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Glenwick share chat (GWIK)

Discussion in 'General share chat (GWIK)' started by Steamy, Mar 10, 2016.

  1. Groucho

    Groucho Member

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    16 June 2021

    Cora Gold Limited ('Cora' or 'the Company')

    First drill results from Zone A at Sanankoro Gold Project including 29m @ 3.32 g/t Au


    Cora Gold Limited, the West African focused gold company, is pleased to announce the fifth set of drill results, and first from Zone A, from its largest ever drilling campaign, which commenced in March 2021 at its Sanankoro Gold Project ('Sanankoro' or 'the Project'), in Southern Mali. The Company plans to have drilled up to a total 35,000m by end of July 2021, with a dual focus on targeting resource growth as well as infill drilling to convert existing Inferred resources to Indicated.


    HIGHLIGHTS

    New drill results at Zone A confirm good widths and grade in oxide ore

    ● 29m @ 3.23 g/t Au from 66m in hole SC0365

    ● 32m @ 1.63 g/t Au from 32m in hole SC0366

    ● 14m @ 2.70 g/t Au from 63m and 12m @ 1.57 from 46m in hole SC0362

    ● 24m @ 1.64 g/t Au from 17m in hole SC0364

    ● 4m @ 8.51 g/t Au from 40m in hole SC0368


    Update on drill programme progress

    ● 174 holes drilled totalling over 18,340m from start of the campaign to the 14June 2021

    ● All three rigs are currently drilling at Selin in Phase 2 ('P2') drill programme targeting deeper holes to deepen existing shallow, average 65m depth, pit shells

    ● Targeted completion of up to 35,000m drilling is due in July 2021


    Bert Monro, CEO of Cora, commented, "The first set of results in this drill campaign at Zone A have followed on strongly from Selin and confirmed more holes of good widths and grade in oxide ore, including 29m @ 3.23 g/t Au from 66m depth. While we await further results from this target over the coming weeks, three rigs are now drilling back at Selin for the follow-up deeper Phase 2 programme and a fourth rotary air blast ('RAB') rig owned by Cora is completing sterilisation drilling on potential process plant and tailings storage facility sites."

    To view the RNS with illustrative diagrams and maps, please use the following link:
    http://www.rns-pdf.londonstockexchange.com/rns/0179C_1-2021-6-15.pdf

    Screenshot_20210616-071306_Vox Markets.jpg

    Cora Gold Limited - Zone A Drill Results including 29m @ 3.32 g/t Au #CORA @cora_gold https://www.voxmarkets.co.uk/rns/announcement/86df0664-82fd-49f0-98b8-eee6e2ac019a #voxmarkets
     
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  2. Groucho

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    17 June 2021

    i3 Energy plc

    ("i3", "i3 Energy", "i3 Canada", or the "Company")

    i3 Canada Ltd YE 2020 Reserves

    i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the 2020 year-end reserves for its subsidiary i3 Energy Canada Ltd. i3's independent reserve report (the "GLJ report") was prepared by GLJ Ltd. ("GLJ") in accordance with standards contained in the Canadian Oil and Gas Handbook (COGEH) and National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") with an effective date of 31/12/20.


    Highlights

    · The Before-tax Net Present Value of cash flows attributable to the reserves, discounted at 10%, is USD 97mm for the Proved Reserves ("1P") and USD 183mm for the Proved plus Probable Reserves ("2P"), indicative of the numerous economic development opportunities in the Company's portfolio.

    · Proved Producing Reserves are 17.51 million barrels of oil equivalent ("mmboe"), representing 55% of all 1P Reserves and Proved plus Probable Producing Reserves are 22.83 mmboe representing 43% of all 2P Reserves, indicative of relatively low risk reserves.

    · Top-tier, low-decline asset base as exhibited by projected first year declines of 13% on a 2P basis. Actual observed declines since i3's acquisition of these assets are significantly below this projection.

    · The Company's Proved plus Probable Reserves are comprised of 62% natural gas and 38% oil and natural gas liquids ("NGLs").

    · The forecast commodity pricing assumed by GLJ as at 31/12/20 is materially below that used for the 30/6/20 evaluation and today's forward strip price curve. The change in Proved Producing reserves of 1.8 mmboe from 30/6/20 to 31/12/2020 is principally due to the 1.7 mmboe produced across that 6-month period.


