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Martin C Holland
@MartinCHolland1
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CBE very pleasing to see this result with a new significant Cu discovery. 1km spacing holes - with 2nd diamond hole already in progress. Transformational for CBE shareholders.
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Castel plans to multiply the production of Guinness products in Cameroon by investing 120 billion FCFA

Business in Cameroon) - As soon as the competition authorities validate the deal concluded between the Castel and Diageo groups, with a view to acquiring Guinness Cameroon, the leader in the brewing market in the country plans to launch a program to set up four new production lines, to realize the potential of Guinness products in Cameroon. It is also planned to invest an envelope of 4 billion FCFA to enable the production of 40 million additional bottles by the Société camerounaise de verrerie (Socaver), a local subsidiary of the Castel group, which already supplies several brewing companies in Cameroon and the stranger.

Sources close to the transaction carried out between the two brewing groups, these are the main variations of the investment plan for a total amount of 120 billion FCFA over 4 years, which accompanies the sale of Guinness Cameroon to the group. Castel, for an amount officially estimated at 300 billion FCFA

According to the same sources, the production lines announced will be assembled in the factories of SABC (local subsidiary of Castel) in Yaoundé, the capital, Douala (Ndokoti), the economic capital, Garoua and Bafoussam, two other cities among the most important in the country. It can be observed that the four sites chosen for the assembly of production lines for Guinness products are also the main production and distribution centers of the SABC.

On observation, this strategy should allow Guinness Cameroon "? to unleash its potential even more ?" and consolidate its leading position in the dark beer segment, as indicated by Dayalan Nayager, president of Diageo Africa, the Africa branch. of Guinness Cameroon's parent company. Indeed, for this senior Diageo official, “? given the strong performance of Guinness, its needs exceed the capacities of its current brewery in Douala ?”.

Indeed, we learn from sources inside the company, while the demand for Guinness products is constantly growing in the country, Guinness Cameroon has so far only produced 1.4 million hectoliters of beverages per year, compared to 10 million hectoliters for the SABC
more.......
https://t.co/KFiQLYPmHO

Perenco now in pole position for the purchase of New Age's assets on the Etinde oil and gas block in Cameroon

(Invest in Cameroon) - The 30-day period given to the British Bowleven and the Russian Lukoil by New Age, to exercise their right of pre-emption as part of the process of sale to a subsidiary of Perenco of all its assets on the Etinde license in Cameroon, expired on July 9, 2022. The information is revealed by an official statement from Bowleven.

« Neither Lukoil nor Bowleven exercised their right of pre-emption over New Age's interests ", which enjoys the status of operator of this oil and gas licence covering an area of 2 316 km2 in the South-West region of Cameroon. However, before the conclusion of the final deal with Perenco, which now has free rein thanks to the non-exercise of the right of pre-emption by Lukoil and Bowleven, certain conditions still have to be met.

« A number of conditions for Perenco's acquisition of New Age's stake in Etinde's license remain pending, including customary regulatory approvals by the Cameroonian government, approval of competition, and confirmation of exclusive operating authorization (EEE) through a letter issued by the Minister (of Mines). Bowleven explains.

According to Eli Chahin, Managing Director of Bowleven Plc, the looming change of partner "is a key development to accelerate the process of making the final investment decision within the joint venture set up as part of the Etinde project, which will then be led by a high-calibre international operator, with strong and long-standing roots in the Cameroonian ecosystem". Indeed, Perenco is a well-known operator in Cameroon, where it already holds significant assets in the oil and gas sector.
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However, the Etinde project is also of interest to Victoria Oil & Gas (VOG), the parent company of Gaz du Cameroun (GDC), which has set up the country's first natural gas processing unit, on the outskirts of Cameroon's economic capital. Indeed, on February 5, 2020, VOG signed a "non-binding letter of intent" with the project leaders, to source natural gas from the Etinde field, which could well become on the 3rde operational gas field in Cameroon, after Kribi (South) and Logbaba (Littoral).
https://www.investiraucameroun.com/energie/0807-18170-perenco-desormais-en-pole-position-pour-le-rachat-des-actifs-de-new-age-sur-le-bloc-petro-gazier-etinde-au-cameroun

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Metal Tiger plc (MTR)
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Tuesday 21 June, 2022
Metal Tiger plc
Sandfire Shareholding Update and Margin Lending Facility
Sandfire Shareholding Update and Margin Lending Facility

Metal Tiger plc

21 June 2022

Metal Tiger plc

(“Metal Tiger” or the “Company”)

Sandfire Shareholding Update and Margin Lending Facility

Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, announces that further to its announcement on 5 October 2021 and 17 January 2022, Metal Tiger has disposed of, in aggregate, 445,000 shares in Sandfire Resources Limited (“Sandfire”) (“Sandfire Shares”) at an average price of A$5.25 per Sandfire Share.

Following these disposals, Metal Tiger is interested in 7,367,057 Sandfire Shares representing approximately 1.8% of Sandfire’s issued share capital. As previously announced, 2,842,667 of the Sandfire Shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank.

Metal Tiger will use the partial proceeds of these sales on settlement to pre-pay A$1,540,000 against the outstanding loan principal of A$9m owed to a nominee of SC Lowry Primary Investments Ltd (the “Margin Lending Facility”), reducing the principal amounts owed by the Company in respect of the Margin Lending Facility to A$7,460,000 (excluding interest accrued).

For the year ended 30 June 2021, Sandfire reported net profit of A$170,082,000. As at, 30 June 2021, Sandfire reported net assets of A$910,576,000.

Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:

“In light of prevailing market conditions, we have taken appropriate measures to reduce our risk exposure as it relates to the loan which we believe is in the best interest of the Company and stakeholders.”

For the year ended 30 June 2021, Sandfire reported net profit of A$170,082,000. As at, 30 June 2021, Sandfire reported net assets of A$910,576,000.

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

https://www.investegate.co.uk/metal-tiger-plc--mtr-/bus/sandfire-shareholding-update-and-margin-lending-facility/20220621124300Z4900/

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