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MetalNRG PLC (MRNG) – Result of AGM

 

At the Annual General Meeting of the Company held today, 20 June 2022 at 9.00 am the Resolutions set out in the Notice of Annual General Meeting were duly passed save for Resolutions 6 and 7 (Directors Remuneration Policy and Directors Remuneration Report) and Resolutions 9 (disapplication of pre-emption rights) and Resolution 10 (authority to call general meetings other than annual general meetings on not less than 14 days’ notice).

The results of the poll voting (including all proxy votes) will be available shortly on the Company’s website, www.metalnrg.com .

For further information, please contact:

METALNRG plc
Rolf Gerritsen (Chief Executive Officer)


+44 (0) 20 7796 9060

Corporate Adviser
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey

+44 (0) 20 7469 0930

Corporate Broker
SI CAPITAL LIMITED
Nick Emerson

+44 (0) 1483 413500

Research Talks Special Live from the UK Investor Show in London

In a research talks special streamed from the The UK Investor Show Alan Green and Mark Fairbairn discuss MetalNRG Plc #MNRG Kavango Resources PLC #KAV Technology Minerals #TM1 and the sum of the parts valuation case for Power Metal Resources #POW

#research #gold #copper #nickel #investor #RareEarth #circulareconomy #batteryrecycling #BatteryMetals #mining #exploration #mineralexploration Rolf A Gerritsen Ben Turney Brett Grist Robin Brundle Alex Stanbury Emily Steward Harry Chathli John Bick Paul Johnson Tristan Pottas Oliver Friesen

MetalNRG #MNRG – Gold Ridge – Results from Geochemical Sampling

MetalNRG plc (“MetalNRG” or the “Company”)  announces that it has completed its Phase I geochemical campaign at its Gold Ridge Gold mine property in Arizona with very encouraging results that pave a pathway to further exploration work to be focussed and planned.

Highlights:

· Soil Geochemistry has provided evidence for multiple geologic events including
the offset of Apache Pass Shear Zone (APSZ) at eastern termination of historic mining.

· This offset implies that historically mined gold mineralization is transposed northwards where no exploration drilling has occurred.

· A new linear gold anomaly has been defined in the Southern PC block which parallels the APSZ  as a multi-element geochemical anomaly.

· A new significant multi-element geochemical anomaly occurs 1km west of the Dives Mine.

· Copper anomalies in volcanic rocks show strong evidence for radial fracturing, a common feature of porphyry deposits.

· The findings of the geochemical program encourages the Company to conclude that the area may host a larger mineralization system controlling all the surface mines and showings. 

MetalNRG has completed just under 600 (Phase I) of the 1,000 geochemical samples planned. The laboratory analysis was conducted for Gold, Silver and 49 other elements by ALS Chemex. The largest gold anomalies were found in historical areas mined for gold; however, a secondary zone of gold anomalies was found in an area previously unexplored and delineates a new linear zone of gold mineralization in the Southern Precambrian block.

All sample results to date show:

· Gold above 25ppb = 14%

· Silver above 0.3ppm = 38%

· Lead above 35ppm = 47%

· Copper above 35 ppm = 40%

· Zinc above 115 ppm = 33%

Bart Stryhas, Senior Geologist on the project, commented: “These results confirm our previous beliefs, that there is indeed a real possibility of a larger un-discovered gold/base metal system at Gold Ridge; we are now working with the Board to establish the next steps.”

For more information, MetalNRG will make a PowerPoint presentation available on its website www.metalnrg.comunder the ‘Projects’ sections.

Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He has reviewed the update and consents to theinclusion of the exploration information in the form and context in which it appears here. He is a Competent Person for the purposes of the reporting of these results.

  END

 

Contact details:

MetalNRG plc

Rolf Gerritsen
Christopher Latilla-Campbell

+44 (0) 20 7796 9060

Corporate Broker
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey

+44 (0) 20 7469 0930

Corporate Broker
SI CAPITAL LIMITED
Nick Emerson

+44 (0) 1483 413500

 

MetalNRG #MNRG – Exclusive Agreement to Source Debt for Waste to Energy Projects

MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, is pleased to announce that it has agreed an exclusive remit for AdviCorp PLC to source a £20 million to £40 million debt facility to be invested on a project by project basis in identified, qualified and “shovel ready” waste to energy projects in Europe.