    The tables below outline GLJ's estimates of i3's reserves at 31/12/20.

    Screenshot_20210617-072240_Vox Markets.jpg

    Screenshot_20210617-072309_Vox Markets.jpg

    Majid Shafiq, CEO of I3 Energy plc, commented:

    "With Producing Reserves representing a relatively high proportion of Proved and Probable reserves and performance even better than the predicted top tier decline rates, this demonstrates the low risk, high quality nature of our portfolio".


    Notes:

    Reserves estimates have been prepared by GLJ in accordance with standards contained in the Canadian Oil and Gas Evaluation (COGE) Handbook.

    Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. It is likely that the actual remaining quantities recovered will exceed the estimated proved reserves. If probabilistic methods are used, there should be at least a 90% probability that the quantities actually recovered will equal to or exceed the estimate.

    Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated Proved plus Probable (2P) reserves. When probabilistic methods are used, there should be at least a 50% probability that the actual quantities recovered will equal to or exceed the 2P estimate.

    Undeveloped reserves are those reserves expected to be recovered from known accumulations where a significant expenditure (for example, when compared to the cost of drilling a well) is required to render them capable of production. They must fully meet the requirements of the reserves category (for example proved or probable) to which they are assigned.
     
  3. Groucho

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    Zak Mir talks to Majid Shafiq, CEO i3 Energy in the wake of an operational update, production aquisition and news regarding a proposed maiden dividend payout in July.
    https://audioboom.com/posts/7889149-traders-cafe-with-zak-mir-majid-shafiq-ceo-i3-energy


    LSE G_G_G RE: RNS / Majid
    So much good news. I'm still sticking with my belief that we'll be in double digits (and staying there) as we approach the ex-divi date in 3 weeks. The fact we're going to be paid a H1 divi at 30% of fcf for the entire period in September is incredible. Not sure about value, but expecting around double the special divi. Still a bonkers valuation here.

    Imo we'll slowly creep up to 15p with the addition of Noel, f/o, acquisition and exploration well successes being announced. his should happen over the next 12 weeks. If they execute everything mentioned to date we'll be comfortably above 10,000boepd with a better proportion of it being oil. The divi will likely increase in line with NOI, which means one could reasonably expect a 30-40% increase. At current poo, drilling, clean-ups and acquisitions we could expect to still be getting paid a +5% divi in 12 months even with the sp at 15-18p. This excludes any upside from a f/o of Nth Sea or the Simonette assets. I simply cannot see a world where we're not sitting at 20p in 6 months providing poo stays at / near $65 and we secure the Nth Sea f/o with drilling scheduled for Q1 2022. We should be 15p right now. The market is sleeping on this company. Once divi gets paid and f/o secured I think people will wake up to the opportunity. A little more evidence is required but I'm expecting a pretty fast re-rate over the next 3 months to nearer peer values. Bloody brilliant place to be invested!

    simonswood I believe the payout is .0014p per share. So you get about £1,400 per 1 million shares. This is about 6.5% annualized yield on a share price of 10p. I'm expecting the H1 divi to be around double this amount given the increase in oil / gas prices on a similar production base for the entirety of H1. My reckoning is the 'special divi' is essentially a % of fcf from last year's operations and perhaps a little from Q1. Don't really care to be honest. We're going to be getting 2 x divi payments over the next 3 months, alongside a steady stream of value enhancing news.

    16/06/2021
     
    Last edited: Jun 20, 2021
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  4. Groucho

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    I3 Energy Plc's (LON:i3E) Majid Shafiq and Graham Heath present their latest company news to Proactive London. The plan is to drill two new ‘high return’ wells in the Wapiti production area in western Canada in the coming weeks.

    This decision is expected to boost output and revenue at an estimated net cost of around US$2.1mln, which i3 noted is just 1.3x the forecasted net operating income for the next twelve months.

    It is expected that the drill programme will conclude early in the third quarter. The wells are expected to add around 175 barrels of oil per day net to i3.

    Shafiq and Heath also update their investors on their dividend strategy and the many opportunities they believe their portfolio in Canada offers with 'significant production' on the cards.

    https://www.proactiveinvestors.co.u...pportunities-that-we-can-exploit--952853.html
     
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  5. Groucho

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    @bertmonro CEO of @cora_gold (#CORA.L) Interview ️ We took the opportunity to speak with Bert Monro, as the company looks forward to more results from Zone A & B, & Phase 2 at Selin #Mali
    @share_talk
     
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  6. Groucho

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    28 June 2021

    i3 Energy plc

    ("i3", "i3 Energy", "i3 Canada", or the "Company")

    Operational Update

    i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following update.

