RFX & Cadence Minerals #KDNC with Justin Waite

Anglesey Mining #AYM – Change of Broker

The Company announces its Joint Broker has changed to Zeus Capital Limited with immediate effect.

This change follows completion of the acquisition by Zeus Capital Limited of the WH Ireland Capital Markets Division (from WH Ireland Limited), announced earlier today.

Enquiries:

Anglesey Mining Plc    www.angleseymining.co.uk

Rob Marsden, Chief Executive Officer  Tel: +44 (0)7531 475111

Andrew King, Interim-Chairman   Tel: +44 (0)7825 963700

Davy (Nominated Adviser & Joint Broker)

Brian Garrahy     Tel: +353 1 679 6363

Daragh O’Reilly

Zeus Capital Limited (Joint Broker)

Harry Ansell     Tel: +44 (0) 203 829 5000

Katy Mitchell

 

Cadence Minerals #KDNC – Change of Nominated Adviser and Broker

The Company announces its Nominated Adviser and Broker has changed to Zeus Capital Limited with immediate effect. 

This change follows completion of the acquisition by Zeus Capital Limited of the WH Ireland Capital Markets Division (from WH Ireland Limited), announced earlier today.

For further information please contact: 

Cadence Minerals plc

+44 (0) 20 3582 6636

Andrew Suckling

Kiran Morzaria

Zeus Capital Limited (NOMAD & Broker)

+44 (0) 20 3829 5000

James Joyce

Darshan Patel

Isaac Hooper

Fortified Securities – Joint Broker

+44 (0) 20 3411 7773

Guy Wheatley

Brand Communications

+44 (0) 7976 431608

Public & Investor Relations              

Alan Green

 

Blencowe Resources #BRES – Fourth tranche US$0.5million Grant Funding received from US International Development Finance Corporation

Blencowe Resources Plc (LSE: BRES) is pleased to announce the receipt of a fourth tranche of funding from the United States International Development Finance Corporation (“DFC”).  The DFC is the private sector lending arm of the United States Government.  This latest payment of US$0.5 million will continue to support the ongoing Orom-Cross Definitive Feasibility Study (“DFS”) costs and brings the total grant funding received to US$3.5 million since the Technical Assistance Grant funding agreement was signed with the DFC in September 2023.

Highlights:

·   US Government support: via the DFC, remains a committed partner to help deliver Orom-Cross Definitive Feasibility Study (“DFS”).

·    US$3.5 million input by DFC to date: with a further US$1.5M committed on future milestones.

·    DFC remain an invested and incentivised cornerstone party: to consider a full funding solution for Orom-Cross project implementation once the DFS is successfully completed.

·    DFS work continues: as Blencowe drives towards completion, including offtake contracts.

Blencowe has successfully completed further key DFS milestones to unlock an additional $0.5 million grant funding from the DFC. This is part of the overall US$5.0 million Technical Assistance Grant agreement that Blencowe completed with the DFC in September 2023.  Orom-Cross remains one of the only pre-production resource projects worldwide to have received this US Government/DFC assistance.

Blencowe continues to consider all means possible to value-add at Orom-Cross, using the Project’s unique characteristics to appeal to graphite industry leaders.  Orom-Cross is becoming well known in graphite markets as one of the lowest operating cost producers worldwide that can also be brought into production for a much lower capital cost than most of its peers.  Furthermore, the high quality of its end products have attracted a host of interested parties for offtake discussions, and the Company is working through a rigorous final bulk sample testing process to become qualified to then lock down offtake contracts with tier one buyers.

The DFC involvement in the Project provides Orom-Cross with top tier international funding party credibility, as well as actual cash towards the completion of the DFS.  This unique collaboration is another key differentiating factor for the Company. 

Cameron Pearce, Executive Chairman commented;

“We will continue to use a combination of DFC funding and our own funds raised to get the DFS completed in a fashion that does not substantially dilute our shareholders.  This is important to us.  We have come a long way through DFS already with minimum impact to our register and we want to continue that same course of action ahead.”

For further information please contact:

 

  Blencowe Resources Plc

Sam Quinn

 

www.blencoweresourcesplc.com

Tel: +44 (0)1624 681 250

info@blencoweresourcesplc.com

Investor Relations

Sasha Sethi

Tel: +44 (0) 7891 677 441

sasha@flowcomms.com

 

Tavira Financial 

Jonathan Evans

Tel: +44 (0)20 3192 1733

jonathan.evans@tavira.group

 

 

Twitter https://twitter.com/BlencoweRes

LinkedIn https://www.linkedin.com/company/72382491/admin/

GreenX Metals #GRX to continue exploration at Eleonore North Gold Prospect

GreenX Metals Ltd (GreenX or the Company) is pleased to announce that it has entered into a revised agreement with Greenfields Exploration Pty Ltd (GEX) to acquire up to 100% in the Eleonore North gold project (Eleonore Northor the Project) in eastern Greenland. 

