We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Corcel Plc | LSE:CRCL | London | Ordinary Share | GB00BKM69866 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.005 | 1.33% | 0.38 | 0.35 | 0.40 | 0.40 | 0.375 | 0.375 | 15,290,427 | 16:35:28 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Nonmtl Minrls, Ex Fuels | 0 | -1.26M | -0.0008 | -4.63 | 5.92M |
TIDMCRCL
RNS Number : 4221I
Corcel PLC
12 August 2021
Corcel PLC
("Corcel" or the "Company")
Acquisition of Wo Wo Gap Nickel-Cobalt Project
12 August 2021
Corcel Plc, a natural resource exploration and development company with interests in battery metals and flexible energy generation and storage, announces that it has signed a binding but conditional share purchase agreement with Australian-registered Resource Mining Corporation Limited (ASX: RMI) ("RMI") to acquire 100% of the issued share capital in Australian-registered Niugini Nickel Pty Ltd, which owns 100% of the Wo Wo Gap nickel-cobalt project in Papua New Guinea ("Project"). As consideration for the acquisition, the Company is releasing all liabilities and obligations in connection with its AUD 4,761,087 senior debt position in RMI.
The transaction remains conditional on RMI obtaining shareholder approval at a general meeting, which is expected to be convened by RMI shortly.
Wo Wo Gap Project Details
The Project is located 200km from the Papua New Guinea capital of Port Moresby and some 150km southeast of the Company's existing Mambare asset. The Company sees significant synergies between the two projects and sees this acquisition as a significant step in its evolution into a leading Papua New Guinea battery metal and nickel /cobalt exploration company with material scale in country and the region.
Exploration at the Project dates back to the 1950s and has consisted of multiple drilling programmes, including diamond drilling, wacker holes and ground penetrating radar activities. Project activity of late has focused on maintaining commitments for the exploration licence, including site-based activities such as maintenance of the existing infrastructure and equipment, so as to facilitate a ready state for future exploration and development which is likely to be focused on a potential direct shipping ore operation.
The Project is held through one tenement in Papua New Guinea, EL 1165, which expired on 28 February 2020 and is currently under reapplication for a further 2-year period.
In the year ended 30 June 2021 Niugini Nickel Pty Ltd had an operating loss of 501,080 Papua New Guinea Kina (approximately GBP100,000) .
James Parsons, Chairman, commented:
" We are delighted to have secured direct ownership of the Wo Wo Gap Nickel / Cobalt project subject to approval of RMI shareholders,which positions Corcel as a leading PNG Battery Metal exploration company with genuine scale in both the country and the wider region - this is the culmination of a key part of our long term strategy to build our presence and progress towards creating material value in Papua New Guinea.
Today's news marks further progress as we continue to develop our portfolio of high upside battery metal exploration projects alongside our low risk energy generation and storage projects in the UK. Our strategy remains to support the every-accelerating decarbonisation of the economy by operating at the intersection of battery metals and their end use in flexible energy."
For further information, please contact:
Scott Kaintz 020 7747 9960 Corcel Plc CEO
James Joyce / James Sinclair-Ford 0207 220 1666 WH Ireland Ltd NOMAD & Broker
Simon Woods 0207 3900 230 Vigo Communications IR
This announcement contains inside information under Article 7 of Regulation (EU) 596/2014.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
ACQGSGDIDSBDGBD
(END) Dow Jones Newswires
August 12, 2021 02:00 ET (06:00 GMT)
1 Year Corcel Chart |
1 Month Corcel Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions