Monumental Energy Provides Operational Update and Outlook FOR H1 2024
MONUMENTAL ENERGY PROVIDES
OPERATIONAL UPDATE AND OUTLOOK FOR
H1 2024
VANCOUVER, BC
,
Feb. 7, 2024
/CNW/ - Monumental Energy Corp. ("
Monumental
" or the
"
Company
") (TSXV: MNRG) (FSE: BE5) (OTCQB: MNMRF) is pleased to provide an operational
update and outlook for the first half of 2024.
Chile
On
November 5, 2023
, the Company appointed
Mariana Cervetto
as Vice President, Chile
Operations. With over 15 years of expertise in geology, hydrogeology, mining advisory,
environmental assessments, and community engagement, Mariana brings invaluable insight to foster
valuable advancements in
Chile
. Ms. Cervetto's immediate focus is to cultivate strong relationships
between Monumental and the indigenous communities, Ayquina and Toconao, to facilitate exploration
approvals and ensure the development of long-term partnerships crucial for advancing our Chilean
projects.
The Company has received an invitation to present before the Toconao Community in
March 2024
,
regarding the Laguna Blanca project. Pursuant to the Community's request, Monumental has
prepared a filing for the Environmental Assessment Service ("
EAS
") confirming that the project does
not require specific Environmental Approval, such as a Declaration of Environmental Impact or an
Environmental Impact Study. The EAS has been finalized and is poised for submission pending the
meeting with the Community to present Monumental's exploration proposal, with the intentions of
materializing Community approvals necessary to advance the Laguna Blanca exploration program.
The Company anticipates constructive discussions with the Community and advancing cooperative
endeavors aimed at the sustainable development of the Laguna Blanca project.
New Zealand Energy Corp. Investment
On
December 12, 2023
, Monumental Energy disclosed its strategic investment in
New Zealand
Energy Corp. ("
New Zealand Energy
"), positioning itself as the second-largest shareholder. New
Zealand Energy, set to become a substantial player in the onshore
New Zealand
oil and gas sector,
boasts substantial permitted land holdings and a portfolio of previously operational oil wells, currently
undergoing workovers for immediate production. Additionally, New Zealand Energy plans (subject to
financing) to drill its primary target, the Tariki-5 gas well, in the forthcoming months, anticipating
potential cash flow generation to sustain operations and potentially offer dividends to shareholders in
the event of significant success. This investment underscores Monumental Energy's commitment to
fostering growth opportunities and maximizing returns for its stakeholders in the energy sector.
On
December 14, 2023
, Monumental Energy announced the appointment of
Frank Jacobs
who is
the largest shareholder New Zealand Energy to its board of directors, bringing the two companies
closer together.
Maximilian Sali
, VP of Corporate Development, remarked,
"The team at NZEC has demonstrated
exceptional agility in swiftly evaluating and initiating workovers on numerous oil wells with
substantial historical production, gearing up to bring them online as they prepare for the pivotal but
de-risked Tariki-5 gas well drill. With a current float of just over 8 million NZEC shares,
Monumental Energy stands poised to see significant benefits from this investment. It's worth noting
the challenge of building a position in NZEC, making MNRG the optimal vehicle for participation.
Furthermore, NZEC's receipt of Brent crude USD pricing for all oil sales and an average of $NZ 9-
12 per MCF of gas, notably surpassing North American prices, underscores the promising
potential of this venture."
Currency $1 dollar
USD
CAD
NZ
.60 as of Feb 6, 2024
.081 as of Feb 6, 2024
Source www.xe.com
About Monumental Energy Corp.
Monumental Energy Corp. is an exploration company focused on the acquisition, exploration, and
development of properties in the critical and clean energy sector. The Company has an option to
acquire a 75% interest and title to the Laguna cesium-lithium brine project located in
Chile
and a
50.01% interest in the Salar De Turi lithium project in
Chile
. The Company has an option to acquire a
100% interest in the Jemi HREE project located in
Coahuila, Mexico
near the
Texas, USA
border.
The Company owns securities of New Zealand Energy Corp.
On behalf of the Board of Directors,
/s/ "Michelle DeCecco"
Michelle DeCecco
,
Interim Chief Executive Officer and Director
Contact Information:
Email:
Or
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Forward Looking Information
This news release contains "forward–looking information or statements" within the meaning of
applicable securities laws, which may include, without limitation, the potential plans for the
Company's projects, submitting the EAS and obtaining Toconao Community approval at Laguna
Blanca to carry out exploration programs, the potential drilling to be completed by New Zealand
Energy and the expected outcomes, other statements relating to the technical, financial and business
prospects of the Company, its projects and other matters. All statements in this news release, other
than statements of historical facts, that address events or developments that the Company expects
to occur, are forward-looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may differ materially from
those in the forward-looking statements. Such statements are based on numerous assumptions
regarding present and future business strategies and the environment in which the Company will
operate in the future, including the price of metals and oil and gas, the ability to achieve its goals,
that general business and economic conditions will not change in a material adverse manner and that
financing will be available if and when needed and on reasonable terms. Such forward-looking
information reflects the Company's views with respect to future events and is subject to risks,
uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of
exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the
potential for unexpected costs and expenses and those other risks filed under the Company's profile
on SEDAR at
www.sedarplus.ca
. While such estimates and assumptions are considered reasonable
by the management of the Company, they are inherently subject to significant business, economic,
competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ
materially from those in forward looking statements include, but are not limited to, continued
availability of capital and financing and general economic, market or business conditions, failure to
secure personnel and equipment for work programs, adverse weather and climate conditions, risks
relating to unanticipated operational difficulties (including failure of equipment or processes to
operate in accordance with specifications or expectations, cost escalation, unavailability of materials
and equipment, government action or delays in the receipt of government approvals, industrial
disturbances or other job action, and unanticipated events related to health, safety and
environmental matters), risks relating to inaccurate geological assumptions, failure to maintain all
necessary government permits, approvals and authorizations, failure to obtain surface access
agreements or understandings from local communities, land owners or Indigenous groups, fluctuation
in exchange rates, the impact of Covid-19 or other viruses and diseases on the Company's ability to
operate, capital market conditions, restriction on labour and international travel and supply chains,
decrease in the price of rare earth elements, lithium, cesium and other metals, decrease in the price
of oil and gas, loss of key employees, consultants, or directors, failure to maintain or obtain
community acceptance (including from the Indigenous communities), increase in costs, litigation, and
failure of counterparties to perform their contractual obligations. The Company does not undertake
to update forward–looking statements or forward–looking information, except as required by law.
All information in this news release concerning New Zealand Energy Corp. (NZ Energy) has been
reviewed and approved by NZ Energy. Although the Company has no knowledge that would indicate
that any information contained herein concerning NZ Energy is untrue or incomplete, the Company
assumes no responsibility for the accuracy or completeness of any such information.
SOURCE
Monumental Energy Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/February2024/07/c8972.html
%SEDAR: 00050941E
CO: Monumental Energy Corp.
CNW 08:00e 07-FEB-24