Metalnrg Share Discussion Threads

[excellance] 20/1/2022 18:35

To whom it may concern.

Public Announcement in Relation to Recent MetalNRG PLC RNS and Align Research Note

The board of BritNRG Limited (BritNRG) would like to clarify a number of incorrect and misleading statements contained in the recent Align research coverage initiated and published on Tuesday 18 January 2022 by MetalNRG PLC (MNRG).

MNRG has never ‘owned’ 50% of BritNRG due to their failure to provide adequate and timely funding as required by the contractual agreements between MNRG PLC, BritNRG, and BritENERGY Holdings LLP.

The assertion that our director and CEO, in respect to his status as a ‘person of significant control’ of BritEnergy Holdings LLP, gives cause to voiding the commercial transactions of April 2021 (not April 2020 as mis-stated in the Align research note), in which MNRG acquired 190 shares in BritNRG and an option for further 150 shares (to be exercised upon listing of the company), is entirely fabricated and appears to be malicious in intent. Such transactions were solicited by MNRG management, were negotiated by the MNRG CEO and executed by the Chairman and CEO of MNRG. Accordingly, MNRG paid the agreed consideration to BritENERGY Holdings LLP. MNRG management now refuses to take legal ownership of the shares, despite the evidence and the payments, in what we reasonably believe to be an attempt to maintain their baseless threats of claims against our CEO and associates.

The statement that MNRG invested £1.2m in BritNRG, being somehow the metric for the sum-of-the-parts MNRG valuation for recommendation purposes, is a fabrication and in our view should not be relied upon. For clarity, BritNRG was not in receipt of these funds and MNRG failed to meet their financing obligations under the contractual agreement as referred above.

The statement that MNRG has “embarked upon legal proceedings” is also false. To our knowledge, no proceedings have been raised to date by MNRG against our CEO, BritNRG, or BritENERGY Holdings LLP. Our view is that MNRG has no good legal claims to make in any such (alleged) proceedings. We should however note that there is an action lodged in the courts in relation to this dispute, in which MNRG is currently the defendant. This is not disclosed in the Align research note.

In summary, the continued distortion of facts, evidently for some commercial or market perception purposes, are or will likely be the subject of a number of actions against MNRG who, for clarity, currently hold no equity interest in BritNRG Limited due to a number of failings and choices by, and only by, the current management of MNRG.

The Board of Directors
For and on behalf of BritNRG Limited

[excellance] 20/1/2022 11:03

Rolf tweeting like Trump, but tweets, interviews and paid "research" notes don't change the fact that MNRG is a dog's dinner of a company.

[excellance] 18/1/2022 21:45

Rolf interview on twitter via LSE.

He says bla bla bla expression of interest in gold ridge from people interested in working with us, but early days.

Oh and he responded to twitter criticism that our oil and uranium are pure green.

[excellance] 18/1/2022 13:42

Rolf always said BritNRG was a stepping stone, a route to medium term return.

Selling BritNRG would deliver exactly what he promised, and give us considerable cash.

Keeping a 25% interest in an oil company doesn't fit with our green credentials, so keeping an interest and earning potential dividends isn't really an option, unless we can offset the carbon footprint with carbon credits from our green projects. Maybe that is possible?

[excellance] 18/1/2022 13:34

Yep, I agree with all of that.

Get rid of the BritNRG interest for a few million quid, and redirect some of that cash towards gold ridge and possibly another EQT project.

The IRC 10% interest is still on ice until it isn't, so no need to worry about that.

I expect the gold project will be sold or spun off, with a EUA 2.0 link being a real possibility.

[block4gooner] 18/1/2022 09:00

Conclusion There are plenty of good reasons to invest in MetalNRG. We believe the shares are very lowly priced and so all the opportunity looks to be pretty well on the upside. The company is involved in two very interesting metals along with green energy. The board seem to be masters of getting deals financed and looking at sectors where there are good business drivers for value creation. Gold looks extremely interesting in the coming years with mounting inflationary pressures, with the uranium price just beginning to show its spurs after a decade in the doldrums. Meanwhile, green energy is seeing a lot of money coming into the sector and all the leading technology seems to be in Europe, which is ahead of the game. MetalNRG's road to obvious value creation looks likely to be paved with a series of announcements. Lots of activity means lots of news, so there is no doubt that an impressive news flow is on the cards. Over the coming months it is expected that the company will be able to advise the market on growing potential for Gold Ridge with news on the results of the geochemical sampling programme and the next steps as the project heads towards the identification of drilling targets and drilling. At the same time, news could erupt any time from Kyrgyzstan, but is dependent on the government action concerning the reinstatement of the mining licences which were suspended by the previous government. The developing story here seems to be that the new government has a greener agenda and sees this project as environmental clean-up of farmland allowing the land to be rehabilitated. All of which ought to see a reappraisal of IMC in light of its rapidly changing fortunes. Further announcements are expected on progress at the EQTEC Italia development which is expected to come on stream this year with the prospect of the first dividend being received by the company in early 2023. This is expected to be followed by MetalNRG outlining its planned involvement in further EQTEC projects across Europe. A resolution of the BritNRG issues would reduce uncertainties and potentially also free up capital to accelerate the move into green energy which is likely to be well received by investors. We look forward to being given the chance to update our valuation going forward as more flesh gets put on the bones of the company's out and out growth structure. We initiate coverage of MetalNRG with a Speculative Buy stance and a share price target of 1.2p.