Following MetalNRG and EQTEC plc (AIM: EQT) entering into a Business Development Partnership (as previously announced on 22 March 2021) extensive work has been completed by the partnership to secure exclusivity and develop a pre-qualified secured pipeline of waste-to-energy and waste-to-fuels projects. These projects are expected to deliver revenues within 6 to 18 months of funding. The first project is already under construction in Italy.

The focus of our pipeline development has been on identifying and securing a number of mature projects that can deliver rapid revenue generation and meet the requirements for debt investment. The partnership has developed a 2-tier pipeline of projects along the following qualifications:

Tier 1: Projects that have successfully achieved financial close, to be revenue generating by the end of 2022, with a typical investment of between £2 million to £10 million, delivering an unleveraged IRR of between 12% to 16% with all the requirements for debt financing in place.

Tier 2: Projects ready to achieve financial close and construction to start in Q2 to Q4 2022, typical investment between £5 million and £10 million per project and leading to revenue within a maximum of 18 months from funding.

AdviCorp PLC, established in London in 1997 with offices in both London and Rome, is an independent investment banking firm operating in the areas of Corporate Finance, Mergers and Acquisitions. AdviCorp works with dynamic companies looking to grow their businesses. The AdvCorp team has decades of international experience in multiple financial products and markets, earned in prior executive roles in international investment banks and corporations.

AdviCorp PLC is authorised and regulated by the Financial Conduct Authority.

MetalNRG and AdviCorp have entered into an exclusive agreement that will see AdviCorp advise on securing a debt facility to be drawn down on a project by project basis.

Rolf Gerritsen commented “The agreement with AdviCorp strengthens the foundation to our development plan with EQTEC and our business partnership. The access to debt will enable MetalNRG to further develop a wider portfolio of waste to energy projects that will give us substantial flexibility.

I am delighted that AdviCorp has agreed to work with us as its reputation for delivery is outstanding. I very much look forward to supplying the market with additional information as we progress this extremely exciting project.”

 

  END

Contact details:

MetalNRG PLC

Rolf Gerritsen
Christopher Latilla-Campbell

+44 (0) 20 7796 9060

Corporate Broker
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey

+44 (0) 20 7469 0930

Corporate Broker
SI CAPITAL LIMITED
Nick Emerson

+44 (0) 1483 413500

 

#MNRG MetalNRG – BritNRG Update

MetalNRG plc (“MNRG” or the “Company”)  announces that further to the announcement made on 31 January 2022 that it had filed and served civil legal proceedings in the English High Court against Brit ENERGY Holdings LLP (the “LLP”), Pierpaolo Rocco (“Mr Rocco”) and BritNRG Limited (the “Joint Venture Company”) (together the “Defendants”) for, inter alia, a declaration and the recovery from the Defendants of monies paid to the LLP in 2021, it has, with disappointment, agreed to a further request for extensions of time by the Defendants for the filing of defences to 18 March 2022 (the maximum time permitted without the consent of the Court).

The Company has granted the extensions with certain conditions attached, in the light of the fact that any hearing at which opposition could be argued would inevitably only take place after the date of the requested extension. Accordingly, given the Company is primarily focussed on receipt of the actual defences, in order to assess their content, consent was granted by agreement. 

The Company will provide further updates on these issues and the legal proceedings as appropriate and once the defences have been received.

The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.

END

Contact details:

MetalNRG PLC

Rolf Gerritsen
Christopher Latilla-Campbell

+44 (0) 20 7796 9060

Corporate Broker
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey

+44 (0) 20 7469 0930

Corporate Broker
SI CAPITAL LIMITED
Nick Emerson

+44 (0) 1483 413500

 

MetalNRG #MNRG – Update on Company’s EQTEC Italia Investment & Issue of Convertible Loan Notes

Following the trading update released to market by EQTEC plc (AIM: EQT) on 1 February 2022, the Company is pleased to provide an update on progress made at its investment project in Italy.

In October, EQTEC’s work with partners on the recommissioning of EQTEC Italia MDC SRL in Tuscany, Italy (“Italia MDC”) progressed with the site fully cleaned and relevant components disassembled and cleared.

In December, EQTEC Italia ordered core technology components and all deliveries were made on schedule. The 1MWe plant will convert multiple types of biomass feedstock into heat, power and/or fuel for local businesses and residents.

Once operational, Italia MDC is expected to generate annual plant revenues of c. 2,000,000, with plant EBITDA of c. 750,000.

The Company currently owns 26.6% of Italia MDC. In January 2022, Company Directors visited the site with fellow shareholders and reviewed progress with local construction partner COS.M.I. SRL.

The meeting also addressed the potential for further commercial opportunities for the plant, including production of high-quality biochar and construction of additional infrastructure to accommodate higher-margin feedstock and further offtake alternatives.

EQTEC is undertaking feasibility assessments now and expects to complete them in Q1 2022.

MetalNRG Chief Executive, Rolf Gerritsen, commented “Good progress is being made toward recommissioning the Italia MDC plant in 2022 and we look forward to our ongoing working relationship with EQTEC. The partnership is a solid development opportunity and investment, allowing us to support the social, environmental and economic improvements that a sustainable approach to waste-to-energy can have.”

Separately, MetalNRG (LON:MNRG) today announces that it has agreed to issue up to £200,000 of Convertible Loan Notes (“CLN”) to Global Investment Strategy UK Limited (“GIS”).

The CLN carry the following conditions; the CLN are fixed rate, unsecured loan notes carrying a simple, non-compounding interest rate of 10% per annum (accruing on a daily basis).

The CLN are repayable, if not previously converted, on the applicable maturity date. The maturity date will be , either:

(a) the date falling 6 months after the date of execution of the CLN instrument or

(b) the date of the first material equity fund raising by the Company following the date of execution of the CLN instrument.

Holders of the CLN may convert the principal and interest into new ordinary shares in the capital of MetalNRG (“New Shares”) at a price equal to a 20% discount to the average price at which New Shares are issued by MetalNRG.

The CLN instrument contains customary events of default and should an event of default occur, the conversion price will be equal to the nominal value of MetalNRG ordinary shares.  

Conversion of the CLN is subject to the Company maintaining sufficient headroom within the Company’s share authorities or, if required, the Company filing a secondary prospectus which will enable the admission to listing and trading of the further New Shares to be issued on conversion.  

A copy of the CLN Instrument will be posted on the Company’s web site.

 END

 

Contact details:

MetalNRG PLC
Rolf Gerritsen

Christopher Latilla-Campbell

 


+44 (0) 20 7796 9060

Corporate Broker
PETERHOUSE CAPITAL LIMITED
Lucy Williams

Duncan Vasey

+44 (0) 20 7469 0930

Corporate Broker
SI CAPITAL LIMITED
Nick Emerson

+44 (0) 1483 413500

 

Alan Green covers MetalNRG #MNRG and Bidstack #BIDS on this week’s Stockbox Research Talks

Alan Green covers MetalNRG #MNRG and Bidstack #BIDS on this week’s Stockbox Research Talks

MetalNRG #MNRG – Holdings in Company

1. Issuer Details

ISIN

GB00B15FS791

Issuer Name

METALNRG PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Edward Peter John Spencer

City of registered office (if applicable)

Milton Keynes

Country of registered office (if applicable)

United Kingdom

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

 

City of registered office (if applicable)

 

Country of registered office (if applicable)

 

5. Date on which the threshold was crossed or reached

25-Oct-2021

6. Date on which Issuer notified

25-Oct-2021

7. Total positions of person(s) subject to the notification obligation

% of voting rights attached to shares (total of 8.A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached

7.000000

0.000000

7.000000

72465363

Position of previous notification (if applicable)

3.000000

0.000000

3.000000

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

Class/Type of shares ISIN code(if possible)

Number of direct voting rights (DTR5.1)

Number of indirect voting rights (DTR5.2.1)

% of direct voting rights (DTR5.1)

% of indirect voting rights (DTR5.2.1)

