30th Jul 2024 10:56
Georgina Energy PLC - developing onshore helium, hydrogen and hydrocarbon prospects in Western Australia and Northern Territory - Acquisition vehicle Mining Minerals & Metals PLC completes reverse takeover of Georgina and re-lists on London Main Market. Buys Georgina for GBP5 million in shares and also raises GBP5.0 million from the placing of 40.0 million shares at 12.5 pence each. Has 90.1 million shares on admission, giving the company an opening market capitalisation of GBP11.2 million at the issue price.
Georgina Energy has two principal onshore interests in Australia, held through wholly owned Australian subsidiary Westmarket O&G. It has a 100% working interest in the Hussar prospect, located in the Officer Basin in Western Australia. It also has a right to earn a 75% to 90% interest in the Mount Winter prospect in the Amadeus Basin of the Northern Territory.
"The company continues to progress with highly opportune and low-risk projects in Australia and, upon listing, the favourable market conditions offer a promising outlook for a top-tier hydrogen and helium production company with a strong global presence," says Chief Executive Officer Anthony Hamilton.
By Tom Waite, Alliance News editor
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