North River Resources plc
Company Name:North River Resources plc Minimum fundraise:£ 0* High Share Price Bid:£ 0.04
Business Sector:Mining and quarrying Total Funds Bid to Date:£ 17,630 Low Share Price Bid:£ 0.04
Auction period:26 Oct 2017 - 31 Jan 2018 Indicative Share Price:0.00p Average Share Price Bid:£ 0.04**
*The company will accept oversubscription.
**In the event of significant oversubscription, shares will be allocated to bids at the average price and above.
NOTE: ASSET MATCH HAS NEGOTIATED AN “ASSET MATCH INVESTOR BONUS” FOR INVESTORS IN THIS TRANSACTION. SEE THE “OVERVIEW” SECTION BELOW FOR DETAILS.

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North River Resources plc

North River Resources plc

Market Cap: £923,741 Auction period: 26 Oct 2017 - 31 Jan 2018 Indicative price: 0.00p

Current indicative price N/A


BUY ORDERS SELL ORDERS

Buyers Shares Wanted Total Wanted Share Price (p)
2 17,630 17,630 3.50
       
Share Price (p) Total Offered Shares Offered Sellers
3.50 -- -- --
       

BUY ORDERS

SELL ORDERS

Buyers Shares Wanted Total Wanted Share Price (p) Total Offered Shares Offered Sellers
2 17,630 17,630 3.50 -- -- --
             

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Company info

North River Resources Plc ("North River") is a mineral exploration and development company active in Namibia and Mozambique with headquarters in London. The Company is focused on reopening its flagship asset, the Namib Lead & Zinc Mine near Swakopmund in Namibia and is targeting commencement of production in the near term. The company was recently granted its Mining Licence from the Namibian Ministry of Mines & Energy.

The Namib Project has a JORC compliant underground Mineral Resource of 1.12m tonnes grading 6.6% Zn, 2.3% Pb and 46 g/t Ag. In addition, the old tailings dump contains a JORC resource of 610k tonnes grading 2.1% Zn. The original 2014 feasibility study has recently been updated, following several optimisation studies including metallurgical testwork, process plant designs and underground mine development.

The proposed new development program highlights the extraction of 885kt ore containing 6.5% Zn, 2.4% Pb and 47g/t Ag over an 8 year mine life.

Key Points:

  • Advanced lead, zinc and silver project in Namibia offers high-value production potential in the short-term
  • Significant Namibian exploration landholding offers expansion and discovery potential
  • Ongoing exploration programmes target lead, zinc, silver and copper deposits
  • JORC compliant copper resources have been reported at two of its exploration projects
  • Excellent support infrastructure and services exist in Namibia
  • North River has a highly qualified board and management team providing a wealth of commercial and operational experience
  • NRR is in a JV with Baobab Resources in Moz to develop the project, allowing NRR to focus on its core Namibian projects

Auction details

North River Resources Plc was admitted to trading on Asset Match on 27 March 2017 at a price of 2.75 pence per share.

It is intended that the first auction will be held on Wednesday 26 April 2017. Thereafter auctions will be held quarterly and close at 4pm on the last Wednesday of each month (unless stated otherwise).

Participants can send orders via their existing broker or directly to The Share Centre. Further details can be found by clicking on the "Auction instructions" section below.

Auction Price History

Auction instructions

To buy and sell shares in this company via AM Private Market, you will need to use a stockbroker.

  • Using The Share Centre

The Share Centre is the preferred broker and settlement agent for all CREST eligible companies on AM Private Market. The Share Centre offers a competitively priced service for both certificated and non-certificated transactions. For more information on The Share Centre's services or how to place an order please visit their page. If you do not already have an account with The Share Centre, then you can open an account online or by calling 01296 41 41 41.

Alternatively, if you are interested in selling your shares and are unsure what to do next please read our Auction instructions for Sellers with additional FAQs. You can download the 'Selling shares traded on Asset Match' form here.

You can place orders with The Share Centre by calling 01296 41 42 43.

  • Using another stockbroker

If you already have a stockbroker (or an in-house dealing team if you are an institutional investor) then you can place an order by instructing your broker to face The Share Centre. Not all stockbrokers will be able to act on your behalf, and so you should check with them first. You may also incur additional fees.

When buying and selling shares, please note that the Asset Match levy of 3% applies, with a minimum charge of £20 per trade.

The tick size for this company is 0.05 pence per share.

For more information on how the auction works then please click here

Key People

James Beams Chairman

James Beams joined North River having previously spent 14 years with Anglo American plc. For his final five years at Anglo American he was the Chief Financial Officer for the Copper division, and prior to that served in several senior management positions within the company. Prior to his time at Anglo American, he held senior finance roles at Minorco and Commercial Union.

   

Dag Kullmann Managing Director

Dag Kullmann is a mining engineer with 28 years' experience in the mining industry, predominantly in Southern Africa. Before joining North River Resources in 2017, he spent 10 years in Namibia with the Forsys Metals Group of Companies, initially as project and mining manager, then also its general manager. Prior to this, Dag spent 18 years in South Africa, first working in the Wits gold fields and finally 8 years consulting with Snowden Mining Industry Consultants on a wide variety of commodities across Africa and further abroad. He acted as Qualified Person for several large and small mining companies for the completion of technical studies, reserve reporting, operational audits and listing documentation for a number of international stock exchanges.

   

Mark Thompson Non-Executive Director

Mark Thompson is the executive Chairman of Treliver Minerals Ltd, a UK company developing Tin mining projects in England and Germany. He is a non-executive Director of TSX-V listed Margaret Lake Diamonds Inc as well as holding a number of other directorships in private companies engaged in mineral exploration. He is a former Chief Investment Officer and co-founder of Galena Asset Management Ltd, the fund management arm of Trafigura Beheer b.v., and partner at Apollo Management, one of the world's largest alternative asset managers. Mark holds a masters degree in Physics from Oxford University.

   

Mark Sawyer Non-Executive Director

Mark Sawyer is a Senior Partner at Greenstone Capital LLP and a co-founder of Greenstone Resources LP ("Greenstone"), the private equity fund. Mark co-founded Greenstone in 2013 after a 18 year career in the mining sector including as co-head of group business development at Xstrata plc, and senior roles at Rio Tinto plc and Cutfield Freeman & Co Ltd. Together with Greenstone's co-founder, Mark oversees all aspects of the management of the business. He serves as a director of Greenstone Management Ltd, the fund's General Partner, and is a member, and co-Chairman of the Investment Committee.

   

Ken Sangster Non-Executive Director

Ken Sangster was trained as a metallurgist and has 49 years' experience in the mining industry in a number of highly successful project development / project management roles ranging in project size from USD20M to USD600M. He previously worked in numerous senior roles for Rio Tinto plc for over 15 years, as well having metallurgy focused project development roles for Anglo American PLC, Consolidated Gold Fields, Outokumpu Metals and Resources, TVX Gold and Ivernia plc. He is also a Fellow of the Institute of Directors.