Further to the announcement of 24 November 2017, Regency Mines Plc, the natural resource exploration and development company with interests in hydrocarbons and base metals, announces that it has entered into a Memorandum of Understanding with Legacy Hill Resources Ltd (“LHR”), a privately owned mining company, for co-operation in structuring, financing and owning coal investments in the U.S. LHR has a multi-disciplinary team centred on technical and operational expertise gained in engineering, mining consulting, geology and management of mining businesses.
LHR are reviewing a number of projects and will assist Regency in the due diligence on the Rosa Mine in Alabama, in which the Company announced on 24 November 2017 that it had an option to acquire the 80% interest not already held.
Andrew Bell, Chairman, comments:
“Legacy Hill has a focus on adding value for its shareholders through efficient mine operation, and has been actively seeking out opportunities in the coal sector. Both internationally and in the United States, its management have specific expertise in coal mining. Legacy Hill personnel also have a track record in structuring and raising finance for large projects. After nearly two years of sharing offices with them, we have come to know them well and believe that their complementary skills and compatible styles will make for a successful co-operation.”
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