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#BRES Blencowe Resources PLC – Subscription & Conditional Subscription – Replace

New Investor

The Company is pleased to report it has raised US$500,000 (£392,350) at 5 pence per share with a specialist African-based investor (“African Investor”) through the issue of 7,847,000 new ordinary shares. The investor has undertaken extensive due diligence over the last four months and the current investment is viewed as an initial entry into the project ahead of anticipated further investment as required. The shares have been issued to the African Investor under the Company’s existing headroom.

 

Additional Investor and the Issue of a Prospectus

In addition, the Company has conditionally raised a further £2,500,000 at 5 pence resulting in the issue of 50,000,000 new ordinary shares to an additional strategic investor (“Strategic Investor”). The Company is required to publish a prospectus on the basis that it will be issuing more than 20% of its issued share capital in a 12-month period. The Company and its advisers are in advanced stages of finalising the prospectus. The Company anticipates publishing the prospectus this month and will update shareholders prior to its publication.

 

Conditional Subscription

The Strategic Investor has received investment committee approval and made a firm commitment to subscribe. The subscription by the Strategic Investor is subject to the Company issuing the prospectus, a general meeting by the Company to approve certain resolutions relating to the issue of new ordinary shares, settlement of the investment and the issue and allotment of the new ordinary shares.

 

For the avoidance of doubt, the subscription by the African Investor is firm and not contingent on any investment by the Strategic Investor. The subscription funds have been received from the African Investor and the Company shall apply for the new ordinary shares to commence trading.

 

Admission

An application has been made for 7,847,000 new ordinary shares to be admitted to trading on the official list and the London Stock Exchange from 8.00 a.m. on Monday 12 February 2024 (“Admission”). 

In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 217,226,950 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA’s Disclosure Guidance and Transparency Rules.

Mike Ralston, CEO of Blencowe Resources, commented:

I am pleased to provide this positive update with respect to our fundraising initiatives. As previously reported, we have already received US$2,000,000 in grant funding from the US International Development Finance Corporation (“DFC”) out of their approved US$5,000,000 grant. A further US$1,000,000 is expected from the DFC in the near term as the next milestones have been met.

We now welcome a new specialist African investor to the register following the fundraise of  US$500,000 at 5 pence, which represents a healthy premium to the current market price and underlines their decision to invest for the long term after an extensive due diligence exercise. We reasonably believe that they will look to invest further as our relationship is built.

Moreover, we are now in the closing stages of a further subscription of £2.5m at 5 pence from another Strategic Investor and we are busily working with our advisers to finalise and issue the prospectus.

Both these investments at 5p underline the value proposition offered by Blencowe and will provide us with a good runway to complete the DFS this year. We are making rapid progress in de-risking the Orom-Cross project, especially following the recent letter of interest received from the DFC to provide a funding solution for the build and development of Orom-Cross. We will continue to work closely with the DFC as we complete the DFS to ensure construction can commence at Orom-Cross in a timely fashion.

I believe it is testament of the quality of the Orom-Cross project that we have been able secure funding partners like this at a time when the junior mining sector continues to face significant difficulties with respect to sourcing capital. We are hoping to deliver an NPV in the DFS significantly higher than the post-tax NPV of US$482M achieved in the Pre-Feasibility Study and will keep shareholders updated on our progress.’

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

 

 

First Equity Limited

Jason Robertson

Tel: +44(0)20 7330 1833

jasonrobertson@firstequitylimited.com

 

Twitter https://twitter.com/BlencoweRes

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

 

Background

Orom-Cross Graphite Project

Orom-Cross is a potential world class graphite project both by size and end-product quality, with a high component of more valuable larger coarse flakes within the deposit.

A 21-year Mining Licence for the project was issued by the Ugandan Government in 2019 following extensive historical work on the deposit.  Blencowe completed a successful Pre-Feasibility Study on the Project in July 2022 and is now within the Definitive Feasibility Study phase as it drives towards first production.

Orom-Cross presents as a large, shallow open-pitable deposit, with an initial JORC Indicated & Inferred Mineral Resource of 24.5Mt @ 6.0% TGC (Total Graphite Content). This Resource has been defined from only ~2% of the total tenement area which presents considerable upside potential ahead.  Development of the resource is expected to benefit from a low strip ratio and free dig operations together with abundant inexpensive hydro-electric power off the national grid, thereby ensuring low operating costs.  With all major infrastructure available at or near to site the capital costs will also be relatively low in comparison to most graphite peers.

