Resource News

Buffalo Coal Corp. (TSXV: BUF) announces that, further to the transaction between Resource Capital Fund V L.P. ("RCF V") and Belvedere Resources DMCC ("Belvedere") for the transfer of ownership of RCF V's securities holdings in the Company previously announced in the press release of the Company dated as of June 15, 2022, the board of directors of the Company (the "Board") is pleased to confirm the appointment of Mr Alok Joshi as non-executive Board member with effect as of August 4, 2022.

Mr Joshi has more than two decades' global leadership experience, built over mining and manufacturing industry segments and geographically spread across Africa, South-East Asia, Western Europe, Australia and the Middle East. Mr Joshi specialises in cross-border mergers and acquisitions and will continue in his current role as Director Finance of Belvedere, based out of Dubai, UAE where he leads Belvedere's strategic growth and investment initiatives.

He played a pivotal role in the financial restructuring of Ikwezi Mining Limited, a South African based coal mining and processing company listed on the Australian Stock Exchange, as its director from 2015 to 2020, and has a strong understanding of the South African and global coal markets. Mr Joshi also led Cemza (Pty) Ltd as its CEO, steering the greenfield venture to become a leading South African cement brand. He graduated from Sydenham College, Mumbai, articled with KPMG in India and is a Chartered Accountant (India).

Craig Wiggill, the chairman of the Board, commented as follows: "We are pleased that Alok will be joining the Buffalo Coal Board as a representative of Belvedere Resources DMCC. Both our Board and management team look forward to working with him in furtherance of our Company's goals."

About Buffalo Coal

Buffalo is a coal producer in South Africa. It holds a majority interest in two operating mines through its 100% interest in Buffalo Coal Dundee Proprietary Limited, a South African company which has a 70% interest in Zinoju Coal Proprietary Limited ("Zinoju"). Zinoju holds a 100% interest in the Magdalena bituminous mine, the Aviemore East anthracite mine and the Balgray and North Adit anthracite projects in South Africa. Buffalo Coal has an experienced coal-focused management team.

The Company has its primary listing on the TSX Venture Exchange and has a secondary listing on the Alternative Exchange, operated by the JSE Limited.

Forward-Looking Statements

This press release may contain forward looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward looking information. The Company does not undertake any obligation to update such forward looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither the TSX Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:

Mr Craig Wiggill
Chairman of the Board
Email: info@buffalocoal.co.za

Registered office:
Greytown Road
Industrial Area
Dundee
KwaZulu-Natal
3000

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132965

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BUF:CA
Acquisition of Majority Stake in Buffalo Coal Complete

Acquisition of Majority Stake in Buffalo Coal Complete

Buffalo Coal Corp. (TSXV: BUF) announces that, further to the transaction between Resource Capital Fund V L.P. ("RCF V") and Belvedere Resources DMCC ("Belvedere") for the transfer of ownership of RCF V's securities holdings in the Company as previously announced in the press release of the Company dated as of June 15, 2022, that all administrative matters required to give effect to the transaction were completed on August 5, 2022.

The Company further advises that engagements with Investec Bank Limited, as previously announced in the press release of the Company dated as of July 5, 2022 are ongoing.

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Buffalo Coal Corp: Investec Bank Limited Change of Control Notice

Buffalo Coal Corp: Investec Bank Limited Change of Control Notice

Buffalo Coal Corp. (TSXV: BUF) announces, that that on July 4, 2022 the Company received notice from Investec Bank Limited ("Investec") that, on completion of the remaining administrative matters required to give effect to Belvedere Resources DMCC's ("Belvedere") acquisition of a majority stake in the Company, as announced by the Company on June 15, 2022, that Investec will exercise its rights to demand full repayment of all outstanding loans, together with all accrued interest and all other amounts accrued in terms of the Term loan and Revolving credit facility agreement ("the Facility Agreement") between the Company and Investec. As at June 30, 2022 the total amount owing to Investec amounted to R53,884,936 (approximately CAD4,244,516.41 using yesterday's Bank of Canada exchange rate), which amount is inclusive of royalties payable on sales generated by the Company's Magdalena bituminous mine.

The Company and Belvedere have been in discussions regarding a grace period within which the mandatory repayment under the Facility Agreement will occur and Investec has requested a proposal in this regard. The Company would need to rely on funding provided by Belvedere to settle the amounts owing to Investec, the terms of which have yet to be agreed.

