George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Https://getech.com/news/getech-partners-with-red-engineering-to-drive-decarbonisation-solutions/
12/3/2024
09:56 Having announced a further $1.3m contract this morning here is NARF's broker comment from the sales desk:
• Have announced a $1.3m contract with the US Government's Intelligence Advanced Research Projects Agency (‘IARPA’). No duration given but could be over multiple years
• Together with the $1.6m omnibus orders reported a couple of weeks ago this is helpful in building visibility on our $8m sales forecast for this year
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The proceeds of the Disposal are expected to both reduce the Group's liabilities by approximately £2.6 million and contribute an exceptional profit of no less than £2.0 million, in FY24.
As well as satisfying Petrel's statutory liability to the Chamberlin DB Pension Scheme, the net proceeds of the Disposal will also be used to pay £0.65 million to HSBC to reduce the Group's debt (namely its asset finance loan and invoice finance facility) and release certain charges over the shares and assets of Petrel, with the balance of the net proceeds, assuming the deferred consideration is paid in full, of approximately £1.1 million being applied to the Group's growth strategy and working capital. The Chamberlin DB Pension Scheme deficit has been reduced from £5.5 million in March 2019 to approximately £0.4 million following completion of the Disposal with the deficit recovery plan reduced from 13 years to 4 years.