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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
$1M Placement to Accelerate Kawerau Biomass Manufacturing Project
23 05 2024
Funds raised under the Placement will be applied to accelerate the torrefied “black” pellets and pine chemical manufacturing facility project in Kawerau, New Zealand.
Latest Interviews and Podcasts
13 05 2024
Ray Mountfort has recently participated in a number of interviews. Catch up on them all here:
Toi EDA forum in Kawerau
06 05 2024
Last week Ray attended a forum held by The Economic Development Agency for the Eastern Kawerau.
Foresta Signs Long-Term Offtake Purchase Contract with AV Pound & Co Limited
29 04 2024
in the relation the supply of 2,000 tonnes per annum of natural wood rosin
Foresta Signs 10 Year Supply Agreement with PF Olsen
29 04 2024
This contractual arrangement represents the supply of 150,000 tonnes per annum of logs, stumps and slash
Planned plant to produce low emissions fuel to replace coal a step closer with agreement to lease Kawerau site
08 04 2024
Agreement to lease signed for Kawerau site
Foresta Signs a Harvesting Contract with Silvertree Biomass Solutions.
25 03 2024
We are thrilled to share that Foresta has signed a significant ten-year Harvesting Contract with Silvertree Biomass Solutions Limited (“SILVERTREE”).
Pine Gold Rush: From Rosin and Terpenes to Invaluable Alternatives, Transforming Industries and Phasing Out Petroleum Dependence
25 03 2024
Pine trees, cultivated globally, are a versatile resource for various products. Beyond providing timber and cellulose for paper production, pine trees yield oleoresin, from which an array of chemical products is extracted.
Forestry Research Updates
15 01 2024
Our forestry team has been hard at work in the heart of the forests
Foresta NZ signs supply contract with Tailored Energy Resources Limited
20 12 2023
Foresta NZ and TER have now signed a binding ten (10) year Supply Agreement to supply up to 65,000 tonnes of torrefied wood pellets per annum
Navigating New Zealand’s Transition from Coal-Fired Boilers to Sustainable Alternatives
21 11 2023
Optimising Forest Ownership: A Comprehensive Approach to Progressive Harvesting and Slash Utilisation
21 11 2023
In the realm of responsible forest management, maximising value for forest owners is not just about harvesting timber but entails a holistic approach.
Placement To Raise $2.333M
06 10 2023
Foresta is pleased to announce that it has received strong interest and firm commitments for a placement of new fully paid ordinary shares
Office Launch In Papamoa
27 09 2023
Foresta celebrated the opening of its company office in Papamoa, New Zealand.
Update from Managing Director
20 09 2023
Shareholder Update from Managing Director
Overview of Rotorua flagship project
29 08 2023
Foresta is pleased to provide a brief overview of our flagship project centred on the construction and commissioning
Foresta signs Term Sheet with Tailored Energy Resources
11 08 2023
Foresta NZ signs Term Sheet with Tailored Energy Resources Foresta Group Holdings Limited
New Technology Patent Filed
28 07 2023
Leaf is pleased to announce the filing of a new technology patent with IP Australia
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.