Blencowe Resources #BRES – Subscription & Conditional Subscription

New Investor

The Company is pleased to report it has raised US$500,000 (£392,350) at 5 pence per share with a specialist African-based investor (“African Investor”) through the issue of 7,847,000 new ordinary shares. The investor has undertaken extensive due diligence over the last four months and the current investment is viewed as an initial entry into the project ahead of anticipated further investment as required. The shares have been issued to the African Investor under the Company’s existing headroom.

Additional Investor and the Issue of a Prospectus

In addition, the Company has conditionally raised a further £2,500,000 at 5 pence resulting in the issue of 50,000,000 new ordinary shares to an additional strategic investor (“Strategic Investor”). The Company is required to publish a prospectus on the basis that it will be issuing more than 20% of its issued share capital in a 12-month period. The Company and its advisers are in advanced stages of finalising the prospectus. The Company anticipates publishing the prospectus this month and will update shareholders prior to its publication.

Conditional Subscription

The Strategic Investor has received investment committee approval and made a firm commitment to subscribe. The subscription by the Strategic Investor is subject to the Company issuing the prospectus, a general meeting by the Company to approve certain resolutions relating to the issue of new ordinary shares, settlement of the investment and the issue and allotment of the new ordinary shares.

For the avoidance of doubt, the subscription by the African Investor is firm and not contingent on any investment by the Strategic Investor. The subscription funds have been received from the African Investor and the Company shall apply for the new ordinary shares to commence trading.

Admission

An application has been made for 7,487,000 new ordinary shares to be admitted to trading on the official list and the London Stock Exchange from 8.00 a.m. on Friday 9 February 2024 (“Admission”).

In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 217,226,950 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA’s Disclosure Guidance and Transparency Rules.

Mike Ralston, CEO of Blencowe Resources, commented:  ‘I am pleased to provide this positive update with respect to our fundraising initiatives. As previously reported, we have already received US$2,000,000 in grant funding from the US International Development Finance Corporation (“DFC”) out of their approved US$5,000,000 grant. A further US$1,000,000 is expected from the DFC in the near term as the next milestones have been met.

We now welcome a new specialist African investor to the register following the fundraise of  US$500,000 at 5 pence, which represents a healthy premium to the current market price and underlines their decision to invest for the long term after an extensive due diligence exercise. We reasonably believe that they will look to invest further as our relationship is built.

Moreover, we are now in the closing stages of a further subscription of £2.5m at 5 pence from another Strategic Investor and we are busily working with our advisers to finalise and issue the prospectus.

Both these investments at 5p underline the value proposition offered by Blencowe and will provide us with a good runway to complete the DFS this year. We are making rapid progress in de-risking the Orom-Cross project, especially following the recent letter of interest received from the DFC to provide a funding solution for the build and development of Orom-Cross. We will continue to work closely with the DFC as we complete the DFS to ensure construction can commence at Orom-Cross in a timely fashion.

I believe it is testament of the quality of the Orom-Cross project that we have been able secure funding partners like this at a time when the junior mining sector continues to face significant difficulties with respect to sourcing capital. We are hoping to deliver an NPV in the DFS significantly higher than the post-tax NPV of US$482M achieved in the Pre-Feasibility Study and will keep shareholders updated on our progress.’

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

 

 

First Equity Limited

Jason Robertson

Tel: +44(0)20 7330 1833

jasonrobertson@firstequitylimited.com

 

Twitter https://twitter.com/BlencoweRes

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

#SVML Sovereign Metals LTD – Result of AGM

The Annual General Meeting (AGM) of Sovereign Metals Limited (Company) (ASX:SVM, AIM:SVML) was held today, 24 November 2023, at 10.00am (AWST).

The resolutions voted on were in accordance with the Notice of AGM previously advised to shareholders. All resolutions were decided on and carried by way of poll.

In accordance with Section 251AA of the Corporations Act 2001 and ASX Listing Rule 3.13.2, the details of the poll and proxies received in respect of each resolution are set out in the below summary.

