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ECR Minerals #ECR – Novum Securities Broker Note

ECR Minerals #ECR joint broker Novum Securities recently published a research note by Dr Ryan Long comparing ECR to 17 listed junior #gold companies working in the Victoria Goldfields.

Read & download that note directly from the ECR website

https://www.ecrminerals.com/investors-media/research-notes

ECR Minerals #ECR CEO Interview – Alan Green talks to Craig Brown

Brand Comms CEO Alan Green talks to ECR Minerals #ECR CEO Craig Brown about the company’s flagship gold exploration projects in the heart of Australia’s Victoria Goldfields.

Craig talks about the recent placing to raise a further £2m with Novum Securities at 2.2p, and elaborates on the rationale behind it, before discussing the initial drilling results at the Bailieston Historic Reserve 3 prospect, that led to a fall in the share price despite identifying gold and gold mineralisation.

We look at slides from the current company presentation, and examine the scale of the operations and historic gold grades from the other Bailieston prospects including Blue Moon, Black Cat, HR4 (Cherry Tree, Cherry Tree South) and Yellow & Red Moon.

We move to Creswick and discuss the Dimocks Main Shale geological feature, the historical (2019) grades, license applications and JV implications and the upcoming drilling campaign. Craig then updates on the Tambo Project, and the connection with ECR’s Head Geologist Dr Rodney Boucher before we discuss the Bendigo HQ operation.

Alan and Craig then summarise by looking at the current company valuation vs. assets and work underway.

ECR Minerals #ECR raises £1,112.752 in warrant exercises & appoints Novum Securities as Joint Broker

ECR Minerals plc (LON: ECR), the gold exploration and development company focussed on Australia, is pleased to announcean update confirming a significant warrant exercise, the current financial position of the Company and the appointment of a joint broker.

Exercise of Warrants (“Warrant Shares”)

ECR has received notice to exercise warrants over 55,856,391 new ordinary shares in the Company. Of this number, 55,356,391 new ordinary shares are being issued pursuant to the exercise of warrants at 2p per share, and 500,000 new ordinary shares pursuant to the exercise of warrants at 1.125p per share. Aggregate subscription monies of £1,112.752.82 have been received by ECR in respect of the exercise of these warrants.

Company Financial Position

Following receipt of the above warrant monies ECR now has cash balances of c.£4 million and is therefore, in the Board’s view, in an exceptionally strong financial position.

This strength of the Company’s financial position enables ECR to comfortably continue to embark on its previously announced exploration programmes with confidence.

With our own in-house drilling capability we are planning to undertake extensive drill programmes across our Victoria Goldfields interests.

Appointment of Joint Broker

ECR is pleased to announce that it has appointed Novum Securities (“Novum”) as a joint broker with immediate effect. With the current cash position ECR currently has no intention of carrying out a placing.

Novum are to undertake broker research on ECR Minerals plc, with a particular focus on enhancing market awareness of the Company, notably in the institutional investor community.

Admission of Shares

Admission of the Warrant Shares to trading on AIM is expected to occur on or around 28 January 2021 (“Admission”). Upon Admission, ECR’s issued ordinary share capital will comprise 749,333,993 ordinary shares of 0.001p. This number will represent the total voting rights in the Company, and, following admission of the Warrant Shares, may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules. The Warrant Shares will rank pari passu in all respects with the ordinary shares of the Company currently traded on AIM.

MARKET ABUSE REGULATIONS (EU) No. 596/2014

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR). Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

FOR FURTHER INFORMATION, PLEASE CONTACT:

ECR Minerals plc

Tel: +44 (0)20 7929 1010

David Tang, Non-Executive Chairman

Craig Brown, Director & CEO

Email:

info@ecrminerals.com

Website: www.ecrminerals.com

WH Ireland Ltd

Tel: +44 (0)161 832 2174

Nominated Adviser

Katy Mitchell/James Sinclair-Ford

SI Capital Ltd

Tel: +44 (0)1483 413500

Broker

Nick Emerson

ABOUT ECR MINERALS PLC

ECR is a mineral exploration and development company. ECR’s wholly owned Australian subsidiary Mercator Gold Australia Pty Ltd has 100% ownership of the Bailieston and Creswick gold projects in central Victoria, Australia. ECR is currently drilling high priority targets on the Bailieston gold project using the Company’s own diamond drill rig. ECR has an experienced exploration team with significant local knowledge in the Victoria Goldfields.

