Gledhow Investments plc (GDH) Gledhow Investments plc: Investee
Update: Evrima plc 13-Sep-2021 / 07:00 GMT/BST Dissemination of a
Regulatory Announcement that contains inside information according
to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The
issuer is solely responsible for the content of this
announcement.
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Gledhow Investments plc
("Gledhow" or the "Company")
AQSE: GDH
13 September 2021 Gledhow Investee Update: Evrima plc
(AQSE:EVA)
Gledhow: Evrima plc Investment position
In July 2020, Gledhow, took part in a recapitalisation and
restructure of Evrima plc (then named Sport Capital Group plc). In
conjunction with this corporate restructure, Executive Director of
Gledhow, Guy Miller, joined the Board of Evrima plc in the capacity
of Non-Executive Director.
Gledhow is pleased to announce its participation in the
GBP720,000 brokered placing that Evrima plc conducted and announced
on 2 September 2021 (link to news release: here). Gledhow
subscribed for a further 2,000,000 ordinary shares at 5 pence per
share, pursuant to the terms of the placing.
Gledhow: Evrima plc Investment Overview
GHD Shares held GDH number of GDH Number of Shares on Evrima plc enlarged share capital Gledhow, % of
prior to placing shares subscribed admission of placing shares on admission of placing shares Enlarged Share
Capital
1,700,000
2,000,000 3,700,000 39,436,728 9.38%
(or 6.8% of the
share capital)
In addition to the Company's equity position, Gledhow also holds
instruments in the form of warrants in Evrima plc;
Number of Warrants Held Strike Price Life to Expiry
1. 1,700,0000 6p July 2023
2. 2,000,000 10p September 2024
Should Gledhow exercise all its entitlements under the warrants,
the Company shall be granted replacement warrants with a life to
expiry of three years from date of grant of the replacement
warrant.
Replacement Warrant Entitlement Strike Price Life to Expiry
1. 1,700,000 12p 3-years from date of grant
2. 2,000,000 20p 3-years from date of grant
Should the Company exercise, all its entitlements, Gledhow would
hold a total of, 11,100,000 shares of Evrima plc.
Guy Miller, Executive Director commented, "Having corner-stoned
the recapitalisation and restructure of Evrima plc in July 2020,
Gledhow is encouraged by the strong financing Evrima plc has
completed at the beginning of September, with the financing being
conducted at a premium to the Company's participation in July
2020.
Over the past 12-months, Evrima has been developing a
disciplined and well-structured investment strategy in
nickel-copper-cobalt-uranium resources projects, honed-in on
southern Africa, with acquisitions of interests in projects in
Botswana, detailed below.
What will be of significance moving forward is for Evrima to
broaden its market audience and to present the company as a
compelling alternative to direct asset exposure, and presenting a
public market conduit to active exploration and development
companies that are yet to list or are in the process of significant
material events.
Evrima has an active period planned to the year end with a
number of its investee's active in developing their assets through
drill campaigns and corporate activity for which Gledhow looks
forward to providing further updates."
Evrima plc (AQSE: EVA):
About
Evrima is an investment issuer listed on the AQSE Growth Market
Exchange (AQSE: EVA). Evrima creatively structures investment
transactions within the natural resource sector. The company has
focused its identification of assets to base and industrial metal
opportunities within the jurisdiction of Botswana.
To date the company has amassed a basket of investment positions
and is evaluating a number of both indirect asset investment and
direct asset investment opportunities.
Evrima: Current Investment Portfolio 1. Premium Nickel Resources
Corporation ("PNR")
No. of Shares Evrima Holds: 1,000,000
% of Share capital: 1.37%
Last News Release on PNR can be found here
PNR is a private Canadian company that provides direct exposure
to nickel-copper-cobalt ("Ni-Cu-Co") opportunities in the southern
African region (principally, Botswana). PNR submitted an Indicative
Offer ("IO") to the BCL Liquidator in June 2020 to acquire the
former producing BCL Selebi-Phikwe Mining Complex and the Tati
Nickel Mining Corporation ("TNMC") Operations as well as regional
exploration joint ventures on highly prospective Ni-Cu-Co projects
located in north-eastern Botswana.
PNR was selected as the preferred bidder to acquire the assets
formerly owned by BCL Limited and TNMC on February 10, 2021. On
March 24, 2021, PNR completed the Exclusivity Memorandum of
Understanding ("MOU") with the Liquidator for the ongoing six-month
exclusivity period to complete additional work and related Asset
Purchase Agreements (See Evrima plc News Release dated March 24,
2021). Negotiations are ongoing to finalise terms on the
prioritised assets that will be included in the Asset Purchase
Agreement.