REVISED TERMS

Following renegotiation with GEX, GreenX will acquire a 100% interest in the Eleonore North project through a revised Option Agreement.  Having spent the required amount on an agreed work exploration program for the Project; GreenX will now acquire the Project on revised terms as follows:

o   an issue of 1.5% Net Smelter Royalty (NSR); plus

o   a payment of A$300,000 in GreenX shares (escrowed for 12 months from date of issue).  There will be no cash payment as in the original option agreement; plus

o   a further deferred payment of A$1,000,000 in cash or shares (with a floor price of A$0.30) in GreenX, at the Company’s election, if GreenX decides to retain the Project after 31 December 2025 subsequent to having completed further exploration work.

GreenX will now act as the project manager for Eleonore North.

These revised terms provide GreenX with the opportunity to retain the Project with no further cash payments and conduct further exploration work before making a decision to continue with the Project by 31 December 2025.

RESULTS FROM SEISMIC SURVEY

The Company commissioned a passive seismic survey over the Noa Pluton target at Eleonore North licence for the 2023 field season. Passive seismic surveys use ambient noises generated by nature instead of active noise sources. Natural noise sources include waves crashing in the ocean or creaking glaciers whereas active noise sources include vibration trucks or explosives. Passive seismic surveys with ambient noise are therefore much less impactful on the environmental.

Fieldwork was completed by GEX in conjunction with the Institute of Mine Seismology (IMS). Eleonore North is prospective for reduced intrusion related gold systems (RIRGS) similar to the Fort Knox and Dublin Gulch/Eagle Gold deposits. The RIRGS deposit style hosts structurally-controlled gold in plutons as well as in the surrounding hornfels aureole. The purpose at of the survey at Eleonore North was to identify plutons that are blind to the surface in the target area.

Data collected from the array of passive seismic nodes was processed by IMS. As shown in the conceptual 3D velocity model below, multiple blind plutons may be situated in the target area (Figure 1). Hornfels have been mapped at Noa Dal, but the causative plutons have not yet been identified. Noa Dal has only been mapped at 1:250,000 scale by GEUS, so it is possible that detailed mapping could identify the currently unknown plutons. More likely however, the causative plutons are blind to the surface (as shown in the cross-section in Figure 1).

The results from 2023’s passive seismic survey have significantly reduced the exploration search space at Eleonore North. Future fieldwork will target these sites where plutons approach the surface. Within a RIRGS setting, 1-2 km-wide elongated plutons rising from a deeper batholith are very favourable exploration targets.

Figure 1:  IMS’s conceptual 3D velocity model from Noa Dal target area with GreenX’s interpretation of target plutons. Inset shows survey location in Noa Dal. Velocity values above 2,900 m/s are considered to be igneous material. The A-A’ section shows three potential plutons extending upwards towards the surface.

PLANNED 2024 ACTIVITIES

GreenX is again collaborating with the Geological Survey of Denmark and Greenland (GEUS). For the last two years, GEUS has conducted fieldwork in the region surrounding and within the Eleonore North licence. GEUS has a multi-year project working to update the geological maps to a higher level of detail. This work is primarily being done with traditional field mapping, sample collection, and helicopter-based photography. Based on previous discussions with GEUS, there is the possibility to commission GEUS to fast-track production of an updated geological map at Eleonore North based on helicopter photography collected in 2023. Samples collected by GEUS are also available in Copenhagen for inspection and analysis. These samples may provide a new regional perspective on the gold systems present in NE Greenland.

Figure 2: Map showing regional historical samples collected by GUES as publicly available from GUES, a subset of which are available for inspection.

ELEONORE NORTH SUMMARY

The Eleonore North gold project comprises of two exploration licences covering an area of 1,221 km2 in an arid part of north-eastern Greenland, approximately 1,000 km south of the Company’s Arctic Copper Project (ARC) (Figure 3).

The two exploration licences are located on Ymer Island in the south and the Strindberg Land peninsula in the north (Figure 4). The 300 m deep fjords in this area are around 6 km wide, sailed annually by large container ships, and aircraft frequent the area. The Company had identified no significant environmental, archaeological, or social challenges in the area.

