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DJ MetalNRG Plc Strategic Business Update

MetalNRG plc 
                         ("MetalNRG" or the "Company") 
12 October 2017 
                           Strategic Business Update 
MetalNRG plc (NEX:MNRG) the natural resource investing company quoted on the 
NEX Exchange Growth Market in London is pleased to provide a strategic business 
update for investors. 
During the summer months the Company has been working actively in the 
background, on a number of initiatives.  Certain matters are now closing in on 
a conclusion, however the Company feels it would be prudent to outline the 
areas of commercial work underway, in order to give shareholders an indication 
of the activity levels and potential direction of the Company. 
Palomino Cobalt, Australia 
The Company has two exploration licence applications in progress, covering two 
different project areas, namely Palomino and Palomino North.  The Company has 
the right to acquire 100% of both projects from our Australian partner, upon 
successful granting of the respective exploration licences, further details of 
which can be found within the Company's announcements dated 29 June 2017 and 24 
August 2017. 
Whilst the Company originally submitted the applications with a cobalt focus, 
and cobalt remains a key target metal for both projects, due to their 
geographic location within the Pilbara region of Western Australia, the 
application areas may also be prospective for gold. As a number of companies 
are reported to have discovered potentially significant gold bearing 
conglomerates elsewhere in this largely underexplored region. 
The extent of interest in this region is demonstrated by the fact that in 
respect of Palomino North, we have been notified, that another mineral company 
has submitted an application for the same exploration ground as the Company, on 
the same day we submitted application, and thus MetalNRG's partner will now be 
entering into a ballot to determine which party successfully secures the 
application. MetalNRG has spent A$15,000 to secure the right to 100% of the 
Palomino North licence, as well as Palomino, when it becomes granted and the 
Company has also issued one million MetalNRG shares to the vendors. The Company 
will update shareholders as and when it is known that the application, for 
Palomino North has been successful or not. 
MetalNRG and its Australian partner have received various expressions of 
interest in the two exploration licence application packages and should 
suitably attractive formal offers be received we will consider disposal of our 
interest(s).  This does not mean the Company will dispose of any interest, but 
that the option would be available for consideration by the Company. 
In the interim MetalNRG is conducting initial work to assess gold prospectivity 
on the licences alongside cobalt prospectivity, and further information will be 
provided to the market when this initial work has been completed. 
US Cobalt, United States 
The Company announced on 12 July 2017 the acquisition of an 18.18% stake in US 
Cobalt Pty Limited and the option to increase this to 100% subject to due 
diligence. Part of the due diligence process was the completion of project 
licence specific and regional prospectivity review work which was commenced in 
July as announced on 21 July 2017. 
We are now in receipt of an updated report in respect of the US Cobalt project 
and this is undergoing technical review at present. 
This report details findings of the work conducted over US Cobalt's 100% held 
Columbia Pass Project ("Project"), which comprises 316 contiguous mineral 
claims within the Goodsprings Mining District ("Goodsprings"), approximately 
50km south west of Las Vegas, Nevada, United States. 
We intend to provide a more detailed update to the market shortly, however the 
work programme commenced in July 2017 has defined two prospective belts based 
on geological and mineralogical studies; the Fredrickson Zinc Lead ("FZP") belt 
and Swansea Copper Cobalt ("SCC"). 
Samples from historical surface workings proximal to the Project ranged up to; 
6.21% copper, 23.3% zinc, 180g/t silver in the FZP; and 12.6% copper and 1.96% 
cobalt in the SCC belt. 
With both the FZP and SCC belts ranging through the US Cobalt claim blocks, 
areas for follow-up sampling are well defined. 
The Columbia Pass area has a long history of small scale copper, zinc, lead and 
gold mining. Within the historic copper mines of the SCC belt, cobalt 
mineralisation was widely noted, but at that time, largely unexploited. 
A comprehensive summary of the summer work programme, findings and next steps 
will be released shortly, following interpretation of the supplied datasets. 
Uranium Opportunity 
MetalNRG has been approached by a third party wishing to utilise MetalNRG as a 
listed vehicle for a uranium opportunity. This project opportunity is under 
review at present and we will update the market should we decide to proceed and 
achieve a commercial agreement with the third parties involved. 
Paul Johnson, Chief Executive Officer of MetalNRG commented: "Although a small 
company with a market capitalisation of under GBP1million MetalNRG has been 
exposed to numerous significant and exciting opportunities in the energy metals 
and minerals environment.  We have outlined certain opportunities above however 
we are also pursuing a number of additional potential projects, notably in the 
cobalt space. 
The extent of opportunities available has led to an intensive work period over 
the summer and a reduced amount of market communications.  News flow is vital 
