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MetalNRG building a broad portfolio of commodity assets

Last updated: 08:20 09 Feb 2024 GMT, First published: 14:31 21 Sep 2023 BST

Snapshot

  • MetalNRG raises funds with a loan note issue
  • MetalNRG "putting the past behind it" with renewed focus on mining
Gold

About the company

MetalNRG PLC is a natural resources investing company seeking investments in precious and strategic metals.

The company creates shareholder value through two divisions; a Direct Investment division and an Indirect Investment division.

How it is doing

09 Feb 2024

MetalNRG PLC (LSE:MNRG) told investors it has raised £223,000 of new funds through the issue of convertible loan notes.

The notes carry interest of 15% per year and are convertible either in two years’ time or upon any reverse takeover transactions.

In January, the company reached an out-of-court settlement with BritENERGY Holdings LLP, BritNRG Limited and Pierpaolo Rocco. The formal agreement marks the end of ongoing and potential litigation, including those in the High Court and the Scottish Employment Tribunal.

In a short press release, MetalNRG said BritENERGY Holdings LLP has committed to paying it £20,000 as a contribution to legal costs.

24 Jan 2024

MetalNRG PLC (LSE:MNRG) said it has reached an out-of-court settlement with BritENERGY Holdings LLP, BritNRG Limited and Pierpaolo Rocco.

The formal agreement marks the end of ongoing and potential litigation, including those in the High Court and the Scottish Employment Tribunal.

09 Nov 2023

MetalNRG PLC (LSE:MNRG) executive director Rolf Gerritsen told investors the explorer is delighted with results from soil sampling at the Gold Ridge property, in Arizona, where it has confirmed a ‘real gold and wider opportunity’.

The explorer, in a statement, said that soil geochemistry shows evidence for multiple geologic events including: strong gold, copper, lead and zinc mineralization related to the Mascot Stock prospect.

What management says

29 Sep 2023

 

MetalNRG PLC (LSE:MNRG) Executive Director Rolf Gerritsen speaks to Thomas Warner following a flurry of announcements from the natural resources investing company, which he suggests amount to MetalNRG "putting the past behind [it]."

The company has this week published not only a half-year report but also an update on its strategic business review, after a "very rough patch" for the business. Gerritsen says that senior management have been focusing in recent months on determining where the best growth opportunities are likely to come from, and have concluded that mining is the answer.

MetalNRG "putting the past behind it" with renewed focus on mining

  MetalNRG PLC (LSE:MNRG) Executive Director Rolf Gerritsen speaks to Thomas Warner following a flurry of announcements from the natural resources investing company, which he suggests amount to MetalNRG "putting the past behind [it]." The company has this week published not only a...

on 29/9/23