Blencowe Resources Plc (“Blencowe Resources”) (LSE: BRES) is pleased to announce that the Annual General Meeting (“AGM”) of the Company will be held at 55 Athol Street, Douglas, Isle of Man at 10.00 am on 31 March 2021. A Notice of AGM and Form of Proxy is today being posted to shareholders.
Due to the current Government guidance regarding Covid-19, the AGM will be held as a closed meeting and shareholders should not seek to attend the meeting in person and are instead strongly encouraged to complete and return the Form of Proxy in accordance with the instructions printed thereon.
A copy of the AGM Notice and Form of Proxy will shortly be available at https://blencoweresourcesplc.com
Blencowe Resources Plc
Sam Quinn (London Director)
Tel: +44 (0)1624 681 250
Brandon Hill Capital Limited
Jonathan Evans (Corporate Finance)
Tel: +44 (0)20 3463 5000
Cadence Minerals #KDNC – Macarthur Minerals (TSX-V: MMS) (ASX: MIO) Announces Spin-Out of its Pilbara Gold Copper Tenements to Timeless Capital.
Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) is pleased to note that Macarthur Minerals (TSX-V: MMS) (ASX: MIO) (the “Company” or “Macarthur”) and Timeless Capital Corp. (TSX-V: TLC.P) (“Timeless”) have entered into a letter of intent in respect of a proposed transaction (the “Transaction”), whereby Timeless shall acquire: (i) from Macarthur, through its wholly owned subsidiary, Macarthur Lithium Pty Ltd (“MLi”), a portfolio of Macarthur’s Pilbara, Western Australia tenements (“Pilbara Assets”) plus CAD$1.4 million in cash which Macarthur may choose to fund from the value derived from Macarthur’s shareholding in FE Limited (collectively, the “Macarthur Contribution”), and (ii) from Zanil Pty Ltd. (“Zanil”), an Australian company, a portfolio of gold copper tenements, located near Leonora in Western Australia (“Central Goldfield Assets”), in exchange for equity of Timeless (collectively, the “Transaction”) which assets were optioned by Macarthur to undertake due diligence under the recently announced agreement with Zanil.
It is anticipated that following completion of the Transaction:
- Macarthur will hold approximately 26.67% (11,428,571) of the outstanding Timeless Shares, issued in consideration of the Macarthur Contribution;
- Zanil will hold approximately 26.67% (11,428,571) of the outstanding Timeless Shares, issued in consideration for the Central Goldfield Assets; and
- the current Timeless shareholders will hold approximately 9.68% of the outstanding Timeless Shares.
Macarthur continues to primarily focus its resources on bringing its flagship Lake Giles Iron Project into production. The Timeless Transaction will allow value to be attributed to the non-iron Pilbara assets held by Macarthur, providing an opportunity to independently resource the exploration of the key areas without distracting time and resources away from the Lake Giles Iron Project development path. Following completion of the transaction, Macarthur will have a material shareholding in Timeless.
In connection with the Transaction, the Vendors shall complete a concurrent arm’s length financing for anticipated gross proceeds of a minimum of CAD$5 million (the “Concurrent Financing”). It is currently anticipated that the Concurrent Financing will result in the issuance of up to 14,285,714 shares at a price of CAD$0.35 per share. The Concurrent Financing will be comprised of a non-brokered portion, in the amount of CAD$2.5 million, comprised of lead orders from arm’s length parties introduced by the Vendors, and a brokered portion in the amount of CAD$2.5 million. All securities issued in connection with the Concurrent Financing will be exchanged for Timeless Shares pursuant to the Transaction. The proceeds of the Concurrent Financing will be used primarily for the purposes of supporting a targeted exploration programme of works across on the Pilbara Assets and the Central Goldfields Assets.
The full announcement can be viewed here: https://macarthurminerals.com/wp-content/uploads/2021/03/MMS-NR-Spin-out-of-Pilbarra-assets-to-Timeless_4-March-2021.pdf
Cadence Minerals Holding in Macarthur
Cadence holds approximately 1% 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.
This news release is not for distribution to United States Services or for Dissemination in the United States.
– Ends –
|For further information:
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.
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.
Brand Comms CEO Alan Green talks to ECR Minerals #ECR CEO Craig Brown about the company’s flagship gold exploration projects in the heart of Australia’s Victoria Goldfields. Taking slides from the latest company presentation, Craig talks about ECR’s wholly owned drill rig, HQ at Bendigo and the £4m funding and extra cash resources owned by the company. We look at the Creswick Gold project located close to the Ballarat Gold Mine before discussing this year’s production numbers at the Fosterville goldmine and how they might compare to assay results and ore grades currently being drilled at the Bailieston HR3 target. Craig looks at Black Cat, Cherry Tree and other targets at Bailieston, before we move onto the blue sky potential at the Tambo Project, and the connection with ECR’s Head Geologist Dr Rodney Boucher. We end with some takeaway points for investors.
Tertiary Minerals plc, the AIM traded company building a multi-commodity project portfolio announces that it is holding a General Meeting on Wednesday 24 March 2021. The business of the General Meeting will be to consider and, if thought fit, to pass a special resolution to empower the directors to disapply the pre-emption rights in respect of those shares that were authorised for issue by Shareholders at the Annual General Meeting of the Company held on 28 January 2021 (“the AGM”).
Having raised capital recently, as announced on 26 January 2021, the Company has no immediate plans to issue new securities.
However, a resolution to disapply pre-emptive rights has been approved at all previous Annual General Meetings but failed to pass at this year’s AGM. Given that only 4.25% of shares then in issue were voted at the AGM, the Directors are of the view that the wishes of the Shareholders as a whole may not have been properly represented and would like to give Shareholders a second opportunity to consider granting this authority.
The Board considers that this resolution is in the best interest of the Company’s shareholders and the Company as a whole. Accordingly, the Board unanimously recommends that Shareholders vote in favour of the New Resolution, as they intend to do so in respect of their own beneficial holdings of Ordinary Shares which amount, in aggregate, to 15,579,080 Ordinary Shares representing approximately 1.32 per cent. of the total issued share capital of the Company as at today’s date.
A circular and Notice of General Meeting has today been posted to shareholders.
General Meeting Arrangements
The General Meeting will be held at 11.00am on Wednesday 24 March 2021.
The Board continues to monitor the Government advice in relation to the COVID-19 situation and public gatherings. The Board believes that all shareholders will wish to comply with these guidelines and therefore physical attendance in person at the GM will not be permitted. The Company encourages shareholders to appoint the Chairman as their proxy with their voting instructions. Forms of Proxy must be received by no later than 48 hours before the commencement of the meeting and can be submitted electronically at www.signalshares.com.
The Company will continue to monitor the situation and if Government advice dictates that further changes to the arrangements for the General Meeting are necessary, details will be published on the website and via a Regulatory Information Service.
For more information please contact:
|Tertiary Minerals plc:|
|Patrick Cheetham, Executive Chairman||+44 (0) 1625 838 679|
|SP Angel Corporate Finance LLP
Nominated Adviser and Broker
|Richard Morrison||+44 (0) 203 470 0470|
|Peterhouse Capital Limited
|Lucy Williams||+ 44 (0) 207 469 0930|
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
|Posting of the Circular and Notice of General Meeting||Thursday 4 March 2021|
|Latest time and date for receipt of Forms of Proxy||11.00 a.m. Monday 22 March 2021|
|Latest time and date for receipt of CREST Proxy Instructions||11.00 a.m. Monday 22 March 2021|
|General Meeting||11.00 a.m. Wednesday 24 March 2021|
|Announcement of the results of the General Meeting||Wednesday 24 March 2021|
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information as defined in Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company announces that the Operator of the Falcon-1 well in East Texas, USA, has reported a recent increase in water production alongside a fall in pressure at Falcon-1. To manage this, the well head choke size has now been reduced.
These developments have resulted in significantly lower reported oil and gas production rates at Falcon-1. The Operator is assessing the situation and has indicated that it intends to run downhole logs to gather more information in order to recommend an appropriate course of action.
Mosman has a 50% working interest in the well and will provide further updates as appropriate.
Qualified Person’s Statement
The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.
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.
Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director
NOMAD and Broker
SP Angel Corporate Finance LLP
Stuart Gledhill / Richard Hail / Soltan Tagiev
+44 (0) 20 3470 0470
+44 (0) 20 3405 0205
+44 (0) 7525 324431
Monecor (London) Ltd trading as ETX Capital Thomas Smith
020 7392 1432
Updates on the Company’s activities are regularly posted on its website:
ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on its 100% owned gold projects in Victoria, Australia, is pleased to announce that a new company presentation is now available to view on the company website.
MARKET ABUSE REGULATIONS (EU) No. 596/2014
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 Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ECR Minerals plc
Tel: +44 (0)20 7929 1010
David Tang, Non-Executive Chairman
Craig Brown, Director & CEO
WH Ireland Ltd
Tel: +44 (0)161 832 2174
Katy Mitchell/James Sinclair-Ford
SI Capital Ltd
Tel: +44 (0)1483 413500
Brand Communications (PR & IR)
Tel +44 (0)7976 431608
ABOUT ECR MINERALS PLC
ECR Minerals is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia, and two license applications lodged in eastern Victoria for the Tambo Gold project. ECR is currently drilling high priority targets on the Bailieston gold project using the Company’s own diamond drill rig, backed by a support network at the company’s central Victoria HQ at Bendigo. ECR has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.
Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has the right to receive up to A$2 million in payments subject to future resource estimation or production at those projects.
ECR has earned a 25% interest in the Danglay gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, and holds a royalty on the SLM gold project in La Rioja Province, Argentina.