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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Jtc Plc | LSE:JTC | London | Ordinary Share | JE00BF4X3P53 | ORD GBP0.01 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 6.00 | 0.72% | 844.00 | 122,544 | 16:35:22 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 852.00 | 855.00 | 853.00 | 835.00 | 843.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Unit Inv Tr, Closed-end Mgmt | 257.52M | 21.82M | 0.1318 | 64.64 | 1.41B |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 18:28:18 | O | 535 | 842.755 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 18/4/2024 | 07:00 | UK RNS | JTC PLC Annual Financial Report and Notice of AGM |
| 10/4/2024 | 07:00 | UK RNS | JTC PLC Vesting and Grant of Share Plan Awards |
| 09/4/2024 | 09:57 | ALNC |  JTC profit falls but hails "exceptional year" as meets strategic goal |
| 09/4/2024 | 07:00 | UK RNS | JTC PLC Full year results for year ended 31 December 2023 |
| 20/3/2024 | 17:59 | UK RNS | JTC PLC Holding(s) in Company |
| 04/3/2024 | 10:51 | ALNC | IN BRIEF: JTC completes acquisition of Blackheath Capital Management |
| 04/3/2024 | 07:00 | UK RNS | JTC PLC Completion of Acquisition and Issue of Equity |
| 29/2/2024 | 10:33 | UK RNS | FRP Advisory Group PLC Holding(s) in Company |
| 01/2/2024 | 09:48 | ALNC | JTC focuses on investments as celebrates "very successful" 2023 |
| 01/2/2024 | 07:00 | UK RNS | JTC PLC Pre-close Full Year Trading Update |
Jtc (JTC) Share Charts1 Year Jtc Chart |
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1 Month Jtc Chart |
Intraday Jtc Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/4/2024 | 12:47 | JTCod's Blog | 92,981 |
| 16/11/2021 | 09:14 | JTC Group IPO March 18 | 31 |
| 19/2/2001 | 22:18 | JTC - up 20% wow . nm | 3 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-04-18 17:28:19 | 842.76 | 535 | 4,508.74 | O |
| 2024-04-18 17:11:42 | 844.88 | 497 | 4,199.03 | O |
| 2024-04-18 17:11:19 | 850.45 | 273 | 2,321.74 | O |
| 2024-04-18 16:58:59 | 843.66 | 22,121 | 186,626.69 | O |
| 2024-04-18 16:58:03 | 844.00 | 7,379 | 62,278.76 | O |
| Top Posts |
|---|
Posted at 18/4/2024 09:20 by Jtc Daily Update Jtc Plc is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker JTC. The last closing price for Jtc was 838p.Jtc currently has 165,521,678 shares in issue. The market capitalisation of Jtc is £1,410,244,697. Jtc has a price to earnings ratio (PE ratio) of 64.64. This morning JTC shares opened at 843p |
Posted at 18/8/2023 09:40 by chasbas There are many cheap stocks at the moment BUT the combination of JTC's trading update on 25th July and the completion of the SDTC acquisition at a good price is very positive with Interim results on 12th Sep. IMO this is a very low risk quality growth stock with a PEG only just above 1. The placing to buy SDTC was at 700p and you can now buy shares at 670p. Please reread JTC's trading update on 25th July. Management has a great record and I don't think there is any reason not to trust them.All IMO good luck all |
Posted at 11/4/2023 12:31 by kalai1 JTC plc posted FY results for the year ended 31st December this morning reporting a “year of exceptional organic growth, inorganic consolidation and cash generation, with strong momentum carried into 2023.” Revenue was up 35.6% to £200m, PBT was up 29.3% to £35.9m, the total dividend was up +30.1% at 9.98p. The outlook is for more of the same, with strong net organic growth expected to continue in 2023 and beyond and a healthy pipeline of M&A opportunities across both Divisions. The balance sheet also strengthened with leverage reduced signficantly to 1.59x underlying EBITDA at period end. Valuation looks a little unhelpful with forward PE ratio at 21x, PS ratio over 6x. The share price also lacks some momentum and has been drifting sideways over the past couple of years. JTC is certainly a business delivering profitable growth, but is a share to monitor for the time being......from WealthOracle |
Posted at 19/4/2022 14:11 by km18 JTC plc posted FY numbers for the year ended 31st December 2021 this morning. Revenue growth was strong at 28.2% to £147.5m. Underlying EBITDA was up 25.0% to £48.4m from 2020: £38.7m with an underlying EBITDA margin of 32.8% down a touch from 2020: 33.6%. The dividend was up 13.6% at 7.67p per share, the balance sheet remains robust and strengthened by £144.8m gross proceeds from two equity fundraises. Medium-term guidance was maintained with net organic revenue growth expected at 8% - 10% per annum and underlying EBITDA margin of 33% - 38%. The M&A pipeline remains healthy and a disciplined approach will continue. Valuation is the main cloud on the investment horizon, forward PE ratio at 26, PS ratio at over 9 are both bottom quartile for the Investment Banking & Investment Services markets. JTC is a solid, growing and reasonably profitable financial services company, but it is a share to monitor for now.......from WealthOracleAM |