The BCL operations at Selebi-Phikwe are comprised of a mining
complex, a concentrator and a processing facility, as well as other
supplementary assets and infrastructure such as rail line, tailings
facilities, and employee housing. Shaft sinking and plant
construction started in 1970 and open pit mining commenced at
Phikwe in 1972. Throughout the mine's life the various deposits,
over a 14 km strike length, have been mined by open pit and various
underground mining methods. Mining concluded in October 2016 when
the operations were placed on care and maintenance due to a failure
in the smelter. PNR's redevelopment plan is based on a
re-characterisation of the remaining resources and the ability to
produce two separate commercial concentrates (a Cu concentrate and
a separate Ni-Co concentrate).
Underground Selebi-Phikwe Remaining reserves and resources at 31
December, 2016:
Proven & Probable Mineral Reserves 49 Mt @ 0.61% Ni, 0.68%
Cu Indicated & Inferred Mineral Resources 35 Mt @ 0.82% Ni,
0.92% Cu
The TNMC Operations are comprised of two mines and a processing
plant situated 65 km south-east of town of Francistown, and 75 km
north of the BCL Operations at Selebi-Phikwe. Underground
production at Selkirk of high-grade massive sulphides between 1989
to 2002 produced 1 million tonnes @ 2.6% Ni and 1.5% Cu that was
directly shipped to the BCL Smelter. A large volume of disseminated
Ni-Cu mineralisation surrounds the higher-grade Selkirk
mineralisation is being evaluated as a potential open pit
development. The Phoenix open pit mine and processing plant began
operations in 1995. The operations were put on care and maintenance
in early 2016.
Open Pit TNMC remaining reserves and resources at 31 December,
2016:
Proven & Probable Mineral Reserves 17.8 Mt @ 0.19% Ni, 0.13%
Cu; Indicated & Inferred Mineral Resources 234 Mt @ 0.22% Ni,
0.23% Cu
The Direct Source for the information can be located here 2.
Eastport Ventures Inc.
No. of Shares EVA Hold: 523,667
No. of Warrants in Eastport EVA Hold: 523,667
Shares as a % of Eastport Share Capital: 1.62%
Lastest Evrima plc News Release on Investee Eastport can be
found here
Eastport Ventures is a company incorporated and registered in
Ontario, Canada, which was formed by seasoned explorers and
corporate investors for the purpose of identifying and evaluating
mineral opportunities in Southern Africa, with a specific geologic
focus on Botswana. The commercial objective of Eastport Ventures
has been patiently to accumulate a portfolio of advanced
exploration and investment opportunities at junctures in the
resources demand cycle when commodity markets were depressed. This
covered a range of commodities that the Eastport Ventures' team
believed would attract capital investment upon an upturn in global
capital markets, coupled with a renewed appetite for undervalued
mining and exploration assets.
Eastport Ventures has hitherto amassed a portfolio of interests
spanning Copper, Nickel, Uranium, and Diamonds; it has additionally
created an internal investment division that currently has a value
in excess of CUSD2,500,000. The mineral assets within Eastport
Ventures have attracted an aggregate of over USDUSD15,000,000 in
both historic and current capital expenditure.
Eastport: Active Drill Campaigns
Jwaneng North Diamond Project
On 19 August 2021, Eastport Ventures announced that drilling
commenced at its wholly owned Jwaneng North Project to the
immediate north of Debswana's Jwaneng Diamond Mine in South Central
Botswana on a two-hole, 600m programme that will sample two
separate kimberlites; the Kgare & EVB04.
Following geological work on the core, split samples will be
sent to SRC in Canada for diamond recovery and indicator chemistry
studies. The first hole is planned to a depth of 400m; presently it
is at 196m and in kimberlite.
An update on the diamond results from the August 2021 drill hole
1 programme will be provided on completion of the programme.
Matsitama Copper Project
Eastport is currently preparing a 2,500m to 5,000m Diamond Drill
programme at the Matsitama Copper Project and will initially focus
on the highly prospective:
Phudulooga Target [Historic Drilling Returned]
-- DS07-011 - 4.42% Cu, 5.94 g/t Ag over 3.3m at 24.1m depth
-- DS07-012 - 3.36% Cu, 3.72g/t Ag over 3.4m at 85.8m depth
Nakalakwana Target [Historic Drilling Returned]
-- NH-014 - 2.47% Cu over 10m at 65.9m depth
-- NH-016 - 2.42% Cu over 5.26m at 60.4m depth
Eastport Ventures Inc: Go Public Transaction
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