IR-News

AUSSENDER



Nowea Energy Inc.
Ansprechpartner: Investor Relations
Tel.: +1 775 686-2400
E-Mail: ir@noweaenergy.com

WEITERE IR-NEWS

05.08.2022 - 22:35 | BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft
05.08.2022 - 18:23 | Erste Group Bank AG
05.08.2022 - 17:05 | CA Immobilien Anlagen AG
pta20211021027
Business news for the stock market

Nowea Energy Inc.: Clean & green european mining project


Reno, NV (pta027/21.10.2021/15:00) - As already informed NOWEA ENERGY INC. currently owns a 10% stake in a company, which itself owns roundabout 85% in a potential boron lithium mining project in Eastern Europe. With this corporate news we are pleased to present a brief summary of the news provided to us by the management of this company:

Evaluation of the Stage III Exploration Drillings as well of the Metallurgical Testing is nearly finished

In the ore body encountered, the minerals boron and lithium occur largely in separate layers. This allows for an efficient and simple process for mining and processing the ore. Currently, various tests are still underway to find the most optimal methode for processing. According to metallurgists, such a methode should be available by the end of the year.

"Clean & green european mining project"

The European Union has on its agenda that environmental issues will also play a strong role in the field of raw material extraction in the future. As a result, "sustainability" will become a major priority for mining projects, as in our case. In addition, the dependence on non-European raw material suppliers has to be significantly reduced. This project can fulfill both requirements of the European Union and therefore offers a great opportunity for the EU to achieve its goals. The start of production would significantly reduce the EU's dependence on imports for the raw materials boron and lithium.

Application for financing through the EIB

The mining company submitted a financing application to the European Investment Bank (EIB) earlier this month. Currently, the EIB is conducting a multi-stage intensive due diligence. The planned financing will be used, among other things, to implement the construction of the industrial pilot plant. The company intends to use this to further optimize the methode involved in the processing of lithium and boron and, above all, to increase the scaling effects in production. Due to the size of the ore body, important economic advantages are expected.

Market environment / initial talks with potential major customers

The market environment in connection with raw materials, especially with regard to lithium, is developing disproportionately positively in our view. The automotive industry is focusing very strongly on the electric drive and is meanwhile talking about the death of the combustion engine. For the first time in history, not a single new vehicle with an internal combustion engine was presented by exhibitors at one of the world's largest automotive trade shows (IAA in Munich).

VW AG, for example, is consistently focusing on electromobility and wants to become the world's largest manufacturer of electric vehicles. To achieve this goal, VW alone will need a large part of the world's lithium production. Automotive suppliers are also expanding their product ranges and are planning to enter battery production, for example (Robert Bosch AG).

In recent weeks, there have been initial constructive discussions between the management of the mining company and potential major customers with a positive response.

Raw material market for lithium

Since the beginning of the year, the price for lithium carbonate has moved strongly upwards (see https://tradingeconomics.com/commodity/lithium ). Currently, one ton of lithium carbonate pays about USD 26,000. This price increase has significantly increased the value of the deposit of our investment and it is expected that prices will continue to rise.

Conclusion and next steps

Recent developments and results have significantly exceeded our expectations. Currently, we can state that this resource deposit is one of the largest boron lithium ore bodies in Europe. The geology is promising and the extraction of the ore should be quite cost effective due to open-pit mining combined with economically favorable processing methods. This indicates that it will probably be possible to operate the mine at a lower cost than originally planned.

The expanded extent of the ore body on the one hand, with further increases in commodity prices on the other, will continue to have a significant positive impact on the value of our investment.

In the short term, further requirements for a "feasibility study" are to be met. This study will then form the basis for a "bankable feasibility study", which is required for the financing of the mine by a bank consortium.

We are currently evaluating various options to establish a fungibility of our asset for our shareholders. In intensive discussions with our advisors (M&A advisors, lawyers, tax advisors and auditors) we are currently working out together the tactically and strategically optimal implementation and necessary steps. At present, this is expected to be completed by the end of the first quarter next year.

We are very happy with the positive development of our investment.

Investor Relations / October 21, 2021

About NOWEA ENERGY Inc.: NOWEA ENERGY is an investment and private equity company with a strong focus on emerging, innovative companies. In particular we offer capital and expertise combined with a wide range of services to growth companies in the energy sector. Innovative companies from various future-oriented industries, such as mobility, e-mobility, energy, mining (strategic raw materials) as well as smart home and industry 4.0, are the focus of our investment. If necessary, further information can be obtained on the Internet at https://noweaenergy.com/

Disclaimer/Forward Looking Statements: This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts and may be "forward looking statements". Forward looking statements may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or by statements indicating certain actions "may", "could", "should" or "might" occur. Although we believe that our plans, intentions and expectations reflected in these forward-looking statements are reasonable, these plans, intentions and expectations may not be achieved. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained in this release and our filings with the SEC. Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. This information does not constitute an offer to sell or a solicitation of an offer to purchase any securities of the company. Readers of this information are requested to inform themselves about, and to observe, any possible restrictions.

(end)
emitter: Nowea Energy Inc.
200 S Virginia St 8th Floor
89501 Reno, NV
United States of America (USA)
contact person: Investor Relations
phone: +1 775 686-2400
e-mail: ir@noweaenergy.com
website: www.noweaenergy.com
stock exchanges: -
ISIN(s): US67012L1089 (share)
|
|
98.722 Abonnenten
|
201.738 Meldungen
|
83.486 Pressefotos

BUSINESS

05.08.2022 - 13:30 | pressetext.redaktion
05.08.2022 - 12:35 | SRH AlsterResearch AG
05.08.2022 - 11:55 | SRH AlsterResearch AG
05.08.2022 - 11:50 | SRH AlsterResearch AG
05.08.2022 - 10:30 | Agentur comm.in
Top