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Terra Metals Inc. and Tonawanda Group Inc. Launch Strategic Exploration Alliance Across Zambia’s Copper-Gold Belt – Drilling Campaign to Commence at Mumbwa as Terra Metals Inc. Prepares New Disclosure on Mwinilunga Geological Corridor

WILMINGTON, Del. and CHARLOTTE, N.C. and LUSAKA, Zambia, Sept. 17, 2025 (GLOBE NEWSWIRE) — Terra Metals Inc., a Delaware–registered mineral development company, has entered a strategic technical collaboration with Tonawanda Group Inc. (TGI), a North Carolina– registered exploration and investment company, to jointly advance large–scale copper and gold assets in Zambia. The collaboration begins with activity in the Mumbwa District and is expected to expand into the geologically significant Mwinilunga corridor.

Through its wholly owned Zambian subsidiary, Tonawanda Procurement Ltd. (TPL), TGI currently holds a 6,688–hectare exploration license (35384–HQ–LEL) in the Mumbwa region, adjacent to Luiri Gold’s Dunrobin–Matala deposit, which hosts over 1 million ounces of gold.

Mumbwa: Drill–Ready IOCG–Gold Corridor

Exploration work conducted by TPL and its technical partners has outlined a series of highly prospective features:

Magnetics:

  • Analytical signal highs, RTP anomalies, and vertical/horizontal derivatives aligned with the Hook Granite–Mwembeshi shear system

Geochemistry:

  • Gold values up to 1.99 g/t Au, with over 50% of samples exceeding 0.5 g/t
  • Copper values peaking at 311 ppm, with pit assays returning 2.8% Cu

Structural observations:

  • Brecciated shale–sandstone contacts, quartz vein mineralization, and widespread copper oxide minerals (malachite, azurite, chrysocolla)

“These aren’t random anomalies—they’re classic IOCG signatures nested in the right structural corridor,” said Katangwa Mushinge, Commercial & Business Development Manager of TGI. “Our drill rig is being commissioned in the coming days, and we will follow up with a detailed announcement as soon as it’s on site.”

Operational Readiness: Drill Commissioning Underway

Tonawanda Procurement Ltd. and Terra Metals Inc. are preparing to launch a fully independent exploration campaign utilizing a newly acquired diamond drill rig rated to over 1,200 meters depth.

“We are now not just compliant—we are competitive,” said Garth Chibangu, Procurement Manager at Tonawanda Procurement Ltd. “Owning and deploying this rig is a game changer. It gives us full control over exploration logistics, costs, and timelines. We drill where the data leads us.”

Mwinilunga: Geological Frontier Under Terra Metals Inc.

Terra Metals’ recently granted Large–Scale License in Mwinilunga, Northwestern Zambia, lies within a structurally complex belt characterized by folded basement domes, fluid conduits, and granite–hosted mineral systems.

“The geological potential at Mwinilunga is quietly extraordinary,” said Mumena Mushinge, Chairman of Terra Metals Inc. “We’re finalizing our interpretation maps now and will release a full technical overview shortly. This partnership gives both companies momentum on two fronts.”

Strategic Partnership: Collaboration Across Licenses

Under the partnership agreement, TGI and Terra Metals Inc. will:

  • Share geophysical and drilling resources
  • Exchange geological and geochemical data
  • Coordinate trenching, logging, and exploration modeling
  • Release joint updates and co–develop exploration milestones

About the Companies

Tonawanda Group Inc. (TGI) is a North Carolina–registered mineral exploration company focused on building high–value copper and gold assets in Africa. TGI operates in Zambia through its subsidiary Tonawanda Procurement Ltd. (TPL).

Terra Metals Inc. is a Delaware–based mineral and energy company advancing copper, gold, and cobalt projects across Zambia.
Terra Metals is a proud affiliate of the Africa America Resources Group, dedicated to bridging U.S. investment and African resource development.

**Media Contact:**
Savena Donohue Investor Relations
[email protected]
+1 (443) 362–9102

**Zambia Office:**
[email protected]
+260 973 104 044


GLOBENEWSWIRE (Distribution ID 9530752)

Terra Metals Inc. Announces Strategic Equity Investment Partnership with Investment Bank of Africa and Nalolo Solar Power Energy Company (NASPEC)

LUSAKA, Zambia, Sept. 14, 2025 (GLOBE NEWSWIRE) — Terra Metals Inc. is proud to announce a landmark strategic equity investment partnership between the Investment Bank of Africa (IBA) and the Nalolo Solar Power Energy Company (NASPEC). This collaboration represents a pivotal step in advancing the Nalolo Solar Project, a major initiative driving Zambia’s renewable energy transition.

Terra Metals Inc. holds vested interests in the Nalolo Solar Project through its principal shareholders, who are also shareholders in NASPEC, underscoring the company’s long–term commitment to fostering sustainable economic growth and supporting Zambia’s clean energy agenda.

“We are thrilled to announce this strategic partnership, which represents a major step forward for the Nalolo and Lukulu Solar Projects,” said Brian Chisala, Executive Director of Terra Metals Inc.

“This collaboration highlights our commitment to delivering clean energy solutions while advancing Zambia’s sustainable development goals,” added Mushinge Mumena, Chairman of Terra Metals Inc.

Robert Solomon, Chief Financial Officer of the Investment Bank of Africa (IBA), stated: “This investment reflects IBA’s strategy of channeling capital into high–value, sustainable infrastructure projects that generate strong financial returns while mitigating long–term risks. The Nalolo Solar Project is underpinned by solid fundamentals, rising energy demand, and government support, ensuring both profitability for stakeholders and measurable socio–economic impact for Zambia.”

“This partnership is a defining moment for NASPEC and Zambia’s renewable energy journey. With IBA’s strategic investment and Terra Metals’ vested interests, the Nalolo Solar Project is positioned to deliver clean, reliable, and affordable power while creating employment, driving industrial growth, and enhancing climate resilience,” said Dr. Victor Ryan, Chairman of NASPEC.

The Nalolo Solar Project is expected to play a transformative role in Zambia’s energy transition, driving economic growth, expanding employment opportunities, strengthening energy security, and supporting the country’s climate and sustainability commitments.

MEDIA CONTACTS:
Terra Metals Inc.
Email: [email protected]
Phone: +1 (980) 349–3883
Website: www.terrametalsinc.com


GLOBENEWSWIRE (Distribution ID 9528664)

Stonecoal SA Submits Bid for Mozambique’s Major Revuboè Coal Concession Following Government Revocation — Stonecoal SA

MAPUTO, Mozambique, Sept. 12, 2025 (GLOBE NEWSWIRE) — Stonecoal SA, represented by SVS CONSULTANTS FZCO, today announces the formal submission of its operational plan to develop the Revuboè basin’s multi–billion–dollar coal concession (4064C). This timely move follows the Mozambican government’s June 2024 decision to revoke the concession, previously held by Australian company Minas de Revuboè (MdR) for over a decade, due to inactivity and regulatory non–compliance.

