30 July 2024

Mining, Minerals & Metals plc (to be re-named Georgina Energy plc)

("Georgina" "Georgina Energy" or the "Company")

Completion of acquisition of Georgina Energy plc

and

Enlarged share capital admitted to trading on the London Stock Exchange

Mining Minerals & Metals plc is pleased to announce the completion of its acquisition of Georgina Energy Plc ("Georgina") and the admission of its enlarged share capital of 90,088,396 ordinary shares of 5 pence each ("Ordinary Shares") at an issue price of 12.5 pence each ("Issue Price") to trading on the Official List and the London Stock Exchange from 8:00a.m. on 30 July ("Admission") under the name "Georgina Energy Plc", which will be effective once processed by Companies House and the TIDM code "GEX".

Tavira Financial Ltd is acting as Financial Adviser and Joint Broker to the Company alongside Oak Securities (a trading name of Merlin Partners LLP) who are acting as Joint Broker to the Company.

Admission Highlights

·      Successful fundraise of £5.0 million (before expenses) through the issue of 40,000,000 Ordinary Shares at the Issue Price

·      On Admission and based on the Issue Price, the Company will have a market capitalisation of approximately £11.2 million.

·      Georgina is an early-stage well redevelopment company which has a strategy of actively pursuing the exploration, commercial development and monetisation of helium, hydrogen and hydrocarbon interests located in Australia.

·      The Board believes there is a clear and realistic pathway to production with drilling expected to commence in Q4 2024.

Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:

"We are delighted to have successfully delivered Georgina Energy to the Main Market of the London Stock Exchange whilst also raising £5.0 million. 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.

We believe Georgina Energy has the potential to be a leading player in the energy market and we are incredibly excited for the future of the company. I would like to thank everyone involved thus far and look forward to continuing to work with all our stakeholders as we embark on this exciting journey."

About Georgina Energy

Significant Gas Potential

Georgina holds 100% of the working interest in the Hussar Prospect and has a right to earn  a  75%  interest  in  the  Mount  Winter  Prospect  (with  the  potential  to  reach  90%) covering 3,951 Km² held over the two project areas in Western Australia, a proven region with significant gas potential.

Hussar Prospect

The Hussar Prospect hosts unrisked 2U Prospective (Recoverable) Resources of c.155 BCFG (155 million MCF) of Helium and c.173 BCFG (173 million MCF) of Hydrogen, and c.1.75 TCFGE of Hydrocarbons.

Hussar is considered by independent consultants to be one of the most potentially lucrative resource basins in the Asia Pacific region due to its significant helium, hydrogen, oil & natural gas potential.

Subject to permitting and processing of additional seismic and AEM-PTP surveys, Georgina anticipates re-entering and deepening Hussar during 2024.

Mount Winter Prospect

The Mount Winter Prospect hosts unrisked 2U Prospective (Recoverable) Resources of c.148 BCFG  (148  million  MCF)  of  helium  and  c.135  BCFG  (135  million  MCF)  of  hydrogen,  and  c.1.22  TCFGE (Trillion Cubic Feet Equivalent) of hydrocarbons.

The Mt Winter-1 well was drilled in 1982 to a depth of 2,650m TD but did not penetrate the subsalt Heavitree Formation hydrogen, helium & natural gas reservoir target but reached TD in salt just above it. All 3 previously drilled wells have penetrated the Heavitree and encountered high concentrations of helium (up to 9%) and hydrogen (up to 11%).

Georgina has an initial programme to complete seismic and then re-enter the existing well to develop the gases. 

Highly Experienced Management Team

The Board is comprised of experienced professionals in the oil & gas exploration space with technical capacity and an expert understanding of development and sales. Anthony Hamilton (Chief Executive Officer) has over 35 years' extensive experience in mining, oil & gas and exploration and production.  Mark Wallace (Chief Finance Officer) has over 25 years' experience in the global financial markets. John Heugh (Executive Technical Director) has over 50 years' of experience and was the founding director and MD of Central Petroleum Ltd listed on the ASX. Roy Pitchford (Non-Executive Director) brings over 30 years' executive and managerial expertise during his career in the resource development area.

Differentiated and Low Risk

Georgina adopts a low risk, differentiated strategy and is already well advanced in its exploration activities in relation to its UK peer group as it is essentially a well re-redevelopment company. There is proven gas flowing from the original drilled wells, established infrastructure for the projects as well as a recognised supply chain. Both target sites have previously been drilled and the road access remains usable. Georgina intends to supply from the wellhead under off-take agreements to mitigate infrastructure costs. Given the established infrastructure and reliable supply chain, the Board and management team are aiming for Georgina to become a leading global producer of helium and hydrogen.

Helium Market Dynamics

Georgina gives investors a chance to benefit from supply and demand dynamics. There is a global short supply of helium and significant increases in demand, including space launch usage, has led to further price increases.

Change of Name

The Company's change of name to "Georgina Energy Plc" will take place once Companies House has issued a new certificate of incorporation reflecting the change of name. The change of name is expected to become effective imminently and the Company will make a further announcement following the completion of the change of name.

The Company's website is www.Georginaenergy.com

Total Voting Rights and Change of ISIN

Following Admission, the Company will have 90,088,396 Ordinary Shares in issue. In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's enlarged issued ordinary share capital will comprise 90,088,396 Ordinary Shares. The Company does not hold any Ordinary Shares in Treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.

The Company ISIN has changed to GB00BSMN5L80 and the previous ISIN GB00BF7L9148 is expired following the share consolidation effective on Admission.

END

Enquiries

Georgina Energy

Tavira Financial Ltd - Financial Adviser and Joint Broker

Oak Securities - Joint Broker

Camarco - Financial PR

Notes to Editors

Georgina Energy aims to become a leading player in the global energy market and is focused on establishing itself among the top producers of helium and hydrogen worldwide. With a strategic approach and leveraging the experienced management team's expertise, Georgina Energy aims to capitalize on opportunities in these critical energy sectors.

The projects benefit from established infrastructure and a reliable supply chain, offering significant resource potential through low-risk, cost-effective drilling projects.

Georgina Energy has two principal onshore interests held through its wholly owned Australian subsidiary, Westmarket O&G.  The first, the Hussar Prospect is located in the Officer Basin in Western Australia and Westmarket O&G holds a 100% working interest in the exploration permit.  The second, the Mount Winter Prospect, is located in the Amadeus Basin in the Northern Territory, which Georgina Energy has a right to earn an initial 75 per cent. interest in (with the potential to reach 90 per cent.).

In line with market demand trends, Georgina Energy is well-positioned to capitalize on the growing gap between supply and demand for hydrogen and helium with the resource potential of Mount Winter and Hussar projects for their potential accumulations.

For more information visit https://www.georginaenergy.com