Posted at 16/11/2021 08:53 by chasbas Huge volume on Fri of over 1m. Share price is surging but no RNS. Anybody know anything?? Grateful for help! GLA |
Posted at 17/9/2021 10:15 by sharetalk Chill Brands Group (CHLL):Revenues growing rapidly in the USA and will grow even more rapidly when they get UK FSA approval due soon to sell in UK high street stores and also launch into Europe. May 2021 Orders just for Chill in USA = $1.0m (Trading Update, 17/5/2021) April 2021 Orders just for Chill in USA = $0.34m (Trading Update, 17/5/2021) "Following receipt of the orders outlined above, the Group is trading profitably" (17/5/2021) Yr to 31/3/2021 Revenues = £320,875 (+346%) (Prelim Results, Yr to 31/3/2021 [31/8/21]) Yr to 31/3/2020 Revenues = £92,606 |
Posted at 20/7/2021 09:15 by tell sid Great Trading Update from Alpha Growth (ALGW) showing strong growth:Alpha Growth PLC 19 July 2021 Trading Update Q2 2021 Alpha Growth Plc (LSE: ALGW and OTCQB: ALPGF), a leading financial services specialist in the growing uncorrelated longevity asset class is very pleased to provide a trading update for Q2 2021. Key Highlights for the quarter -- Aggregate assets under control of the group have grown by circa $40m in the past quarter alone, increasing from $300m to circa $340m. -- Providence Life Assurance Company (PLAC) has increased its balance sheet assets from $275m to over $308m, an increase of more than $33m. -- The Black Oak Alpha Growth Fund has increased to circa $30m in assets, up from $22m at the beginning of the year and an increase of $4.5m in the past quarter alone. -- A strategic relationship has been formed with Eaton Partners, a tier 1 capital introducer, to further accelerate growth in AUM. Eaton Partners have been instrumental in raising over $100bn in capital for funds since inception and are extremely well regarded in the industry. -- Peter Gilman has been appointed as a special advisor to Alpha Growth. Peter is the former CEO and founder of Aegon Extraordinary Markets where he successfully built a business that generated revenues in excess of $2bn. Alpha Growth has enjoyed an extremely strong first half of the year and continues to build upon its three main strategies; the following table outlines these strategies which have all been built around key client trends and market requirements. / Strategy: Separate Managed Accounts As previously announced, the Company's discussions with one of the UK's largest and most prestigious asset managers to secure a short-term credit facility were almost concluded with the addition of direct asset investments by the asset manager, as well as the originally contemplated credit facility. The UK asset manager to date has been working through internal underwriting and structuring issues which have delayed the approval for both the credit facility and direct asset purchase. We were anticipating a late April conclusion however the complexities of creating a framework for future additional investments by the asset manager, along with the challenges presented by Covid, have led to delays. Further announcements will be made in due course and we continue to work closely with them to ensure a successful conclusion. The Company views its exercise with the UK asset manager as time well invested in developing its separate managed account strategy, this has increased the interest and exposure from other significant asset managers that we are now working with to offer a similar strategy to investors for similar asset purchase opportunities and/or credit facilities. Alpha Growth is working with Eaton Partners, a tier 1 capital introducer and part of the global Stifel Financial Group, for introductions relating to separate managed accounts. This will substantially increase our marketing activity for this strategy and management expect that this will lead to significant growth. The Company also continues to progress the Alpha Growth & Income (AGI) strategy, this strategy is a combination of life settlements and life contingent structured