Photo Courtesy of SVS Consultants

MdR, which first obtained the concession in 2013, remained inactive for more than ten years. In May 2024, MdR attempted to sell a 92% stake in the asset to India’s JSW Steel for $74 million—an action that reportedly breached Mozambique’s Mining Law, which prohibits transferring licenses without prior government approval. As a result, the Ministry of Mineral Resources and Energy formally withdrew MdR’s rights, underscoring Mozambique’s commitment to transparent governance and lawful management of major resources.

Responding to this opportunity, Stonecoal SA—a Mozambican mining firm—submitted its new operational plan in August 2024, aiming to re–activate the Revuboè site in line with government priorities for economic revitalization. The company emphasizes its commitment to responsible mining, best practice standards, and full regulatory compliance. Additionally, Stonecoal SA clarifies that none of its directors are affiliated with Vulcan (Jindal), in response to recent media reports.

A Council of Ministers resolution from July 2024 sets out the government’s reasons for withdrawing the former license: “lack of exploration works” and an unauthorized attempted transfer. In place of a transfer, a new concession was opened to Mozambican firms via a compliance–driven proposal process—a step reflecting the government’s proactive approach to reactivating dormant concessions and boosting national development.

Currently, Mining Concession 4064C remains unassigned in Mozambique’s official database, with Stonecoal SA’s proposal under review by authorities. While Stonecoal confirms the timely submission of its application, it will not provide details of any ongoing legal matters concerning the concession, in line with international media and newswire standards.

The mining sector news unfolds as Mozambique also manages a high–profile $120 million arbitration claim in France from ETG Group, linked to seized agricultural exports involving GMO compliance. This and the coal concession bid underscore Mozambique’s current efforts to balance investor confidence, regulatory modernization, and economic growth.

SVS CONSULTANTS FZCO is the official communications partner for Stonecoal SA, ensuring full transparency and accurate disclosure to stakeholders.

About Stonecoal SA
Stonecoal SA is a Mozambican mining company dedicated to responsible development of the country’s natural resources, focusing on sustainable mining, community engagement, and regulatory compliance.

Contact Information: SVS CONSULTANTS FZCO
Contact Person's Name: Mr. Haroon Rashid
Organization: SVS CONSULTANTS
Phone Number: +97154 541 3354

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c64f123b–61ec–459a–a227–e02405d65c99


GLOBENEWSWIRE (Distribution ID 9528210)

Namib Minerals Provides Corporate Update

NEW YORK, July 31, 2025 (GLOBE NEWSWIRE) — Namib Minerals (“Namib Minerals” or “the Company”), (Nasdaq: NAMM), an established African gold producer with a portfolio of mining and exploration assets in Zimbabwe and the Democratic Republic of Congo, is pleased to provide a corporate update after closing the business combination with Hennessy Capital Investment Corp. VI and listing on the Nasdaq Stock Exchange under the ticker symbol NAMM. The Company also recently rang the Closing Bell at the Nasdaq Stock Exchange on July 25, 2025.

Namib Minerals Rings the Nasdaq Closing Bell
Photo Courtesy of Nasdaq, Inc.

Ibrahima Sory Tall, Chief Executive Officer, stated “This achievement marks more than a change in our corporate structure – it is a validation of our vision. The transaction facilitates access to strategic partnerships necessary to advance our mission of becoming a leading, multi–asset producer of gold and green minerals. We believe Namib Minerals is ready to become a leader of Africa’s next generation of globally significant mineral producers.”

Strategic Growth and Asset Development

Namib Minerals’ foundation is built on a portfolio of cash–generating assets. Its anchor operation, How Mine in Zimbabwe, is a fully producing underground gold mine that generated 36.6 koz of gold and approximately US$86 million in revenue in 2024. With a strong operational track record and existing infrastructure, and assuming sufficient funding is obtained, Namib Minerals believes How Mine is well positioned for expansion. The Company is actively planning to increase the current production capacity to unlock additional value.

Alongside How Mine, the Company is advancing restart plans for the Mazowe and Redwing mines in Zimbabwe. These assets are undergoing enabling works, with the expectation of returning both to production in the near term. Dewatering at Redwing is expected to begin this fiscal year, with parallel infrastructure upgrades continuing at Mazowe.

As of December 31, 2023, Namib Minerals’ three gold assets have a substantial mineral endowment of 1.6Moz of gold in measured and indicated reserves at an average grade of 3.92 g/t Au, and an additional 2.4Moz in inferred resources at 3.57 g/t Au.

In addition to optimizing and restarting existing operations, Namib Minerals expects to organize a series of feasibility studies to facilitate discovery of increased reserves and resources across all three projects. These studies are expected to form the technical foundation for future expansion and help underpin the Company’s long–term production profile.

The Company’s exploration portfolio in the Democratic Republic of Congo comprises an interest in 13 exploration permits targeting copper and cobalt – two critical minerals essential to the global energy transition. This marks an important part of diversifying Namib Minerals’ commodity base while maintaining exposure to structurally robust markets.

Commitment to Operational Excellence, and Shared Prosperity

Namib Minerals operates according to leading international standards, with ISO 14001, 9001, and 45001 certifications for environmental responsibility, quality, and occupational health and safety. The Company is committed to maintaining these standards as it expands, helping to ensure that all new sites operate under its established Operational Excellence framework aligned with these ISO certifications.

Such framework also includes Sustainability, with environmental best practices, and Shared Prosperity, through continuous partnerships with our local communities and governments.

About Namib Minerals

Namib Minerals (NASDAQ:NAMM) is a gold producer, developer and explorer with operations focused in Zimbabwe. Namib Minerals is a significant player in Africa’s mining industry, driving sustainable growth and innovation across the sector. Currently Namib Minerals operates the How Mine, an underground gold mine in Zimbabwe, and aims to restart two assets in Zimbabwe, with additional exploration assets in the DRC. For additional information, please visit namibminerals.com.

Contacts:

Namib Minerals:
Ibrahima Sory Tall
CEO & Director
[email protected]

Investor Relations:
Kaitlin Taylor & Chris Santa Cruz
[email protected] 

