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Alan Green discusses Forum Energy $FMC & Tertiary Minerals #TYM on the Stockbox Research podcast
Alan Green discusses Forum Energy $FMC & Tertiary Minerals #TYM on the Stockbox Research podcast
Tertiary Minerals #TYM – Appointment of Managing Director
Tertiary Minerals plc is pleased to announce the appointment of Mr. Patrick Cullen as Managing Director of the Company with immediate effect.
Mr. Cullen is an experienced mineral exploration executive with a strong technical background in geology, geophysics and mining and a proven track record leading multi-disciplinary teams across Southern Africa and Europe.
Commenting today, Executive Chairman Patrick Cheetham said:
“I am delighted that Patrick has agreed to join us. He does so at an interesting time in the development of our exploration projects in the USA and his experience in Zambia will be a valuable asset as we seek to progress our recent initiatives there. The Board and I look forward to working with him on the future success of the Company.”
Most recently, Mr. Cullen was Chief Executive Officer at AIM listed Arkle Resources PLC, exploring for gold and base metals in Ireland. Prior to that, he was Technical Director at Kodal Norway (UK) Limited and he has also held senior positions at Montero Mining & Exploration Ltd and African Energy Resources Ltd, exploring for phosphate and uranium in Africa. Prior to this, he held technical roles with AngloGold Ashanti and Schlumberger.
He holds a degree in Geology from the University of Portsmouth and an MBA from the University of Southern Queensland.
The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Patrick Brendan Cullen, aged 50:
Current directorships and/or partnerships: Former directorships and/or partnerships (within the last five years):
N/A Arkle Resources PLC Arkle Resources Ltd Oldcastle Zinc Limited
There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies.
Mr. Cullen’s appointment is for an initial 12 months’ term with a view to the appointment being renewed on an open-ended basis thereafter. Mr. Cullen does not hold any shares in the Company.
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
Caroline Rowe
Peterhouse Capital Limited
Joint Broker
Lucy Williams + 44 (0) 207 469 0930
Duncan Vasey
Market Abuse Regulation (MAR) Disclosure
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 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”). Upon the publication of this announcement via Regulatory Information Service (“RIS”), this inside information is now considered to be in the public domain.
Tertiary Minerals #TYM – Exploration Update – Brunton Pass Copper Project, Nevada, USA
Tertiary Minerals plc is pleased to provide the following exploration update on its 100% owned Brunton Pass Copper Project in Nevada, USA:
Highlights:
- Rock samples from northern half of claim block contain up to 6.84% copper and 1.75 grammes/tonne (g/t) gold in separate samples.
- Project wide soil sampling, drone magnetic and photogrammetric surveys completed:
- Multiple copper soil anomalies defined associated with extensive skarn and hornfels alteration.
- Mercury soil anomalies and rock samples suggest additional potential for epithermal gold and silver.
- Interpretation of drone aeromagnetic data provides structural framework for mineralisation.
- Follow-up trenching programme planned.
Commenting today, Executive Chairman Patrick Cheetham said:
“Our systematic exploration at Brunton Pass has highlighted multiple zones of copper-skarn mineralisation with a possible overprint of mercury mineralisation which may represent the high levels of an epithermal system prospective for gold and silver. This is shaping up as a priority target and we look forward to reporting further exploration results from this exciting prospect alongside the follow up trenching underway at our Pyramid Gold-Silver Project in Nevada and the recently optioned copper projects in Zambia.”
Thematic Plan
A thematic plan illustrating the information contained in this news release will be available on the Brunton Pass Project page of the Company’s website www.tertiaryminerals.com
See below for detailed project summary.
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 | |
| Caroline Rowe | ||
| Peterhouse Capital Limited
Joint Broker |
||
| Lucy Williams | + 44 (0) 207 469 0930 | |
| Duncan Vasey | ||
Market Abuse Regulation (MAR) Disclosure
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 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
Brunton Pass Copper Project
The Company’s acquisition of the Brunton Pass Project was announced earlier this year, on 18 January 2021, after sampling of prospector small-scale surface workings, possibly originally dug for turquoise, revealed high copper values in the southern half of the claim block.