ENQUIRIES

Dylan Browne

Company Secretary
+61(8) 9322 6322

info@sovereignmetals.com

 

Nominated Adviser on AIM and Joint Broker

 

SP Angel Corporate Finance LLP

+44 20 3470 0470

Ewan Leggat

Charlie Bouverat

Harry Davies-Ball

 

 

Joint Brokers

 

Berenberg

+44 20 3207 7800

Matthew Armitt

 

Jennifer Lee

 

 

 

Tavistock PR

+44 20 7920 3150

 

Resolution

Number of Proxy Votes

Number and Percentage of Votes cast on the Poll

Voting Method and Result

For

Against

Abstain

Proxy’s Discretion

For

Against

Abstain

1.    Remuneration Report

5,664,686

22,000

19,101,151

2,471,598

9,795,986
(99.8%)

22,000
(0.2%)

19,101,151

Carried on vote by poll

2.    Re-election of Director – Mr Ian Middlemas

23,241,037

1,546,800

2,471,598

27,372,337
(95%)

1,546,800
(5%)

Carried on vote by poll

3.    Re-election of Director – Dr Julian Stephens

23,241,037

1,546,800

2,471,598

27,372,337
(95%)

1,546,800
(5%)

Carried on vote by poll

4.    Renewal of Employee Incentive Equity Plan

19,359,686

10,000

5,418,151

2,471,598

23,490,986
(99.9%)

10,000
(0.1%)

5,418,151

Carried on vote by poll

5.    Issue of Performance Rights to a Director – Mr Benjamin Stoikovich

4,116,886

1,569,800

19,101,151

2,471,598

8,248,186
(84%)

1,569,800
(16%)

19,101,151

Carried on vote by poll

6.    Issue of Performance Rights to a Director – Mr Mark Pearce

4,116,886

1,569,800

19,101,151

2,471,598

8,248,186
(84%)

1,569,800
(16%)

19,101,151

Carried on vote by poll

7.    Issue of Performance Rights to a Director – Mr Nigel Jones

4,116,886

1,569,800

19,101,151

2,471,598

8,248,186
(84%)

1,569,800
(16%)

19,101,151

Carried on vote by poll

8.    Approval of Additional 10% Placement Capacity

24,715,837

72,000

2,471,598

28,847,137
(99.8%)

72,000
(0.2%)

Carried on vote by poll

 

Issue of Performance Rights

Following the shareholder approval of resolutions 5 to 7 today, the Company has issued 1,750,000 unlisted performance rights to Directors as disclosed in the Notice of AGM as follows:

·      700,000 performance rights subject to the “Grant of Mining Licence Milestone” that have no exercise price and expire 31 March 2026; and

·      1,050,000 performance rights subject to the “Final Investment Decision Milestone” that have no exercise price and expire 30 June 2026.

Following the issue of these performance rights, the Company has the following securities on issue:

·      563,003,401 fully paid ordinary shares;

·      34,549,598 unlisted options exercisable at A$0.535 each on or before 21 July 2024;

·      9,110,000 unlisted performance rights subject to the “Definitive Feasibility Study Milestone” expiring on or before 31 October 2025;

·      3,150,000 unlisted performance rights subject to the “Grant of Mining Licence Milestone” that have no exercise price and expire 31 March 2026; and

·      4,150,000 unlisted performance rights subject to the “Final Investment Decision Milestone” that have no exercise price and expire 30 June 2026.

Change of Directors’ Interest Notices are provided below.

Appendix 3Y

 

Change of Director’s Interest Notice

 

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01  Amended 01/01/11

 

Name of entity                  SOVEREIGN METALS LIMITED

ABN                                    71 120 833 427

A)              

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act. 

 

Name of Director

Benjamin Stoikovich

Date of last notice

29 September 2023

 

Part 1 – Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

 

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

 

Direct or indirect interest

Direct and Indirect

 

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

 

Selwyn Capital Limited (beneficial interest)

 

Date of change

24 November 2023

No. of securities held prior to change

(a)   4,190,000

(b)   600,000

(c)   –

(d)   –

Class

(a)   Ordinary Fully Paid Shares

(b)   Unlisted Performance Rights subject to the “Definitive Feasibility Study Milestone” expiring 31 October 2025

(c)   Unlisted Performance Rights subject to the Grant of Mining Licence Milestone” expiring 31 March 2026

(d)   Unlisted Performance Rights subject to the “Final Investment Decision Milestone” expiring 30 June 2026