Forward–Looking Statements

All statements other than statements of historical facts contained in this press release, including statements regarding Namib Minerals’ future financial position, results of operations, business strategy, and plans and objectives of its management team for future operations, are forward–looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward–looking statements. In some cases, you can identify forward–looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward–looking. Forward–looking statements include, without limitation, Namib Minerals’ or its respective management team’s expectations concerning the outlook for Namib Minerals’ business, productivity, plans, and goals for future operational improvements, growth and capital investments, operational and cost performance, future market conditions, economic performance and developments in the capital and credit markets, expected future financial performance, the restart of the Mazowe mine and Redwing mine and related expansion plans, capital expenditure plans and timeline, the development and goals of the prospective exploration licenses in the DRC, mineral reserve and resource estimates, production and other operating results, productivity improvements, expected additional funding, growth prospects and outlook of Namib Minerals’ operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of Namib Minerals’ exploration and production projects, as well as any information concerning possible or assumed future results of operations of Namib Minerals. Forward–looking statements also include statements regarding the expected benefits of the Business Combination. The forward–looking statements are based on the current expectations of the management team of Namib Minerals, and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward–looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward–looking statements. These risks and uncertainties include, but are not limited to, (i) market risks, including the price of gold; (ii) the effect of the announcement or consummation of the Business Combination on Namib Minerals’ business relationships, performance, and business generally; (iii) the outcome of any legal proceedings that may be instituted against Namib Minerals or its subsidiaries related to the Business Combination; (iv) the failure to realize the anticipated benefits of the Business Combination; (v) the inability to maintain the listing of Namib Minerals’ securities on Nasdaq; (vi) the inability to remediate the identified material weaknesses in Namib Minerals’ subsidiary’s internal control over financial reporting, which, if not corrected, could adversely affect the reliability of Namib Minerals’ or its subsidiaries’ financial reporting; (vii) the risk that the price of Namib Minerals’ securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which Namib Minerals plans to operate, variations in performance across competitors, changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro–economic and social environments affecting its business, and changes in the combined capital structure; (viii) the inability to implement business plans, forecasts, and other expectations, identify and realize additional opportunities, and manage growth and expanding operations; (ix) the risk that Namib Minerals may not be able to successfully develop its assets, including expanding the How mine, restarting and expanding its other mines in Zimbabwe or developing its interests in exploration permits in the DRC; (x) the risk that Namib Minerals will be unable to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (xi) political and social risks of operating in Zimbabwe and the DRC; (xii) the operational hazards and risks that Namib Minerals and its subsidiaries face; and (xiii) potential volatile and sporadic trading of Namib’s securities. The foregoing list is not exhaustive, and there may be additional risks that Namib Minerals presently does not know or that it currently believes are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the registration statement on Form F–4 (together with all amendments thereto, the “Registration Statement”) initially filed on December 6, 2024, and the definitive proxy statement / prospectus contained therein, in each case, under the heading “Risk Factors,” and other documents of Namib Minerals’ subsidiaries filed, or to be filed, with the U.S. Securities and Exchange Commission (“SEC”). Namib Minerals cautions you against placing undue reliance on forward–looking statements, which reflect current beliefs and are based on information currently available as of the date a forward–looking statement is made. Forward–looking statements set forth in this press release speak only as of the date of this press release. Neither Namib Minerals nor its subsidiaries undertakes any obligation to revise forward–looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward–looking statement is updated, no inference should be made that Namib Minerals or its subsidiaries will make additional updates with respect to that statement, related matters, or any other forward–looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward–looking statements, including discussions of significant risk factors, may appear, from subsequent events and developments, in Namib Minerals’ public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.

Cautionary Note Regarding Mineral Resources

Estimates of “measured”, “indicated” and “inferred” mineral resources as well as “proven” and “probable” mineral reserves shown in this communication are defined in Subpart 1300 of Regulation S–K promulgated by the SEC (“S–K 1300”). The estimation of measured resources and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable mineral reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. Investors are cautioned not to assume that any or all of the mineral resources are economically or legally mineable or that these mineral resources will ever be converted into mineral reserves. You are cautioned that mineral resources do not have demonstrated economic viability.

No Offer or Solicitation

This press release shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/209aa0b1–f756–4d9c–ba4a–085af921ebc5


GLOBENEWSWIRE (Distribution ID 9503757)

Anglo American’s Mogalakwena PGM mine completes IRMA audit

SEATTLE, March 13, 2025 (GLOBE NEWSWIRE) — Today the Initiative for Responsible Mining Assurance (IRMA) released the audit report of Anglo American’s Mogalakwena PGM complex against the IRMA Standard for Responsible Mining. Independent audit firm ERM–CVS assessed Mogalakwena at IRMA 50 when measuring its performance against the Standard’s best practice social and environmental criteria.

IRMA 50 means that ERM–CVS verified that the operations at least substantially met all 40 critical requirements of the IRMA Standard, as well as at least 50% of the Standard’s criteria in each of the four principle areas: social responsibility, environmental responsibility, business integrity and planning for positive legacies. The full audit reports are available on the Mogalakwena audit page on the IRMA website.

The information stakeholders need to decide what’s going well — and what may require more attention.

“This report demonstrates that mines can point to transparent, independent evaluations of their environmental and social performance,” said Aimee Boulanger, Executive Director of IRMA. “Through detailed IRMA audit reports, mining companies, communities and companies that purchase mined materials can gain the information they need, to decide what’s going well — and what may require more attention — at specific mines.”

As the IRMA Standard is recognized and adopted around the globe, these audits are steps in a deepening dialogue between mining companies and those affected by their operations. Because the process is still evolving, the results should be reviewed and interpreted accordingly.

“An increasing number of community members and workers are engaging in IRMA audits, and they’re using the audit reports to communicate directly with the mining company about their priorities for improvement,” Ms. Boulanger said. “If readers find results inconsistent with their experience, we encourage them to share their perspectives with IRMA and the company so that we can improve the audit review process and support continuing improvement at the site—as community members and NGOs have already done in this case.”

“We are always looking to improve not only mining practices, but also IRMA's system. IRMA's improvements, and being transparent about how we need to improve, is built into our system and a measure of its success,” said Ms. Boulanger.

Craig Miller, CEO of Anglo American Platinum said, “This milestone at Mogalakwena is significant in our overall adoption of IRMA. It enables us to promote transparency and best practice in sustainability, while adding value to our global customers by helping them meet the increasing expectations for responsibly mined materials in an efficient and credible way. With IRMA 50, we have accomplished our sustainable mining plan target of having all our mining operations assured against a recognised responsible mining standard by 2025.”

Including Mogalakwena, 23 industrial–scale mines worldwide are within the IRMA independent assessment system. After an initial self–assessment, a participating mine engages a third–party audit firm — trained and approved by IRMA — to conduct a detailed independent evaluation, including on–site visits to the mine and nearby communities. Following the release of the initial audit, a shorter surveillance audit checks on the mine’s performance. Three years after the initial audit, the operation is fully audited again (Note: The first mines audited in the IRMA system have had extensions to this timeline due to Covid delays and launch–phase learning; updated full reviews will be required to maintain or increase achievement scores.)

The independent IRMA system is the only global mining standard that provides equal power to the public sector (communities and Indigenous rights holders, mine workers, and environmental and human rights advocates) alongside the private sector (mining companies, mined materials purchasers and investors).

For More Information:


GLOBENEWSWIRE (Distribution ID 9393841)

Australian Gold Reagents to expand sodium cyanide plant

PERTH, Australia, Feb. 08, 2025 (GLOBE NEWSWIRE) — Australian Gold Reagents’ (AGR) Board has made a final investment decision to proceed with the expansion of its sodium cyanide production facility in Kwinana, Western Australia, positioning AGR as one of the world’s largest sodium cyanide producers for the gold mining industry.

AGR General Manager Barney Jones said the expansion would enable the business to meet the growing global demand for sodium cyanide for gold mining operations, while delivering on its sustainability goals.