Since then, rock sampling and reconnaissance mapping has been extended into the northern part of the claim block where there are similar workings with shows of copper oxide minerals and where a small of amount of mercury was historically produced at the Antelope Mine.
A high-resolution drone-based aeromagnetic-photogrammetric survey and soil sampling have also been carried out across the whole project area.
Nine rock chip samples were taken as grab samples from different small prospecting pits and submitted for gold fire assay and multi-element analysis. Highlights include grab samples BR-014 which returned 6.84% copper and BR-016, which contained 1.75 g/t gold and 2.37% copper. Anomalous silver was also detected with an average of 14.65 g/t silver across all samples collected.
The drone and photogrammetric surveys were flown using 50 metre line spacing and 61 line-kilometres of data was collected. The photogrammetric survey provides aerial imagery to assist geological interpretation as well as an environmental baseline for future surface disturbance.
The magnetic data was processed by Magnetic Vector Inversion Modelling to produce a 3D magnetic model of the survey area. A structural and geological interpretation of the magnetic data was also conducted to define structures that could be potential pathways for mineralisation and a framework for further exploration.
Copper and mercury mineralisation at Brunton Pass is closely associated with hornfels and skarn alteration of limestone and associated sediments that form a northwest-southeast oriented, 1km x 0.75km, “window” within younger Tertiary-age volcanic rocks. The magnetic inversion model suggests that the sediments may be underlain at shallow depth by a large intrusive body that could be the source of the alteration and mineralisation. Evidence for this underlying body is found in surface outcrops of quartz monzonite and diorite dykes. The limestone window forms a magnetic low within Tertiary volcanics and appears to be in fault contact with the volcanics.
A total of 485 soil samples were collected at 50m spacing on lines 100m apart over the main sedimentary window and on a 100m by 100m offset grid over the remainder of the project area. The samples were submitted to Paragon Geochemical Laboratories, Reno for multi-element analysis. Several copper-in-soil anomalies2 with individual grades of up to 953ppm copper are present within the project area. The largest of these anomalies has dimensions of 340m x 310m and they are mainly coincident with areas of rock samples containing percent-level copper values.
Two large mercury-in-soil anomalies2 were also defined with values up to 52 ppm mercury with the largest of these extending over an area approximately 500m x 500m. This anomaly encircles the copper soil anomalies in the northern part of the project area and at its western part it is coincident with a deep magnetic low, possibly reflecting magnetite destructive mineral alteration.
The Company considers that an episode of intrusion related skarn copper mineralisation at Brunton Pass has been overprinted by a later episode of mercury mineralisation which may represent the high levels of an epithermal system prospective for gold and silver.
The Company now intends to conduct a preliminary trenching programme across the main copper anomaly and carry out further investigation of the potential for gold and silver mineralisation.
Notes:
- Soil samples were submitted to Paragon Geochemical Laboratories, Reno. Samples were screened to -80 mesh and analysed by method FSAU-25, a 51-element aqua regia digest with ICP-MS finish. Rock chip samples were analysed by ALS, Reno and analysed by method ME-MS61, a 48-element 4-acid digest with ICP-MS finish. Over-range analysis was via Cu-OG62, a 4-acid digest with ICP-AES finish, and Au-ICP21, a 30g fire assay with ICP-AES finish. Internal QA/QC samples were inserted by the analytical laboratories and reviewed by the Company prior to release.
- Anomalous soil samples are defined in this case by the 90th percentile values of the soil value population, being 55 parts per million copper and 740 parts per billion mercury.
- 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.
- 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.
Note to Editors:
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.
Tertiary Minerals #TYM – Option Agreement – Zambian Copper Prospects
Following the incorporation of Luangwa Minerals Limited (“Luangwa”) as a 96% owned Zambian subsidiary, announced on 18 May 2021, the Company is pleased to advise that Luangwa has entered into an Option Agreement with Mwashia Resources Ltd (“Mwashia”) to acquire up to a 90% joint venture interest in five Large Exploration Licences in Zambia considered prospective for copper.
Highlights
- The agreement covers Exploration licence 27069-HQ-LEL (“Jack’s Licence”) and rights to option four additional and separate licences on the same terms.