[block4gooner] 18/1/2022 07:34

Nice to see the possible valuation coming out at 1.2pBeen there before and CAN return with a fair wind

[excellance] 17/1/2022 13:49

This is gonna move up again soon

[cerrosdelaguila] 15/1/2022 14:08

Hopefully Mr 51000 shares will be in profit next week .

[excellance] 14/1/2022 16:03

Heating up now!

[excellance] 14/1/2022 14:59

look at us go...

[kennyruss] 14/1/2022 13:04

Even better today!

[excellance] 12/1/2022 15:41

Looking better today.

[excellance] 11/1/2022 23:51

I've put the EQT interview in the header.

Some interesting points raised, such as carbon credits, and MNRG focus going forward. Where does this leave BritNRG and can MNRG retain green credentials with a 25% interest in an oil company?
Same with gold ridge?

Do we need to have oil infrastructure accreditation to build EQT facilities?

What a dog's dinner of a company under Rolf's tenure. I hope he sorts it out.

[cerrosdelaguila] 11/1/2022 15:10

In the stock box interview you posted 5 days ago, the CEO implies that the November troubles will be sensibly put to bed around table discussions As though they are not of a serious nature .

[excellance] 11/1/2022 13:48

Why did David do this interview?

Does he really see MNRG as a valid infrastructure developer?

MNRG are basically a one man band, using contractors, buying interests in other companies, and printing shares like confetti to raise funds.

I'm fairly sure Rolf will by trying to find funds from somewhere very soon, but at what price could he place shares with this BritNRG fiasco hanging over us?

[excellance] 11/1/2022 12:15

So no cash from Italy until 2023, and MNRG have no cash to fund anything more on the EQT front or anywhere else.

What is our cash position now?

[kennyruss] 11/1/2022 11:50

Interview with Rolf Gerritsend & David Palumbo of Eqtec

Pipeline of Green Energy projects in 2022

[excellance] 10/1/2022 16:35

This is looking like the worst investment that I've made in years. Thankfully modest at 0.43p I doubled down at 0.23p to see it bounce a little, but Rolf has done very little to give me optimism.

My holding is still modest compared to my other holdings, and who knows maybe it'll be a star performer, but I'm not happy.

Come on Gold Ridge.

[excellance] 07/1/2022 17:37

Market cap is just £3m

My guess is that the EQT deal accounts for half of that valuation.

The uranium assets are effectively worthless until there is policy change in country.

Lake Victoria Gold 3.4% holding is also effectively worthless.

The BritNRG holding is looking very valuable, but the dispute exposes us to unknown liability, so we just don't know where that leaves us.

Obviously the Gold Ridge project is still very much our primary asset and flagship project, and that must be worth three times our mkt cap by itself in its current state.

Let's get this BritNRG fiasco put behind us and move on...

I can't help thinking that the dispute is over a bill that MNRG as parent were expected to pay, but either can't pay or don't want to pay, so Rolf is clutching at straws to get out of the arrangement and avoid the liability. The dispute means that nobody pays the bill until the situation is resolved, and maybe that's the goal here, to drag payment of the bill out as long as possible to a point where it is affordable...I wonder how big this exposure is and why Rolf didn't give us that crucial information??

Anyway, at £3m mkt cap (or 0.27p) we really don't want more dilution for any reason.

A big bill could kill this company, but a good deal will see a multiple return.

[excellance] 06/1/2022 18:48

Nice to hear from Mr Rocco about developments at Whisby, and hashtagging MNRG in to his tweet.

Obviously Mr Rocco isn't under the same limitations as a listed company director is, but I like his tweets.

No idea how BritNRG success can be monetised to benefit MNRG, but hopefully they'll buy our minority interest.