Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
All of the equipment necessary for the re-frac operation has arrived onsite with the exception of the coiled tubing unit (CTU) which has been delayed by monsoon season related rain. The CTU is expected to arrive onsite tomorrow after which the initial stage of the re-fraccing operation, perforating the zones to be hydraulically fractured, will commence.
The actual fraccing operation is anticipated to last 7 days and will be followed by flow-back and testing. We currently expect to be able to announce the results of the re-frac operation in August 2022.
SAE is delighted to announce that it has successfully secured a Contract for Difference (CfD) in the latest allocation round, for the world leading MeyGen site. The CfD, which guarantees £178.54 (£/MWh), for 15 years, will allow SAE to deliver 28MW of clean, home-sourced, predictable power at its MeyGen site in Scotland.
The site is already the largest tidal project in the world and will establish it as the global home of tidal energy. This milestone has been achieved thanks to the huge support of the SAE shareholders, stakeholders, and project partners.
SAE will work to achieve financial close for this next phase of the project by 2024 with the operation starting in 2027.
Graham Reid, CEO of SAE, commented:
"The significance of today's announcement cannot be downplayed. We are going to be delivering the world's first commercial scale tidal array and we now have a clear runaway, with future CfD rounds, to deliver the full c400MW of tidal power generation at MeyGen. I can't thank enough all those who have championed, supported, and invested in our business to achieve this milestone. Our absolute focus will be on the delivery of this project."
Hopefully it works
https://embeds.audioboom.com/posts/8115174/embed/v4
Details of the Agreement
Under the terms of the Agreement, the parties have agreed a target revenue figure over the 5 years of the contract, of which MOS's share is approximately USD 14.5 million. This net figure is the estimated revenue MOS will receive after any rev-share payments have been made. The Agreement also requires MOS to make an initial cash payment to Pumas, which is well covered by the Group's existing cash and cash equivalents of £1.8m, and if certain revenue targets in a year are met then a minimum revenue guarantee would exist for the next year. However, in the context of the revenue that MOS would receive for this to be activated, the Board considers these would be modest and achievable from within the next year's revenue that MOS expects to receive from the contract. The Board further believes that, noting the expected recurring nature of NFT revenues, it estimates that its maximum net exposure, under all but the most extreme worst case commercial assumptions, including the upfront cash fee, would be approximately USD310,000 over the first 3 years of the Agreement. The Agreement contains a 3 year break clause and standard terms for termination.
Ing. Leopoldo Silva, President of Pumas, said:
"We are delighted to be partnering with Mobile Streams for our NFTs. Through this contract Pumas are excited be able to develop and deliver a new generation of digital products and merchandise to our fans. We look forward to a long and successful partnership."
Mark Epstein, CEO Mobile Streams plc, said:
"We are extremely proud to have signed this contract with Pumas. This contract win with a major sports brand demonstrates the progress made by the business. We are now very well positioned within this space and look forward to growing our presence in the Web 3.0 content, digital merchandise and NFT space."
KEFI (AIM: KEFI), the gold and copper exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, notes recent local press reports inaccurately referring to a loss of the Company's Tula Kapi licence.
The Company received a Reminder of Deadline letter late on 24 June from the Minister of Mines referring to a new deadline of 30 June 2022 by which the Company is required to demonstrate the availability of project funding and to check compliance as regards the environment, duties and taxes, land rent, and exploration reports.
The Company remains confident of its compliance with all regulatory requirements and also remains confident in its ability to achieve its plan as set out in its announcement dated 15 June 2022, including the signing of the Umbrella funding Agreement by the end of June 2022 which will demonstrate the full funding and any attaching remaining conditions.
Voted a few days ago
The Board has granted London-based, Hyperion Copper (Hyperion), a 12-month option to acquire 100%-owned subsidiary, Zed Copper (Zed), which owns four assets in Zambia’s copper-belt including the prime Luanshya and Mkushi Projects1,2
o Under the terms of the Option Agreement, Hyperion will pay a non-refundable US$100,000 fee (~A$142,000) to secure a 12 month exclusive option and, if exercised,issue £2.25m (~A$4m) in Hyperion shares to acquire 100% of the issued capital of Zed
o Further, CCZ will receive £1.5m (~A$2.7m) in Hyperion shares upon a global Mineral Resource Estimate (MRE) of 200,000t contained copper metal being delineated
o Hyperion, which owns a gold mining project located in Burkina Fasso, intends to list on the AIM market of the London Stock Exchange in 2H 2022 and raise funds to fully develop its African projects
? Under the terms of the agreement, CCZ’s shareholding will be no less than 25% post-
Hyperion’s AIM-listing with the right to nominate one director to the Board
o The Board believes this is an excellent outcome for all stakeholders, as it ensures the Zambia copper assets exploration potential will be fully developed, whilst any benefits will accrue to CCZ via retaining its shareholding in Hyperion
https://www.londonstockexchange.com/news-article/ORR/bibemi-exploration-update/15495523
try this link
tryhttps://www.londonstockexchange.com/news-article/ORR/bibemi-exploration-update/15495523
Following the update on the 25 May 2022, SAE is pleased to confirm that Atlantis Ocean Energy debenture holders have approved the amendment to the debenture deed which will:
· Extend the Maturity Date from 30 June 2022 to 30 June 2023
· Allow the interest due on 30 June 2022 to be paid late but no later than 30 September 2022
· Apply additional interest due to the amount that is being paid late at a rate equivalent to Barclays PLC published base rate +3% per year.
In the same update, the Company noted that it would also be requesting a deferral of interest due on 30 June 2022 in relation to Atlantis Future Energy debentures which mature on 23 March 2023 (£4.97m) and 30 September 2024 (£3.79m)
SAE has now written to Atlantis Future Energy debenture holders to formally request a short deferral of up to 3 months for interest payments due on 30 June 2022. Additional interest due to the amount that is being paid late will be applied at a rate equivalent to Barclays PLC published base rate + 3% per year.
SAE expects to use part of the initial proceeds of the approximately £10m of expected proceeds from the previously announced agreement with Uskmouth Energy Storage to deliver a Battery Energy Storage Site at Uskmouth, to repay the interest.
The request for the deferral requires the agreement of 75% by value of debenture holders. The voting period has now opened and the results of the vote are expected during week commencing 27 June 2022. SAE will continue to provide updates.
SAE would like to thank its debenture holders for their continued support.
For immediate release
ICONIC LABC PLC - IN ADMINISTRATION
The Joint Administrators provide the following update on the administration and the adjournment of General Meeting:
Administration extension
Following consent from the Secured Creditor, the Administration has been extended for a further 6 months to 3 December 2022.
Disputes
The Joint Administrators confirm that negotiations between the Company, Arch Capital Partners LLP and the European High Growth Opportunities Securitization Fund are progressing.
Proposed Company Voluntary Arrangement
The terms of the proposed Company Voluntary Arrangement have now been agreed, subject to the outcome of the negotiations, referred to above.
As soon as the negotiations are successfully concluded the CVA will be issued, with a view to returning control of the Company back to its Board, if agreed by creditors and shareholders.
It is hoped that a further update will be issued shortly
Antony Batty
Joint Administrator
8 June 2022
According to LSE at time of posting
# Trades 208
Vol. Sold 5,426,372
Sold Value £79,286.61
Vol. Bought 24,323,133
Bought Value £342,765.50
It would be wrong for them not to give us the full picture.
It's not over yet.