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Proposed acquisition and Suspension of Listing
Proposed acquisition and Suspension of Listing.
About this update from Georgina Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3346O\n Mining, Minerals & Metals PLC\n 07 October 2021\n \n \n \n \n Mining, Minerals & Metals plc\n \n \n 7 October 2021\n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.\n \n \n UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n \n \n \n \n Mining, Minerals & Metals Plc/Index: LSE/Epic: MMM/Sector: Natural Resources\n \n \n \n \n \n \n \n \n \n \n \n Mining, Minerals & Metals plc\n \n \n (\"MMM\" or the \"Company\")\n \n \n \n \n \n Proposed acquisition and Suspension of Listing\n \n \n \n \n \n \n \n \n The Board of MMM is pleased to announce that it is in early stage discussions and has entered into a non-binding term sheet with Africa Resources Holdings, LLC (\"ARH\") to acquire the entire issued share capital of Narnia Mauritius Gas Holdings Limited (\"NMGH\"), that will hold a ninety five percent (\"95%\"), interest in Inert Gas Industries (Proprietary) Limited (\"IGI\"), which in turn owns the Lindley Natural Gas Project (\"LNGP\") exploration licences situated in the Free State Province of South Africa (\"The Proposed Transaction\").\n \n \n \n \n \n The discussions with ARH remain subject to contract, satisfactory completion of due diligence and additional equity fundraising. \n \n \n \n \n \n ARH have indicated that the LNGP exploration licences cover an area of 27,000 hectares with a portion of the LNGP licence area being previously operated by the Anglo American Corporation of South Africa Limited for approximately ten years producing both Methane and Helium gas. The Methane gas was flared whilst the Helium gas was sold locally in South Africa. Subject to compliance with all the requirements of the regulatory authorities in South Africa, following completion of the Proposed Transaction, MMM, intends to secure production permits to facilitate the production and distribution of Methane, Helium and any other marketable products from LNGP.\n \n \n \n \n \n The Proposed Transaction, if comple...