settlements hedged by a life insurance policy that is suitable for investors seeking cashflow and growth, funded in either a separate managed account or as a co-mingled fund with a minimum investment of $50 million. It is anticipated that this strategy will be complementary to PLAC's client base and separate managed account investors. Strategy: The BlackOak Alpha Growth Fund Further building upon the impressive growth rate of the BlackOak Alpha Growth Fund in the first quarter, the Fund closed the second quarter with circa $30 million in assets - An increase of $4.5m. This significant increase has been driven by a combination of new investors, as well as additional contributions from existing investors. The 36% growth in net assets during the first 6 months of this year gives validation to this strategy and we expect to see continued strong growth through the remainder of this year and beyond. With the additional contributions, the Fund has now in excess of 81 life settlements with a total face value of over $65 million and continues to add to the well diversified portfolio. The Fund continues to grow its existing network of registered investment advisors who are the primary sources of the contributions. Strategy: Providence Life Assurance Company Ltd. The Directors continue to be pleased with the performance of its investment in Providence Life Assurance Company Ltd (PLAC). The acquisition and onboarding of the Company's Directors, Gobind Sahney and Jason Sutherland, is now complete and we are pleased to announce that the assets of PLAC as of the end of May 2021 totaled $308 million, this represents a significant increase from the previously reported $275 million. As previously announced, we are planning to grow PLAC substantially by the execution of our build and buy strategy. From a buy perspective, we continue to progress our strong pipeline of acquisition opportunities and will look forward to updating the market when appropriate. From a build perspective, we continue to leverage PLAC's existing relationships with fund managers in the alternatives, fixed income, and equities space. We are very pleased to be working with fund managers from prestigious companies such as JP Morgan, Goldman Sachs, Coutts, Golub Capital, etc. We are also pleased to name Peter Gilman as a special advisor to Alpha Growth. He is the founder and former CEO of AEGON's Extraordinary Markets, where he built a successful insurance business that generated annual revenues in excess of $2 billion dollars and contributed over $1 billion of embedded value to AEGON. He also developed various international strategies and HNW businesses that generated several billion dollars of revenue. We are looking forward to working closely with Peter in accelerating the growth of PLAC as well as bringing new strategies to Alpha. Prospectus The Company is working with its legal and accounting advisors to seek to meet the prospectus requirements against the background of an acquisition of an insurance group that has previously presented financial statements in line with Bermuda regulatory requirements but not the IFRS accounting standard which the Company adheres to. This entails liaising with the FCA as well as seeking additional accounting advice and may possibly require some additional updating of the insurance company's accounts. We appreciate the patience of our shareholders whilst we work through these issues. We would like to clarify that the Company's closing of the transaction with the seller of Providence was originally conditional on the FCA approving the Prospectus, along with required Bermuda regulatory approvals. Once the Bermuda regulatory approvals were received, the seller wished to close and in conference with Pello, the Company's broker, the placing was completed as announced. The placing agreement was conditional on the shareholder approval at the Company's annual general meeting to issue new shares, and the Placing Shares were issued on 15 March 2021 as stated in our announcement on 8 March 2021. The issue of the Placing Shares was not specifically conditional on the publication of the Prospectus. Once the FCA approves the Prospectus, the shares will be admitted for trading on the standard list of the London Stock Exchange as previously stated. A further announcement will be made once the Prospectus has been published. Chairman Statement Gobind Sahney, Alpha Growth Executive Chairman, stated, "We have enjoyed another very strong quarter of growth