Following the sale of the Avoca, Moormbool and Timor gold projects in Victoria, Australia to Fosterville South Exploration Ltd (TSX-V: FSX), ECR has the right to receive up to A$2 million in payments subject to future resource estimation or production at those projects.

ECR has earned a 25% interest in the Danglay gold project, an advanced exploration project located in a prolific gold and copper mining district in the north of the Philippines, and holds a royalty on the SLM gold project in La Rioja Province, Argentina.

Cadence Minerals #KDNC Restructuring of Loan Note

Cadence Minerals (AIM/NEX: KDNC; OTC: KDNCY) announced on the 1 November 2017 that it had repaid US$6.45 million of its US$12.9 million loan note and restructured the remaining US$6.45 million as two separate convertible loan notes (“Convertible Notes”), which were due to mature at the end of September 2018.

Cadence is pleased to announce that it has refinanced the Convertible Notes by agreeing a US$4.87 million amortizing loan note with a consortium of institutional lenders. The loan will be primarily used to repay the outstanding balances due on the Convertible Notes (US$4.2 million) and future interest payments. The loan will attract an effective 9% per annum and has a principle repayment holiday until 1st January 2019. After which the loan will be paid via equal instalments over a 12-month period, with the principle being fully repaid by the 1st December 2019. The note is secured over the Company’s assets.

Appointment of Joint Broker

The Company is pleased to announce that is has appointed Novum Securities Limited as joint broker to the Company with immediate effect.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

– Ends –

For further information:

Cadence Minerals plc

+44 (0) 207 440 0647

Andrew Suckling

Kiran Morzaria

WH Ireland Limited (NOMAD & Broker)

+44 (0) 207 220 1666

James Joyce

James Sinclair-Ford

Hannam & Partners LLP (Joint Broker)

+44 (0) 207 907 8500

Neil Passmore

Ingo Hofmaier

About Cadence Minerals:

Cadence is dedicated to smart investments for a greener world. The planet needs rechargeable batteries on a global scale – upcoming supersized passenger vehicles, lorries and buses – require lithium and other minerals to achieve this goal. Cadence is helping find these minerals in new places and extracting them in new ways, which will meet the demand of this burgeoning market. 

Cadence invests across the globe, principally in lithium mining projects. Its primary strategy is taking significant economic stakes in upstream exploration and development assets within strategic metals. We identify assets that have strategic cost advantages that are not replicable, with the aim of achieving lower quartile production costs. The combination of this approach and seeking value opportunities allows us to identify projects capable of achieving high rates of return.

The Cadence board has a blend of mining, commodity investing, fund management and deal structuring knowledge and experience, that is supported by access to key marketing, political and industry contacts. These resources are leveraged not only in our investment decisions but also in continuing support of our investments, whether it be increasing market awareness of an asset, or advising on product mix or path to production. Cadence Mineral’s goal is to assist management to rapidly develop the project up the value curve and deliver excellent returns on its investments.

Forward-Looking Statements:

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as ”believe” ”could” “should” ”envisage” ”estimate” ”intend” ”may” ”plan” ”will” or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements.

 

Andalas Energy & Power #ADL announces a North Sea license acquisition and placing

Andalas Energy and Power Plc, the AIM listed upstream oil and gas and energy company (AIM: ADL), is pleased to announce it has acquired an interest in Licence P2112, a Southern North Sea Licence, which contains Badger, a large undrilled gas prospect through the acquisition of a 14.75% equity interest in Eagle Gas Limited, a private UK oil and gas company.

