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Regency Mines to focus on battery metals as it redraws strategy

Scott Kaintz, chief executive, said the conclusion of the review was that a core business exists within Regency that can be developed.

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Cobalt, nickel and vanadium will be the focus

Regency Mines PLC (LON:RGM) is to regroup around battery metals plus energy storage in the UK following a strategic review.

The stakes in Curzon Energy and metallurgical coal miner MET will not be core assets going forward and Regency will look to sell them in due course, said Scott Kaintz, chief executive.

Going forward, the main assets will be the Mambare nickel-cobalt project in Papua New Guinea, and a 50% interest in the Dempster Vanadium project in the Yukon, Canada,

In the UK, work is currently underway on a single large development site near Liverpool, where two potential stages of development are envisioned under the name of the Southport Energy Centre.

Scott Kaintz, chief executive, said a core business exists within Regency that can be developed.    

“This core will consist of a combination of our existing mining interests coupled with the investment in energy storage space, offering investors potential exposure to the battery story and energy revolution from the raw materials in the ground to their ultimate deployment in the modern UK electricity grid.

“Funding will be required to develop our projects and we look forward to announcing further details of these plans in due course.”

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Price: 0.0333 GBX

LSE:RGM
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Market Cap: £505.13 k
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Regency Mines putting foundations in place for 'development and value'

Regency Mines PLC's (LON:RGM) Scott Kaintz and Ewen Ainsworth join Proactive's Andrew Scott in the London studio to discuss the recent refinancing of the firm's debt facility as well as the findings of the strategic review. Regency's refinanced US$1.254mln worth of loan notes through to July...

on 1/8/19

2 min read