across our business and we are incredibly excited about some of the opportunities that the group has in the second half of this year. Despite Covid naturally delaying some decision making, we have achieved market leading growth and remain extremely confident in the prospects of the group." Gobind continued, "We are very pleased to welcome Peter Gilman as a special advisor to Alpha Growth and look forward to working with him as we accelerate our growth plans. We are also looking forward to working with Eaton Partners as we continue to deliver upon our goal of creating a substantial and fast-growing financial services company." The key focus areas going forward are: -- Increase assets across the group -- Execute our build and buy strategy -- Expand and grow all strategies -- Seek new opportunities to meet client driven demand -- Add specialized skill sets to the team More information will be shared by the Company in due course. |
Posted at 21/3/2021 12:55 by 7kiwi A bit of gold research.It is often said that the gold price is highly correlated to real interest rates. Real interest rates are defined as the nominal interest rate less the rate of inflation. Most commonly the US 10-year treasury inflation protected security (US10YTIP) is used as the benchmark. In this case the inflation rate used is the 10-year breakeven inflation rate. 3-year Time Horizon Since the beginning of 2018, the correlation to the gold price is remarkably strong. Using this relationship, the gold price and the "fair value" based on real interest rates can be plotted. We can see that gold got ahead of itself in the summer of 2020, but now has over-corrected to the downside. 18-year Time Horizon Over the longer term back to the start of 10YTIP data in 2003, the correlation to the 10YTIP is not quite as strong, but R2 is still above 0.8. Note that the peak in 2011 was a particularly significant move above fair value that was not quite matched by the 2020 peak in terms of deviation from fair value. 50-year Time Horizon If we want to go back longer than 2003, we have to create a different measure of the real interest rate. I have used the Fed Fund Rate (FFR) minus the annual change in CPI. I have called this the short-term real interest rate (STRIR). The relationship between the gold price and this measure of real interest rates is not particularly strong. This is mostly because the level of real interest rates is overwhelmed by what has happened to the monetary base. A multi-variate analysis of gold versus the monetary base and STRIR shows a reasonable correlation (R2=0.83), however the gold price can spend years under or over fair value. Note that gold usually rises when the monetary base is rapidly expanding. It is also worth noting the times when STRIR is below -2.75% that are shown in pink on the chart. Most of these periods coincide with periods when gold explodes to prices well above fair value. Note that in the current bull market, we have not yet seen quite such an explosive move to the upside. Perhaps this is because the STRIR has not yet fallen below -2.75%. At 2011 peak, the 10YTIP was hovering around zero and the STRIR was around -3.7% with the monetary base around $2.6trn. Today, the 10YTIP is around -0.58%, the STRIR is -1.6% and the monetary base is around twice as large at $5.2trn. Outlook If we are to predict the future, we need some insight into what is going to happen to the FFR, the monetary base and CPI. The Federal Reserve have been at pains to emphasise that they are not going to raise the FFR for some considerable time. QE is also running at $120bn per month and Congress have just passed another stimulus Bill. There is even a further infrastructure spending bill in the pipeline. So, it is safe to assume that the monetary base is going to keep on expanding. That leaves us with CPI. The latest CPI number show an annual increase of 1.7%. This looks like inflation is subdued; however, the Consumer Price Index is already 2.8% above the trough in May 2020. If it continues to rise in the range of 0.3-0.4% per month, we can expect headline CPI to 3.7-4.1% by the time May 2021's figures are reported in June. Further indications of burgeoning inflation can be seen in the Prices component of the ISM Mfg PMI. The last time the Prices index was at this level back in May 2011, CPI peaked at 3.8% the following September. So, we might expect CPI to rise to 3.5-4% by late-Spring or early-Summer. Commodity prices show a similar picture with the GSCI