    Noel Gas Well

    Following completion of construction and tie-in operations, the A-52-G horizontal gas well located on the Company's Noel acreage in Northeast British Columbia was brought on-stream on 17 June 2021. Production from the well has averaged 650 boepd since start-up on a ¼" downhole choke, exceeding initial expectations by 30%. Reserves additions associated with this location will be booked in i3's 2021 year-end reserves update, and the Company is currently evaluating potential offsetting development locations.

    Clearwater Drilling

    The Marten Hills 01-12-075-26W4 well targeting the Clearwater play was spud on 15 June 2021. As of 26 June, five of eight horizontal lateral sections, averaging 1661 m in length, have been drilled in the Clearwater formation from this wellbore, and operations have progressed on time and on budget. All laterals drilled have encountered clean upper shoreface sandstone ranging from 24% to 27% porosity and all have encountered oil as evidenced by oil shows on cuttings. The well is currently being drilled, and upon finishing the eighth lateral the rig will be demobilised and relocated to spud the second well in this Marten Hills Clearwater drilling programme at 02-12-075-26W4. Production is expected to commence during July.



    Majid Shafiq, CEO of i3 Energy plc, commented:

    "We are very pleased with the initial production performance of the Noel well, which has exceeded expectations, will contribute to year-end reserves additions and has de-risked similar offsetting drilling locations. Operations in Marten Hills have proceeded exceptionally well and we look forward to bringing these wells onto production in late July."
     
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  7. Groucho

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  8. Groucho

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    30 June 2021

    i3 Energy plc

    ("i3", "i3 Energy", "i3 Canada", or the "Company")

    Capital Restructuring and Completion of Wapiti Production Acquisition

    i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following update.

    Maiden Dividend

    The final confirmation hearing in the High Court of Justice of England and Wales was held yesterday and the court approved the cancellation of i3 Energy's share premium account (the "Capital Reduction"). The court order together with the court approved statement of capital has been delivered to the Registrar of Companies and the Capital Reduction will finally become effective upon the registration of the court order by the Registrar of Companies, which is expected to occur in the next few days. The Ex-dividend date, Record Date and Payment Date will be announced immediately following confirmation of the registration. With the predicted timing of the above registration by the Registrar of Companies, i3 expects the Ex-dividend date to be during the week commencing 12 July 2021.

    Wapiti Production Acquisition

    Previously announced as a letter of intent on 17 June 2021, the Company has now executed a binding sales and purchase agreement to acquire 230 boe/d of Wapiti production, a non-core asset to the seller, whereafter i3 intends to conduct six well reactivations to bring Next Twelve Months ("NTM") production to an estimated 310 boe/d at a total acquisition and capital cost of USD 410k, which translates to an acquisition cost of only 0.56x expected NTM net operating income (revenue minus royalties, opex, transportation and processing). This production acquisition is expected to complete in early Q3 2021, with a 1 April 2021 effective date.
     
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  9. Groucho

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    LSE - WHI Analysts Update - brilliant.....again!

    FIRST LIGHT i3 Energy (i3E) – Corporate – Maiden Dividend and Wapiti Production Acquisition Market Cap £89.6M Share Price 12.3p

    WHI View: We have previously stated our expectation that i3 Energy would rerate over the course of 2021 and we see the payment of a maiden dividend as one component supporting the rerating. With line of sight on the dividend payment and with the court order secured to allow for the dividend, the only remaining question is exactly on which date the ex-dividend date will fall – we think 8 July 2021 is quite likely. The positive backdrop provided by strengthening oil and natural gas prices is particularly positive for i3 Energy given the company’s material production levels and that cash flow from operations can be expected to be recycled into highly value accretive acquisitions or drilling. The growth trajectory of i3 Energy, we believe, is secured by the company’s extensive drilling inventory, albeit the exact shape of that trajectory will be taking form over the remainder of the year as well results from key new-drills come in.

    All in all, i3 Energy continues to raise the bar by relentlessly exceeding our ambitious expectations at every opportunity.

