3rd Mar 2020 15:24
(Alliance News) - Regency Mines PLC on Tuesday confirmed the submission of the electricity grid application form for its first project in Southport.
Regency Mines explained that the application sets out the electricity connection details to ensure connection is properly designed and compliant with network requirements.
The application form contains details of the planned generating units, including their specifications, and information on the proposed equipment to be associated with the site.
Regency Mines said, following the application, it expects to receive an offer for the connection, which will specify the conditions, the type of connection approved as well as any associated connection charges.
The natural resource exploration and development company said it expects financial close of the project in mid-2020, with maiden revenue by the end of the year.
"Application for the grid connection is a critical step forward towards financial close at our first project in Southport. With this key objective now completed, the company remains on target for maiden revenue by end of 2020," said Chief Executive Scott Kaintz.
AIM-listed Regency Mines shares were trading flat in London on Tuesday at 2.10 pence each.
By Evelina Grecenko; [email protected]
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