Total Return Index at the beginning of March up around 70% from its low in late-April 2020. In 2009, we saw annual increases in the GSCI close to 80% and inflation peaked at over 5%. By this measure, we might expect CPI to rise to the 4.5-5% range around May 2021. With three leading indicators pointing to CPI around 4% or more by May or June this year, what does this mean for STRIR? Well, if the Fed sticks to its promise of no rate increases, we can expect the STRIR to fall to about -4% in May or June this year. As we saw above, in earlier years, this level of STRIR has coincided with a big surge in the gold price. A 2-3SD move above the fair value based on the monetary base and STRIR could see gold hit $2,300-2,500. Gold is languishing at the moment and sentiment is very bearish. However, some believe we are close to the end of this correction phase. If the past is anything to go by, the end of this correction should be a harbinger of better times ahead. If the inflation predictions come true, gold may well be on a path to break its all time high again this summer. |
Posted at 06/1/2021 18:24 by mount teide Savannah Energy (SAVE) - Further to earlier postings:It's not often that PI's get an opportunity to build a position in a high cash generating company like SAVE at a discount of up to 80% to the weighted average price of the group of blue chip Institutional Investors that have supported the placings to date. Placings: 01-8-14 = $50m raised at 56p 10-7-15 = $36m at 38p 07-7-16 = $40m at 38p 22-12-17 = $125m at 35p 24-1-19 = $23m at 28p $274m raised at an average of 39.1p In 2021 with potential annual free cash flow of $140m from Nigeria(Finncap Note) some 30% of that could be returned as a dividend. $42m at an exchange rate of £1/$1.35 is about 3.1p/share - 21% yield on the current share price - 10% yield on a share price of 31p or 5% yield on a share price of 62p (excluding any contribution from Niger. AIMHO/DYOR |
Posted at 13/12/2020 18:43 by mount teide Commodity Equities / Margin of Safety - 2020, The once in a 100 year Commodity Sector Entry point!'A colleague, Lucas White, put out another interesting paper on one of the biggest opportunities they see in the market right now – the commodity sector. More specifically, the equities of commodity producers. So what’s the story? The great thing about commodities is that they may be one of the most cyclical markets on the planet, which means they follow predictable patterns. That doesn’t mean they are easy to time (no market is), but it can often be quite obvious when the participants are either overly gloomy or over-excited. Why the cyclicality? I’ve run through this before, but here’s what happens. Commodity producers dig stuff up and sell it. If there isn’t enough stuff, the price goes up. The producers get excited and try to find more so they can sell more. As the producers dig more stuff up, more supply hits the market, and the price goes down. When the price is at rock bottom, half of the producers have gone bust and the rest are too scared to do anything more than dig away at the little holes they’ve already dug. Supply goes down. Prices go up. It takes ages for the scarred producers to react. Prices keep going up. Producers get a glimmer of hope and start exploring again. And thus the cycle begins anew. And most of the time, the clues are in the price. Resources shares haven’t been this cheap in nearly a century Now, among other things, we’ve just seen most commodities fall to where they were at their last major lows – near the start of 2016, which was also a great buying opportunity – and the price of oil collapse to the point where one benchmark actually turned negative. So where are we now? GMO points out that resources stocks tend to trade at a discount to the wider market (judging by the US S&P 500 index) anyway (an average discount of about 28%). So we shouldn’t be fooled into thinking these stocks are cheap just because they look cheap relative to the rest of the market – they usually are. However, by the end of the first quarter of 2020, the discount had widened to “almost 80%” – very cheap indeed. In fact, it hasn’t been seen before, with nearly a century’s worth of data to draw on. In the long run we may have all of our energy needs produced by solar power and all our construction needs produced by solar-powered nano bots converting worthless raw matter into anything they want. But not in the next decade. So pricing the sector for near extinction seems