Number acquired

(c)   350,000

(d)   500,000

Number disposed

Not applicable

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

 

Not applicable – see nature of change below

No. of securities held after change

(a)   4,190,000

(b)   600,000

(c)   350,000

(d)   500,000

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Issue of Performance Rights following shareholder approval

 

Part 2 – Change of director’s interests in contracts

 

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

 

Detail of contract

Not applicable

Nature of interest

 

Not applicable

Name of registered holder

(if issued securities)

 

Not applicable

Date of change

Not applicable

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

 

Not applicable

Interest acquired

Not applicable

Interest disposed

Not applicable

Value/Consideration

Note: If consideration is non-cash, provide details and an estimated valuation

 

Not applicable

Interest after change

Not applicable

 

Part 3 – +Closed period

 

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?

No

If so, was prior written clearance provided to allow the trade to proceed during this period?

Not applicable

If prior written clearance was provided, on what date was this provided?

Not applicable

 

Initial notification/Amendment

Initial

LEI

213800NSPXSASTENFQ34

Place of transaction

Australian Securities Exchange (ASX)

 

Appendix 3Y

 

Change of Director’s Interest Notice

 

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01  Amended 01/01/11

 

Name of entity                  SOVEREIGN METALS LIMITED

ABN                                    71 120 833 427

B)              

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act. 

 

Name of Director

Mark Pearce

Date of last notice

29 September 2023

 

Part 1 – Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

 

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

 

Direct or indirect interest

Direct and Indirect

 

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

 

·  Mr Mark Pearce and Mrs Natasha Pearce <NMLP Family A/C> (trustee and beneficial interest)

·  Apollo Group Pty Ltd (director and indirect shareholder)

·  Crystal Brook Investments Pty Ltd (director and beneficial interest)

 

Date of change

24 November 2023

No. of securities held prior to change

(a)     4,520,842

(b)     300,000

(c)     –

(d)     –

Class

(a)     Ordinary Fully Paid Shares

(b)     Unlisted Performance Rights subject to the “Definitive Feasibility Study Milestone” expiring 31 October 2025         

(c)     Unlisted Performance Rights subject to the Grant of Mining Licence Milestone” expiring 31 March 2026

(d)    Unlisted Performance Rights subject to the “Final Investment Decision Milestone” expiring 30 June 2026            

Number acquired

(c)     250,000

(d)     400,000

 

Number disposed

Not applicable

 

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

 

Not applicable – see nature of change below

 

No. of securities held after change

(a)     4,520,842

(b)     300,000

(c)     250,000

(d)     400,000

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Issue of Performance Rights following shareholder approval

 

Part 2 – Change of director’s interests in contracts

 

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

 

Detail of contract

Not applicable

Nature of interest

Not applicable

Name of registered holder

(if issued securities)

Not applicable

Date of change

Not applicable

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

 

Not applicable

Interest acquired

Not applicable

Interest disposed

Not applicable

Value/Consideration

Note: If consideration is non-cash, provide details and an estimated valuation

 

Not applicable

Interest after change

Not applicable

 

Part 3 – +Closed period

 

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?

No

If so, was prior written clearance provided to allow the trade to proceed during this period?

Not applicable

If prior written clearance was provided, on what date was this provided?

Not applicable

 

Initial notification/Amendment

Initial

LEI

213800NSPXSASTENFQ34

Place of transaction

Australian Securities Exchange (ASX)

 

Appendix 3Y

 

Change of Director’s Interest Notice

 

Information or documents not available now must be given to ASX as soon as available.  Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01  Amended 01/01/11

 

Name of entity                  SOVEREIGN METALS LIMITED

ABN                                    71 120 833 427

C)              

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act. 

 

Name of Director

Nigel Jones

Date of last notice

29 September 2023

 

Part 1 – Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

 

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

 

Direct or indirect interest

Indirect

 

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant interest.

