• Zak Mir talks to Chris Chadwick, Chief Executive Officer of MetalNRG

  • Oct 23 2024
  • Length: 6 mins
  • Podcast

Zak Mir talks to Chris Chadwick, Chief Executive Officer of MetalNRG

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  • Summary

  • Zak Mir talks to Chris Chadwick, CEO of MetalNRG, in the wake of last week’s announcement that it has signed a binding sale and purchase agreement to acquire the entire issued share capital of Compagnie Minière de Oumejrane from Managem S.A.

    The Acquisition will include 100% ownership of the Oumejrane copper mine, which is in production, cash generative and profitable in the Eastern Anti-Atlas of Morocco. OMF Fund IV SPV K LLC, a fund managed by Orion Resource Partners, has entered into a US$25,000,000 convertible loan note with MetalNRG, the proceeds of which will be used by MetalNRG to complete the Acquisition.

    Christopher Chadwick, Chief Executive Officer of MetalNRG, commented:

    “We are delighted to have reached agreement with Managem to acquire Compagnie Minière d’Oumejrane, with financing support from Orion. This will be a transformational transaction for the Company, giving us 100% equity ownership of a fully operational, producing and profit generating copper mine. Beyond the immediate gains, this strategic move opens the door to substantial upside potential and a wider relationship with the Managem Group. We are working to expedite completion of the Acquisition as soon as possible and look forward to providing further updates in due course.”

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