“The expansion will increase AGR’s annual sodium cyanide production capacity by over 30 per cent, bringing total sodium cyanide solution capacity to approximately 130,000 tonnes per annum. It also includes an increase in our solids production capacity to facilitate increased exports to our international customers,” Mr Jones said.

“Sodium cyanide plays a critical role in the extraction of gold from ore, and the expansion will allow us to meet rising demand from gold producers across Australia, Asia, Africa, the Americas, and the Middle East.

“The expanded plant will connect into established infrastructure at AGR’s existing site, improving our operational efficiencies and providing safety benefits for our team.

“It will ensure we can continue to deliver a reliable and efficient supply chain for our customers, supporting the growth we are expecting to see both in Western Australian gold mining and in our export markets.”

The expansion will also deliver significant environmental benefits, enhancing the plants’ overall sustainability performance.

“One of the key components of the expansion is a new low–emissions incinerator, designed to safely and sustainably destroy waste product generated in the manufacturing process, while minimising greenhouse gas emissions,” Mr Jones said.

“The new incinerator will enable us to significantly increase sodium cyanide production while reducing our greenhouse gas emissions intensity by approximately 28 per cent. It is partially funded by the Australian Government, thanks to a $7.5 million (AUD) Powering the Regions Fund grant, which supports industrial decarbonisation.

“Our expansion plans will also enable us to recycle over 70 per cent of wastewater onsite, conserving valuable resources and reducing reliance on external water sources.

“In addition, we’re exploring technology that would use waste heat from the plants’ manufacturing process to generate zero–emissions electricity.

“With this technology, the plant could export clean power to nearby facilities or support the local grid,” he said.

First production from the expanded plant is scheduled for FY2026, with full capacity expected to come online in the second half of FY2027. Detailed engineering design is well advanced, and all long lead items for the operating plants have been ordered.

About AGR
AGR is the management company of CSBP’s sodium cyanide manufacturing joint venture with Coogee Chemicals Pty Ltd. CSBP is part of Wesfarmers Chemicals, Energy and Fertilisers (WesCEF). As a 75 percent shareholder, CSBP acts as the operating and sales agent for the company.

www.agrcyanide.com

Images and videos

https://vimeo.com/1053216114?share=copy
https://wescef.com.au/wp–content/uploads/2025/02/Attachment_Image–1_AGR–aerial.jpg
https://wescef.com.au/wp–content/uploads/2025/02/Attachment_Image–2_AGR–expansion–plans.jpg
https://wescef.com.au/wp–content/uploads/2025/02/Attachment_Image–3_GM–AGR–Barney–Jones.jpg
https://wescef.com.au/wp–content/uploads/2025/02/Attachment_Image–4_AGR.jpg


GLOBENEWSWIRE (Distribution ID 9355285)

Syrah’s Balama is the first graphite operation to complete independent audit against the IRMA Standard, achieves IRMA 50

SEATTLE, Dec. 19, 2024 (GLOBE NEWSWIRE) — Today the Initiative for Responsible Mining (IRMA) released the results of an independent audit of Syrah’s Balama graphite operation (“Balama”) against the IRMA Standard for Responsible Mining. Balama achieved IRMA 50 after the independent audit firm SCS Global Services measured its performance versus the Standard’s 400+ criteria.

Balama is one of 22 industrial–scale mining operations worldwide engaged in independent audits with the IRMA system. After an initial self–assessment, a participating mine engages a third–party audit firm — trained and approved by IRMA — to conduct a detailed independent evaluation, including on–site visits to the mine and nearby communities.

IRMA 50 means SCS Global Services verified Balama met all critical requirements of the IRMA Standard, as well as at least 50% of the Standard’s criteria in each of the four areas: social responsibility, environmental responsibility, business integrity and planning for positive legacies. The full audit report is available on the Balama audit page at responsiblemining.net.

“The information stakeholders need to decide what’s going well — and what may require more attention.”

“This report demonstrates that mines supplying materials essential to the renewable energy transition can point to transparent, independent evaluations of their environmental and social performance,” said Aimee Boulanger, Executive Director of IRMA. “Through detailed IRMA audit reports, mining companies, communities and companies that purchase mined materials can gain the information they need to decide what’s going well — and what may require more attention — at specific mines.”

As the IRMA Standard is recognized and adopted around the globe, these audits are just the first steps in a deepening dialogue between mining companies and those affected by their operations. And because the process is still evolving, IRMA cautions that the initial results should be reviewed and interpreted accordingly.

“If the results don't fully reflect the experience of communities or other affected groups, we want to hear from them,” Ms. Boulanger said. “We’ll help them communicate with the company to better understand its performance, and with the auditors on any issues they feel were overlooked in the review. This is a cornerstone of our own commitment to transparency. We invite anyone who has criticisms of our work to join us in making it better. Finding ways to improve is built into our system — and a measure of its success.”

“This accomplishment is a first in the global graphite industry and highlights nearly a decade of strengthening our differentiated ESG performance.”

“Achieving IRMA 50 is a significant milestone for Syrah in our commitment to operate in line with international best practice for responsible mining. This accomplishment is a first in the global graphite industry and highlights nearly a decade of strengthening our differentiated ESG performance, particularly Balama’s strong safety record, investment in training and developing a highly skilled workforce, ongoing community development, human rights due diligence, legal governance and compliance, stakeholder engagement and demonstrated commitment to environmental sustainability,” said Syrah Managing Director and CEO, Shaun Verner.

The Initiative for Responsible Mining Assurance (IRMA) is (1) a voluntary mining standard describing best practices to protect people and the environment, (2) an assurance process to measure mines against that standard, and (3) an organization equally governed by representatives of six affected stakeholder sectors – communities, organized labor, NGOs, finance, purchasers and mining companies — that oversees the standard and the assurance process. IRMA is globally unique in that its governance provides communities equal power to mining companies, and the non–commercial interests the same power as commercial interests.

For More Information:


GLOBENEWSWIRE (Distribution ID 9322261)

A operação da Syrah em Balama é a primeira mina de grafite a concluir uma auditoria independente de acordo com o padrão IRMA, tendo atingido o nível IRMA 50

SEATTLE, Dec. 19, 2024 (GLOBE NEWSWIRE) — Hoje, a Iniciativa para a Garantia de Mineração Responsável (IRMA) divulgou os resultados de uma auditoria independente da operação de grafite da Syrah em Balama (“Balama”) em função do Padrão para a Mineração Responsável da IRMA. Balama atingiu o nível IRMA 50 depois de a firma de auditoria independente SCS Global Services ter medido o seu desempenho em relação aos mais de quatrocentos critérios do Padrão.

A operação da Syrah em Balama é uma das 22 operações mineiras de escala industrial em todo o mundo envolvidas em auditorias independentes com o sistema IRMA. Após uma auto–avaliação inicial, uma mina participante contrata uma empresa de auditoria externa, com formação e aprovação da IRMA, para efectuar uma avaliação independente pormenorizada, incluindo visitas presencias a operação mineira e às comunidades próximas.