drastic, even for a forward-looking market. As GMO puts it: “the global economy couldn’t function without extractive industries. Furthermore, the world can’t transition from fossil fuels to clean energy without the materials that clean energy relies upon”. What makes these stocks attractive now? Well, we’ve been in a bear market. So producers have grown miserly in terms of their spending. A combination of capital discipline and improving prices for their products would be very good news for share prices. But even if commodity prices don’t rise, the sector looks cheap. As the GMO team says: “resource companies have had a rough go of it in recent years, but at these valuations, investors have a large margin of safety even with very conservative assumptions… we believe this will likely end up being an excellent entry point for long-term investors.” Now that was a month ago, and prices have moved up since then – but only enough to suggest that GMO was onto something. I’d suggest that there’s still plenty of opportunity to get on board. Particularly if inflation really does take off after all this.' Moneyweek |
Posted at 21/9/2020 07:26 by skiboy10 KAV and POW21 September 2020 KAVANGO RESOURCES PLC ("Kavango" or "the Company") Botswana Strategic Joint Venture with Power Metals Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the formation of a Strategic Joint Venture with Power Metal Resources Plc (LSE:POW) ("Power Metals"). The Strategic Joint Venture will see the formation of a new, jointly owned, privately held company that is focussed on large-scale mineral exploration projects in Botswana (the "Strategic Joint Venture"). The Strategic Joint Venture will enable Kavango to inject new liquidity into its wider project portfolio, accelerate its plans for more extensive field exploration of the Kalahari Copper Belt Project (KCB) and focus its resources on target evaluation, followed by drilling, in the northern (Hukuntsi) section of the Kalahari Suture Zone (KSZ). Highlights v Formation of new Botswana focussed exploration company - Jointly-owned and operated by Kavango and Power Metals - Privately held initially, with prospecting licenses covering 2,680km(2) of highly prospective land v Kavango to transfer to the Strategic Joint Venture: - Its two rare earths & copper prospecting licenses that cover the Ditau Project - Two wholly owned copper prospecting licenses PL036/2020 and PL037/2020 on the KCB v Power Metals to pay: - GBP75,000 cash to Kavango - The first $75,000 of exploration expenditure in the Strategic Joint Venture over two consecutive years (totalling $150,000, with additional exploration costs to be pro-rated thereafter) - Up to GBP10,000 to cover costs of incorporating the Strategic Joint Venture v Power Metals to issue: - 6,000,000 shares in Power Metals to Kavango at 1.25p per share - 5,000,000 warrants in Power Metals to Kavango, exercisable at 2p per share with a two-year life & 1 for 1 replacement warrants, exercisable at 5p per share over two years v Kavango to initiate immediately the next phases of field exploration on the two KCB licences and at Ditau v The Strategic Joint Venture will be incorporated to enable a future separate listing, expected to be on a Canadian or British stock exchange. Michael Foster, Chief Executive Officer of Kavango Resources, commented: "We are delighted to confirm our Strategic Joint Venture with Power Metals. Over the course of completing the due diligence for the sale of the interest in our Ditau Project it became clear there was a much greater opportunity for both parties. Thanks to our extensive experience of working in Botswana, Kavango has been able to secure large-scale exploration projects. Each of these holds a great deal of potential, but our primary focus has always been on the KSZ. Now that we have confirmed the Strategic Joint Venture with Power Metals, we can leverage the expertise and energy of the two companies to drive forward our current interests on the KCB. We expect this will lead to a significant acceleration of our exploration efforts across both areas and we look forward to reporting our progress." Background & rationale to the Strategic Joint Venture Further to the announcement on 15 April, when Kavango announced it had entered into a provisional agreement to sell a 51% interest in the Ditau Project to Power Metals, the Company has now entered into a much more comprehensive agreement. Power Metals' due diligence into Ditau was interrupted by the COVID-19 