- Jack’s Licence is underlain by Lower Roan Group rocks which are known to host the major copper mines (>2 Mt contained copper) in the Central African Copperbelt.
- Copper mineralisation reported from historical drill testing of an 18km long open-ended soil geochemical anomaly on Jack’s Licence. Drill intersections included:
-
- 0m at 1.04% copper from 113m depth in RC drill hole KJ14
- 8m at 0.96% copper from 112m depth in diamond drillhole KJD1
- 0m grading 1.56% copper from 322m depth in diamond drill hole KJD7
Commenting today, Executive Chairman Patrick Cheetham said:
“We are delighted to have secured this option agreement with Mwashia over five large exploration licences covering over 1,500 sq.km. This agreement is primarily aimed at the Jack’s Licence but gives us an exclusive six-month investigation period and the right to enter into option agreements on the same fixed terms over a further four licences that were selected by Mwashia on the basis of their prospective geology and historical exploration results”.
“The results of historic exploration and drilling on the Jack’s Licence Copper Prospect suggest a multi-kilometre copper mineralised trend that warrants further exploration”.
“As a director of African Mining Consultants, Mwashia’s principal is well connected in the Zambian mining industry and has enjoyed recent success as consultant to Ivanhoe Mines during their discovery of the giant Kamoa-Kakula copper deposit in the Democratic Republic of Congo. We are very much looking forward to working with Mwashia on these copper projects.”
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 | |
| Caroline Rowe | ||
| Peterhouse Capital Limited – Joint Broker | ||
| Lucy Williams | + 44 (0) 207 469 0930 | |
| Duncan Vasey | ||
Market Abuse Regulation (MAR) Disclosure
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 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
Detailed Information
Option Agreement
The Company’s 96% owned subsidiary, Luangwa Minerals Limited, has entered into an option agreement (“the Agreement”) with Mwashia Resources Limited, a privately held Zambian registered company controlled by Mr. Geoffrey Siame, a director of Zambian exploration, mining & environmental engineering consultancy firm, African Mining Consultants Limited (AMC).
The principal terms of the agreement relate to the Jack’s Exploration Licence number 27069-HQ-LEL and are as follows:
- Mwashia will prepare an Environmental Project Brief (“EPB”) for 27069-HQ-LEL (an approved EPB is a pre-requisite for conducting exploration) and submit the EPB to Zambian Environmental Management Agency (“ZEMA”) for approval.
- Luangwa will pay US$1,500 towards the costs of preparing the EPB and US$10,000 to Mwashia on approval of the EPB by ZEMA.
- Luangwa may earn, and has the right to take up, an initial 51% joint venture interest in 27069-HQ-LEL by spending US$50,000 on exploration in the 12-month period following approval of the EPB by ZEMA.
- On taking up a 51% interest in 27069-HQ-LEL, Luangwa and Mwashia will enter into a Joint Venture Agreement (“JVA”) and on signing the JVA Luangwa will pay US$30,000 to Mwashia.
- Luangwa may earn a further 39% interest (total 90% interest) in the licence by spending a further US$100,000 over 18 months from the date of signing the JVA.
The agreement provides an exclusive option to Luangwa to enter into option agreements on the same terms as set out above on four additional licences held by Mwashia, being licence numbers 27065-27068-HQ-LEL.
Preparation and approval of the EPB is expected to take up to 60 days.
A small area (0.13 sq. km.) is excised from 27069-HQ-LEL and is under application by an artisanal mining group.
The location of these licences can be seen on a map which will shortly be available on the Company’s websitewww.tertiaryminerals.com/jacks-project-zambia.
Exploration Licence 27069-HQ-LEL – Jack’s Hill Project
The Central African Copperbelt is the world’s largest sediment-hosted stratiform copper province. It includes at least 14 giant deposits (>2 Mt contained copper) within a 400-km arcuate trend of Neoproterozoic rocks that spans the border of Zambia and the Democratic Republic of Congo (DRC).
Exploration Licence 27069-HQ-LEL covers 141.4 sq. km. and is located 85km south of Luanshya in the Central African Copperbelt. The licence is underlain by rocks of the Lower Roan Group, the main copper mineralised rock sequence in the Copperbelt.
