MetalNRG said it is continuing to assess a number of potential new projects that meet its investment criteria.
Over the past six months, the resources investor set up BritNRG to acquire a distressed UK onshore Oil & Gas company with operating and exploration licenses.
Work at the Goldridge gold project in Arizona had also progressed well, it said.
Exploration is underway to assess the connectivity between the previously producing gold mines to get a detailed understanding of the geological structure on the property and the initial findings are encouraging, said today’s statement..
Earlier in the year, MetalNRG also announced a partnership agreement with EQTEC PLC (AIM:EQT) to seek “shovel ready” green sustainable waste to energy projects with the first project a recommissioning of a 1MW waste-to-energy plant in Italy.
The plant will transform straw and forestry wood waste from local farms and forests into green electricity and heat for use in the local community.
IMC, which has a Uranium project in Kyrgyzstan that is currently on hold due to its government’s current ban on the exploitation of uranium in the country, will also continue to receive its support.
MetalNRG reported an unaudited operating loss for the six months period ended 30 June 2021 of GBP890,354 (GBP386,304).