O IRMA 50 significa que a SCS Global Services verificou que Balama cumpria todos os requisitos críticos do Padrão IRMA, bem como pelo menos 50% dos critérios do Padrão em cada uma das quatro áreas: responsabilidade social, responsabilidade ambiental, integridade empresarial e planeamento para legados positivos. O relatório de auditoria completo está disponível na página da auditoria de Balama em responsiblemining.net.

“As informações necessárias para decidir o que está a correr bem e o que pode exigir mais atenção.”

“Este relatório demonstra que as minas que fornecem materiais essenciais com vista à transição para as energias renováveis podem apontar para avaliações transparentes e independentes do seu desempenho ambiental e social”, afirmou Aimee Boulanger, Directora Executiva da IRMA. “Através de relatórios de auditoria da IRMA pormenorizados, as empresas de mineração, as comunidades e as empresas que adquirem os materiais extraídos podem obter as informações necessárias para decidir o que está a correr bem e o que pode exigir mais atenção em minas específicas.”

Dado que o Padrão da IRMA é reconhecido e adoptado em todo o mundo, estas auditorias são apenas os primeiros passos no aprofundamento do diálogo entre as empresas mineiras e as pessoas afectadas pela respectiva actividade. E porque o processo ainda está em evolução, a IRMA adverte que os resultados iniciais devem ser revistos e interpretados em conformidade.

“Se os resultados não reflectem plenamente a experiência das comunidades, dos titulares de direitos indígenas ou de outros grupos afectados, queremos ouvir as respectivas opiniões”, afirmou a Sra. Boulanger. “Ajudá–los–emos a comunicar com a empresa para compreender melhor o seu desempenho e com os auditores sobre quaisquer questões que achem que tenham sido negligenciadas na análise. Esta é uma pedra basilar do nosso compromisso para com a transparência. Convidamos qualquer pessoa que tenha críticas acerca do nosso trabalho a juntar se a nós para o tornarmos melhor. A procura de maneiras de melhorar está incorporada no nosso sistema e é uma medida do seu sucesso.”

“Esta conquista é a primeira na indústria global de grafite e destaca quase uma década de fortalecimento do nosso desempenho diferenciado em ESG.”

“Alcançar o IRMA 50 é um marco significativo para a Syrah no seu compromisso de operar em linha com as melhores práticas internacionais de mineração responsável. Esta conquista é a primeira na indústria global de grafite e destaca quase uma década de fortalecimento do nosso desempenho diferenciado em ESG. O sólido registo de segurança de Balama, o investimento em formação e no desenvolvimento de uma força de trabalho altamente qualificada, o contínuo desenvolvimento na comunidade, a devida diligência em matéria de direitos humanos, a governação e conformidade legal, o envolvimento com as partes interessadas e o compromisso demonstrado com a sustentabilidade ambiental foram elementos cruciais no processo com o IRMA”, destacou o Diretor–Executivo e CEO da Syrah, Shaun Verner.

A Iniciativa para a Garantia de Mineração Responsável (IRMA) é: (1) um padrão de mineração voluntário que descreve as melhores práticas para proteger as pessoas e o ambiente, (2) um processo de garantia para mensurar as minas em função desse padrão, e (3) uma organização dirigida em pé de igualdade por representantes de seis sectores de partes interessadas afectadas (comunidades, trabalhadores organizados, ONG, sector financeiro, compradores e empresas mineiras) que supervisiona a norma e o processo de garantia. A IRMA é mundialmente única no sentido em que a sua governação proporciona às comunidades um poder equivalente ao das empresas mineiras e aos interesses não comerciais um poder igual ao dos interesses comerciais.

For More Information:


GLOBENEWSWIRE (Distribution ID 9322261)

Namib Minerals and Hennessy Capital Investment Corp. VI Announce Filing of Registration Statement in Connection with their Proposed Business Combination and Namib Minerals’ Planned Nasdaq Listing

  • Namib Minerals and co–registrant Greenstone Corporation (“Greenstone”) filed a registration statement on Form F–4 (the “Registration Statement”) with the U.S. Securities Exchange Commission (the “SEC”), a critical step in advancing their previously announced proposed business combination with Hennessy Capital Investment Corp. VI (Nasdaq: HCVI) (“HCVI” or “Hennessy Capital”), and planned Nasdaq listing of Namib Minerals’ ordinary shares under the ticker “NAMM.”
  • The proposed business combination values Namib Minerals at a pre–money enterprise value of $500 million with up to an additional 30 million of contingent ordinary shares tied to the completion of operational milestones.(1)
  • Transaction proceeds are intended to be used to accelerate Namib Minerals’ growth plans for Greenstone’s assets, including the restart of two gold mines in Zimbabwe and expansion into prospective battery metal assets, including copper and cobalt, in the Democratic Republic of Congo (the “DRC”).
  • How mine, a high–grade cash–generating gold asset currently owned by Greenstone, supports low–cost production, while restart efforts at the Mazowe and Redwing mines aim to establish Namib Minerals as a multi–asset producer in Africa.

NEW YORK, Dec. 09, 2024 (GLOBE NEWSWIRE) — Namib Minerals, which would become a public company upon consummation of the proposed business combination, Greenstone, an affiliate of Namib Minerals and an established African gold producer with an attractive portfolio of mining assets in Zimbabwe, and HCVI, a Nasdaq listed special purpose acquisition company, today announced the filing of the Registration Statement with the SEC on Friday, December 6, 2024. This filing represents a key milestone in connection with their previously announced proposed business combination, which is expected to result in Namib Minerals listing its ordinary shares and warrants on Nasdaq under the ticker symbols “NAMM” and “NAMMW,” respectively, subject to approval of its listing application. While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about Namib Minerals, Greenstone, HCVI, and the proposed business combination.

Upon completion of the transaction, Namib Minerals will own Greenstone’s mining and exploration assets and plans to accelerate its growth strategy and build out its portfolio of mining assets. Located strategically in the Bulawayo Greenstone Belt of Southern Zimbabwe, Greenstone’s cash flow generating How mine has produced over 1.8Moz of gold between 1941 and 2023. Restart efforts at the Mazowe and Redwing mines, historically producing gold mines currently on care and maintenance, aim to diversify Namib Minerals’ production scale upon the mines’ recommencement. The Mazowe and Redwing mines have total measured and indicated resource estimates of 291koz at 7.77 g/t Au and 1,188koz at 3.83 g/t Au, respectively, and inferred resource estimates of 915koz at 8.65 g/t Au and 1,328koz at 2.61 g/t Au, respectively, based on technical report summaries for each mine prepared in compliance with Subpart 1300 of Regulation S–K promulgated by the SEC (“S–K 1300”). Greenstone also currently holds interests in 13 battery metals exploration permits in the DRC, including six initial diamond drilling holes that show potential for copper and cobalt. Located in the resource–rich Haut Katanga and Lualaba Provinces, these assets position Namib Minerals to capitalize on the rising global demand for battery metals.