GB00B15FS791

72465363

7.000000

Sub Total 8.A

72465363

7.000000%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

Type of financial instrument

Expiration date

Exercise/conversion period

Number of voting rights that may be acquired if the instrument is exercised/converted

% of voting rights

Sub Total 8.B1

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

Type of financial instrument

Expiration date

Exercise/conversion period

Physical or cash settlement

Number of voting rights

% of voting rights

Sub Total 8.B2

9. Information in relation to the person subject to the notification obligation

1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

Ultimate controlling person

Name of controlled undertaking

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

10. In case of proxy voting

Name of the proxy holder

 

The number and % of voting rights held

 

The date until which the voting rights will be held

 

11. Additional Information

 

12. Date of Completion

25-Oct-2021

13. Place Of Completion

London

Alan Green discusses AIS Resources #AIS, MetalNRG #MNRG, Mode Plc #MODE & Cadence Minerals #KDNC on the Stockbox Research podcast

Alan Green discusses AIS Resources #AIS, MetalNRG #MNRG, Mode Plc #MODE & Cadence Minerals #KDNC on the Stockbox Research podcast

MetalNRG #MNRG – GoldRidge Gold Project Update

MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, provides an update on progress made at its 100% owned GoldRidge Gold Project in Arizona following our  announcement made on 19th May 2021 in which it explained that an initial programme of data compilation was essential to recover and assimilate the substantial number of maps and quantity of digital and paper files into a useable archive. This work has now been completed within budget and the timeframes set. 

Following the completion of the Company’s Competent Persons Report updated by SRK USA, in May 2021, MetalNRG set out to further develop the GoldRidge property.  The CPR pointed to larger than previously known opportunities at the project and specifically SRK believe that:

–     Turn-key prospects to develop vein-hosted mineral resources from drilling are available

–     That the project offers great opportunities to discover satellite gold deposits worth pursuing as the exploration is low cost

In June 2021, the Company’s Geologist, Bart Stryhas, Senior Geologist, PhD CPG, based in the USA and leading the project, set out to:

–     Review all claims and ensure all property claims were up to date

–     Consolidate all available historical information on the property into a detailed data room

–     From the consolidation of the information, the Company developed detailed topography covering all claim areas in UTM NAD 83 datum

–     Map underground geometries for all development and mining stopes at Gold Prince &
Dives Mines

–     Integrate 446 historic Drillholes with Au and Ag analyses totaling 11km

–     Locate 170 surface rock samples with Au analysis

–     Compile 280 soil geochemical assays with multi elemental analysis

–     Digitize all roads and trails about and internal to the claim area

–     Locate claim corners

–     Register several geologic maps at various scales

–     A total 5,109 files have been reviewed and used as feed into our development approach

The work completed gives us a solid understanding of the history of the project, the potential it could offer and a clear pathway to add substantial value to the project. It has identified a number of areas that have shown, via our field work, that mineralisation is present but has never been explored in any detail.

Our findings have been summarised in a new GoldRidge Project presentation which can be viewed on our web site www.metalnrg.com.

Rolf Gerritsen, CEO MetalNRG Plc, commented The GoldRidge Project appears to offer a considerable larger opportunity than previously anticipated and the work completed to date by Bart confirms that the area has been under explored and under developed with solid indicators of mineralisation throughout the property. Between now and November we will be on site and we will further validate our assumptions via detailed field work. We have the waste dumps and the remaining pillars that are available to us but going after them without a plan to capture the additional opportunities would not be right to ensure we maximise returns for our shareholders.”

For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of the Company is Rolf Gerritsen, Chief Executive Officer.

Christian Schaffalitzky, FIMMM, PGeo, CEng, is a director of the Company. He has reviewed the update and consents to the inclusion of the exploration information in the form and context in which it appears here. He is a Competent Person for the purposes of the reporting of these results.

END

 

Contact details:

MetalNRG PLC

Rolf Gerritsen
Christopher Latilla-Campbell


+44 (0) 20 7796 9060

Corporate Adviser
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey

+44 (0) 20 7469 0930

Corporate Broker
SI CAPITAL LIMITED
Nick Emerson

+44 (0) 1483 413500

 

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