Last checked at 28 Jun 2024 11:54
28 June 2024
Mining Minerals & Metals plc
("MMM" or the "Company")
Proposed Acquisition of Georgina Energy plc
Mining Minerals & Metals Plc, the investment vehicle established to undertake an acquisition in the natural resources sector, is pleased to announce a further update on the proposed acquisition of Georgina Energy plc ("Georgina Energy") ("Proposed Acquisition").
The Company and its advisers have finalised the terms for the Proposed Acquisition, and subject to receipt of approval of the Company's final form prospectus from the FCA, will publish a definitive timetable for completion of the Proposed Acquisition and re-listing on the official list and admission to the LSE, which remains a target for July 2024.
Finally, Georgina Energy is continuing to work on its projects and remains on target to commence drilling the Hussar Prospect by the end of 2024.
END
For further information, please contact:
Mining, Minerals & Metals plc
Roy Pitchford | |
Non-Executive Chairman, Mining, Minerals & Metals plc
| Telephone +44 (0)20 7317 0644 Email: roy@mmmplc.com |
Georgina Energy plc | |
Tony Hamilton | via Camarco |
Mark Wallace | |
Tavira Financial Ltd - Financial Adviser and Joint Broker
Jonathan Evans | +44 (0)20 3833 3719 |
Oliver Stansfield | |
Oak Securities - Joint Broker
Jerry Keen | +44 (0)203 973 3678 |
Henry Clarke | |
Dillon Anadkat |
Camarco - Financial PR
Tilly Butcher Gordon Poole Letaba Rimell | georginaenergy@apcoworldwide.com |
Notes to Editors
Georgina Energy aims to become a leading player in the global energy market and is focused on establishing itself among the top producers of helium and hydrogen worldwide. With a strategic approach and leveraging the experienced management team's expertise, Georgina Energy aims to capitalize on opportunities in these critical energy sectors.
The projects benefit from established infrastructure and a reliable supply chain, offering significant resource potential through low-risk, cost-effective drilling projects.
Georgina Energy has two principal onshore interests held through its wholly owned Australian subsidiary, Westmarket O&G. The first, the Hussar Prospect is located in the Officer Basin in Western Australia and Westmarket O&G holds a 100% working interest in the exploration permit. The second, the Mount Winter Prospect, is located in the Amadeus Basin in the Northern Territory, which Georgina Energy has a right to earn an initial 75 per cent. interest in (with the potential to reach 90 per cent.).
In line with market demand trends, Georgina Energy is well-positioned to capitalize on the growing gap between supply and demand for hydrogen and helium with the resource potential of Mount Winter and Hussar projects for their potential accumulations.
For more information visit https://www.georginaenergy.com
Forward-looking statements
Certain statements contained in this announcement that are not historical fact may be "forward-looking" statements. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control and all of which are based on the Company's current beliefs and expectations about future events. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "intends", "estimates", "plans", "assumes" or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In addition, from time to time, the Company or its representatives have made or may make forward-looking statements orally or in writing. Furthermore, such forward-looking statements may be included in, but are not limited to, press releases or oral statements made by or with the approval of an authorised executive officer of the Company. These forward-looking statements, and other statements contained in this announcement regarding matters that are not historical facts, involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Company and its subsidiaries. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements.
The forward-looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by applicable law and/or regulatory obligations, the Company does not undertake any obligation to update or change any forward-looking statements to reflect events occurring after the date of this announcement. Nothing in this announcement is intended as a profit forecast or estimate for any period and no statement in this announcement should be interpreted to mean that earnings or earnings per share or income, cash flow from operations or free cash flow for the Company for the current or future financial years would necessarily match or exceed the historical published earnings or earnings per share or income, cash flow from operations or free cash flow for the Company