 

Redbeck Partners Ltd (beneficial interest)

Date of change

24 November 2023

No. of securities held prior to change

(e)   225,000

(f)    300,000

(g)   –

(h)   –

 

Class

(e)   Ordinary Fully Paid Shares

(f)    Unlisted Performance Rights subject to the “Definitive Feasibility Study Milestone” expiring 31 October 2025

(g)   Unlisted Performance Rights subject to the Grant of Mining Licence Milestone” expiring 31 March 2026

(h)   Unlisted Performance Rights subject to the “Final Investment Decision Milestone” expiring 30 June 2026

Number acquired

(c)   100,000

(d)   150,000

Number disposed

Not applicable

Value/Consideration

Note: If consideration is non-cash, provide details and estimated valuation

 

Not applicable – see nature of change below

No. of securities held after change

(a)  225,000

(b)  300,000

(c)  100,000

(d)  150,000

 

Nature of change

Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Issue of Performance Rights following shareholder approval

 

Part 2 – Change of director’s interests in contracts

 

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

 

Detail of contract

Not applicable

Nature of interest

 

Not applicable

Name of registered holder

(if issued securities)

 

Not applicable

Date of change

Not applicable

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

 

Not applicable

Interest acquired

Not applicable

Interest disposed

Not applicable

Value/Consideration

Note: If consideration is non-cash, provide details and an estimated valuation

 

Not applicable

Interest after change

Not applicable

 

Part 3 – +Closed period

 

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?

No

If so, was prior written clearance provided to allow the trade to proceed during this period?

Not applicable

If prior written clearance was provided, on what date was this provided?

Not applicable

 

Initial notification/Amendment

Initial

LEI

213800NSPXSASTENFQ34

Place of transaction

Australian Securities Exchange (ASX)

 

 

#GRX Green X Metals LTD – Result of AGM

Results of Annual General Meeting  

GreenX Metals Limited (GreenX or the Company) advises, that the 2023 Annual General Meeting (AGM) of the Company was held today, 22 November 2023, at 10.00am (AWST).

The resolutions voted on were in accordance with the Notice of AGM previously advised to shareholders.

All resolutions were decided on and carried by way of a poll.

In accordance with Section 251AA of the Corporations Act 2001 and ASX Listing Rule 3.13.2, the details of the poll and the proxies received in respect of each resolution are set out over page.

 

For further information please contact:

Dylan Browne                                                                                             

Company Secretary

+61 8 9322 6322                                                                                                                                

info@greenxmetals.com

 

Resolution

Number of Proxy Votes

Number of Votes cast on the Poll

Result

For

Against

Abstain

Proxy’s Discretion

For

Against

Abstain

1.    Remuneration Report

2,337,137

14,575,000

3,557

2,990,694
(100%)


(-%)

14,575,000

Carried on vote by poll

2.    Re-election of Director – Mr Benjamin Stoikovich

16,912,137

3,557

17,565,694
(100%)


(-%)

Carried on vote by poll

3.    Approval of Additional 10% Placement Capacity

15,575,078

1,337,059

3,557

16,228,635
(92%)

1,337,059
(8%)

Carried on vote by poll

4.    Appointment of Auditor

16,912,137

3,557

17,565,694
(100%)


(-%)

Carried on vote by poll

5.    Appointment of Polish Auditor

16,912,137

3,557

17,565,694
(100%)


(-%)

Carried on vote by poll

 

#GRX GreenX Metals LTD – Issue of Shares

GreenX Metals Limited (GreenX or Company) advises that it has issued 310,288 ordinary fully paid shares (Shares) on the exercise of 600,000 unlisted options pursuant to a cashless exercise facility.

 

An application will be made for admission of the Shares to the standard listing segment of the Official List of the FCA (Official List) and to trading on the main market of the London Stock Exchange for listed securities (LSE Admission). LSE Admission is expected to take place on or before 10 November 2023.

 

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs), following LSE Admission, the Company’s issued ordinary share capital will be 273,189,227 ordinary shares. The above figure of 273,189,227 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company following LSE Admission.

 

Following the issue of Shares and options, GreenX has the following securities on issue:

·      273,189,227 ordinary fully paid shares;

·      4,775,000 unlisted options exercisable at A$0.45 each on or before 30 November 2025;

·      5,525,000 unlisted options exercisable at A$0.55 each on or before 30 November 2026;

·      11,000,000 performance rights that have an expiry date 8 October 2026;

·      A convertible loan note with a principal amount of A$2,627,430, convertible into 5,711,805 ordinary shares at a conversion price of A$0.46 per share with no expiry date.

