{"id":114661,"title":"MetalNRG (LON:MNRG) Disposal of stake in EQTEC Italia MDC waste business","publisher":"Share Talk","author":"sharetalk","published":"2024-05-31T08:46:23+00:00","modified":"2024-05-31T08:46:23+00:00","canonical_url":"https://www.share-talk.com/metalnrg-lonmnrg-disposal-of-stake-in-eqtec-italia-mdc-waste-business/","markdown_url":"https://www.share-talk.com/metalnrg-lonmnrg-disposal-of-stake-in-eqtec-italia-mdc-waste-business.md","json_url":"https://www.share-talk.com/metalnrg-lonmnrg-disposal-of-stake-in-eqtec-italia-mdc-waste-business.json","category":"Renewable","categories":["Renewable"],"tags":["Australia","BritNRG","Castiglione d'Orcia","Christian Schaffalitzky","EQTEC","Gold","Imwelo","Italia","Italy","Lake Victoria","MetalNRG plc","MNRG","Pierpaolo Rocco","Rolf Gerritsen","Seth Dickinson","Tanzania","Tanzoz Minerals Ltd","Tuscany"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/05/MNRG-31-MAY.webp?fit=1200%2C800&quality=80&ssl=1","format":"news","language":"en-GB","content":"MetalNRG has sold its 10.97% stake in EQTEC Italia MDC, a waste-to-energy plant operator in Tuscany, to the provider of its unsecured facility agreement.\n\nA strategic review identified the holding in Italia MDC as non-core, prompting MetalNRG to seek an exit from the investment.\n\nThe lender will acquire the stake for just over £316,000, the amount currently drawn down on the lending facility, which will then be cancelled.\n\nAs of 31 December 2023, Italia MDC had a book value of approximately £605,000.\n\nRolf Gerritsen, executive director, commented: “As previously indicated, the holding in Italia MDC was considered non-core as MetalNRG focuses on growth and value creation in the mining sector.\n\n“We are pleased to have secured this sale, which also removes a liability from the company’s balance sheet. We continue to pursue several exciting potential reverse takeover targets for the company.”"}