Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Robin Young, CEO of Amur, commented: "The shareholders have voted against the offer for the Kun-Manie Project from Stanmix Holding Limited for US$105 million in aggregate. The total consideration offered was a significant premium to the Company's most recent and current market capitalisation and in line with an independent valuation report commissioned by the Board. As such, it was appropriate for the Board to call the General Meeting to provide the shareholders with an opportunity to consider the resolution given the current geopolitical setting related to the Russian Federation. Going forward, Amur will endeavour to advance the Project per the terms of its Detailed Exploration and Mining License as well as continue discussions with interested and qualifying parties."
Hi Chris, there is only one resolution to vote on. It can be found on page 12 of the circular below
https://amurminerals.com/content/wp-content/uploads/Kun-Manie-Circular-May-2022.pdf
$15m now - to acquire asset
$10m in a year - to pay a dividend, this also has to keep the company going for 3 years
$50m in year 4 - to pay a dividend & ???
In the Proactive interview Robin said they have leads on assets near, or in, production. I doubt a good asset will be available for just $15m cash. Who knows how many shares will be in issue by the time the $50m drops. There again we may have a cash generating asset by then.....
https://amurminerals.com/content/wp-content/uploads/Kun-Manie-Circular-May-2022.pdf
https://www.londonstockexchange.com/news-article/market-news/issue-of-director-shares/15316432
Issue of Director Shares
Tectonic Gold plc (TDIM: TTAU), notes that pursuant to their letters of engagement, each of the directors of the company are eligible to receive director fees of £20,000 each per annum, however such fees have not been paid for the prior two year period. The directors have elected to receive these fees in the form of shares for the period 30 June 2019 to 30 June 2021.
The share price to be used for the calculation is a 20-day VWAP over the 20 trading days immediately following publication of the Company’s Annual Accounts as released on 21 December 2021. In this case the share price used based on the above formula was 1.2155 pence per share following the release of the Company’s Annual Accounts.
The award of director shares for the 2020 and 2021 year is set out below:
Bruce Fulton 3,290,827 shares
Brett Boynton 3,290,827 shares
Sam Quinn 2,540,250 shares
Dennis Edmonds 1,399,803 shares....
Drill warrant extension AND PROJECT PLAN
Tectonic Gold plc (TDIM: TTAU), is pleased to announce that discussions with potential development partners in respect of the Company’s licenses are progressing, notwithstanding delays caused by government-imposed interstate travel restrictions in Australia due to the pandemic. To avoid the February 2022, 1.4p warrant holders being prejudiced by project delays, the Company has decided to extend the warrant exercise date to 1 July 2022.
The recent drilling campaign completed 75% of the planned program but was cut short due to weather. We were able to extract enough data with confirmed gold intersections to advance the geological modelling. In discussions with potential partners, we have been requested to prepare the following:
Summary works report
Updated geological model
Analysis and proposed progress plan
Independent opinion on proposed plan
Costings and implementation for a 2022 and 2023 roll-out
Presentation with transaction options to farm in / fund the proposed plan
We are working methodically through this but will not be able to complete and present the above before year end due to the limited availability of experts needed for the modelling and review over the holidays. As a result, it is unlikely that we can finalise a negotiation by February.
The Company is fully funded to return to the field and complete the final drilling, if required, so there is no immediate need for the £1.17 million in capital exercising the warrants could bring. To avoid warrant holders feeling pressure to sell shares to fund warrants it makes sense to delay this until 1 July 2022.
There are no other changes to the terms of the Warrants.
https://amurminerals.com/content/wp-content/uploads/20211112-Notice-of-AGM.pdf