Page 33 - Energize April 2022

NEWS

Funding for Phase 2 helium/LNG

development and strategic partnership

with Ivanhoe mines

atural gas and helium The conditional option provides for funding of up to US$250 million (or greater at
producer, Renergen Limited, Ivanhoe’s election) towards up-scaling the Virginia Gas Project, following the imminent
Nhas announced that Ivanhoe commissioning and commencement of Phase 1 commercial production.
Mines Limited has made a significant Ivanhoe is a Canadian-listed, African-focused natural resources development
investment in the company through a company, led by its founder, Robert Friedland. Friedland’s track record in the discovery
placement of 5,6 million shares at just and development of major natural resource projects includes Platreef, a major
under R35,63 per share, a discount of development in South Africa.
5% to the 30-day volume-weighted This strategic investment in Renergen highlights the excellent growth of the company
average price (VWAP), raising an over the last two years and the potential of the Virginia Gas Project to become a globally
equivalent of R200,6 million. significant LNG and Helium operation.
The placement will give Ivanhoe
an initial strategic shareholding in the Click here to download the full, more detailed press release
company and could lead to Ivanhoe
becoming a strategic partner and Contact Stefano Marani, Renergen, Phone 010 045 6000, info@renergen.co.za,
major shareholder in Renergen. www.renergen.co.za

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