The Company cautions that the record of exploration available to the Company is incomplete but indicates that the licence area was first explored by Roan Selection Trust Ltd. (“RST”) in the 1960s after copper flower was observed in the vicinity of Jack’s Hill.
RST drilled a series of diamond drill holes in the area of the copper showings which coincides with the nose of a fold structure. Several zones of low-grade copper were reportedly intersected but the collar positions and drillhole logs for these holes have not yet been located.
The area was subject to further exploration in the 1990s by Caledonia Mining Corporation (“CMC”) which conducted aeromagnetic surveys and geochemical sampling (conventional and Mobile Metal Ion). The surveys reportedly highlighted an intermittent geochemical anomaly that extends for over 18 kilometres. After delineation of prospective areas, CMC entered into a joint venture earn-in agreement with Cyprus AMAX Minerals (“Cyprus”), a major US-based mineral exploration and mining company.
The 1997 exploration programme included infill geochemical sampling, ground based magnetics and a 19-hole reverse circulation (RC) percussion drill programme.
A further programme of six diamond drill holes totalling 1,378 metres was completed in 1998 to test along strike and down dip extensions to the previously intersected mineralisation as well as the most anomalous soil geochemistry on both limbs and within the closure of the fold structure.
Highlights are presented in the following table:
The drilling results suggest the presence of two separate zones of copper mineralisation with significant depth potential. Notably diamond hole KJD1 confirmed the upper zone mineralisation intersected in reverse circulation hole KJ14 intersecting partly leached copper oxide and chalcocite over a 13.8m drill interval from 112m depth whilst KJD7 collared “north” of KJD1 reportedly intersected the same mineralisation horizon at 322m depth within the chalcocite zone grading 1.56% copper over 7m. The lower zone mineralisation in each hole reportedly gave typical grades of around 0.5% to 0.7% copper.
Additional geochemical sampling and geophysical surveys were conducted in 1999 to further delineate the Jack’s Hill anomaly for further drill testing. However, shortly after, the joint-venture agreement was terminated following the acquisition of Cyprus by Phelps Dodge and the subsequent corporate restructure and the project area was subsequently relinquished by CMC.
Additional licences
The Additional Licences have all been selected by Mwashia based on geological prospectivity. No further information is currently available.
Notes:
- 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.
This 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.
UK Investor Magazine podcast – Barclays, US Tech Stocks and Junior Miners with Alan Green
Alan Green joins the UK Investor Magazine Podcast for our latest instalment of UK equities and global markets. We discuss Barclays (LON:BARC), Power Metal Resources (LON:POW) and Tertiary Minerals (LON:TYM)
We start with looking at US Tech stocks in Apple and Alphabet and go through the numbers from their bumper quarterly updates. Both produced revenue figures that surpassed analyst estimates in a strong quarter for two of the world’s largest technology companies.
Given the strong results from Apple and Alphabet, we explore whether we may be reaching the top of the earnings cycle as we come out of the pandemic and if a period of weaker growth could cause waves in equities.
Barclays (LON:BARC) also reported a huge jump in profits as they released half year profits that rose to £5bn helped by the reversal of COVID provisions and strong investment banking activity. Barclays also increased their dividend and we look forward to what investors could expect from Barclays and other UK banks in terms of payouts in the future.
We also explore Power Metal Resources (LON:POW) and Tertiary Minerals (LON:TYM).
Tertiary Minerals #TYM – Exploration Update – Pyramid Silver-Gold Project
Further to its announcement of 3 June 2021 Tertiary Minerals plc is pleased to provide the following update on its Pyramid Silver-Gold Project in Nevada, USA:
HIGHLIGHTS
- Phase 2 trench planning now complete.
- Three trenches to be excavated for a total of 300 m to better define North Ruth silver discovery (45m continuous thickness of mineralisation grading 61ppm silver (1.78 ounces/ton) and 0.09ppm gold in Trench 1).
- Infill soil sampling results received:
- Western Line Anomaly extended to 1,100m overall length.
- Western Line Splay Anomaly extended to 800m overall length.
