ACTIVE ENERGY GROUP (LON:AEG)
SECTOR – RENEWABLE ENERGY
RATING – CORP*
MARKET CAP – £19.7m
CURRENT PRICE – 2.25p#
Submission of Newfoundland Province of timber licence documentation
NORTHLAND VIEW
AEG affiliate Timberlands International Ltd., has completed submission of documentation to the Ministry of Fisheries and Land Resources of the Crown Province of Newfoundland and Labrador, for a Crown Timber Licence and Forestry Management Agreements (FMAs) for Forestry Management Districts 17 and 18.
AEG reports that this completes over five months of co-ordination between Timberlands and the Canadian forestry consultancy company, Zimmfor Management Services Ltd, including proposed financial term sheets for the prospective FMAs and detailed analysis from each of the relevant ministries in the Province. The application is in addition to the earlier agreement in principle between the Province and the Group of 22 May 2017.
The application is for a 20-year forestry management agreement covering 1,211,000 hectares to harvest and utilise up to 140,000 m3 of wood annually from the two Forestry Management Districts located in the north west of the Province. The Provincial permitted Annual Allowable Cut (AAC), or timber ‘harvest’, is indicated at 250,400m3, which indicates for Timberlands an allowance equivalent to a significant proportion, 56% of total for the two Districts.
COMPANY DESCRIPTION
Active Energy Group (AEG) is an international, vertically-integrated forestry management and renewable resource energy provider. The group combines management of forestry resources with the commercial development of a proprietary solution (CoalSwitch™) to the integration of wood-based (biomass) fuel into existing coal-fired thermal power plants.