Greenstone Snapshot:

  • Established, well–known African gold producer – Produced ~589koz from 2012 to 2023(2)
  • Operating in Zimbabwe since 2002 – Greenstone brings a proven management team with operational and developmental success
  • Producing positive cash flow – 1H 2024 Revenue: $42M(3) / 2023 Revenue: $65M(4); 1H 2024 Profit: $9.2M(3) / 2023 Profit: $3.6M(4); 1H 2024 Adj. EBITDA: $17M(5) / 2023 Adj. EBITDA: $20M(5)
  • One production stage asset, two exploration stage assets – As of December 31, 2023, total measured and indicated mineral resources: 1.6Moz at 3.92 g/t Au(6); total inferred mineral resources: 2.4Moz(6)
  • Well–positioned to unlock shareholder value as a multi–asset producer in Africa – Preparation works and feasibility studies underway at the Mazowe and Redwing mines
  • Certified to ISO Standards(7) – 0.86 lost time injury frequency rate in 2023(8)

“As Namib Minerals takes this significant step toward becoming a publicly traded company, we remain dedicated to our mission of creating safe, sustainable, and profitable mining operations,” said Ibrahima Tall, Chief Executive Officer and Director of Namib Minerals. “This transaction positions us to advance our strategy, from restarting the Mazowe and Redwing gold mines to expanding our focus on copper and cobalt potential in the DRC. We are excited about the opportunities this partnership creates to deliver long–term value to our stakeholders while contributing responsibly to the communities where we operate.”

“Filing the Registration Statement marks an important milestone in the proposed Namib–Hennessy Capital business combination,” said Daniel Hennessy, Chief Executive Officer and Chairman of Hennessy Capital. “We are proud to support Namib Minerals as it continues to build a leading Pan–African platform for precious and critical metals production. Namib Minerals stood out as a compelling partner due to its history of mining in precious metals, opportunities for future expansion and its mission to create safe, sustainable and profitable operations in the communities it serves. With its strong portfolio of assets and clear growth strategy, Namib Minerals is well–positioned to capitalize on increasing global demand for these essential resources.”

Proposed Transaction Highlights

The proposed business combination implies a pro forma combined enterprise value of Namib Minerals at approximately $602 million, excluding additional earnout consideration, assuming no further redemptions of HCVI’s public shares and $60 million in targeted PIPE funding to be obtained prior to the closing of the transaction. The boards of directors of HCVI, Greenstone, and Namib Minerals have approved the proposed transaction, which is expected to be completed in the first quarter of 2025, subject to, among other things, the approvals by stockholders of HCVI and Greenstone and satisfaction or waiver of the other conditions set forth in the business combination agreement, dated June 17, 2024 (as amended on December 6, 2024, the “Business Combination Agreement”). At closing of the proposed business combination, Greenstone’s existing shareholders will exchange their equity in Greenstone for approximately 74% of the equity of Namib Minerals.

Net proceeds from the transaction are expected to enable Namib Minerals to invest further into the How mine, while also contributing to the restart of production at the Mazowe and Redwing mines, each in Zimbabwe, and to help fund the expansion of operations into the DRC.

Additional information about the proposed business combination, including a copy of the Business Combination Agreement, is available on the Current Report on Form 8–K, dated June 17, 2024, filed by HCVI with the SEC on June 18, 2024 and available at www.sec.gov.

References:

(1)   Pre–money equity value of $500 million excludes additional 30 million of contingent ordinary shares ($300M value) to be issued by Namib Minerals to current Greenstone shareholders upon the completion of operational milestones.
(2)   Internal historical production numbers aligning with the How Mine S–K 1300 Technical Report Summary, December 2024; Mazowe Mine S–K 1300 Technical Report Summary, December 2024; Redwing Mine S–K 1300 Technical Report Summary, December 2024.
(3)   Unaudited interim financial statements and notes of Greenstone as of and for the six months ended June 30, 2024.
(4)   Audited financial statements and notes of Greenstone as of and for the year ended December 31, 2023.
(5)   Adjusted EBITDA is a non–International Financial Reporting Standards (“IFRS”) measure, which should not be considered in isolation or as a substitute for IFRS measures. See “Use of Non–IFRS Financial Measures” below for more information.
(6)   How Mine S–K 1300 Technical Report Summary, December 2024, exclusive of Mineral Reserves; Mazowe Mine S–K 1300 Technical Report Summary, December 2024; Redwing Mine S–K 1300 Technical Report Summary, December 2024.
(7)   Unaudited Greenstone 2023 Annual Report, Recertification achieved on all three international standards–based management systems; ISO 14001 of 2015: Environmental Management Systems (EMS), ISO 9001 of 2015: Quality Management Systems (QMS) and ISO 45001 of 2018: Occupational Safety and Health Management Systems (OHSMS).
(8)   How Mine internal management safety reporting.
     

Advisors

Cohen & Company Capital Markets is serving as exclusive financial advisor and lead capital markets advisor to Greenstone and Namib Minerals, while Jett Capital Advisors LLC is serving as financial advisor to HCVI. Greenberg Traurig, LLP is serving as U.S. legal counsel to Greenstone and Namib Minerals, Sidley Austin LLP is serving as legal counsel to HCVI, and Appleby (Cayman) Ltd. is serving as Cayman Islands legal counsel to Greenstone and Namib. BDO South Africa Inc. is serving as auditor to Greenstone and Namib Minerals, and Alliance Advisors Investor Relations is serving as investor relations advisor for the transaction.

About Greenstone Corporation and Namib Minerals

Greenstone is a gold producer, developer and explorer with operations focused in Zimbabwe. Greenstone is a significant player in Zimbabwe’s mining industry, driving sustainable growth and innovation across the sector. Currently Greenstone operates an underground mine in Zimbabwe, with additional exploration assets in Zimbabwe and the DRC. Greenstone operates using conventional mining as well as modern processes and is seeking alternative areas of growth. Upon the closing of the proposed business transaction, Namib Minerals will hold all of Greenstone’s assets.

For additional information, please visit namibminerals.com

About Hennessy Capital Investment Corp. VI

Hennessy Capital Investment Corp. VI is a special purpose acquisition company (SPAC) listed on the Nasdaq Global Market (NASDAQ: HCVI). HCVI was formed by Daniel J. Hennessy for the purpose of acquiring, and introducing to the public markets, a strong and competitive company operating in the industrial sector.

