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Sale of Burwell Project

The Company has closed the sale of the Burwell project for cash proceeds of £200,000, plus a reimbursement of Corcel's grid deposit of £50,000. This sale formally completes the closure of the Flexible Grid Solutions division.

As at 30 June 2022, the Burwell project was held in the Company's accounts balance sheet at nil and losses in the subsidiary containing the project for the most recent financial year were £35.2k.
Corporate Debt Update

Following completion of the sale of the Burwell project, Corcel intends to utilize a portion of the proceeds to retire the remaining balance of the portion of its corporate debt, most recently restructured and announced on 31 October 2022. Recent asset sales since November 2022, including the Burwell transaction, will then have reduced total outstanding debt by a total of £777,600 and have completely repaid the debt originally due October 2022.

Following these payments, the outstanding balance of the Company's corporate debt is £672,941 (consisting of £619,198 of principal and £53,743 of accrued interest) which was last refinanced on 14 December 2021 with the initial payment of £156,943 due 23 January 2023 and smaller monthly payments due through to June 2023.

The remaining proceeds of the sale of the Burwell project will be used for working capital.

The Company is in constructive discussions with its remaining lenders to refinance these obligations regarding a reprofile and extension of the outstanding amount.

Thanks SP71 and Dakry.
If Align changed their name again from Catalyse to Karma Squared Ltd then, in my opinion, the TR RNS should have used their latest name of Karma, instead, of Catalyse Capital unless there is something I am not aware of.
This website: https://find-and-update.company-information.service.gov.uk/search?q=Catalyse+Capital
The address of both Catalyse Capital and Karma Squared are the same so I don't know whether this info on the above website means they have actually changed their name or are in the process of doing it.
When things like this happens it arouses a suspicion of smoke and mirrors and makes me feel rather unsettled.

I have tried to find Catalyse Capital's website via Google and keep getting a list of similar sounding names like Catalyze Capital, Catalyst or Catalysis.
I have looked on Align Research's website and I can't find any note advising that they have changed their name to Catalyse Capital with a link to their new website.
The first time I saw Catalyse Capital's name was in the TR1 RNS
This leaves me with an uneasy feeling .
Anyone got a link to Catalyse Capital's website?
Thanks in advance

04 January 2023

Corcel, the natural resource exploration and development company with interests in battery metals, including nickel, cobalt and rare earth elements, announces that it has entered into a farm-out and joint venture agreement with Riversgold Ltd (ASX:RGL) covering its recently acquired rare earth elements project at Mt. Weld, in Laverton, Australia.

Highlights
o AUD 30,000 in cash immediately payable to Corcel
o RGL earns a 50% interest in the project through paying 100% of the work programme, spending AUD 500,000 over a 12-month period
o CRCL has the right, but not the obligation, to allow the farm-in of a further 20% for an additional AUD 1,000,000 carry on the work programme bringing total carried expenditure to AUD 1,500,000
o RGL will operate the tenements and direct the exploration programme on behalf of Corcel

Chief Executive Officer, Scott Kaintz commented: "We are delighted to follow directly our acquisition of Mt. Weld with a farm out of half of the position to fund 100% of the near-term development and exploration costs. This is highly accretive against our acquisition cost and further reinforces the Board's view of the project's immediate potential upside and overall attractiveness.

Our partner, Riversgold Ltd, brings with them an experienced exploration team well positioned to lead the work on the ground in Australia. We look forward to working with them in 2023 to take the project forward."

Probably the latter.

Wearing my cynical hat, some thoughts.
The board are obviously aware that they have taken pasting on the boards for some time now so how convenient to release good news to blunt the potential criticisms at the AGM.
If the Weld deal is so good, why haven't the other much larger companies operating in the area taken the opportunity that Corcel has taken?
If it looks like a fish and smells like a fish .....!? You fill in the dots to suit your opinion.
Let the feeding frenzy of opposite opinions commence. I'm wearing a bullet proof vest.

EoA , you've done your ramping and it's getting more than a touch tedious, repetitive and very boring
I don't remember seeing you post on this board before and suspect you are doing it for some ulterior motive. in my personal experience, anything to do with DL usually turns out to be a disaster.
To put it politely, get lost!

Thanks Jim

Somebody posted a list of the companies that JP is currently either the chairman or a director all of which had declining share prices.

Could they please post it again? Thanks in advance.

mcfcnige
I think it is just another incident of them giving us the mushroom treatment. Keep them in the dark and through bovine manure all over them.
If anyone thinks that's unfair, my comment is made against the background of past history,
'Nuff said.

"Corcel Plc (London AIM: CRCL), the natural resource exploration and development company, with interests in battery metals and flexible energy generation and storage, announces that it has sold it's 40% interest in the Tring Road 50MW gas peaking project outside of Aylesbury to Terra Firma Ltd. The Company has agreed a sales price of £317,946, with £121,146 to be paid immediately and a further £196,800 at completion. The Company intends to use these funds, once received, to further reduce its recently restructured debt, as announced on 31 October 2022.

For the year ended 31 July 2021 the losses attributable to the asset were £425 and the investment was held in the Company's interim accounts balance sheet at £400,000 on 31 December 2021.

Scott Kaintz, CEO of Corcel commented:

"The disposal of the Tring Road Gas peaking project and the MOU in respect of the restructuring of the Company's PNG based battery metal interests through the proposed Singaporean joint venture with NPC announced in October, are significant milestones in the ongoing transformation of Corcel's business interests. We look forward to announcing further developments of these efforts in due course."

Scott Kaintz, CEO of Corcel commented:

"The disposal of the Tring Road Gas peaking project and the MOU in respect of the restructuring of the Company's PNG based battery metal interests through the proposed Singaporean joint venture with NPC announced in October, are significant milestones in the ongoing transformation of Corcel's business interests. We look forward to announcing further developments of these efforts in due course."

"Amur Minerals Corporation ("Amur" or the "Company") takes this opportunity to update shareholders on the status of the Company's disposal of its AO Kun-Manie wholly owned subsidiary to Bering Metals LLC (the "Buyer"), a Russian incorporated company. Totaling US$35 million, the transaction was anticipated for completion in early November 2022.

However Western introduced restrictions related to the international transfer of funds from the Russian Federation have become more restrictive with time. Mainstream international banks are severely restricting or are no longer allowing such transactions per their internal compliance protocols. This includes the Company's bank which has necessitated establishing alternative banking services. The Buyer and the Company are coordinating efforts to establish a fully compliant fund transfer allowing for completion.

Robin Young, CEO of Amur, commented:

"Amur and Bering are keen to complete the sale of AO Kun-Manie as soon as possible. The majority of our efforts are focused on establishing a chain of custody for the fund transfer which is fully compliant with the current geopolitical situation. We look forward to updating shareholders once the banking restrictions are successfully solved. With regard to timing, this is dependent upon banking institutions completion of their Know Your Client ("KYC") protocols."

Why?

"26 October 2022
Further to the announcement of 25 October 2022 regarding the subscription by Shandong New Power COSMO AMT ("NPC"), the Company confirms that the placing funds have now been received and the fundraising has been completed."

Yep, that just about sums up that bag of foul air!

Dicko, I agree with your post at 17.09 yesterday. They are all bye byes.

Dicko are you still saying that the trades at .035 are buys?

Dicko, given the spread of .035 - .040 and a mid price of .0375 shown on LSE's prices, why do you say they were "buys'?

Dicko, given the spread of .035 - .040 and a mid price of .0375 shown on LSE's prices, why do you say they were "buys'?

Apologies. Wrong thread!