Licence et financement de projet géothermique croate
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5 Mars 2024
Cindrigo Holdings Limitée
(« Cindrigo » ou la « Société »)
Updates on Croatian Geothermal Project Licence and Funding
Cindrigo (LSE:CINH) announces that its subsidiary Dravacel Ltd ("Dravacel") has applied for a further six month extension to the exploration licence at its Slatina 3 geothermal project in Croatia (the "Project") which, when granted, will extend the expiration of the licence to the end of October 2024.
The request to extend the Slatina 3 licence for a further six months (the "Licence Extension") aligns with the regulatory framework of the Croatian Hydrocarbon Council and is required to be able to finish the work to move to an Exploitation Phase. The Company is confident that it has demonstrated that sufficient work has been done on the site to demonstrate its commitment and belief in the commercial viability of the Project, and that the Licence Extension will be granted shortly.
Tri Ri Asset Management ("TRAM") and Cindrigo have agreed to postpone the drawdown of funds from TRAM for Slatina 3 development, under the £10 million convertible loan with TRAM (see RNS dated 20 February 2024), until the Licence Extension is granted.
Whilst it was previously anticipated that deep drilling would be initiated during February 2024, Dravacel has, to accommodate the timing of the license extension and draw down of funds, paused further drilling operations at the Project site until the Licence Extension is confirmed. The Company believes that once the Licence Extension is granted, and funds are drawn down and work recommences, it will have sufficient time and remain in a position to progress the Project to the exploitation phase.
Commenting, Lars Guldstrand, CEO of Cindrigo said: "We believe that the decision to pause site operations and the drawdown of TRAM's funds until we receive confirmation of the licence extension represents a prudent approach to managing the Project and its funding requirements.
"We still have high confidence in the Slatina 3 project's potential which is underpinned by compelling geothermal data indicative of a high-quality reservoir. To date, nearly ?8 million has been invested in the Project, with approximately ?3 million allocated in 2024 alone, which illustrates our unwavering commitment to its success.".
**PREND FIN**
Pour plus d'information veuillez contacter:
Cindrigo Holdings Limitée
Lars Guldstrand CEO +44 (0) 7408 861 667
Hannam & Partners (Conseiller Financier et Corporate Broker)
Samuel Merlin, Sean Urquhart +44 (0) 20 7907 8500
St Brides Partners Ltd (RP)
Paul Dulieu +44 (0) 20 7236 1177
Notes:
Groupe Cindrigo is an active clean baseload power developer engaged in the renewable energy sector. Its current focus is on the construction of an initial 20 MW geothermal power plant located in Croatia, but a number of other projects are also underway, primarily in the Pannonian Basin of Central Europe.
Cindrigo vise à mettre en place des contrats pour des projets de centrales géothermiques d'une capacité sous contrat allant jusqu'à 200 MW d'ici un an, jusqu'à 450 MW d'ici trois ans et 1000 2030 MW d'ici XNUMX. Le financement de chaque projet de centrale électrique se fera principalement sur un plan structuré. base de financement de projet au sein de véhicules ad hoc pour chaque projet.
Cindrigo is in the process of seeking approval by the FCA of a prospectus in respect of its proposed application for re-admission to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange.
Énoncés prospectifs This press release contains forward-looking statements that involve risks and uncertainties. These statements are not guarantees of future performance, and actual results may differ materially. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
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