Renergen publishes prospectus for proposed ASX listing
AltX-listed alternative and renewable energy business Renergen has, ahead of its planned listing on the ASX in May, announced a further increase in reserves at its subsidiary Tetra4’s Virginia project, in South Africa’s Free State province.
The company, which on Wednesday published its prospectus for a secondary listing on the ASX, also reported that an independent reserve review by US-based firm MHA Petroleum Consultants has confirmed a 12.2% increase in proven methane reserves to 40.76-billion cubic feet, while proven helium reserves have increased by 16.1% to 1.01-billion cubic feet.
This has resulted in an economic valuation of R9.8-billion for the project’s proven and probable reserves.
“The continuous improvement in reserves as we further our geological understanding of the resource is highly encouraging.
“Favourable market conditions, particularly with the massive upward shift in helium prices, has made Tetra4’s prospects of becoming a global helium participant all the more tangible,” said Renergen CEO Stefano Marani.
Renergen believes a secondary listing on the ASX will enable it to “tap into a deeper pool of investors” to fund its expansion plans.
It hopes to raise A$5-million to fund a second phase of exploration at the Virginia project.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation