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ECR Minerals #ECR – Updated Corporate Presentation

ECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia is pleased to announce it has published an updated corporate presentation on its website.

The presentation, which has been featured in our communications at the recent Mines and Money Investor show in London, is available at:

https://www.ecrminerals.com/investors-media/presentations

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

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). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

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 Queensland, Australia.

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), Mercator Gold Australia Pty Limited 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.

ECR holds a 70% 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, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.

Power Metal Resources #POW – December interview with CEO Paul Johnson

Alan Green talks to CEO Paul Johnson. We cover the drilling campaign at the Molopo Farms Complex project in Botswana, before Paul covers recent developments at the Tati Gold project, also in Botswana. We then look at developments in Canada, both at the group’s Athabasca Uranium project and the new Lithium project acquisition, before we turn to the upcoming IPO’s including Golden Metal Resources and First Development Resources. Paul looks at what the Christmas period will hold for the POW team and the likely news flow over the Xmas period and into the new year.

Vox Markets Podcast – Alan Green discusses HARL, TMOR and TYM

vox podcastBrand Comms CEO Alan Green appears on today’s Vox Markets podcast with Justin Waite to discuss:

  • Harland & Wolff #HARL
  • More Acquisitions (Megasteel) #TMOR
  • Tertiary Minerals #TYM

Link here:

https://www.voxmarkets.co.uk/articles/alan-green-talks-about-harland-wolff-more-acquisitions-tertiary-minerals-695267e

Power Metal Resources #POW – FDR Selta Lithium Exploration & Company Update

Power Metal Resources PLC (LON:POW),  the London listed exploration company seeking large-scale metal discoveries across its global project portfolio  provides an update to shareholders in respect of lithium focussed fieldwork at the Selta Project (“Selta” or the “Project”), located in Australia’s Northern Territory. Selta is held through its subsidiary  First Development Resources PLC  (“First Development Resources” or “FDR”) which is seeking a planned listing in the  London  capital markets (Power Metal holds 62.12% of FDR and 58.59% after transaction outlined below).

HIGHLIGHTS:

Phase II Lithium Focused Exploration Programme

· Lithium focussed Phase II follow-up fieldwork now underway to further examine the zonation of a prospective pegmatite system present at FDR’s 100% owned Selta Project. Pegmatites are the target lithology which have the potential to host lithium mineralisation.

· Approximately 700 potential outcropping pegmatites have been identified by desktop analysis, within a target area of circa 180km2 (see Fig.1 below). Given the size of the prospective area and the number of targets generated, the planned fieldwork will initially focus on a 30km2 area in the southeast of the Project (see Figure 1).

· The Phase II fieldwork follows on from the successful findings of the Phase I field reconnaissance programme in June 2022, which confirmed the presence of pegmatite geology over a small area within the south of the Project, with lithogeochemical analysis of 17 samples suggesting potential for a zoned pegmatite system originating from the nearby granites 1.

· A desktop analysis of lithium specific publicly available datasets, satellite imagery and purpose commissioned hyperspectral analysis previously outlined the presence of potentially pervasive outcropping pegmatites 2, 3 which are the subject of the current fieldwork campaign.

· Further information in respect of the lithium work programme is provided below.

Company Update

· FDR continues to advance preparations for its planned listing and is very close to completion of all material work streams.

· To further enhance FDR’s position in advance of the planned listing and in light of the positive progress across the exploration programmes at all projects, the net smelter return (“NSR”) royalties retained by the original vendors of FDR’s projects have been purchased by FDR.

· The two NSRs were originally announced on the acquisition of First Development Resources Pty Limited (“FDR Australia”)(RNS: 29.10.2021 4) and URE Metals Pty Ltd (“URE Metals”)(RNS: 19.11.2021 5) and were each a 2% NSR, with a 1% buyout right for A$1,000,000. The NSRs were held by the original shareholders of FDR Australia and URE Metals whose shareholdings were previously acquired, as outlined in the above dated announcements.

· Each NSR has been purchased for £150,000, payable through the issue of 1,875,000 new FDR ordinary shares of 1.0p (“New FDR Shares”) at an issue price of 8p per share, for a total consideration of £300,000 through the issue of 3,750,000 New FDR Shares. The price of 8p per New FDR Share  is specific to this NSR purchase transaction only and should not be taken as established pricing in relation to an IPO financing for the planned listing of FDR in the London capital markets.

· As a result, FDR holds a 100% interest in all projects and there are now no NSRs over any of its properties.

· Following the issue of the New FDR Shares, the total FDR issued share capital will amount to 65,894,076 shares of which Power Metal holds 38,605,697 shares representing 58.59% of FDR issued share capital.

Tristan Pottas, Chief Executive Officer of First Development Resources commented:

“Much of the recent focus has been on preparing for FDR’s planned UK listing, however, the team has also remained committed to advancing the project portfolio for the ongoing benefit of FDR shareholders.

Over the past several months the FDR team has worked hard to develop strong relationships with the key stakeholders at Selta to facilitate the efficient deployment of field teams to site to complete value enhancing work.

The technical analysis of the outcropping pegmatites will significantly improve our understanding of the system present at Selta and will help inform future work programmes with the intention of identifying zones within the Project with the potential to host lithium mineralisation.”

Paul Johnson, Chief Executive Officer of Power Metal Resources commented:

“The search for economic deposits of lithium continues to be the focus of many exploration companies globally as they look to capitalise on the strong market conditions which continue to reflect the lack of supply for the ever-growing demand for battery metals including lithium.

Importantly, with our readiness for diamond drilling at Wallal and the ongoing work programme at Selta, we are seeking to ensure FDR is a vibrant exploration business when listed.

The buyout of all project royalties by FDR was an important step, simplifying the structure of the planned listing interests and reflecting the value of FDR’s project portfolio which has been significantly enhanced since their original acquisition.”

Figure 1 : Selta Project showing lithium pegmatite and rare earth element prospective areas of interest and target area for current Phase II pegmatite focussed fieldwork

BACKGROUND – SELTA PROJECT LITHIUM REVIEW

The in-depth review of all publicly available geological, geophysical and geochemical data for the Selta Project identified multiple uranium and rare-earth element (“REE”) targets within the Selta Project area and highlighted the potential for lithium, gold and base-metal mineralisation. The potential for lithium presented an additional opportunity for a mineral discovery within the Selta Project area, an opportunity which had previously been unknown. To gain a better understanding of the potential for lithium-caesium-tantalum (“LCT”) type pegmatites, the Company immediately commenced a lithium review of all publicly available data to help refine target areas for further investigation and deployed a team to Selta to confirm the presence of pegmatite geology.

The announcement in respect of this lithium review and subsequent reconnaissance may be viewed through the following link:

https://www.londonstockexchange.com/news-article/POW/first-development-resources-company-update/15562865

During the reconnaissance the site team was able to confirm the presence of pegmatite geology and collect samples to determine mineralogy.

The results of the sampling and subsequent geochemical testing of pegmatites on the property indicated that the pegmatites analysed on the southwest of the property are part of zoned pegmatite system, most likely originating from the nearby granite. The initial sampling campaign programme covered only a very small portion of the property but provided valuable information for future exploration programmes.

SELTA PEGMATITE SAMPLING PROGRAMME

The mineral deposit model for LCT pegmatites is well defined by the United States Geological Survey and suggests LCT pegmatites tend to show a regional mineralogical and geochemical zoning pattern with respect to the inferred parental granite, with the greatest enrichment in the more distal pegmatites. FDR’s initial analysis of data acquired during the Selta lithium review supports this model.

FDR now plans to expand on this initial interpretation and conduct further exploration over a broader area.  Using the data acquired from previous desktop analysis and reconnaissance, a field team led by FDR’s exploration manager will conduct a targeted pegmatite mapping and sampling programme to acquire representative geochemical and geological data in the south of the Selta Project, where previous work has proven the presence of a pegmatite system.

This work aims to constrain the zonation believed to be present in the pegmatite system. The field work will include the systematic mapping of the surface expression of pegmatites along with the collection of representative rock chip samples, which will then be sent for geochemical analysis. This field work will feed into FDR’s technical understanding of pegmatites at Selta, to provide targets and inform future work programmes.

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support.

REFERENCE NOTES

Company announcement, First Development Resources – Company Update,  29 July 2022
(
https://www.londonstockexchange.com/news-article/POW/first-development-resources-company-update/15562865 )

Company announcement, First Development Resources – Selta Lithium Update,  13 June 2022
(
https://www.londonstockexchange.com/news-article/POW/first-development-resources-selta-lithium-update/15491241 )

Company announcement, Selta Project – Multiple Target Areas Identified,  16 March 2022
(
https://www.londonstockexchange.com/news-article/POW/selta-project-multiple-target-areas-identified/15371081 )

Company announcement, Power Metal Acquires 100% of FDR Australia,  29 October 2021
(
https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/w04g16x   )

Company announcement, Acquisition of Uranium & Rare-Earth Element Project – Australia,  19 November 2021
(
https://polaris.brighterir.com/public/power_metal_resources/news/rns/story/w1ye76w )

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

NOTES TO EDITORS

Power Metal Resources plc – Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Exploration Work Overview

Power Metal has multiple internal exploration programmes completed or underway, with results awaited.  The status for each of the Company’s priority exploration projects is outlined in the table below.

Project

Location

Current

POW %

Work Completed or Underway

Results Awaited

Athabasca Uranium

Canada

100%

Preliminary planning for work in Spring/Summer 2023 is ongoing.

Work programmes for Spring/Summer 2023.

Molopo Farms

Botswana

87.71%

Diamond drill programme underway. MLEM surveys planned over additional AEM targets identified.

Drill programme updates and findings from further MLEM survey work.

Tati Project

Botswana

100%

RC drilling and sampling of mine dumps complete.

Mine dumps processing and project commercial and exploration next steps.

 

Exploration work programmes may also be underway within Power Metal investee companies and planned IPO vehicles where Power Metal has a material interest, the findings from which will be released on their respective websites, with simultaneous updates through Power Metal regulatory announcements where required.  These interests are summarised in the table below:

Company

Status/Operations

Link

First Class Metals PLC

Investment – POW 27.91%

Exploration in the Schreiber-Hemlo region of Ontario, Canada

www.firstclassmetalsplc.com

 

Kavango Resources PLC

Investment – POW 9.85%

Exploration in Botswana

www.kavangoresources.com

First Development Resources PLC

Planned IPO – POW 62.12%* (58.59% post NSR buyout)

Exploration in Western Australia and the Northern Territory of Australia

www.firstdevelopmentresources.com

 

Golden Metal Resources PLC

Planned IPO – POW 83.13%

Exploration and development in Nevada, USA

www.goldenmetalresources.com

 

New Ballarat Gold PLC

Planned IPO – POW 49.9%

Exploration in the Victoria Goldfields of Australia

A new website is currently in development which will be found atwww.newballaratgoldcorp.com .

In the interim further information in respect of NBGC can be found at:

https://www.powermetalresources.com/project/victoria-goldfields/ .

 

Uranium Energy Exploration PLC

Planned IPO – POW on listing estimated 50-55%

Uranium exploration in the Athabasca region of Canada

www.uraniumenergyexploration.com

ECR Minerals #ECR live at Mines and Money London

Alan Green talks to ECR Minerals #ECR CEO Andrew Haythorpe live from Mines and Money London. The team have seen a lot of investor interest over the three days, and Andrew outlines what his team have seen as the key areas of interest from investors. He then outlines the upcoming news flow that investors can expect in the coming weeks and months.

Poolbeg Pharma #POLB – Influenza Artificial Intelligence model build completed & on track to deliver outputs in Q2 2023

Poolbeg Pharma (AIM: POLB, OTCQB: POLBF, ‘Poolbeg’ or the ‘Company’), a clinical stage infectious disease pharmaceutical company with a unique capital light clinical model, announces that, further to its announcement in March 2022 , the construction of the computational artificial intelligence (AI) influenza disease model has been completed by CytoReason Limited (‘CytoReason’), indicating that it is on track to deliver outputs in Q2 2023.

The model aims to unlock clinically meaningful insights into influenza infection and recovery through the analysis of Poolbeg’s unique human challenge trial data. CytoReason has now built a tailored AI model using Poolbeg’s data which will allow the team to identify novel influenza drug targets for Poolbeg.

CytoReason’s technologies are externally validated through its commercial partnerships with five of the world’s top ten global pharma companies accessing its world-leading AI models, including Pfizer, Roche, and Sanofi. CytoReason’s application of Poolbeg’s unique human challenge trial data to build and train its first AI model in infectious diseases further testifies to the value of this data. 

CytoReason’s world leading algorithms and experts will enable the Poolbeg team to identify the most promising drug targets to treat disease. The Company plans to source drugs with existing Phase I safety data that, in line with the Poolbeg business model, can immediately continue clinical development to rapidly generate early human proof of concept data for influenza, with the ultimate aim of monetising the asset through partnerships and licensing deals with pharma and biotech.

Jeremy Skillington, PhD, CEO of Poolbeg Pharma, said:

CytoReason builds world-class AI disease models and we look forward with great anticipation to the outputs from their analysis of our unique repository of clinical samples and associated data from influenza human challenge trials. Indeed this is the first time that AI is being used to analyse influenza human challenge trial data which Poolbeg is proud to be part of.”

“Completion of this first stage of development demonstrates yet another milestone reached in the Company’s stated R&D strategy and brings us one step closer to realising the significant opportunities that arise from this partnership. There is a growing focus on AI discovered drug targets within the industry and we are assessing interest in collaboration opportunities for our AI-enabled novel targets which we expect in Q2 2023 from this programme.  

David Harel, CEO of CytoReason, said:

“Now that our influenza disease model has been enriched by Poolbeg’s unparalleled data, we are excited to evaluate the novel disease mechanisms on our platform. This will potentially identify drug targets that can be used to develop treatments for influenza, a significant global health threat, in a much shorter time-frame and more cost effectively than with traditional reductionist analysis and drug discovery techniques.” 

-Ends-

Enquiries

Poolbeg Pharma Plc

Jeremy Skillington, CEO

Ian O’Connell, CFO

 

+44 (0) 207 183 1499

finnCap Ltd (Nominated Adviser & Joint Broker)

Geoff Nash, Charlie Beeson, Nigel Birks, Harriet Ward (ECM)

 

+44 (0) 207 220 0500

Singer Capital Markets (Joint Broker)

Phil Davies, Sam Butcher

 

  +44 (0) 207 496 3000

J&E Davy (Joint Broker)

Anthony Farrell, Niall Gilchrist

 

+353 (0) 1 679 6363

Instinctif Partners

Melanie Toyne Sewell, Rozi Morris, Tim Field, Adam Loudon

 

+44 (0) 20 7457 2020

poolbeg@instinctif.com

 

Further detail on Poolbeg’s Artificial Intelligence Programmes

Poolbeg Pharma has access to a unique private repository of clinical samples and associated data from human challenge trials via its relationship with hVIVO plc (formerly Open Orphan plc), a resource which is anticipated to expand over the coming years.Data from human challenge trials are unique in that they track a healthy subject through disease to recovery in carefully controlled and monitored isolation units, collecting samples throughout the course of disease, and vitally collecting matched baseline and follow-up samples before and after infection. This data is unique in the depth of longitudinal virology, health, biomarker and symptom data collected during the course of disease. These datasets provide clinical insights into disease that guides Poolbeg Pharma’s product acquisitions and clinical development.

CytoReason’s machine learning algorithm works by combing through enormous repositories of clinical data to build models of human disease, which can then be used by biotech and pharmaceutical partners to identify novel targets, prioritise mono/combination therapies, find biomarkers, and understand which patients will benefit most from those new treatments. CytoReason will be analysing blood transcriptomics, proteomics, DNA sequences and viral loads and disease signs and symptoms from the human challenge trials. The aim is for CytoReason to prioritise new drug targets quickly and cost effectively, in a manner consistent with Poolbeg’s business model. 

The Company is currently progressing two AI Programmes, the first in RSV in partnership with OneThree Biotech , and the second in influenza in partnership with CytoReason . Poolbeg believe that this is the first time that AI analysis has been undertaken on RSV and influenza human challenge trial data and samples to identify new drug targets and treatments. The unique nature of human challenge trials to produce disease progression data with high precision is revolutionising the insights into human disease.

About Influenza

Influenza is a viral pathogen that infects approximately one-eighth of the world’s population each year, an estimated 1 billion people infected globally, attacking the respiratory system leading to between 5 and 10 million hospitalisations and as many as 500,000 influenza related deaths. Survivors of influenza can suffer organ damage, leading to chronic and life-changing injuries. Health organisations have warned that the upcoming influenza season could be especially severe, as a consequence of low immunity to the virus due to the pandemic causing a break in exposure.

