79th Group Announces Commencement of Ivy House Redevelopment Project

The property development company 79th Group are pleased to provide all stakeholders with an exciting update on the progress of their Ivy House project, situated near the historic market town of Ormskirk.

Following Seventy Ninth Luxury Living's purchase of the site in January, the company is delighted to announce that renovation works on the site are due to begin imminently.

ABOUT THE PROJECT

The works at Ivy House will see the conversion of a stunning countryside property situated in Scarisbrick – an exclusive area near the historic market town of Ormskirk – into three luxury homes.

This property provides the perfect blend of period charm and modern country living in the beautiful Lancashire countryside, consisting of a country house, derelict barn and garage complex, with the house alone extending to an impressive 4204 square feet.

The home is ideally placed for quick and easy access to local amenities and highly regarded local schools, with Scarisbrick Private School only a two-minute walk away from the property. Residents can also benefit from excellent transport links, with towns such as Southport, Ormskirk and Burscough just a short distance away. Exceptional golf courses, including Royal Birkdale, Hurlston Hall and Hillside, are also only a short drive away.

To give stakeholders an idea of the scale of the site, the company have prepared a short video showing some drone footage of the site. You can watch this below.

NEXT STEPS FOR THE PROJECT

Following the successful purchase of the site, renovation of the primary existing dwelling is set to begin imminently. Additionally, planning variation is in the process of being submitted for the redesign of the other two buildings on the site.

The company will, of course, be keeping all of their stakeholders informed of key progress updates on the site's development.

79th Group Chairman Dave Webster Said:

We are delighted to be progressing onto the next key stage of this project's development, and we look forward to seeing the results of our continued efforts and investment come to fruition.

As always, I would like to thank you – and all of our stakeholders – for your continued support.

For further information on the 79th Group’s developments and investment offerings, find out more by enquiring directly today. Click here.

Watch 79th Group’s Latest Corporate Promotional Video

ROMCO Group Q4 2021 Trading Update

Stellar year of growth sees 18,000 metric tonnes recycled during 2021, revenue reaching US$29.4 million and over 35,000 metric tonnes of CO2 emissions saved.

Romco, an international metals recycler producing clean and sustainable essential metals that decarbonise the global supply chain, today announces record financial and operational results for 2021.

A strong fourth quarter performance for the Company closes out a record year, with a 330% increase in year-on-year revenue. Production levels increased by 194% following upgrades to Romco’s facilities, which now consist of 7 furnaces including a new facility in Ghana and two copper furnaces.

The Group’s track record for delivering rapid, profitable growth was recently reinforced by a $6.2m Series A equity round based on the valuation of $180m. The capital raise forms part of an on-going fundraising strategy that is supercharging expansion and revenue growth.

Romco Group CEO, Raymond Onovwigun, commented: “2021 was a record year for Romco and we are looking at numerous funding options to feed our proven operating model. With global supply declining and demand increasing, there is an urgent need to ramp up the recycling of existing metals in the supply chain.  Demand for aluminium is expected to grow by 80% by 2050. The threat of devastating carbon emissions generated by primary production of aluminium must be mitigated. We have made it our mission at Romco to transform the production of metals to address tightening supply and help solve the climate crisis.  

We took important steps during 2021 to advance operations and to do so sustainably by switching to compressed natural gas for all our furnaces in Nigeria. We have also built new trade hubs across Sub-Sahara Africa, and we have strengthened feedstock lines by growing our Small Business Buying Program by 300%. This enables local communities to participate in our growth as we look to meet the demands of major global OEMs whose supply chains are under increasing pressure.”

2021 Key Highlights:

• Combined metals inputs of 17,937 mt* (up 248% YoY)

• Revenue of $29.4 million (up 330% YoY)

• Increased output of sustainable materials by 194% YoY

• Production of Tense (Mixed Aluminium Castings) of 14194mt* (up 455% YoY)

• Production of Tense / High Zn of 625mt* (up 950% YoY)

• Total Energy Output savings of 123,441mWh, versus 130,252mWh for primary produced equivalent

• Total CO2 Emissions Savings of 35,558mtCO2 over primary production

• Opened a new facility in Ghana and upgraded to a total of 7 furnaces across the Group (including two for copper), installed CNG to further reduce carbon emissions of our operations, built new trade hubs and strengthened our feedstock supply network by 300%

• £4.1 million deployed by Romco’s Small Business Buying Program, a loan vehicle for local trade merchants, sole traders, and scrap suppliers to grow their recycling business by employing hundreds of workers alongside Romco to meet the global decarbonisation challenge.

*Metric tonne

Read the full report here

ROMCO Group Head of Trading, Keith Wildie on Bloomberg Discussing LME Issues

Romco Group Head of Trading, Keith Wildie, featured on BNN Bloomberg today, discussing the current nickel crisis with Andrew Bell. Watch the Interview here.

BNN Bloomberg stated: “It’s the second day of nickel trading on the London Metal Exchange after a week-long suspension, but the platform is once again facing issues with the base metal. Keith Wildie, head of trading at Romco Group, he says the LME’s credibility is coming into question here as traders don’t really know what the price of nickel is right now, and it’s causing more volatility in the global market. He says the trading failure is an existential crisis for the LME.”