Netoil Capital Ltd
Acquisition of Bluegreen Mozambique Mineracao e Servicos Lda
Oslo, Norway
8 February, 2022.
Netoil Capital Ltd. (“NOC”) announces that it has reached agreement with Bluegreen Holding SA. (“BGH”) for the acquisition of 50% of shares in Bluegreen Mozambique Mineracao e Servicos Lda (“BMMS”), against the issue to BGH of 40,000,000 shares in NOC. The agreement and share issue is conditional on BMMS receiving final production permit.
BGH’s assets consist of an interest in a mining license in Zambezi River Valley in Mozambique. The mining license covers an area along the Zambezi River containing heavy minerals and exceptionally high precious metals (e.g. gold, platinum) concentrations in the alluvial sands.
The license was originally held by a local company and developed with the help of ENEA (Italian research group). BGH, a company owned by Jorg R. Bucherer and Giovanni Mahler in Switzerland, bought the local company for the purpose of developing a pilot plant. BGH has, subsequent to this acquisition, further
developed the understanding of the potential of the Licenses.
A competent person’s report (“CPR”) was undertaken in 2019. This report confirms the presence of exceptional high content of precious metals (Gold, Platinum, Palladium and Rhutenium) as well as concentration of other valuable metals such a Titanium, Hafnium and Zircon. There are also a number of rare earth minerals identified (especially Scandium and Hyttrium).
The conclusion in the CPR report evidence the presence of exploitable minerals either precious (Gold, Platinum, Silver, Palladium and others,) or metals (Iron, Titanium, Cobalt, Hafnium, Zircon, Vanadium , and others). The reserves in the license will be reported after the appraisal stage, and from work done so far
the indication is that daily potential from precious metals, metals and the rare earth minerals is very much economically viable. It is also important to take into account a good potential production of Silicon, for the presence of very pure quartz sands. Using the production of the iron from the sand it would be possible to also produce Iron-Silicon.
The appraisal stage will consist of a pilot plant, with an estimated cost of $5 million and an expected further development cost of $50 million for full production.
Netoil Capital Ltd. (NOC) is an independent resource company, focussed on both oil and gas, and mineral extraction worldwide. NOC wants to invest in minerals with low emissions future which include lithium, cobalt, iron ore, manganese, aluminum, nickel, lead and graphite, which is also supporting technological
innovations developed to support the energy transition, which make use of these various refined ores and metals:
• electric vehicles: cobalt, copper, lanthanum, lithium, nickel, manganese, graphite, zinc, rare earth;
• fuel cells: platinum, palladium, rhodium;
• wind energy technologies: copper, nickel, manganese, cobalt, chromium, molybdenum, zinc, rare earth, silicon, neodymium, dysprosium, terbium;
• aviation: titanium;
• photovoltaic solar technologies: silicon, copper, cadmium, indium, gallium;
• batteries: lithium, iron and phosphate (LFP), cobalt, nickel.
NOC is led by an experienced, highly qualified team that brings a breadth of knowledge of the oil and gas and mineral extraction sectors, coupled with strong and durable relationships at a local level in its selected areas of operation.
For further information, please contact: Nils Trulsvik, CEO, tel: +47 416 08 667
– e-mail: nils.trulsvik@netoilcapital.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