About Poolbeg Pharma

Poolbeg Pharma is a clinical stage infectious disease pharmaceutical company, with a unique capital light clinical model which aims to develop multiple products faster and more cost effectively than the conventional biotech model. The Company, headquartered in London, is led by a team with a track record of creation and delivery of shareholder value and aspires to become a “one-stop shop” for pharma and biotech seeking mid-stage products to license or acquire.

The Company is targeting the growing infectious disease market. In the wake of the COVID-19 pandemic, infectious disease has become one of the fastest growing pharma markets and is expected to exceed $250bn by 2025. 

With its initial assets from hVIVO plc (formerly named Open Orphan plc), an industry leading infectious disease and human challenge trials business, Poolbeg has access to knowledge, experience, and clinical data from over 20 years of human challenge trials. The Company is using these insights to acquire new assets as well as reposition clinical stage products, reducing spend and risk. Amongst its portfolio of exciting assets, Poolbeg has a small molecule immunomodulator for severe influenza (POLB 001) which has commenced its LPS human challenge trial with initial results expected by year end 2022; a first-in-class, intranasally administered RNA-based immunotherapy for respiratory virus infections (POLB 002); and a vaccine candidate for Melioidosis (POLB 003). The Company is also developing an oral vaccine delivery platform and is progressing two artificial intelligence (AI) programmes to accelerate the power of its human challenge model data and biobank, with results from the first programme expected by year end 2022. 

For more information, please go to  www.poolbegpharma.com  or follow us on  Twitter  and  LinkedIn @PoolbegPharma.

About CytoReason

CytoReason is a leading technology company developing computational disease models. The company collects proprietary data from pharmaceutical companies and uses it to simulate human diseases – tissue by tissue and cell by cell. With CytoReason’s massive database and AI-led platform, pharma and biotech companies can identify new opportunities, shorten trial phases, reduce development costs, and increase the likelihood of drug approval. To date, five of the world’s top ten pharma companies use CytoReason’s technology. For more information, visit www.cytoreason.com or follow us on LinkedIn or Twitter.

GreenX Metals #GRX – Arbitration Hearing Regarding Claims Against Poland Now Completed

GreenX Metals Limited (GreenX or the Company) is pleased to report the conclusion of the hearing for the international arbitration claims (Claim) against the Republic of Poland under both the Energy Charter Treaty (ECT) and the Australia-Poland Bilateral Investment Treaty (BIT) (together the Treaties). The hearing took place in London and lasted two weeks.

Highlights:

  • Combined BIT and ECT arbitration hearing has now been completed in front of the Arbitral Tribunal under the UNCITRAL Arbitration Rules for GreenX’s claims against Poland
  • Damages of up to £737 million (A$1.3 billion/PLN 4.0 billion) have been claimed including the assessed value of GreenX’s lost profits and damages related to both the Jan Karski and Debiensko projects, and accrued interest related to any damages
  • The Company has funded the Claim proceedings under its US$12.3 million Litigation Funding Agreement

Following completion of the hearing, the Arbitral Tribunal will render an Award (i.e., the legal term used for a decision by the tribunal) in due course. There is no specified date for an Award to be rendered. As previously advised, the arbitration and hearing proceedings are required to be kept confidential.

Mr Stoikovich, Chief Executive Officer of GreenX commented: “We are pleased to have completed the arbitration hearing for both the BIT and ECT Claims. There has been an enormous amount of time and effort put into the Claim by our legal and management teams. We now look forward to the Arbitral Tribunal rendering the Award in due course. GreenX has claimed up to £737 million in damages following Poland’s acts against the Company which prevented it from being able to develop the Jan Karski and Debiensko projects.”

DETAILS OF THE CLAIM

The Company’s Claim against the Republic of Poland is being prosecuted through an established and enforceable legal framework, with GreenX and Poland agreeing to apply the United Nations Commission on International Trade Law Rules (UNCITRAL) rules to the proceedings. The arbitration claims are being administered through the Permanent Court of Arbitration in the Hague.

The evidentiary hearing phase of the arbitration proceedings has now been completed in front of the Arbitral Tribunal.With completion of the hearing, the Arbitral Tribunal will render an Award in due course. There is no specified date for an Award to be rendered. The Company’s claims for damages against Poland are in the amount of up to £737 million (A$1.3 billion/PLN4.0 billion), which includes a revised assessment of the value of GreenX’s lost profits and damages related to both the Jan Karski and Debiensko projects, and accrued interest related to any damages. The Claim for damages has been assessed by independent external quantum experts appointed by GreenX specifically for the purposes of the Claim.