Figure 3: Map of Greenland showing GreenX’s ARC and Eleonore North license areas

Figure 4: Map showing prospects and geological features within the Eleonore North license areas

Eleonore North has the potential to host a “reduced intrusion-related gold system” (RIRGS). RIRGS can host large scale, shallow, bulk tonnage gold deposits, analogous to large bulk-tonnage deposit types found in Canada including Fort Knox and Dublin Gulch. The Project remains underexplored, with the existence of a possible RIRGS being a relatively new geological interpretation based on the historic data.

Gold mineralisation is documented at the high-priority Noa Pluton prospect within Eleonore North. There is a geophysical “bullseye” anomaly 6 km wide co-incident with elevated gold mineralisation from historical geochemical sampling with anomalous gold mineralisation associated with quartz veining exposed at surface over a length of up to 15 km (Figure 5). Historical sampling includes 4 m chip sample grading 1.93 g/t Au and 1.9% Sb (refer to Appendix 1 and previously reported in ASX announcement dated 10 July 2023)

Field work during 2023 consisted of a seismic survey to determine the depth from surface to the Noa Pluton to aid in future drill targeting.

A map of a geoglyphical area Description automatically generated with low confidence

Figure 5: Eleonore North licence area showing the 6km diameter geophysical anomaly co-incident with gold veining visible at surface over some 15km at the high priority Noa Pluton prospect

ENQUIRIES

Ben Stoikovich
Chief Executive Officer

+44 207 478 3900

 

Sapan Ghai
Business Development

+44 207 478 3900

 

 

-ENDS-

ECR Minerals #ECR – Board Changes

ECR Minerals plc (AIM: ECR), the exploration and development company focused on gold in Australia, announces that Non-Executive Director and former Chairman David Tang has informed the Board that he has decided to step down as a non-executive director of the Company in order to pursue his other interests. David will depart from the board with immediate effect.

Nick Tulloch, Chairman of ECR, commented: “David chaired the board of ECR through a difficult period for the Company and has been a committed supporter of changes that we have been making over the past year.  I was particularly pleased that, when David stepped down as Chairman earlier this year, he agreed to stay on the board and provide us with his insight and detailed knowledge of our operations.  On behalf of the board of ECR, we wish him well in his future endeavours.”

For further information please contact

ECR Minerals plc Tel: +44 (0) 1738 317 693
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
Zeus Capital Limited   Tel: +44 (0) 203 829 5000
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green

ABOUT ECR MINERALS PLC

ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd (“MGA”) has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, has six licence applications outstanding which includes one licence application lodged in eastern Victoria (Tambo gold project).

ECR also owns 100% of an Australian subsidiary LUX Exploration Pty Ltd (“LUX”) which has three approved exploration permits covering 946 km2 over a relatively unexplored area in Lolworth Range, Queensland, Australia. The Company has also submitted a license application at Kondaparinga which is approximately 120km2 in area and located within the Hodgkinson Gold Province, 80km NW of Mareeba, North Queensland.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX) and the subsequent spin-out of the Avoca and Timor projects to Leviathan Gold Ltd (TSX-V: LVX), MGA has the right to receive up to A$2 million in payments subject to future resource estimation or production from projects sold to Fosterville South Exploration Limited.  MGA also has approximately A$75 million of unutilised tax losses incurred during previous operations.

ECR holds a royalty on the SLM gold project in La Rioja Province, Argentina which could potentially receive up to US$2.7 million in aggregate across all licences.

ECR Minerals #ECR – Change of Nominated Adviser and Broker

ECR Minerals plc (AIM: ECR), the exploration and development company focused on gold in Australia, announces its Nominated Adviser and Broker has changed to Zeus Capital Limited with immediate effect.

This change follows completion of the acquisition by Zeus Capital Limited of the WH Ireland Capital Markets Division (from WH Ireland Limited), announced earlier today.

For further information please contact

ECR Minerals plc Tel: +44 (0) 1738 317 693
Nick Tulloch, Chairman

Andrew Scott, Director

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
Zeus Capital Limited   Tel: +44 (0) 203 829 5000
Nominated Adviser

Katy Mitchell / Andrew de Andrade

Axis Capital Markets Limited Tel: +44 (0) 203 026 0320
Broker
Ben Tadd/Lewis Jones
Brand Communications Tel: +44 (0) 7976 431608
Public & Investor Relations
Alan Green
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