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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tectonic Gold Plc | AQSE:TTAU | Aquis Stock Exchange | Ordinary Share | GB00B9276C59 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.025 | -7.69% | 0.30 | 0.20 | 0.40 | 0.00 | 08:00:15 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTTAU 5 March 2021 TECTONIC GOLD PLC ("Tectonic Gold" or the "Company") Drill Warrant Notice Tectonic Gold plc (TDIM: TTAU), is providing formal notification to "Drill Warrant" holders that on the back of successful initial drilling results the September 2020, the 0.7p warrants are being called. The company has worked with warrant holders to secure approximately £500,000 in new capital from the conversion of approximately 70 million warrants. Unconverted warrants will be rolled to February 2022 with the exercise price reset to 1.4p. Warrant Notice Highlights: * 0.7p September 2020 "Drill Warrants" being called effective today * Indicative demand from warrant holders of approximately £500,000 * Fully funds next phase of technical program * Appointment of Geos Mining mineral consultants to conduct independent modelling * 500+ pre screened samples to be sent for immediate copper and gold assay * Drilling program at Specimen Hill to resume targeting high grade "Southern Copper" discovery Mr. Brett Boynton, Managing Director - Tectonic Gold Plc "Earlier this week we met with warrant holders and explained the need for funding in the order of £500,000 to complete the next phase of the technical program at Specimen Hill. In order to minimise dilution and prevent any pressure of the share price we negotiated with warrant holders an option to exchange any unexercised 0.7p warrants for a 1.4p warrant with a 28 February 2022 exercise date. Warrant holders entering a voluntary 12 month restriction on exercised warrants have been offered a one for two 1.4p warrant with a 28 February exercise date. We are very grateful for the immediate support from our warrant holders and are extremely grateful for the opportunity to get back into the field so quickly after our initial success. Specimen Hill is shaping up to be a world class discovery and we need to extend the drilling along the 5km+ strike zone with increased density to work this up into a meaningful resource. In addition we have brought in one of Australia's leading independent consulting groups, Geos Mining, to provide modelling so that we can formally engage with majors such as our northern neighbour Rio Tinto, and regional heavyweights, Newcrest, Evolution and South32. About Tectonic Gold: Tectonic Gold is a specialist gold exploration company, focused on the identification and delineation of large-scale, multimillion-ounce Intrusion Related Gold Systems ("IRGS"). Tectonic Gold holds a number of gold discoveries in the New England Orogen in Eastern Australia, a prolific gold region that is home to Australia's two largest gold production companies, Newcrest Mining and Evolution Mining. Rio Tinto, one of the largest copper companies in the world has recently taken a large tenement alongside Tectonic's Specimen Hill project Qualified Persons: Mr Jonathan Robbeson - BSc (Hons1), MEconGeol, MMinEng, (CP Geo) is a full-time employee Signature Gold Limited and is a registered Chartered Professional (Geology) with the Australian Institute of Mining and Metallurgy (AusIMM - 304542). Mr Robbeson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and the activity being undertaken to qualify as a Competent Person as defined in the Note for Mining Oil & Gas Companies, June 2009, of the London Stock Exchange and the 2012 Edition of the 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC Code). Mr Robbeson consents to the inclusion in the release of the matters based on his information in the form and context in which it appears. JORC Table 1 information for this release on Specimen Hill can be found on the Company website. The Directors of the Company accept responsibility for the contents of this announcement. For further information, please contact: Tectonic Gold plc +61 2 9241 7665 Brett Boynton Sam Quinn www.tectonicgold.com. @tectonic_gold Financial Adviser, Corporate Adviser and Broker VSA Capital Limited +44 20 3005 5000 Andrew Raca - Corporate Finance Andrew Monk - Corporate Broking Ends 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. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. END
(END) Dow Jones Newswires
March 05, 2021 03:02 ET (08:02 GMT)
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