In July 2020, the Company announced it had executed the Litigation Funding Agreement (LFA) for US$12.3 million with Litigation Capital Management (LCM). The facility is currently being drawn down to cover legal, tribunal and external expert costs as well as defined operating expenses associated with the Claim. The LFA is a limited recourse loan with LCM that is on a “no win – no fee” basis.

In September 2020, GreenX announced that it had formally commenced with the Claim by serving the Notices of Arbitration against the Republic of Poland. In June 2021, GreenX announced that it had formally lodged its Statement of Claim in the BIT arbitration, including the first assessed claim for compensation. The Company’s Statement of Reply, the last material filing to be made by the Company for the BIT arbitration proceedings, was submitted in July 2021. The Statement of Reply addresses various points raised by the Republic of Poland in their Statement of Defence. The Statement of Reply also contains a re-evaluation of the claim for damages based on responses to Poland’s Statement of Defence.

GreenX’s dispute alleges that the Republic of Poland has breached its obligations under the applicable Treaties through its actions to block the development of the Company’s Jan Karski and Debiensko projects in Poland which effectively deprived GreenX of the entire value of its investments in Poland.

In February 2019, GreenX formally notified the Polish Government that there exists an investment dispute between GreenX and the Polish Government. GreenX’s notification called for prompt negotiations with the Government to amicably resolve the dispute and indicated GreenX’s right to submit the dispute to international arbitration in the event of the dispute not being resolved amicably.

GreenX’s investment dispute with the Republic of Poland is not unique, with international media widely reporting that the political environment and investment climate in Poland has deteriorated since the change in Government in 2015. As a result, there are a significant number of International Arbitration claims being bought against Poland.

Alan Green covers Cora Gold #CORA & Blencowe Resources #BRES on this week’s Stockbox Research Talks

Alan Green covers Cora Gold #CORA & Blencowe Resources #BRES on this week’s Stockbox Research Talks

Markets and Stocks – Doc Holliday talks to Alan Green

As we head towards Christmas, Alan Green and Doc Holliday talk markets and stocks. We discuss the macro events in the UK and the opportunities that Brexit and inflation could be throwing up for UK agriculture before we turn to stocks. Doc covers Harland & Wolff #HARL, ECR Minerals #ECR, Contango Holdings #CGO, Emmerson #EML, Longboat Energy #LBE, Poolbeg Pharma #POLB, hVIVO #HVO, Reabold Resources #RBD and More Acquisitions #TMOR.

ECR Minerals #ECR – Payment to GoldOz PL

ECRECR Minerals plc (LON: ECR), the exploration and development company focused on gold in Australia is pleased to announce it will issue A$120,000 of fees to GoldOz PL in satisfaction of all fees owing to them as adviser in connection with the recent option agreement and potential acquisition of  Placer Gold Pty Limited as announced on 27 October 2022. This fee is to be satisfied by a payment of A$60,000 in cash and A$60,000 in shares through the issue of 3,272,608 shares at a price of 1.03p calculated by reference to the 30 day VWAP.

Application has been made for the shares to be admitted to trading on AIM (“Admission”). Admission is expected to occur on or around 28 November 2022. Upon Admission, ECR’s issued ordinary share capital will comprise 1,067,737,159 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and following Admission may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 

ECR Minerals plc Tel: +44 (0) 20 7929 1010
David Tang, Non-Executive Chairman

Andrew Haythorpe, CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com
WH Ireland Ltd   Tel: +44 (0) 207 220 1666
Nominated Adviser

Katy Mitchell / Andrew de Andrade

SI Capital Ltd Tel: +44 (0) 1483 413500
Broker
Nick Emerson
Novum Securities Limited  Tel: +44 (0) 20 7399 9425
Broker

Jon Belliss

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). MGA is currently drilling at the Bailieston Blue Moon Project (EL5433) and undertaking geochemical exploration on the Creswick (EL6148) project and has an experienced exploration team with significant local knowledge in the Victoria Goldfields and wider region.

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 Queensland, Australia.

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), Mercator Gold Australia Pty Limited 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.

ECR holds a 70% 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, which has a 43-101 compliant resource. ECR also holds a royalty on the SLM gold project in La Rioja Province, Argentina and can potentially receive up to US$2.7 million in aggregate across all licences.

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