Classification: 2.5 Total number of voting rights and capital

 

Enquiries:

 

GreenX Metals Limited

Tel: +61 8 9322 6322

Dylan Browne, Company Secretary

Email: info@greenxmetals.com

 

 

#SVML Sovereign Metals LTD – Notice of AGM

Notice of Annual General Meeting

Sovereign Metals Limited (ASX: SVM, AIM: SVML) (the Company) advises that the Annual General Meeting (Meeting) will be held on Friday, 24 November 2023 at 10:00am (AWST) at the Conference Room, Ground Floor, 28 The Esplanade, Perth, Western Australia 6000.

In accordance with 110D of the Corporations Act 2001 (Cth), the Company will not be dispatching physical copies of the Notice of Meeting (unless a shareholder has elected to receive documents in hard copy in accordance with the timeframe specified in section 110E(8) of the Corporations Act 2001 (Cth)).

A copy of the Notice of Meeting can be viewed and downloaded online as follows:

·      the Company’s ASX Market announcements page at www.asx.com.au under the Company’s ASX code “SVM”; or

·      if you have provided an email address and have elected to receive electronic communications from the Company, you will receive an email to your nominated email address with a link to an electronic copy of the Notice of Meeting.

The Company intends to hold a physical meeting. The Company will notify shareholders of any changes to this by way of an announcement on ASX and AIM and the details will also be made available on our website.

The Notice of Meeting is important and should be read in their entirety. If you are in doubt as to the course of action you should follow, you should consult your stock broker, investment advisor, accountant, solicitor or other professional adviser.

You may also, prior to the Meeting, obtain a paper copy of the Notice of Meeting (free of charge) by contacting the Company Secretary on +61 8 9322 6322 or by sending an email to info@sovereignmetals.com.au.

Holders of Depositary Interests should complete and sign a Form of Instruction, which will be sent separately to each Holder of Depositary Interests, and return it by the time and in accordance with the instructions set out in the Form of Instruction. Holders of Depositary Interests will not be eligible to vote in person at the Meeting.

#KAV Kavango Resources PLC – Notice of General Meeting

Kavango Resources plc (LSE:KAV), the Southern Africa-focused metals exploration company, is pleased to announce that it will today post a copy of a notice of general meeting (the “General Meeting Notice” or “Circular”) and form of proxy for the general meeting to shareholders. The general meeting is to be held at 11 a.m. on 25 October 2023 at the offices of the Company’s Solicitors, Druces LLP, Salisbury House, London Wall, London EC2M 5PS (the “General Meeting”). The Company will also make these documents available to download from the Company’s website (www.kavangoresources.com).

In accordance with Listing Rule 14.3.6 of the UK Financial Conduct Authority (“FCA”), a copy of the General Meeting Notice will be submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at:

https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

Background

The General Meeting Notice will be published and posted to shareholders today, together with a form of proxy, providing notification of the General Meeting to consider the resolutions set out below.

Resolutions have been tabled to (i) seek approval from independent shareholders of a waiver in accordance with Rule 9 of the Takeover Code (Whitewash) in relation to the Stage 2 Subscription (as announced on 09 May 2023), (ii) issue and allot, or grant rights to subscribe for or convert any securities into the Stage 2 Subscription Shares, and to (iii) allot equity securities (as defined in section 560(1) of the Companies Act 2006) for cash in respect of the Stage 2 Subscription Shares on a non-premptive basis.

Further information in respect of Kavango and its business interests is provided on the Company’s website at www.kavangoresources.com and on X (formerly known as Twitter) at #KAV.

For further information please contact:

Kavango Resources plc

Ben Turney

+46 7697 406 06

First Equity (Broker)

+44 207 374 2212

Jason Robertson

#FCM First Class Metals PLC – Canada Exploration Event in London

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK metals exploration company focused on the discovery of economic metal deposits across its extensive Canadian – northwest Ontario, land holding is pleased to announce that Marc J Sale, Chief Executive Officer, will be co-hosting an investor event in the City of London on Tuesday, 19 September 2023 from 6.00pm UK time in conjunction with Darren Hazelwood, CEO of Panther Metals PLC  (LSE: PALM) and Ryan Mee, CEO of Fulcrum Metals PLC (LSE: FMET).

At the event, which is free of charge and open to existing and potential investors of any of the three companies, the hosts will discuss:

·    The opportunity Canada provides for mineral resource exploration.

·    Each company’s strategy within this world class mining jurisdiction.

·    The outlook for the resources sector and opportunities for junior mining companies.

