{"id":17860,"date":"2025-05-19T03:54:10","date_gmt":"2025-05-19T03:54:10","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/19\/uvre-to-acquire-highly-prospective-gold-exploration-projects-in-new-zealand\/"},"modified":"2025-05-19T03:54:10","modified_gmt":"2025-05-19T03:54:10","slug":"uvre-to-acquire-highly-prospective-gold-exploration-projects-in-new-zealand","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/19\/uvre-to-acquire-highly-prospective-gold-exploration-projects-in-new-zealand\/","title":{"rendered":"Uvre to Acquire Highly Prospective Gold Exploration Projects in New Zealand"},"content":{"rendered":"<\/p>\n

Uvre Limite<\/strong>d (ASX: UVA) (the Company or Uvre) is pleased to announce that highly regarded mining entrepreneurs Norman Seckold and Peter Nightingale will be appointed non-executive directors of Uvre with effect from settlement of the acquisition by the Company of 100% of the issued share capital of MEL (Acquisition). Norman Seckold and Peter Nightingale will emerge with 16.5% and 1.3% respective stakes in the Company upon settlement of the Acquisition and Equity Raise. <\/p>\n

Highlights<\/strong><\/p>\n

Uvre has signed a binding agreement to acquire 100% of the fully paid ordinary shares in the capital of Minerals Exploration Limited (MEL) from the shareholders of MEL (Vendors). MEL\u2019s wholly owned subsidiary is New Zealand gold explorer Otagold Limited (Otagold).
\nHighly regarded mining executives Norman Seckold and Peter Nightingale, who are major shareholders of MEL, will join Uvre as Non-executive Directors.
\nNorman Seckold was previously Chairman of the New Zealand gold developer Santana Minerals (ASX:SMI) and is currently Chairman of Alpha HPA (ASX:A4N), Nickel Industries (ASX:NIC), Fulcrum Lithium (ASX:FUL) and Sky Metals (ASX:SKY).
\nSubject to receipt of Shareholder approval, Uvre will issue 75 million fully paid ordinary shares in the capital of Uvre (Shares) at a deemed issue price of 8c per Share for a total of $6.0 million as the full consideration to the Vendors, including Mr Seckold who is the largest shareholder of MEL.
\nThe acquisition of MEL is subject to completion of several conditions precedent, including due diligence on MEL, Otagold and the permits held by Otagold. The acquisition is also contingent on Uvre raising at least $4.0 million in a single tranche share placement at 8c per Share, to be lead managed by Bell Potter Securities Ltd (Equity Raise). The Equity Raise will be subject to shareholder approval.
\nFirm commitments have been secured for the $4.0m Equity Raise following a well-supported bookbuild, including incoming directors Norman Seckold ($500,000) and Peter Nightingale ($100,000) subject to shareholder approval.
\nOtagold holds a 100% interest in three exploration permits, one prospecting permit and one prospecting permit application in New Zealand covering 332sqkm of highly prospective ground (the Permits).
\nOtagold\u2019s flagship asset is the Waitekauri Gold Project located 8km west of OceanaGold Corporation\u2019s Waihi gold mine (10Moz) on New Zealand\u2019s North Island; Waitekauri also sits adjacent to three other +1Moz Au deposits.
\nExtensive gold mineralisation and numerous drilling targets already identified at Waitekauri, which had historical production grade of 48g\/t Au+Ag.
\n Uvre has executed a binding Share Sale Agreement (SSA) with the Vendors, MEL and Otagold with due diligence well advanced; Uvre will shortly call a shareholder meeting to approve the transaction, expected to be around the end of June 2025. <\/p>\n

<\/div>\n

Uvre Executive Chairman Brett Mitchell said:<\/strong><\/p>\n

\u201cThis transaction is an exceptional opportunity for Uvre on several levels.<\/em><\/p>\n

\u201cNorm and Peter will bring a wealth of knowledge and experience in the resources business, along with a track record of creating substantial shareholder value through resource asset exploration and pro\u012fect development.<\/em><\/p>\n

\u201cThe Otagold pro\u012fects led by Waitekauri have compelling gold exploration upside in a tier-one \u012furisdiction, as shown by the extensive mineralisation and drilling targets already identified.<\/em><\/p>\n

\u201cThe combination of Norman\u2019s well-known record in building successful mining pro\u012fects combined with the talented Uvre team, the immense exploration upside at these pro\u012fects and the strong financial position which will follow the placement will leave Uvre very well-placed to create significant value\u201d.<\/em><\/p>\n

Norman Seckold said:<\/strong><\/p>\n

\u201cThis transaction will enable Uvre to unlock what we believe is the substantial value of these pro\u012fects.<\/em><\/p>\n

\u201cWe will have the assets, the team, the experience and the financial strength to conduct the immediate exploration programs which will maximise our ability to create value.<\/em><\/p>\n

\u201cThe work we have already done on the pro\u012fects shows they are highly prospective and with the support of the Uvre team and access to capital, we can take them to the next level with the aim of building substantial gold inventories in a tier one location\u201d.<\/em><\/p>\n

Otagold Projects Summary<\/strong><\/p>\n

Otagold holds a 100% interest in three exploration permits, one prospecting permit and one prospecting permit application on New Zealand\u2019s North and South Islands, covering 332km2 of highly prospective ground. <\/p>\n<\/p>\n

Click here for the full ASX Release<\/strong><\/p>\n

<\/div>\n
This article includes content from Uvre Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.<\/em><\/div>\n<\/p>\n
This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Uvre Limited (ASX: UVA) (the Company or Uvre) is pleased to announce that highly regarded mining entrepreneurs Norman Seckold and Peter Nightingale will be appointed non-executive directors of Uvre with effect from settlement of the acquisition by the Company of 100% of the issued share capital of MEL (Acquisition). Norman Seckold and Peter Nightingale will […]<\/p>\n","protected":false},"author":0,"featured_media":17861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-17860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17860"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17861"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}