pandemic. However, over recent months it became increasingly clear to the directors of Kavango and Power Metals that there was a more advantageous opportunity for both companies than originally anticipated. Both sets of directors have extensive experience of operating mineral exploration projects in Botswana and the two companies felt they could leverage one another's expertise and energy to great effect. In parallel to this, Kavango has made significant progress over the summer developing its project on the KSZ. The Company is in the final stages of analysis work on the northern (Hukuntsi) section of the KSZ. Given the likely number and scale of these "Norilsk style" targets, Kavango is readying itself to prepare for a drill campaign to test the large regional structures it has identified on the KSZ. With such a large planned operational commitment, the board of Kavango felt the Company would benefit from introducing a new development partner to two licences on the KCB, and at Ditau. Each of these projects holds significant potential for discovery of substantial mineral deposits. Power Metals is an ambitious exploration company that has assembled a portfolio of global exploration interests. It is the ideal partner to work with Kavango's technical team. Kavango welcomes the opportunity to work closely with Power Metals to accelerate exploration across two KCB prospecting licenses and at Ditau. Terms of the Strategic Joint Venture Kavango and Power Metals will own the Strategic Joint Venture equally and will be joint operators. Kavango will transfer into the Strategic Joint Venture: - Its two prospecting licenses that make up the Ditau Project. These licenses cover 1,386km(2) of prospective land for rare earths and copper. The Company has identified 10 carbonatite-like 'ring structures' here that represent sizeable exploration targets. - Its two wholly owned prospecting licenses PL036/2020 and PL037/2020 on the KCB. These licenses cover 1,294km(2) and are highly prospective for copper/silver mineralisation. Power Metals will invest into the Strategic Joint Venture: - The first $75,000 of exploration expenditure over two consecutive years, totalling $150,000. - Up to GBP10,000 in set up costs, to cover the incorporation of the vehicle in line with local regulations and an appropriate holding company structure. Additional exploration expenditure incurred by the Strategic Joint Venture, beyond the initial investment from Power Metals, will be on a pro-rated, "fund or dilute" basis. To complete the transaction, Power Metals will: - Pay GBP75,000 to Kavango - Issue 6,000,000 shares in Power Metals to Kavango, at an issue price of 1.25p per share (the "Acquisition Warrants") - Issue 5,000,000 warrants in Power Metals to Kavango, exercisable over 2 years at an exercise price of 2p per share Should the Power Metals Volume Weighted Average Share Price ("VWAP") meet or exceed a price of 7.5p for five consecutive trading days, Kavango will then have 14 calendar days to exercise the Acquisition Warrants and make payment to Power Metal or the Acquisition Warrants will be cancelled. Should Kavango exercise the Acquisition Warrants within 12 months of issue, they will receive 1 for 1 replacement warrants to subscribe for Power Metal shares, exercisable over an additional two years at an exercise price of 5p per share (the "Super Warrants"). Should the Power Metal Volume Weighted Average Share Price ("VWAP") meet or exceed a price of 10.0p for five consecutive trading days Kavango will then have 14 calendar days to exercise the Super Warrants and make payment to Power Metal or the Super Warrants will be cancelled. Plan for the Strategic Joint Venture The vision for the Strategic Joint Venture is to create a Botswana-focussed minerals exploration company, which will ultimately seek a separate listing on either a Canadian or British stock exchange. The immediate aim for this new company will be to make rapid progress in the field, across its portfolio of large-scale exploration projects. The new company may also seek to acquire additional prospecting licenses, building on the good standing its directors have in Botswana Kavango will immediately initiate the next phases of field exploration at its KCB prospecting licenses and at Ditau. Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources For further information please contact: Kavango Resources plc Michael Foster mfoster@kavangoresou |
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