    We could not be more excited by the outlook for i3 Energy, which we believe is on a truly extraordinary trajectory of shareholder value creation. As a reminder, we placed our 24.5p fair value estimate for i3 Energy under review for an upward revision. For reference, that fair value estimate consisted of 15.7p relating to the company’s Canadian operations with the remainder relating to the potential of its UK North Sea assets.
     
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  10. Groucho

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  11. Groucho

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    2 July 2021

    i3 Energy plc

    ("i3", "i3 Energy", "i3 Canada", or the "Company")

    Operational Update

    i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following update.

    Production Update - Q2 2021

    Production in the second quarter averaged 9,142 boepd, which included the impact of routine facility maintenance on third-party facilities. Production since the start-up of the Noel well on June 17 has averaged 9,353 boepd.

    Clearwater Drilling

    The Marten Hills 01-12-075-26W4 well was spud on 15 June 2021, targeting the 25m thick Clearwater C sandstone, and finished drilling on 30 June 2021 to a maximum true vertical depth of 630m. Eight horizontal lateral sections, for a total of 13,057m in length penetrating the reservoir, were successfully drilled from this wellbore with operations having progressed on time and on budget. All laterals drilled have encountered a clean upper shoreface sandstone, with porosities ranging from 24% to 27%, and oil has been evidenced throughout by oil shows on cuttings. The rig has been moved to, and now spud, the second well in this Marten Hills Clearwater drilling programme at 02-12-075-26W4, with drilling expected to finish mid-July. Tie-in and equipping of the wells is expected to take five days following rig release, with production from both wells anticipated to commence in late July.

    Majid Shafiq, CEO of i3 Energy plc, commented:

    "We are very pleased with the outcome of the drilling operation on our first Marten Hills Clearwater well. The reservoir intervals drilled look to have excellent geological characteristics and we look forward to production results later this month. Apart from periods of facility maintenance, production levels in Q2 have consistently been above 9,000 boepd and we look forward to a period of growth over the next two months from incremental operational activity."
     
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  12. Groucho

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    7 July 2021

    i3 Energy plc

    ("i3", "i3 Energy" or the "Company")

    Strategic Central Alberta Acquisition Delivers Strong Free Cash Flow

    Proposed Conditional Placing and PrimaryBid Offer

    i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce that its wholly owned Canadian subsidiary has signed into escrow, pending receipt of irrevocable commitments for the Placing (as defined below), a definitive agreement with Cenovus Energy Inc., a senior Canadian oil and gas producer, to acquire certain petroleum and infrastructure assets within i3's Central Alberta core area (the "Assets"), for a total consideration of CA$65 million (US$53.7 million) (the "Acquisition"). The strategic Acquisition delivers extensive operational synergies, predictable low-decline production, a large reserve base with multi-year development inventory and expected strong free cash flow.

    The Company intends to raise a minimum of £40 million (before expenses) through a placing of new ordinary shares of £0.0001 each in the capital of Company (the "Placing Shares") at a price to be confirmed (the "Issue Price") (the "Placing"). The Placing will be conducted through an accelerated bookbuild (the "Bookbuild"), which will be launched immediately following the publication of this Announcement. The Placing is subject to the terms and conditions set out in the Appendix to this announcement (which forms part of this announcement, such announcement and its Appendix together being this "Announcement").

    In addition to the Placing, the Company intends to raise further funding by way of an offer made by the Company on the PrimaryBid platform through the issue of new ordinary shares in the capital of the Company (the "PrimaryBid Shares") at the Issue Price (the "PrimaryBid Offer"). A separate announcement will be made shortly regarding the PrimaryBid Offer and its terms. The Placing is not conditional upon the PrimaryBid Offer. The PrimaryBid Offer will close on completion of the Bookbuild process.