There will also be a Q&A session where the hosts will field questions from the attendees. No new material or trading information will be provided at the event.

Event details are as follows:

·    Date:  Tuesday, 19 September 2023

·    Time:  6.00pm for Drinks Reception, 6.30pm Event Commences

·    Venue:  Côte, 26 Ludgate Hill, London, EC4M 7DR

As places at this event are strictly limited, anyone wishing to attend must register in advance via the following link:

https://www.eventbrite.co.uk/e/investor-evening-with-three-london-listed-mining-exploration-companies-tickets-713768529887?aff=ebdssbdestsearch

For those unable to attend, the event will also be live streamed via

https://www.youtube.com/@StockBox

and an on-demand version will be made available on the Company’s website after the event:

https://www.firstclassmetalsplc.com

 

For Further Information:

James Knowles, Executive Chairman

JamesK@Firstclassmetalsplc.com

07488 362641

Marc J Sale, CEO

MarcS@Firstclassmetalsplc.com

07711 093532

Ayub Bodi, Executive Director

AyubB@Firstclassmetalsplc.com

07860 598086

 

First Equity Limited

(Financial Adviser & Broker)

 

Jonathan Brown

0207 3742212

Jason Robertson

0207 3742212

 

Sovereign Metals #SVML – Rio to Invest $40.4m to Become Strategic Investor

 

RIO TINTO TO INVEST $40.4 MILLION AND BECOME A 15% STRATEGIC INVESTOR IN SOVEREIGN

·    

Rio Tinto to make an investment of A$40.4 million in Sovereign resulting in an initial 15% shareholding

·    

Investment proceeds will be used to advance the Kasiya Rutile-Graphite Project in Malawi

·    

Rio Tinto’s investment represents a significant step towards unlocking a major new supply of low-CO2-footprint natural rutile and flake graphite

·    

Under the Investment Agreement, Rio Tinto will provide assistance and advice on technical and marketing aspects of Kasiya including with respect to Sovereign’s graphite co-product, with a primary focus on spherical purified graphite for the lithium-ion battery anode market 

·    

Issue of 83,095,592 new Shares of Sovereign to Rio Tinto at a price of A$0.486 per share represents a 10% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023

·    

Rio Tinto also issued with 34,549,598 options to increase its shareholding by an additional 4.99% to potentially 19.99% of Sovereign within 12 months

·    

Rio Tinto’s 34.5 million options have an exercise price of A$0.535 per Share, representing a 21% premium to the 45-day volume weighted average price on the ASX as at close 14th July 2023, for additional proceeds of up to $18.5 million (if all options are exercised)

 

Sovereign’s Chairman Ben Stoikovich commented: “This landmark agreement with Rio Tinto, one of the world’s largest and most accomplished global mining companies, is confirmation of Kasiya’s place as one of the most significant critical mineral discoveries in recent times. The experience and expertise that Rio Tinto brings will truly set Kasiya apart as a potentially globally significant supply of two critical minerals and take us all a step closer to supply chain decarbonisation and achieving net-zero. Furthermore, this is yet another step towards unlocking significant benefits from development of the Kasiya project for Malawi. We welcome Rio Tinto as a major shareholder of Sovereign and look forward to working with Rio Tinto as our strategic partner in the development of Kasiya.”

 

ENQUIRIES

Dr Julian Stephens (Perth)
Managing Director

+61(8) 9322 6322

Sam Cordin (Perth)
+61(8) 9322 6322

Sapan Ghai (London)
+44 207 478 3900

 

 

Nominated Adviser on AIM

 

SP Angel Corporate Finance LLP

+44 20 3470 0470

Ewan Leggat

Charlie Bouverat

Harry Davies-Ball

 

 

Joint Brokers

 

Berenberg

+44 20 3207 7800

Matthew Armitt

 

Jennifer Lee

 

 

 

Optiva Securities

+44 20 3137 1902

Daniel Ingram

 

Mariela Jaho

 

Christian Dennis

 

 

 

Tavistock PR

+44 20 7920 3150

#KAV Kavango Resources PLC – Conditional £6million two-stage equity investment

Kavango Resources plc (LSE:KAV), the Southern Africa focussed metals exploration company, is pleased to announce further details in respect of the Company’s RNS of 5 May 2023 in which it announced a potential £6,000,000 conditional equity investment into Kavango (“£6.0 million Equity Investment”). The £6.0 million Equity Investment is to be completed via a conditional direct subscription into the Company in two-stages by a single investor, Purebond Limited (“Purebond”) (the “Subscription”).