- New soil results include samples containing up to 0.77g/t gold and 9.32 g/t silver
- Phase 2 trenching will include 4 trenches to test new soil anomaly extensions.
- Notice level permit being processed by US Bureau of Land Management for trenching on Public Lands. Approval expected within days.
- Drone-based magnetic survey conducted – Interpretation received.
- Drill testing to follow trenching programme.
Commenting today, Executive Chairman Patrick Cheetham said:
“We are keen to build on the exciting discovery last month of a wide zone of silver mineralisation in our Phase 1 trenching programme at the North Ruth anomaly. This mineralisation is open both along and across strike and we will now be undertaking further trenching to better define the scale and orientation of the mineralisation prior to drill testing. We are also announcing further encouraging soil sampling results from infill sampling in the southern half of the project area and the Phase 2 trenching programme will include a number of additional trenches to test newly defined soil anomalies. Permits are expected to be approved within the next week or so.”
ENQUIRIES
| Tertiary Minerals plc
Patrick Cheetham, Executive Chairman
|
Tel: +44 (0)1625 838 679 |
| S P Angel Corporate Finance LLP
Nominated Adviser & Joint Broker Richard Morrison/Caroline Rowe
|
Tel: +44 (0)203 470 0470 |
| Peterhouse Capital Limited
Joint Broker Lucy Williams/Duncan Vasey
|
Tel: +44 (0)207 469 0930 |
Market Abuse Regulation
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 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
DETAILED INFORMATION
Background
The Pyramid Gold-Silver Project is located in north-central Nevada, USA and is targeting epithermal gold-silver mineralisation in the prolific past producing Walker Lane Mineral Belt.
The project comprises a group of patented mining claims currently being leased by the Company and a group of surrounding unpatented mining claims held by the Company on Public Lands. (Patented claims have a legacy private land status no longer available to (unpatented) mining claims on Public Lands).
On 3 June 2021, the Company announced the discovery of a wide zone of silver mineralisation at surface during a (Phase 1) trenching programme carried out on the patented claims. Trenching was conducted to investigate the source of high-grade silver and gold rock samples (see announcement of 10 May 2020) found in following up mapping of soil gold and silver anomalies previously defined by the Company (see announcement dated 11 January). A number of these soil anomalies had not been closed off by the previous Phase 1 soil sampling.
Phase 1 trenching was restricted to the North Ruth and Western Line soil anomalies and Trench 1 in the North ruth Anomaly intersected a 45m continuous thickness of mineralisation grading 61ppm silver (1.78 ounces/ton) and 0.09ppm gold starting 42.67m from the east end of the trench continuing up to the western end of this trench where it ended still in mineralisation.
Phase 2 Soil Sampling
A further 162 soil samples were taken at 30m intervals on six, 120m spaced lines to infill a 0.56sq km area in the southern half of the project area, primarily to test for extension to the Western Line and Western Splay anomalies.
Analytical results have been received with individual soil results of up to 0.77 g/t gold and 9.32 g/t silver in separate samples.
Evaluation of these results indicate a small extension to the Western Line Anomaly to a total strike length of 1,100m and a 250m extension to the Western Splay Anomaly, with a possible fault offset, to a total length of 800m. Additional isolated gold-in-soil anomalies are present in the southeast of the project area.
Phase 2 Trenching
The Company has completed planning for a follow up trenching programme to further evaluate the North Ruth silver mineralisation and the extensions of the Western Line and Western Splay anomalies.
Three trenches will be excavated at North Ruth to widen and deepen Trench 1 and test along strike. A further 4 trenches will be excavated on the soil anomalies for a total of 628 m of trenching.
The Company has submitted a Surface Disturbance Notice level permit application to the Bureau of Land Management (“BLM”) to permit trenching on BLM public lands and this permit is expected within the next several days and trenching will follow shortly thereafter.
Drone Magnetic Survey
In June 2021 a drone based magnetic survey was conducted comprising 65 line‑kilometres in order to provide additional data for drill planning.