    Highlights:

    · Strategic core area consolidation - Acquiring approximately 8,400 boepd (51% oil and NGLs) of predominantly operated, conventional, low-decline production and an extensive network of complementary midstream infrastructure to support long-term sustainable operations

    · Large reserve base with development upside - Total Proved plus Probable Developed Producing reserves of 27.5 mmboe with an NPV10 of US$90 million and 2P reserves of 79.5 mmboe with an NPV10 of US$193 million (inclusive of undiscounted asset retirement obligations ("ARO") of US$92 million, inflated at 2% and discounted at 10% for an NPV10 ARO value of US$23 million), including an inventory of greater than 220 identified development drilling locations and reactivation opportunities

    · Strong net operating income to support consistent free cash flow yields - Next twelve months ("NTM") estimated net operating income ("NOI" = revenue minus royalties, opex, transportation and processing) of US$31 million supported by a low-decline production profile and minimal required annual maintenance capital provides predictable long-term free cash flow to support i3's planned dividend distribution policy

    · Immediately accretive on all key per-share metrics - Materially accretive to forecast production, NOI, and reserves (approximately 30%, 20%, and 76%, respectively) in the 12-month period following closing of the Acquisition

    · "Hand-in-glove" acquisition provides synergies and scale - Significant expansion of ownership in existing and additional oil and gas licenses and infrastructure in i3's Central Alberta core area will allow i3 to materially reduce unit operating costs and maximise third party tariff income

    · Strengthened financial position - Pro forma at closing of the Acquisition, i3 expects to have estimated net debt of only US$27 million, which translates to a current net debt to NTM NOI ratio of approximately 0.36x

    · Fundraise for the Acquisition - i3 is raising a minimum of £40 million (before expenses) at a price to be confirmed per share through the Placing and the PrimaryBid Offer to fund the Acquisition by way of (i) an accelerated book build to both current and new institutional investors, and (ii) a PrimaryBid Offer to retail shareholders.

    · Shareholder approval - The Placing and the PrimaryBid Offer are conditional upon, amongst other things, the approval by the Company's shareholders of certain resolutions to be proposed at a general meeting of the Company's shareholders on or around 26 July 2021. The Company wishes to conduct the General Meeting in a way that limits the risk associated with the Coronavirus pandemic and complies with the law. In light of this, although shareholders (including their duly appointed proxies and/or corporate representatives) will be, subject to any changes to the rules which may arise after the publication of this Announcement, permitted to attend the General Meeting in person, shareholders will be discouraged from doing so.


    Majid Shafiq, CEO of i3 Energy plc, commented:

    "We continue to execute on our business plan which is to build and grow a material and diversified production business through the most efficient deployment of capital, whether that is through exploitation of opportunities within the Company's existing portfolio or through accretive acquisitions such as this one. This transaction not only scales up our cashflow, but it will also, in the near term, lower our unit operating costs, increase third party tariff income and add scale to i3's expanding list of varied development opportunities, which will materially increase our options to both grow the business and manage risks."

    Ryan Heath, President of i3 Energy Canada Ltd., commented:

    "i3 Canada is extremely pleased to have entered into the Acquisition from a top-tier veteran participant of the Western Canadian Sedimentary Basin. The inherent synergies of the transaction, being immediately evident and robust, will most certainly expand with time to further enhance field efficiencies and cash flow throughout our central Alberta core area, to the benefit of the Company and its stakeholders."

    Acquisition Details

    On 6 July 2021, i3 has signed into escrow, pending receipt of irrevocable commitments for the Placing, an Asset Sale Agreement ("ASA") with Cenovus Energy Inc., a senior Canadian oil and gas producer, to acquire certain conventional central Alberta petroleum and infrastructure assets. The Acquisition includes approximately 8,400 boepd (51% oil and NGLs) of predictable low-decline production, 79.5 mmboe of 2P reserves with an NPV10 of US$193 million (inclusive of undiscounted asset retirement obligations ("ARO") of US$92 million, inflated at 2% and discounted at 10% for an NPV10 ARO value of US$23 million), an inventory of greater than 140 net drilling locations and 80 net reactivation opportunities across approximately 212,000 net acres, an 1,140 km network of operated pipelines, and key processing facilities.

    The Assets complement i3's existing area assets with approximately 3,090 boepd of overlapping joint working interest production and associated land position. The complementary nature of the Assets provides the basis for strong operational and financial synergies and continued good stewardship on behalf of all stakeholders.

    The profits attributable to the assets being acquired in the year ended 31 December 2020 were £7.1 million.

    Under the ASA, i3 will be acquiring the Assets free of all encumbrances (apart from industry standard or acceptable permitted encumbrances) for cash consideration of CA$65 million (US$53.7 million). The Acquisition is subject to normal interim period adjustments, customary conditions, and standard regulatory approvals.