The Subscription will be carried out by the conditional issue of 140,000,000 new ordinary shares of £0.001 each (the “Stage 1 Subscription Shares”) in the capital of the Company at a price per share of 1 penny (the “Subscription Price”) (the “Stage 1 Subscription”), and the conditional issue of 460,000,000 new ordinary shares of £0.001 each (the “Stage 2 Subscription Shares”) at the Subscription Price per share (the “Stage 2 Subscription”). Stage 2 will be subject to the approval by the Financial Conduct Authority of a prospectus and the approval by independent shareholders of a waiver in accordance with Rule 9 of the Takeover Code (Whitewash) (among other conditions further detailed below).

Purebond currently holds 85,000,000 shares in the Company, which equates to a holding of 12.05%. In addition, Solai Pension Schemes (“Solai”) holds 1,000,000 shares in the Company equating to a current holding of less than 1%. On the issue of the Stage 1 Subscription Shares, Purebond and Solai will hold 226,000,000 ordinary shares representing 26.7% of the Company’s issued share capital. Successful completion of the Subscription will result in Purebond and Solai holding 686,000,000, approximately 52.5% of the Company’s issued share capital.

Ben Turney, Chief Executive Officer of Kavango, commented:

We would like to thank Purebond for the strong faith they are showing in Kavango. Today’s £6million two stage conditional equity financing is a seminal moment for our Company. We’ve worked extremely hard over the last 18 months, in challenging conditions, to position the business to succeed. We’ve made significant progress on all fronts and greatly sharpened our exploration focus.

This year, we’ve redirected our attention in the Kalahari Copper Belt to our highly prospective Karakubis licence block, identified the lode gold potential at Ditau and made final preparations to drill the 28,700 Siemens B1 Conductor. We are also in the closing stages of at least one acquisition. With the substantial backing of Purebond, we now move forward with confidence that we have the resources available to pursue our exploration strategy.

Subscription Terms

The Subscription will be completed over two stages:

Stage 1 – Purebond has conditionally subscribed for 140,000,000 Stage 1 Subscription Shares in the Company on the terms described above, which includes the Stage 1 Conditions being satisfied, as set out below. Further announcements will be made in due course on the Stage 1 Subscription.

Stage 2 – Purebond has conditionally subscribed for 460,000,000 Stage 2 Subscription Shares in the Company on the terms described above, which includes the Stage 2 Conditions being satisfied. Further announcements will be made in due course on the Stage 2 Subscription.

Completion of the Stage 1 Subscription is subject to (i) the Company having the necessary authorities to issue the Stage 1 Subscription Shares, including disapplication of pre-emption rights and (ii) admission of the Stage 1 Subscription Shares to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc (the “Stage 1 Conditions”). The Company intends to put resolutions to shareholders for the relevant share authorities in respect of the Stage 1 Subscription Shares at its 2023 annual general meeting, details of which will be announced soon.

Completion of the Stage 2 Subscription is subject to (i) approval by the Financial Conduct Authority of a prospectus; (ii) approval by independent shareholders of a waiver in accordance with Rule 9 of the Takeover Code; (iii) the Company having the necessary authorities to issue the Stage 2 Subscription Shares, including disapplication of pre-emption rights and (iv) admission of the Stage 2 Subscription Shares to the Standard List segment of the Official List and to trading on the main market of the London Stock Exchange plc  (the “Stage 2 Conditions”).

As an additional term of the Subscription, while Purebond remains a shareholder of the Company, the Company has agreed to offer Purebond the opportunity to participate in all future fundraisings carried out by the Company on a pro rata basis to its shareholding at the time of any such fundraising. Purebond will also be given the opportunity to maintain its percentage interest in the Company following the exercise of any warrants issued by the Company.

Use of funds

Funds from the Subscription will contribute to the Company’s general working capital, fund further exploration work and provide finance for possible acquisitions.

Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (“UK MAR”). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Further information in respect of the Company and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.

For further information please contact:

Kavango Resources plc                                                                                     

Ben Turney

bturney@kavangoresources.com

+46 7697 406 06

First Equity (Broker)

+44 207 374 2212

Jason Robertson              

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