TIDMGUN
RNS Number : 8347M
Gunsynd PLC
16 January 2023
Gunsynd plc
("Gunsynd" or the "Company")
New Investment - Aberdeen Minerals
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it
has invested GBP150,000 into Strategic Minerals Europe Ltd, the
parent company of Aberdeen Minerals Ltd (together "Aberdeen"), a UK
company exploring for Nickel-Copper-Cobalt deposits in North East
Scotland, as part of a private funding round supported by new and
existing shareholders and the Board of Aberdeen.
The investment in Aberdeen was executed on the following terms:
subscription for 2,000,000 ordinary shares at 7.5 pence per share
for a total consideration of GBP150,000 from the Company's existing
cash resources ;
Gunsynd's investment is a part of a GBP1.1 million capital
raising supported by new and existing investors and the Board of
Aberdeen.
-- Gunsynd will hold approximately 2.75% of the issued share
capital of Aberdeen following this capital raising ;
-- Immediately following this capital raising Aberdeen will have
72,856,531 Ordinary shares in issue ;
-- Subject to the approval by Aberdeen's shareholders, a further
2,933,332 Ordinary shares are expected to be issued to founding
shareholders and the directors of Aberdeen, resulting in an
expected total issued share capital of 75,789,863 ordinary shares,
of which Gunsynd plc would hold 2.64%, and a pro-forma equity
valuation of GBP5.7 million;
-- Aberdeen will utilise the funds for:
o diamond drilling programme at the flagship Arthrath
Project
o downhole geophysics
o development of its land portfolio
o general exploration and working capital requirements.
-- Aberdeen has plans for an IPO on either the ASX or AIM market
(s) targeted during 2023 subject to favourable market
conditions.
-- For the year ended 31 March 2022, Aberdeen had turnover of nil and made a loss of GBP426,548.
About Aberdeen Minerals Ltd:
North East Scotland is a district scale opportunity for
nickel-copper-cobalt sulphide exploration, which has attracted
major mining companies - including Rio Tinto and Inco - in past
decades to this part of Scotland. The UK currently has no domestic
production of nickel, copper or cobalt and has a renewed focus on
maximising its own home grown potential to produce minerals
essential to the energy transition including the publication in
July 2022 of the UK Government's first ever Critical Minerals
Strategy.
Aberdeen has recently flown phase one of an airborne
electromagnetic ("EM") and magnetic geophysical survey in
North-East Scotland. Initial findings are being used to assist
drill targeting at the Arthrath Project, and also assess a target
pipeline across the broader district.
At Arthrath, a historical estimate of 17 million tonnes grading
0.21% Ni and 0.14% Cu (not JORC compliant; see Note 1 below) has
been reported at one of several mineralized zones on only a small
portion of a 7 kilometre feeder dyke structure which remains
largely untested by effective drilling. Aberdeen is particularly
interested in targeting higher grade zones within the system that
have previously been reported.
Aberdeen's plans for Arthrath include a diamond drilling
programme to validate historical results and outline a JORC
Exploration Target (specified range of tonnage and grade) ahead of
a potential IPO which would seek funds to drill out an initial
resource and follow up on the regional EM targets.
Aberdeen believes it has established a first-mover land position
over the past 4 years that is difficult and costly to replicate,
positioning Aberdeen as a credible base metals explorer in
Scotland.
More information can be found on Aberdeen's website:
www.aberdeenminerals.com
Peter Ruse, a director of Gunsynd, commented: "Gunsynd is
pleased to have the opportunity to add this exciting Nickel, copper
and cobalt exploration company to its portfolio. Aberdeen offers
exposure to key critical metals (Nickel, Copper, Cobalt)
exploration in the United Kingdom amongst a strong backdrop of
fundamental drivers for the underlying commodities and policy
change in the UK. Aberdeen has an experienced Board of directors
and UK based management team who we believe have demonstrated value
creation in past and present company roles. We are very excited by
the active exploration programmes which will be carried out on the
Aberdeen projects kicking off early in 2023."
Note 1
Tonnage and grade estimates are historical in nature, uncertain
and have not been reported in accordance with the JORC Code
(2012).
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the Company's ability to execute
and implement future plans, and the occurrence of unexpected
events. Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.
For further information please contact:
Gunsynd plc
Hamish Harris/ Peter Ruse +44 (0) 78 7958 4153
Cairn Financial Advisers LLP
James Caithie / Liam Murray +44 (0) 20 7213 0880
Peterhouse Capital Limited
Lucy Williams +44 (0) 20 7469 0936
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCGZGMMGVFGFZM
(END) Dow Jones Newswires
January 16, 2023 05:09 ET (10:09 GMT)
Gunsynd (AQSE:GUN)
Historical Stock Chart
From Apr 2024 to May 2024
Gunsynd (AQSE:GUN)
Historical Stock Chart
From May 2023 to May 2024