    Pro Forma Benefits of the Acquisition

    The Acquisition is a continuation of i3's strategy of capitalizing on the recent market conditions to create a cash-generative, all-weather portfolio by efficiently consolidating high quality undercapitalized assets within its core operating areas. The production, infrastructure and lands associated with the Acquisition directly overlap i3's current asset base and provide meaningful operational synergies which are expected to further enhance free cash flow, enabling the Company to unlock development upside within the acquired and i3's existing portfolio of assets.

    Through this strategic Acquisition, i3 significantly enhances its production, cash flow and reserve base while maintaining a strong balance sheet. Pro forma the Acquisition, i3 is expected to:

    · Increase NTM production 84% to 18,470 boepd (47% oil and NGLs)

    · Increase NTM net operating income 70% to US$75 million

    · Increase 2P reserve volumes by over 150% to more than 132 mmboe

    The Acquisition of the Assets enhances i3's ability to grow production, free cash flow, and its planned return of capital to shareholders.

    i3 will continue to balance its pursuit of organic and inorganic opportunities, directing disciplined capital allocation towards its core operating areas. i3 remains committed to its long-term growth while delivering to its shareholders meaningful share price appreciation and cash distributions.

    Details of the Placing and the PrimaryBid Offer

    i3 is raising a minimum of £40 million from current and new institutional investors and retail shareholders at a price to be confirmed. The financing is comprised of the Placing and the PrimaryBid Offer.

    The Placing is being conducted by way of an accelerated book build in accordance with the terms and conditions set out in the Appendix to this Announcement. The Bookbuild will commence immediately following the publication of this Announcement. The Placing is not underwritten.

    PrimaryBid (primarybid.com) is running the PrimaryBid Offer in order that i3's retail shareholder base may participate alongside Placing participants. Total net funds raised from the Placing and PrimaryBid Offer (together, the "Placings") will be used to fund the Acquisition and associated costs. Any residual funds will contribute to the Company's ongoing operations and general corporate purposes.

    The Placings and the related issue of new ordinary shares in the capital of the Company ("Ordinary Shares") remain subject to, amongst other things, shareholder approval at a General Meeting of i3's shareholders, expected to be held on or about 26 July 2021. Further details of the General Meeting will be announced in due course.

    The Company has today entered into a placing agreement with Tennyson Securities Limited ("Tennyson"), W H Ireland Limited ("WH Ireland") and Canaccord Genuity Limited ("Canaccord") (Tennyson, WH Ireland and Canaccord together being the "Brokers") relating to the Placing (the "Placing Agreement"), pursuant to which the Brokers have each agreed to use their respective reasonable endeavours as agents of the Company to procure subscribers for the Placing Shares at the Issue Price.

    The Placing Agreement provides, inter alia, for the payment by the Company to the Brokers of commissions based on the number of Placing Shares placed by the Brokers multiplied by the Issue Price.

    The Placing Agreement contains certain warranties and indemnities from the Company in favour of the Brokers and is conditional, inter alia, upon (i) the Placing Agreement having become unconditional in all respects (save for the condition relating to the admission of the Placing Shares to trading on AIM ("Admission")) and not having been terminated in accordance with its terms prior to Admission, and (ii) Admission becoming effective not later than 8.00 a.m. on 13 August 2021. Each of the Brokers may terminate the Placing Agreement if, inter alia: the Company is in material breach of any of its obligations under the Placing Agreement; or there has occurred, in any of the Broker's reasonable opinion acting in good faith, an event which is likely to materially and adversely affect the position of the Company's corporate group taken as a whole.

    Applications will be made in due course to the London Stock Exchange for the Placing Shares and the PrimaryBid Shares to be admitted to trading on AIM. Admission of the Placing Shares and the PrimaryBid Shares is expected to become effective and dealings in such shares are expected to commence at 8.00 a.m. on 27 July 2021.

    The Placing Shares and the PrimaryBid Shares, when issued, will be fully paid and will rank pari passu, in all respects with the existing ordinary shares in the capital of the Company.

