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Funding of 88.8 billion FCFA to finalize the rehabilitation works of the eastern penetrating Douala

(Business in Cameroon) - The Cameroonian Head of State, Paul Biya, has just empowered the Minister of the Economy, Alamine Ousmane Mey, to sign on behalf of Cameroon, a credit agreement in the amount of 88 , 8 billion FCFA, with Standard Chartered Bank London and UK Export Finance (Ukef).

This funding, specifies the presidential decree made public for this purpose, will be used for the realization of phase 2 of the rehabilitation project of the penetrating east of the city of Douala. These works consist in the continuation of the widening of the roadway at the entrance of the Cameroonian economic capital, with the consequence of the fluidization of the circulation for the passengers leaving from Yaoundé, the capital, or from Edéa and Kribi.

In addition to also providing service to the brand new Japoma stadium, the penetrating east of Douala is a link in the Douala-Ndjamena and Douala-Bangui corridors, through which CFAF 340 and 55 billion respectively of Chadian and Central African goods transit each year, according to Cameroonian customs.

https://www.investiraucameroun.com/travaux-publics/1802-15986-un-financement-de-88-8-milliards-de-fcfa-pour-finaliser-les-travaux-de-rehabilitation-de-la-penetrante-est-de-douala

Marimaca Copper Identifies Large Surface Geochemical Anomaly at Cindy Target

GlobeNewswire 13 minutes ago

VANCOUVER, British Columbia, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Marimaca Copper Corp. (“Marimaca Copper” or the “Company”) (TSX: MARI) is pleased to announce the results of a recently completed rock geochemistry and reconnaissance mapping program at the Cindy Target, which is located 5km to the north of the Company’s flagship Marimaca Copper Project .

Highlights

Geochemical sampling has identified a very large copper anomaly with grades as high as 2.9% Cu
° Greater than 200ppm Cu anomaly extending over 1km of strike, several ore grade samples noted
° Coincident with historical underground artisanal workings exploiting high grade magnetite-chalcopyrite mineralization
° A significant proportion of the Cindy Target is concealed by post mineral gravels, similar to the Mercedes Target
• The geochemical anomaly is potentially larger than the footprint indicates
Underground sampling provided valuable information regarding mineralizing structures and depth of oxidation
° Indicates potential for broad zones of oxide mineralization above the level of the underground workings
Geochemical anomaly has the same host rocks and controlling structures as observed at the Marimaca Oxide Deposit (“MOD”)
° The Naguayán Fault System, the key controlling fault at the MOD, crosses the Cindy Target
IP surveys completed for Mercedes and Cindy Targets, results pending

Sergio Rivera, VP Exploration of Marimaca Copper, commented:

“Following the success of our geochemical sampling program at Mercedes, which identified a large anomaly for follow-up work, we have completed a similar program for the Cindy Target.

“Once again, the results showed a large-scale surface geochemical anomaly, which is coincident with both the Cindy/Llanos magnetic anomaly, identified through previous surveys, and with historical, high grade, underground artisanal workings which mined magnetite-chalcopyrite mineralization

https://stockhouse.com/news/press-releases/2021/02/17/marimaca-copper-identifies-large-surface-geochemical-anomaly-at-cindy-target

15 February 2021

Metal Tiger Plc

("Metal Tiger" or the "Company")

Investment in Millennial Silver Corp.

Metal Tiger plc (AIM:MTR), the London Stock Exchange AIM listed investor in natural resource opportunities, is pleased to announce that it has subscribed for 300,000 shares in Millennial Silver Corp. (“Millennial”), at a price of C$0.50 per share, for a total investment of C$150,000 (approximately £85,200), as part of Millennial’s C$24 million equity financing in connection with the proposed business combination with 1246768 B.C. LTD (“768”) to form Millennial Precious Metals Corp., which was announced as having closed on 11 February 2021 (the “Fundraise”).

Further details can be found at the following link:

https://millennialpreciousmetals.com/wp-content/uploads/2021/02/768-Financial-PR.pdf

Millennial is an acquisition company that will be looking to complete a series of transactions (collectively, the “Transactions”) among 768, Millennial and Clover Nevada LLC that will, among other things, result in 768 (to be named “Millennial Precious Metals Corp.”) indirectly acquiring Clover Nevada LLC’s interest in each of the Wildcat Property, the Mountain View Property, the Marr Property, the Ocelot Property, the Eden Property and the Dune Property located in Nevada and a lease and option to purchase the Red Canyon Property also located in Nevada. The Transactions are conditional on the TSX Venture Exchange approving the listing of the post-consolidation common shares of 768 (the “Resulting Issuer Shares”), and other customary conditions.