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Natural Resource Partners L.P. Establishes Five-Year Credit Facility Maturing August 2027

Natural Resource Partners L.P. Establishes Five-Year Credit Facility Maturing August 2027

Natural Resource Partners L.P. (NYSE: NRP) announced today it successfully completed an amendment and five-year extension of NRP Operating's revolving credit facility. Lender commitments are $102.5 million, and additional commitments can be added to expand the facility to $132.5 million.

"This new five-year credit facility will provide significant liquidity and allow us to accelerate the repayment of our 2025 Senior Notes and Preferred Units," said Craig Nunez, NRP's president and chief operating officer.

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Enterprise Group Announces Results for Second Quarter 2022

Enterprise Group Announces Results for Second Quarter 2022

Enterprise Group, Inc. (TSX: E) (the "Company" or "Enterprise"). Enterprise, a consolidator of energy services (including specialized equipment rental to the energyresource sector), emphasizing technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for small to Tier One resource clients, is pleased to announce its Q2 2022 results.

Three months
June 30, 2022
Three months
June 30, 2021
Six months
June 30, 2022
Six months
June 30, 2021
Revenue$5,297,685 $3,225,543 $12,927,103 $9,084,830 
Gross margin$1,610,18830%$580,31218%$5,131,97340%$3,306,69936%
Adjusted gross margin(1)(2)$1,610,18830%$120,9504%$5,131,97340%$2,046,82123%
Adjusted EBITDA(1)(2)$1,015,97819%$(394,835)(12)%$4,045,80331%$1,070,54712%
Net (loss) income and comprehensive (loss) income$(513,268) $(1,626,547) $1,164,744 $(1,532,910) 
(Loss) income per share - Basic$(0.01) $(0.03) $0.02 $(0.03) 
(Loss) income per share - Diluted$(0.01) $(0.03) $0.02 $(0.03) 


(1) Identified and defined under "Non-IFRS Measures".

(2) The Canadian Emergency Wage Subsidy and Rent Subsidy Programs ended in October 2021. Starting in Q4 2021 to provide further comparability to pre-COVID operations, the Company has presented an Adjusted Gross Margin and Adjusted EBITDA to reflect the results of operations without any subsidy programs.

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Meeka Metals

Significant New Discovery at St Anne's

Meeka Metals Limited (“Meeka” or “the Company”) is pleased to report assays from a further thirty-eight aircore holes drilled at St Anne’s, part of the 100% owned Murchison Gold Project, during July 2022.

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VIDEO — Dr. Nomi Prins: Permanent Distortion is Here, Which Sectors Will Benefit?

Dr. Nomi Prins: Permanent Distortion is Here, Which Sectors Will Benefit?youtu.be

The US Federal Reserve has been at the top of investors' minds as it tries to tame inflation, but according to Dr. Nomi Prins, this is not where market participants should be focusing their attention.

"The Fed and other central banks basically pumped a lot of money into the system over a lot of years, and went into overdrive post-COVID," she explained at the Rule Symposium, noting that this has distorted asset values. "You can't underscore enough that we have to avoid the noise of the markets and the Fed and everything else."

Dr. Prins is a geopolitical financial expert, investigative journalist and best-selling author, and she explained that what's important is to understand where money is flowing in these circumstances.

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Altiplano Discovers New Zone at Maria Luisa; Drills 10.50 Metres of 3.76 g/t Gold and 3.83% Copper

Altiplano Discovers New Zone at Maria Luisa; Drills 10.50 Metres of 3.76 g/t Gold and 3.83% Copper

Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to announce a new discovery at the Maria Luisa Project (the "Project"), located 100 km north of La Serena within the Atacama region in Incahuasi, Chile. Drill hole 22MLDDH012 intersected 10.50 metres (m) of 3.76 grams per tonne (gt) gold (Au) and 3.83% copper (Cu), including 3.00 m of 2.30 gt Au and 8.26% Cu, and 4.50 m of 6.03 gt Au and 2.19% Cu; results are in Table 1. This drill hole was collared at the 867 m level of the current underground workings at Maria Luisa.

Program Highlights

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Anson Resources

Anson Confirms Resource Expansion Potential of Western Expansion Claims at Paradox Lithium Project

New Western Claims exhibit Similar Geology and Pressures as Eastern area of Project

Anson Resources Limited (Anson or the Company) is pleased to announce that an assessment of recently pegged new claims on the western extent of the Project has confirmed the continuation of favourable geological structures and confirmed the Resource expansion potential in the Western area at the Paradox Lithium Project in Utah, USA (the Project).

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