6 Dec 2017 09:57
Regency Mines Plc
("Regency" or "the Company")
Co-Operation Agreement - Coal
6 December 2017
Further to the announcement of 24 November 2017, Regency Mines Plc, the natural resource exploration and development company with interests in hydrocarbons and base metals, announces that it has entered into a Memorandum of Understanding with Legacy Hill Resources Ltd ("LHR"), a privately owned mining company, for co-operation in structuring, financing and owning coal investments in the U.S. LHR has a multi-disciplinary team centred on technical and operational expertise gained in engineering, mining consulting, geology and management of mining businesses.
LHR are reviewing a number of projects and will assist Regency in the due diligence on the Rosa Mine in Alabama, in which the Company announced on 24 November 2017 that it had an option to acquire the 80% interest not already held.
Andrew Bell, Chairman, comments: "Legacy Hill has a focus on adding value for its shareholders through efficient mine operation, and has been actively seeking out opportunities in the coal sector. Both internationally and in the United States, its management have specific expertise in coal mining. Legacy Hill personnel also have a track record in structuring and raising finance for large projects. After nearly two years of sharing offices with them, we have come to know them well and believe that their complementary skills and compatible styles will make for a successful co-operation."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information contact:
Andrew Bell 0207 747 9960 Chairman Regency Mines Plc
Scott Kaintz 0207 747 9960 Executive Director Regency Mines Plc
Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson020 7374 2212 Broker First Equity Limited