768 is a shell company, incorporated on 8 April 2020, which reported a loss for the period to 31 December 2020 of C$55,479. For further information in relation to the Transactions, shareholders should refer to the following presentation: https://millennialpreciousmetals.com/wp-content/uploads/2021/01/MPM-Corporate-Deck-January-2021-Financing-Launch-vf.pdf

For further information on the Company, visit: www.metaltigerplc.com:

https://www.lse.co.uk/rns/MTR/investment-in-millennial-silver-corp-dln9rb1ep5ayi2x.html

Sable Initiates Drilling at El Fierro Project

Sable Resources Ltd. V.SAE
Canada NewsWire 22 minutes ago

VANCOUVER, BC, Feb. 9, 2021 /CNW/ - Sable Resources Ltd. ("Sable" or the "Company") (TSXV: SAE) (OTCQB: SBLRF) is pleased to announce that it has started its drilling campaign at El Fierro Project in San Juan, Argentina . El Fierro is a historical artisanal silver-rich polymetallic vein mining district located 250 km northwest of San Juan city and 120 km from Sable's Don Julio Project. Sable will be the first company to drill the project.

"We are very excited to be the first company to drill such a high-quality asset as El Fierro, and to start our program on time and within budget. We are looking forward to seeing the core come out of the ground and to start confirming the three-dimensional footprint of high grade zones," stated Ruben Padilla , President and CEO, who added, "Mapping, prospecting, and geophysics continues to advance at the property and we will provide updates on results when available over the coming weeks."

The El Fierro drill program will consist of a first phase of 3,000m , in 21 planned drill holes across three target areas – Fierro Bajo , Fierro Alto and La Verde. Sable plans to expand the program a further 2,000m for a total of 5,000m based on results from the first phase and following the incorporation of pending surface samples geochemical analysis from soils, outcrops, and new trenching. The drill program will test grade continuity and vein thickness at depth and along strike extensions of the high grade vein targets at the three known mineralized zones of the project which combined represent over 5.5 km of outcropping and sub-cropping veins within an area of 8 x 4 km.

The first area to be tested will be Fierro Bajo with 10 shallow holes ( 1,400m ) targeting four mineralized structures between 50 to 100m downdip (see Figure 1). Fierro Bajo consists of at least four silver-rich veins that returned values of up to 17,531 g/t AgEq (12,181 g/t Ag; 5.67% Pb; 1.6% Cu; and 0.2%Zn Grab Sample).

At Fierro Alto, six drill holes (totalling 900m ) are planned to test the main structures (F and G veins) over a strike length of 600m at depths between 50 and 100m downdip (see Figure 2). Structures at Fierro Alto returned values as high as 1,946.50 g/t AgEq (1,070 g/t Ag; 20% Pb; 0.38 g/t Au; 1.003% Zn; and 1.33% Cu. 0.25m Channel Sample).

Finally, at La Verde the Company will drill seven short holes (totalling 700m ) testing the mineralization to 50m depth on the three veins that are currently known (see Figure 3). La Verde samples have returned some of the highest grades within the project, with values up to 2.582 g/t AgEq (784g/t Ag; 16.7 g/t Au; 3.42% Pb; 0.3% Zn; and 0.3% Cu. Grab Sample).

https://stockhouse.com/news/press-releases/2021/02/09/sable-initiates-drilling-at-el-fierro-project

0 .26 Up 0.02 | 8.33% <><> MTR in @ 0.15 +warrants 0.20

(Business in Cameroon) - On February 8, 2021, districts of Yaoundé, the Cameroonian capital, were again briefly plunged into darkness. Although it recalls the ordeal that some populations of the capital have been going through since the end of January 2021, this brief interruption in the distribution of electrical energy was the result either of minor incidents on the network, or of scheduled work on the distribution network, we learn from good sources.

Nothing to do with the ordeal experienced by the populations connected to the southern interconnected network (RIS, Center, South, Littoral, West, South-West and North-West), on January 25 and 28, 2021. Indeed, during these two days, we learn from good sources, Cameroon experienced two collapses of its electricity network, due to events on the transport network, in particular on the Songloulou-Logbaba and Songloulou-Mangombe lines. These incidents caused major disruptions in the distribution of electricity throughout the RIS.

"? The origin of these incidents has still not been identified by the teams of the transmission system operator," reveals an authorized source, who confides that following the network collapse of January 25, 2021, a meeting was summoned urgently on January 27, 2021, by the Minister of Water and Energy, Gaston Eloundou Essomba. "? But the next day, a new major incident occurred on the same lines,? " continues the same source.