For additional information, please visit hennessycapitalgroup.com

Forward Looking Statements

All statements other than statements of historical facts contained in this press release, including statements regarding HCVI’s, Greenstone’s, or Namib Minerals’ future financial position, results of operations, business strategy, and plans and objectives of their respective management teams for future operations, are forward–looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward–looking statements. In some cases, you can identify forward–looking statements by words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “strategy,” “future,” “opportunity,” “may,” “target,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” “preliminary,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward–looking. Forward–looking statements include, without limitation, HCVI’s, Greenstone’s, or their respective management teams’ expectations concerning the outlook for their or Namib Minerals’ business, productivity, plans, and goals for future operational improvements and capital investments, operational performance, future market conditions, or economic performance and developments in the capital and credit markets and expected future financial performance, including the restart of the Mazowe mine and the Redwing mine and related expansion plans, capital expenditure plans and timeline, the development and goals of the prospective exploration licenses in the DRC, mineral reserve and resource estimates, production and other operating results, productivity improvements, expected net proceeds, expected additional funding, the percentage of redemptions of HCVI’s public stockholders, growth prospects and outlook of Namib Minerals’ operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of Namib Minerals’ exploration and production projects, as well as any information concerning possible or assumed future results of operations of Namib Minerals. Forward–looking statements also include statements regarding the expected benefits of the proposed business combination. The forward–looking statements are based on the current expectations of the respective management teams of Greenstone and HCVI, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward–looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward–looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the proposed business combination may not be completed in a timely manner or at all, which may adversely affect the price of HCVI’s securities; (ii) the risk that the proposed business combination may not be completed by HCVI’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by HCVI; (iii) the failure to satisfy the conditions to the consummation of the proposed business combination, including the adoption of the Business Combination Agreement by the stockholders of HCVI and Greenstone, the satisfaction of the $25 million minimum cash amount following redemptions by HCVI’s public stockholders and the receipt of certain regulatory approvals; (iv) market risks, including the price of gold; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination Agreement; (vi) the effect of the announcement or pendency of the proposed business combination on Greenstone’s business relationships, performance, and business generally; (vii) the outcome of any legal proceedings that may be instituted against Greenstone or HCVI related to the Business Combination Agreement or the proposed business combination; (viii) failure to realize the anticipated benefits of the proposed business combination; (ix) the inability to maintain the listing of HCVI’s securities or to meet listing requirements and maintain the listing of Namib Minerals’ securities on the Nasdaq; (x) the inability to remediate the identified material weaknesses in Greenstone’s internal control over financial reporting, which, if not corrected, could adversely affect the reliability of Greenstone’s and Namib Minerals’ financial reporting; (xi) the risk that the price of Namib Minerals’ securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which Greenstone plans to operate, variations in performance across competitors, changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro–economic and social environments affecting its business, and changes in the combined capital structure; (xii) the inability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, identify and realize additional opportunities, and manage its growth and expanding operations; (xiii) the risk that Greenstone may not be able to successfully develop its assets, including expanding the How mine, restarting and expanding its other mines in Zimbabwe or developing its exploration permits in the DRC; (xiv) the risk that Greenstone will be unable to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (xv) political and social risks of operating in Zimbabwe and the DRC; (xvi) the operational hazards and risks that Namib Minerals faces; and (xvii) the risk that additional financing in connection with the proposed business combination may not be raised on favorable terms, in a sufficient amount to satisfy the $25 million (post–redemptions) minimum cash amount condition to the Business Combination Agreement, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither HCVI nor Greenstone presently know or that HCVI and Greenstone currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the “Risk Factors” section of HCVI’s Annual Report on Form 10–K for the year ended December, 31, 2023, which was filed with the SEC on March 29, 2024, the risks described in the Registration Statement, which includes a preliminary proxy statement/prospectus, and those discussed and identified in filings made with the SEC by HCVI and Namib Minerals from time to time. Greenstone and HCVI caution you against placing undue reliance on forward–looking statements, which reflect current beliefs and are based on information currently available as of the date a forward–looking statement is made. Forward–looking statements set forth in this press release speak only as of the date of this press release. None of Greenstone, HCVI, or Namib Minerals undertakes any obligation to revise forward–looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward–looking statement is updated, no inference should be made that Greenstone, HCVI, or Namib Minerals will make additional updates with respect to that statement, related matters, or any other forward–looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward–looking statements, including discussions of significant risk factors, may appear, up to the consummation of the proposed business combination, in HCVI’s or Namib Minerals’ public filings with the SEC, which are or will be (as appropriate) accessible at www.sec.gov, and which you are advised to review carefully.

Important Information for Investors and Stockholders

In connection with the proposed business combination, Namib Minerals and Greenstone, as co–registrant, have filed with the SEC the Registration Statement, which includes a prospectus with respect to Namib Minerals’ securities to be issued in connection with the proposed business combination and a proxy statement to be distributed to holders of HCVI’s common stock in connection with HCVI’s solicitation of proxies for the vote by HCVI’s stockholders with respect to the proposed business combination and other matters to be described in the Registration Statement (the “Proxy Statement”). After the SEC declares the Registration Statement effective, HCVI plans to file the definitive Proxy Statement with the SEC and to mail copies to stockholders of HCVI as of a record date to be established for voting on the proposed business combination. This press release does not contain all the information that should be considered concerning the proposed business combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that Namib Minerals or HCVI may file with the SEC. Before making any investment or voting decision, investors and security holders of HCVI and Namib Minerals are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about Greenstone, HCVI, Namib Minerals and the proposed business combination. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by Namib Minerals and HCVI through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by Namib Minerals and HCVI may be obtained free of charge from HCVI’s website at hennessycapllc.com or by directing a request to Nicholas Geeza, Chief Financial Officer, PO Box 1036, 195 US Hwy 50, Suite 309, Zephyr Cove, Nevada 89448; Tel: (775) 339–1671. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.

Participants in the Solicitation

Greenstone, HCVI, Namib Minerals and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from HCVI’s stockholders in connection with the proposed business combination. For more information about the names, affiliations and interests of HCVI’s directors and executive officers, please refer to HCVI’s annual report on Form 10–K filed with the SEC on March 29, 2024 and the Registration Statement, Proxy Statement and other relevant materials filed with the SEC in connection with the proposed business combination from time to time. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of HCVI’s stockholders generally, are included in the Registration Statement and the Proxy Statement. Stockholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement carefully before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

Use of Non–IFRS Financial Measures

Greenstone utilizes non–IFRS financial measures, including Adjusted EBITDA, to complement its IFRS reporting and provide stakeholders with a deeper understanding of its operational performance and financial health. These measures offer insights into trends and factors that IFRS metrics may not fully capture, and Greenstone believes they are essential for formulating strategic decisions and business plans. Non–IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with IFRS, and non–IFRS financial measures as used by Greenstone may not be comparable to similarly titled amounts used by other companies. While not a substitute for IFRS results, they exclude items not indicative of Greenstone’s core operations, enhancing comparability across periods. Greenstone defines Adjusted EBITDA as profit for the period before finance cost, loss on sale, related party credit loss, taxes, depreciation, impairment of long lived assets, interest income, financial guarantee remeasurement, and share–based payments. The table below presents Greenstone’s Adjusted EBITDA for the year ended December 31, 2023 and the six–month period ended June 30, 2024, reconciled to Greenstone’s Profit for the year ended December 31, 2023 and the six–month period ended June 30, 2024, respectively, which is the most comparable IFRS measure:

(In thousands)     31–Dec–23
     30–Jun–24  
Profit for the period ended     $ 3,627     9,175  
Finance cost     2,415     1,057  
Loss on sale       41     —  
Related party credit loss       6,818     552  
Income tax expense       5,254     4,433  
Depreciation       2,705     1,666  
Impairment       —     —  
Interest income       (114 )   —  
Financial guarantee remeasurement       (486 )   (2,746 )
Share–based payments       —     2,834  
Adjusted EBITDA     $ 20,260     16,971  
 

Cautionary Note Regarding Mineral Resources and Mineral Reserves
Estimates of “measured”, “indicated,” and “inferred” mineral resources as well as “mineral reserves” shown in this press release are defined in S–K 1300. The estimation of measured resources and indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable mineral reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. Investors are cautioned not to assume that any or all of the mineral resources are economically or legally mineable or that these mineral resources will ever be converted into mineral reserves. You are cautioned that mineral resources do not have demonstrated economic viability.