Highlights:

  • Eagle, through its wholly owned subsidiary, has a 66.67% interest in Licence P2112.
  • Andalas’ investment will provide capital for Eagle’s share of the 2018 work programme, contracted to PGS.
    • The existing 3D seismic data and interpretation by the previous Operator indicates that Badger has significant gas potential.
    • The work programme will further define the size of the Badger prospect and fully meets the licence commitment.
    • Eagle is targeting completion of the work programme in Summer 2018.
  • The Licence straddles existing pipeline infrastructure.
  • Creates the potential for further investments opportunities in the UKCS.
  • Consideration payable to Eagle is £125,000 in cash and 147,058,824 fully paid Andalas shares equating to £25,000 at the placing price.
  • £600,000 (gross) raised via the issue of 3,529,411,765 new ordinary shares of no par value, at a price of 0.017 pence per share – funding the acquisition and for general working capital.

Simon Gorringe, CEO of Andalas Energy and Power PLC said: “This investment is the first step in delivering my broader strategy to combine nearer term catalysts for shareholders, with our existing Indonesian projects.  Indonesia offers significant potential and we remain committed to our existing projects and strategy there. However to generate sustained value for shareholders we believe we must diversify into other projects or jurisdictions where suitable opportunities arise.  Our team has over 25 years’ experience in the UK North Sea, working across 15 fields encompassing every stage of the development cycle, which makes the Eagle opportunity particularly complementary to the teams skill set.

The investment gives us a material stake in an asset at an attractive entry point, with an existing work programme underway, providing significant upside potential. It also gives us access to other possible UK oil and gas projects that are being worked on by the team at Eagle.  We believe our expertise will help Eagle progress Badger and assist in negotiations on other business development opportunities.

Under our new low-cost operating model I have continued to stream line costs.  In particular in my first six months as CEO, I have already reduced our 6 month cash spend by 25% and continue to make reductions.  The benefit of these cost savings mean that the funds from this placing will provide us with sufficient working capital to deliver the results of Eagle’s work programme and make progress on our other initiatives.  We look forward to providing further updates on this and other projects in due course.”

About Eagle and the Badger prospect

Seaward production Licence P2112 contains the Badger prospect, one of the largest undrilled gas prospects in the UK Southern North Sea. Eagle, through its wholly owned subsidiary, has a 66.67% interest in Licence P2112.  The unaudited management accounts of Eagle for the period from 1 September 2017 to 28 February 2018 showed a pre-tax loss of £276,435.

The 2018 work programme includes the reprocessing of 3D seismic. The programme fully meets the Licence commitment and Petroleum Geo-Services ASA (“PGS”) has been contracted to undertake the work. Eagle and Andalas will cooperate on funding the long-term development of the project.

The consideration payable to Eagle is £125,000 in cash and 147,058,824 fully paid Andalas shares at the placing price for the 14.75% interest in Eagle.   Andalas will issue a further 147,058,824 (£25,000) consideration shares to Eagle on the earlier of the Licence being extended beyond 31 December 2018 and Eagle acquiring additional assets agreed by Andalas.  The investment in Eagle will initially be recorded in the books of Andalas at the fair value of the consideration.

The acquisition is funded via the placing of 3,529,411,765 new ordinary shares of no par value, raising gross proceeds of £600,000, at a price of £0.00017 per share.  The proceeds of the placing will also be applied for general working capital purposes.  Application has been made for the Placing Shares and Initial Consideration Shares to be admitted to trading on AIM and dealings are expected to commence on or around 13 May 2018.

In conjunction with the placing, a total of 264,705,882 three year warrants exercisable at the placing price have been issued.

Appointment of Joint Brokers

Upon completion of the placing, Novum Securities Limited and Optiva Securities Limited have been appointed as Joint brokers to the Company.

Total voting rights

Following Admission, the Company’s issued share capital will consist of 9,662,162,387 ordinary shares of nil par value, with each Ordinary Share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. This figure of 9,662,162,387 Ordinary Shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.

For further information, please contact:

Simon Gorringe Andalas Energy and Power Plc Tel: +62 21 2965 5800
David Porter/Nick Tulloch Cantor Fitzgerald Europe
(Nominated Adviser and Joint Broker)
Tel: +44 20 7894 7000
Colin Rowbury Novum Securities Limited
(Joint Broker)
Tel: +44 207 399 9427
Christian Dennis/ Tejas Padalkar Optiva Securities Limited
(Joint Broker)
Tel: +44 20 3411 1881
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