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Quarter Update Ending 30th June Update

18 06 2023

On 3 April 2023, Leaf completed a placement of securities to Formosa Group Australia Pty Ltd in the amount of $3.024 million via the issue of 252 million ordinary shares at $0.012, with attaching options at an exercise price of $0.045 and an expiry date of 31 December 2025 (“Placement”). The options were subsequently approved by shareholders on 13 June 2023.

On 6 April 2023, Leaf welcomed the appointment of two new Directors to the Board. Mr Pai-Heng (Henry) Cheng and Dr Maurizio (Maurice) Fabiani were appointed as Executive Directors and are working closely with Managing Director, Mr Ray Mountfort, to advance the development of Leaf’s New Zealand project.

Simultaneously, Mr Ken Richards and Mr Doug Rathbone stepped down from the Board. Mr Henry Cheng was subsequently appointed as Chairman of the Company. Commenting on his appointment, Mr Cheng said “I am both delighted and honoured to assume the role as Chairman of Leaf Resources Limited. I Look forward to working with the Board and Management of Leaf to shape the strategic direction and fulfil the business aspirations of the company”.

The Company has continued its negotiations for the lease of the site located at Rotorua, New Zealand. Inline with New Zealand legislation, the Company is also in the process of obtaining approval from the Overseas Investments Office to enter into the lease and build substantial infrastructure and operations.

The Company is working on securing precommitments for both supply and offtake agreements. Leaf welcomed Ground Base Solutions Ltd (“GBS”) as a strategic business partner and has signed a Term Sheet for the supply of approximately 100,000 tonnes per annum of stumps. The Term Sheet is conditional on the Company construction and commissioning of the manufacturing facility (Condition Precedent) and will have a term of five (5) years from the date of satisfaction or waiver of the Condition Precedent.

Mr Drew Speedy resigned from his role as Company Secretary, effective 30 June 2023. Mr Mark Licciardo was appointed Company Secretary, effective from 1 July 2023. Mr Licciardo is Managing Director of Listed Company Services at Acclime Corporate Services Australia Pty Ltd which provides company secretarial and corporate governance services to ASX listed, unlisted public, and private companies.


Latest News

Quarter Update Ending 30th June Update
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Foresta NZ signs Term Sheet with Tailored Energy Resources Foresta Group Holdings Limited
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Quarter Update Ending 30th June Update
18 06 2023
Quarter Update Ending 30th June Update
Appointment of Chairman
25 06 2023
We are pleased to announce that the Board has appointed Mr Pai-Heng (Henry) Cheng as Chairman of Foresta.
Foresta Signs Term Sheet with Ground Base Solutions
13 06 2023
Foresta is pleased to announce that it has signed a Term Sheet with Ground Base Solutions Ltd
01 08 2019
Watch the shareholder webinar recorded on Wednesday November 2nd 2022.