No Offer or Solicitation
This press release shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the proposed business combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.

Contacts

Greenstone Corporation/Namib Minerals:
[email protected]

Hennessy Capital Investment Corp. VI:
Nicholas Geeza
[email protected]

Investor Relations:
Caroline Sawamoto
[email protected]


GLOBENEWSWIRE (Distribution ID 9315817)

BASF Environmental Catalyst and Metal Solutions remporte le Edison Patent Award 2024

ISELIN, New Jersey, 23 nov. 2024 (GLOBE NEWSWIRE) — Une équipe composée de scientifiques de BASF Environmental Catalyst and Metal Solutions (ECMS) et de Heesung Catalysts Corporation (HCC) a récemment reçu un Edison Patent Award 2024 décerné par le Research & Development Council of New Jersey pour une technologie innovante de convertisseur catalytique à trois voies avec piège à oxyde d’azote (NOx) afin de contrôler les émissions de NOx dans les véhicules à essence. La technologie traite le NOx de façon appropriée dans les conditions de fonctionnement des moteurs modernes et permet de réduire les émissions d’échappement par rapport aux convertisseurs catalytiques à trois voies conventionnels.

L’équipe était composée de scientifiques d’ECMS Xiaolai Zheng et Pat Burk (à la retraite), ainsi que des scientifiques de HCC Jinwoo Song et Jun Lee.

« En intégrant une fonction de piège à NOx à un catalyseur à trois voies, la nouvelle technologie TWC–NT réduit considérablement les émissions de NOx et d’autres composés toxiques apportées via le pot d’échappement », a déclaré Xiaolai Zheng, scientifique principal dans les nouvelles technologies de catalyseurs automobiles chez ECMS.

« Les constructeurs automobiles peuvent calibrer les véhicules de tourisme à essence avec des coupes de carburant plus fréquentes afin de réaliser plus d’économies en carburant, mais aussi de réduire les émissions de CO2 pendant que le véhicule roule », a indiqué Jinwoo Song, vice–président et responsable RD&A chez HCC.

« Cette technologie a été bien accueillie par nos clients, car elle répondait à un besoin clé sur ce marché », a souligné Saeed Alerasool, vice–président directeur chargé de la recherche, du développement et des applications chez ECMS. « Nous avons la chance d’avoir à nos côtés les meilleurs experts techniques du secteur pour permettre à nos clients de respecter des réglementations toujours plus strictes en matière d’émissions et de réaliser d’importantes économies en carburant. Ce prix est une reconnaissance de leur travail acharné et de leur engagement quotidien envers l’innovation. Nous sommes extrêmement fiers de l’équipe. »

Le Research & Development Council of New Jersey a créé l’Edison Patent Award afin d’honorer l’héritage de Thomas Edison et récompense en son nom les inventeurs et organismes de recherche du New Jersey qui encouragent l’innovation et permettent au New Jersey de se positionner encore et toujours comme un pôle mondial en matière d’innovation. Ce programme de remise de prix s’inscrit dans le cadre de la mission du conseil visant à faire collaborer l’industrie, le monde universitaire et le gouvernement afin de développer et de renforcer la place des STEM dans l’éducation, l’innovation et l’économie.

À propos de BASF Environmental Catalyst and Metal Solutions

Exploitant sa grande expertise en tant que leader mondial de la catalyse et des métaux précieux, BASF Environmental Catalyst and Metal Solutions (ECMS) est au service de clients dans de nombreux secteurs, notamment l’automobile, l’aérospatiale, la qualité de l’air intérieur, les semi–conducteurs et l’économie de l’hydrogène, et fournit des services en boucle complète grâce à son offre de négoce et de recyclage des métaux précieux. En mettant l’accent sur les solutions circulaires et la durabilité, ECMS s’engage à assister ses clients dans la création d’un monde plus propre et plus durable. Protéger les éléments de la vie est notre objectif et cela nous inspire dans la recherche de solutions toujours nouvelles. Le groupe ECMS est présent dans 16 pays et compte plus de 4 500 employés et 21 sites de production.

À propos de BASF 

Chez BASF, nous faisons de la chimie pour un avenir durable. Nous combinons réussite économique, protection de l’environnement et responsabilité sociale. Près de 112 000 employés au sein de groupe BASF contribuent au succès de nos clients à travers quasiment tous les secteurs et tous les pays du monde. Notre portefeuille comprend six segments : produits chimiques, matériaux, solutions industrielles, technologies de surface, nutrition et soins et solutions agricoles. En 2023, BASF a généré un chiffre d’affaires de 68,9 milliards d’euros. Les actions BASF sont négociées à la bourse de Francfort (BAS) et aux États–Unis sous le nom d’American Depositary Receipts (BASFY). Pour de plus amples informations, rendez–vous sur www.basf.com 

À propos de Heesung Catalysts Corporation

Heesung Catalysts Corporation (HCC), leader reconnu dans les technologies de catalyseurs et de matériaux, promeut l’innovation grâce à ses solutions avancées qui visent à améliorer la qualité de l’air et à réduire les émissions de gaz à effet de serre. Déterminée à soutenir sans relâche la transition vers une économie neutre en carbone à travers le monde, HCC consolide son rôle en encourageant la durabilité environnementale. HCC s’appuie sur une expertise et une expérience approfondies afin de fournir des solutions sur mesure dans des secteurs clés, notamment l’industrie automobile, maritime, des semi–conducteurs, pétrochimique et la chaîne de valeur de l’hydrogène. Le siège social de l’entreprise en République de Corée compte plus de 550 professionnels déterminés à repousser les limites de la recherche, du développement et de l’innovation en matière de production. Avec l’objectif clair de se positionner en tant que leader de premier plan en matière de technologies respectueuses de l’environnement, HCC s’engage à fournir des solutions durables et performantes qui répondent aux demandes dans divers secteurs, réaffirmant ainsi son leadership dans le domaine des technologies vertes.

Contact relations médias :
Joy Zhang
Téléphone : +86 19121028317
E–mail : joy.zhang@basf–catalystsmetals.com 		          Interlocuteur supplémentaire :
Joe Plahutnik
Téléphone : +1 7324289602
E–mail : joseph.plahutnik@basf–catalystsmetals.com 
     

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