to market engagement, trading volumes and share price performance and it is my 
intention to enhance the forward news flow as we crystallise new opportunities. 
We are moving into what I believe will be a very exciting and value generative 
period in the Company's life cycle.  I would like to thank shareholders who 
have demonstrated patience, commitment and support in recent months as we have 
continued our work. 
Investors should be absolutely aware that until formal market announcements are 
made confirming commercial agreements, there is no certainty that a commercial 
transaction will be concluded." 
The Directors of the Company accept responsibility for the contents of this 
The technical information contained in this disclosure has been read and 
approved by Mr Nick O'Reilly (MSc, DIC, MAusIMM, FGS), who is a qualified 
geologist who acts as Competent Person. Mr O'Reilly has visited the US Cobalt 
project site and met with the exploration personnel. Mr O'Reilly is a Principal 
consultant working for Mining Analyst Consulting Ltd which has been retained by 
MetalNRG PLC to provide technical support. 
Contact details: 
MetalNRG plc                                                                                                     +44 (0) 7766 465617 
   Paul Johnson (Chief Executive Officer) 
NEX Exchange Corporate Adviser                                                                                  +44 (0) 20 7469 0930 
Guy Miller 
Mark Anwyl 
Corporate Broker +44 (0) 1483 413500 
Nick Emerson 
Andy Thacker 
Notes for Editors: 
MetalNRG is quoted on the NEX Exchange Growth Market in London with the stock 
code MNRG and is a natural resource investing company. 
NEX Exchange: 
Investors wishing to consider trading in NEX Exchange Growth Market quoted 
shares can access this market from numerous brokers, a full list of which can 
be accessed through the following link: 
The list accessed through the link above includes certain brokers offering 
online trading of NEX Exchange quoted shares. 
The Investing Policy of the Company is as follows: 
The Company's Investing Policy is to invest in and/or acquire companies and/or 
projects within the natural resources and/or energy sector with potential for 
growth and value creation, over the medium to long term. The Company will also 
consider opportunities in other related sectors if the Board considers there is 
an opportunity to generate an attractive return for Shareholders. This will 
include natural resource technologies and fintech opportunities offering 
leverage to resource identification, processing, recording, storage and trading 
Where appropriate, the Board may seek to invest in businesses where it may 
influence the business at a board level, add their expertise to the management 
of the business, and utilise their significant industry relationships. 
The Company's interests in a proposed investment and/or acquisition may range 
from a minority position to full ownership and may comprise one investment or 
multiple investments. The proposed investments may be in either quoted or 
unquoted companies; be made by direct acquisitions or farm-ins; and may be in 
companies, partnerships, earn-in joint ventures, debt or other loan structures, 
joint ventures or direct or indirect interests in assets or projects. 
The Board may focus on investments where intrinsic value can be achieved from 
the restructuring of investments or merger of complementary businesses. The 
Board expects that investments will typically be held for the medium to long 
term, although short term disposal of assets cannot be ruled out if there is an 
opportunity to generate an attractive return for Shareholders. The Board will 
place no minimum or maximum limit on the length of time that any investment may 
be held. The Company may be both an active and a passive investor depending on 
the nature of the individual opportunity. 
Where the Company builds a portfolio of related assets it is possible that 
there may be cross-holdings between such assets. The Company does not currently 
intend to fund any investments with debt or other borrowings, but may do so if 
appropriate. Investments in early stage assets are expected to be mainly in the 
form of equity, with debt potentially being raised later to fund the 

(MORE TO FOLLOW) Dow Jones Newswires

October 12, 2017 09:00 ET (13:00 GMT)

DJ MetalNRG Plc Strategic Business Update -2-

development of such assets. Investments in later stage assets are more likely 
to include an element of debt to equity gearing. The Board may also offer new 
Ordinary Shares by way of consideration as well as cash, thereby helping to 
preserve the Company's cash for working capital and as a reserve against 
unforeseen contingencies including, for example, delays in collecting accounts 
receivable, unexpected changes in the economic environment and operational 
The Board will conduct initial due diligence appraisals of potential business 
or projects and, where they believe further investigation is warranted, intend 
to appoint appropriately qualified persons to assist. The Proposed Board 
believes its expertise will enable it to determine quickly which opportunities 
could be viable and so progress quickly to formal due diligence. The Company 
will not have a separate investment manager. The Company proposes to carry out 
a comprehensive and thorough project review process in which all material 
aspects of a potential project or business will be subject to rigorous due 
diligence, as appropriate. 

(END) Dow Jones Newswires

October 12, 2017 09:00 ET (13:00 GMT)