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 £5 million in shares and also raises £5.0 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 £11.2 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.
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