    The Appendix contains the detailed terms and conditions of the Placing. Persons who have chosen to participate in the Placing, by making oral, electronic or written offers to acquire Placing Shares, will be deemed to have read and understood this Announcement (including the Appendix) in its entirety and to be making such offers on the terms and subject to the conditions herein, and to be providing the representations, warranties, agreements, acknowledgements and undertakings contained in the Appendix.
    Screenshot_20210707-070721_Vox Markets.jpg
     
  13. Groucho

    Groucho Member

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    07 July 2021

    Cora Gold Limited ('Cora' or 'the Company')

    World Class Intersection at Sanankoro with 19m @ 31.56 g/t Au from 65m at Zone A


    Cora Gold Limited, the West African focused gold company, is pleased to announce the sixth set of drill results from its largest ever drilling campaign at its Sanankoro Gold Project ('Sanankoro' or 'the Project') in Southern Mali. The Company remains on schedule to drill up to 35,000m by end of the programme, with a dual focus on targeting resource growth as well as infill drilling to convert existing Inferred resources to Indicated. The results to date have been extremely encouraging with good widths and high-grade results in generally shallow oxides ore.


    HIGHLIGHTS

    · Results at Zones A and C further reinforce the mineable quality of the Sanankoro gold structures

    · Results continue the trend from Selin deposit of shallow oxide intercepts of good widths and high grades

    · Gold grades are higher than historical results at Zone A and B offering potential further upside

    Zone A highlights:

    · 19m @ 31.56 g/t Au from 65m

    o Intercept starts 50m below existing pit shell at Zone A

    · 21m @ 5.75 g/t Au from 98m

    o Drilled at the base of the existing pit shell

    · 17m @ 2.44 g/t Au from 34m

    o Below existing pit shell and up-dip from hole SC0379 (19m @ 31.56 g/t Au)

    · 19m @ 2.07 g/t Au from 28m

    Zone C highlights:

    · Zone C is currently a pre resource discovery and not part of any current mineral resource estimate

    · 14m @ 8.54 g/t Au from 115m

    · 7m @ 12.17 g/t Au from 70m

    · 24m @ 2.32 g/t Au from 86m

    · 30m @ 1.68 g/t Au from 74m


    Bert Monro, CEO of Cora, commented, "This drill programme continues to go from strength to strength. 19m @ 31.56 g/t Au is by far the most significant drill hole that Cora has ever drilled. This hole sits outside the existing inferred resource pit shell, starting 50m deeper than the current resource pit shell, so offers even greater upside to the Sanankoro Gold Project. This programme is continuing to deliver very high-grade oxide drill results from shallow depths, offering significant economic potential for the upcoming resource and DFS.

    "Zones A and C were historically lower grade than Selin, but these results demonstrate that there is potential for better grades in these deposits. The Company is aiming to complete the 35,000m drill programme over the next month with a resource update due to follow once all the assay results have been received.

    "Once again I would like to thank our team and contractors who are delivering this programme on the ground over a very long field season. The quality and efficiency of their work has been extremely impressive, and I am very pleased that the results are matching their efforts!"

    To view the RNS with illustrative diagrams and maps, please use the following link:
    http://www.rns-pdf.londonstockexchange.com/rns/3737E_1-2021-7-6.pdf

    Cora Gold Limited - World Class Intersection: 19m @ 31.56 g/t Au #CORA @cora_gold https://www.voxmarkets.co.uk/rns/announcement/e176fde5-a0c7-4142-be03-81d357c8b94b #voxmarkets
     
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  14. linkin-mark

    linkin-mark Demi God of BlueShare

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    Didn't give the pi's much time but seems a good deal all the same.
     
  15. linkin-mark

    linkin-mark Demi God of BlueShare

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    Very positive!
     
  16. Groucho

    Groucho Member

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    8 July 2021

    i3 Energy plc

    ("i3", "i3 Energy", "i3 Canada", or the "Company")

    Dividend Declaration

    i3 Energy plc (AIM:I3E) (TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following update.

    Maiden Special Dividend

    The court order cancelling i3 Energy's share premium account and the associated court approved statement of capital has been registered by the Registrar of Companies. Therefore i3 Energy is now able to confirm the following for its special dividend:

    Net Dividend: 0.16 pence/share

    Ex-Dividend date: 15th July

    Record Date: 16th July

    Payment Date: 6th August

    Payment to shareholders holding their shares on the TSX will be made in Canadian dollars at an exchange rate of CAD 1.72 = GBP 1.00.
     
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  17. Groucho

    Groucho Member

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  18. Groucho

    Groucho Member

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  19. Groucho

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