Corcel (CRCL)

Sector:

Mining

Index:

FTSE AIM All-Share

 0.43p
   
  • Change Today:
      0.000p
  • 52 Week High: 2.00
  • 52 Week Low: 0.38
  • Currency: UK Pounds
  • Shares Issued: 524.88m
  • Volume: 7,653,846
  • Market Cap: £2.23m
  • RiskGrade: 424

Regency and Legacy Hill form joint-venture to handle acquisitions

By Duncan Ferris

Date: Tuesday 27 Feb 2018

LONDON (ShareCast) - (ShareCast News) - Regency Mines announced on Tuesday that it has executed a joint-venture (JV) agreement with privately-owned mining company Legacy Hill Resources.
Natural resource exploration and development company Regency said the purpose of the JV is the financing and structuring of acquisitions in the US metallurgical coal sector, and their subsequent management and operation.

Saradhi Rajan, managing director of Legacy Hill Resources, said: "Metallurgical coal has an important and irreplaceable role in the manufacture of steel. The USA has an important role to play in meeting global demand for high quality premium metallurgical coal. Together with Regency Mines we will be building a portfolio of low cost operations all with excellent access to infrastructure."

Legacy Hill will be responsible for the day to day management of the JV's operations and will own 30%, reflecting its role in financing, investing and managing the acquisition.

Regency will own 70% of the JV, equal to its proportion of its cash contributions.

Andrew Bell, chairman of Regency Mines, said: "We have been working with our colleagues at Legacy Hill over the last year with a joint venture in mind, and we now agree it is appropriate to formalise the structure. We expect Legacy Hill's cost-effective mine management to create a sound foundation for a growth strategy in metallurgical coal."

Regency and Legacy Hill have carried out due diligence in relation to the company's option to acquire the 80% of the Rosa metallurgical coal mine and treatment plant that is not already owned by Regency, and are now speaking to shareholders and reviewing information.

As of 1534 GMT, Regency Mines' shares were up 7.37% at 0.51p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Corcel Market Data

Currency UK Pounds
Share Price 0.43p
Change Today 0.000p
% Change 0.00 %
52 Week High 2.00
52 Week Low 0.38
Volume 7,653,846
Shares Issued 524.88m
Market Cap £2.23m
RiskGrade 424

Corcel Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.12% above the market average33.12% above the market average33.12% above the market average33.12% above the market average33.12% above the market average
20.97% above the sector average20.97% above the sector average20.97% above the sector average20.97% above the sector average20.97% above the sector average
Price Trend
95.36% below the market average95.36% below the market average95.36% below the market average95.36% below the market average95.36% below the market average
87.41% below the sector average87.41% below the sector average87.41% below the sector average87.41% below the sector average87.41% below the sector average
Income Not Available
Growth Not Available

Corcel Dividends

No dividends found

Trades for 16-Aug-2022

Time Volume / Share Price
16:13 27,368 @ 0.40p
14:23 921,376 @ 0.42p
14:08 250,000 @ 0.42p
13:16 82,071 @ 0.42p
12:06 22,831 @ 0.44p

Corcel Key Personnel

CEO Scott Christopher Kaintz

Top of Page