These repeated incidents reveal the level of fragility of the electricity transmission network in Cameroon, the maintenance of which is questionable and could cause many damages to electricity consumers in the days to come, confesses an internal source at the National company for the transport of electricity (Sonatrel).

As a reminder, created in 2015, Sonatrel, a company 100% controlled by the Cameroonian State, has been managing the electricity transmission network in the country since 2018. This State company inherited dilapidated installations, which make officially lose at least 6.5% of national electricity production. According to World Bank estimates, the financing needs for the improvement works of the electric energy transport network in Cameroon are estimated at around CFAF 850 ??billion.

https://www.investiraucameroun.com/energie/0902-15945-en-fin-janvier-2021-le-cameroun-a-connu-deux-effondrements-du-reseau-de-transport-provoquant-des-coupures-d-electricite

Energy
ENEO posts XAF155 bln of debt to
Independent power producers and fuel
suppliers at end-2019

In its recently published 2019 annual
report, Eneo indicates that during
the 2019 financial year, it experienced an «unprecedented deterioration of its financial situation.”
These financial difficulties resulted in
the accumulation of its debts owed
to the independent power producers
it is partnered with as well as companies that supply fuel for thermal
power plants. According to official
information, the overall debt to the
suppliers, at the end of 2019, was
XAF155 billion. Let’s note that because of the supplier debts, Eneo was
sued by state-owned oil distributor
Tradex, which was claiming about
XAF52.7 billion of unpaid debts.
Eneo explains that in 2019, its financial problems were mainly caused
by the non-payment of bills owed
by some large clients, including the
state and its agencies.
Officially, the volume of debts owed
by these large clients was over
XAF180 billion on December 31,
2019. It includes XAF63 billion owed
by the state and its agencies. But, in
2020, the company’s financial situation improved substantially.
Indeed, during an interview with
Business In Cameroon, Eric Mansuy
(Eneo’s MD) revealed that in June
2020, the government paid over
XAF45 billion to partially settled its
debts to ENEO. That amount “helped
launch the restoration of trust in the
sector, as the sums thus raised were
used to clear part of the debts owed by
major players in the sectors (Sonara,
Globeleq Cameroon, SonatreL, EDC,
etc.) (…) Also, other operators have
agreed to negotiate moratoria or new
schedules for the settlement of their
debts,» he added.
According to the executive, thanks
to the funds released by the government, Eneo was not only able to pay
its suppliers, but it was also able to
calmly plan a XAF100 billion bank
loan to settle its medium-term debt
and fund additional investments.
Authorized in early 2020 by the board
of directors, this fundraising operation has surely been carried out but
the results are not yet available.
From Business in Cameroon

Contributions, reimbursement, allocation of funds ...: details of the bank loan of 100 billion FCFA from Eneo

(Business in Cameroon) - The company Eneo, concessionaire of the public electricity service in Cameroon, formalized, on February 3, 2021, its loan agreement in the amount of CFAF 100 billion with eight local banks. Co-arranged by the Cameroonian subsidiaries of Citibank and Société Générale, this bank loan had been approved by the Board of Directors of this company since January 2020.

Although eight local banks took part in this fundraising operation, five of them stood out in particular, providing 81% of the overall budget sought by this electricity production and distribution company, including the capital is controlled by the British investment fund Actis.

First contributor to this fundraising operation, BGFI Cameroon has injected 23 billion FCFA into it. The local subsidiary of the Gabonese group is followed by Societe Generale Cameroon, with a contribution of 20 billion FCFA. Next come Afriland First Bank with 15 billion FCFA, Citibank (12 billion FCFA) and Ecobank Cameroon (11 billion FCFA).

Three other banks have mobilized FCFA 19 billion. These are Bicec, a subsidiary of the Moroccan Banque Populaire and the Cameroonian CBC who each bet 7 billion FCFA in the operation; then SCB, a local subsidiary of the Moroccan Attijariwafa Bank, which contributed FCFA 5 billion to this loan.

Good sources, initial conditions of operation provided for a repayment period of 5 years, on a quarterly basis as of 12 th month. The interest rate payable by Eneo is 6.5%. The envelope mobilized will support Eneo's investment projects to the tune of CFAF 65.5 billion. 21.1 billion FCFA will go to repay the balance of a medium-term loan contracted by Eneo. The remainder will be used to finance various cash flow needs, as well as the costs inherent in the fundraising operation (approximately one billion FCFA).
more ....
https://www.investiraucameroun.com/energie/0302-15918-contributions-remboursement-allocation-des-fonds-les-details-du-pret-bancaire-de-100-milliards-de-fcfa-d-eneo

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