A plan showing the location of the features mentioned in this news release will be available shortly on the Company’s website at: https://www.tertiaryminerals.com/pyramid-silver-gold-project-nevada-usa
Notes:
- All soil samples were submitted to Paragon Geochemical, Reno for sample preparation and analysis. Analysis was performed using method FSAU-25, a 51-element aqua regia ICP/MS package. Quality control samples were inserted into the sample run by the analytical laboratory for internal QA/QC purposes
- 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.
- This 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.
Note to Editors:
Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.
Tertiary Minerals #TYM – Kalkkinen Project
Further to the Company’s announcement on 21January 2021 (the “Prior Announcement”), Tertiary Minerals plc announces that it has today been advised by Element-46 Ltd (“E46”) that its Reservation Notice for an exploration permit (the “Licence Reservation”) over the Kalkkinen Prospect in Finland has been cancelled on environmental grounds.
On the basis that the issue of E46 shares to the Company referred to in the Prior Announcement was contingent on the grant of the Licence Reservation, and the Company has been advised by E46 that the Licence Reservation was not granted, the Company will not be entitled to receive the E46 shares, and the future royalty interest referred to in the Prior Announcement will fall away.
ENQUIRIES
|
Tertiary Minerals plc Patrick Cheetham, Executive Chairman
|
Tel: +44 (0)1625 838 679 |
|
S P Angel Corporate Finance LLP Nominated Adviser & Joint Broker Richard Morrison/Caroline Rowe
|
Tel: +44 (0)203 470 0470 |
|
Peterhouse Capital Limited Joint Broker Lucy Williams/Duncan Vasey
|
Tel: +44 (0)207 469 0930 |
Market Abuse Regulation
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 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
Tertiary Minerals #TYM – Grant of Warrants
Tertiary Minerals plc, the AIM traded company building a multi-commodity project portfolio, announces that as part of the remuneration of employees and directors on 28 June 2021 the Board of the Company granted a total of 12,100,000 five-year warrants to subscribe for new Ordinary Shares of 0.1 pence each (“New Warrants”).
3,100,000 New Warrants were issued to employees of the Company and one non-executive director of the Company (“Employee Warrants”). The Employee Warrants are exercisable at 0.34 pence per share being the closing mid-market price on 25 June 2021, have a five-year term and do not become exercisable (vested) until 12 months from the date of issue.
| Grantee | No. of Warrants | Warrant exercise price | Vesting Period |
| Employees (4)
|
(Total of) 1,600,000 | 0.34 pence per share | 12 months |
| Non-Executive Director
Mr Donald McAlister |
1,500,000 | 0.34 pence per share | 12 months |
In addition, 9,000,000 New Warrants were issued to the Executive Chairman, Mr. Patrick Cheetham, as part of his remuneration and incentive package (“Chairman Warrants”). The Chairman Warrants have escalating exercise prices and vesting periods, as set out below, designed to align the potential rewards with a sustainable medium-term growth in the Company’s share price.
| Grantee | No. of Warrants | Exercise Price | Vesting Period |
| Mr. Patrick Cheetham | 3,000,000 | 0.5 pence | 12 months |
| 3,000,000 | 1.0 pence | 24 months | |
| 3,000,000 | 1.5 pence | 36 months |
ENQUIRIES
| Tertiary Minerals plc
Patrick Cheetham, Executive Chairman
|
Tel: +44 (0)1625 838 679 |
| S P Angel Corporate Finance LLP
Nominated Adviser & Joint Broker Richard Morrison/Caroline Rowe
|
Tel: +44 (0)203 470 0470 |
| Peterhouse Capital Limited
Joint Broker Lucy Williams/Duncan Vasey
|
Tel: +44 (0)207 469 0930 |
Market Abuse Regulation
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 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (‘MAR’). Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside information is now considered to be in the public domain.
The notifications below, made in accordance with the requirements of the Market Abuse Regulations (EU) No. 596/2014, provides further detail on the issue of warrants to employees and directors.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.
Link here to view full warrant grant information by person
Alan Green talks Coinsilium #COIN, Tertiary Minerals #TYM & MetalNRG #MNRG on Vox Markets podcast
Alan Green discusses Coinsilium #COIN, Tertiary Minerals #TYM & MetalNRG #MNRG with Justin Waite on the Vox Markets podcast. Interview is 23 minutes 39 seconds in.
