Alexander Mining PLC Accudo Commits to Copper Project DFS (7893I)
June 21 2017 - 09:55AM
UK Regulatory
TIDMAXM
RNS Number : 7893I
Alexander Mining PLC
21 June 2017
21 June 2017
Alexander Mining plc
("Alexander" or the "Company")
Accudo Commits to a Copper Project Definitive Feasibility
Study
Alexander is pleased to report that Accudo Metals Pty Ltd
("Accudo") has advised the Company that it has signed a deed of
heads of terms with the owners of the copper tenements and assets
in Australia being assessed for the potential use of Alexander's
AmmLeach(R) technology.
The Chairman of Accudo, Dr Saliba Sassine, said that "with the
signing of the heads of terms, Accudo will now proceed to conduct a
definitive feasibility study ("DFS") with a view to producing a
bankable feasibility study if the DFS is positive."
"This is an exciting step for Accudo and Alexander Mining and we
look forward to completing the work and assessing the results."
"Accudo is in the process of finalising and appointing members
of the feasibility study team which will include hydrometallurgical
and engineering, geology and mining, environmental, legal and
corporate and financial advisors."
"It is expected that the study will take approximately six
months to complete, at the end of which a decision will be made by
Accudo on whether to acquire the assets."
Martin Rosser, Chief Executive Officer, said: "The news of
Accudo's commitment to proceed with a DFS on the potential use of
our leaching technology under the existing licence agreement
between us is highly significant. We look forward to working
together closely on this first copper project opportunity in
Australia."
Background on Accudo
Accudo is a special purpose vehicle established to hold granted
licences for the MetaLeach technologies and to test the Leaching
Technologies on target ore bodies with a view to taking these into
commercial production. The company will pursue these projects in a
systematic manner and subject them to detailed testing and
definitive feasibility studies ahead of commercial production. The
privately-held company is funded by sophisticated investors and
clients of BlueMount Capital, a national mid-tier Australian
investment bank. BlueMount Capital specialises in corporate
finance, including IPO, M&A, MBO and cross border transactions
(www.bluemountcapital.com).
This announcement is inside information for the purposes of
Article 7 of EU Regulation 596/2014.
ENDS
For further information, please contact:
Martin Rosser
Chief Executive
Mobile: +44 (0) 7770 865
341
Matt Sutcliffe
Executive Chairman
Mobile: +44 (0) 7887 930
758
Alexander Mining plc
Tel: +44 (0) 20 7078 9566
Email: mail@alexandermining.com
Website: www.alexandermining.com
Northland Capital Partners
Limited
Matthew Johnson / Gerry
Beaney
+44 (0) 20 3861 6625
(Corporate Finance)
John Howes
(Corporate Broking)
Turner Pope Investments
(TPI) Ltd
James Pope / Ben Turner
+44 (0) 20 3621 4120
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBXGDLBUDBGRB
(END) Dow Jones Newswires
June 21, 2017 09:55 ET (13:55 GMT)
Eenergy (LSE:EAAS)
Historical Stock Chart
From Feb 2024 to Mar 2024
Eenergy (LSE:EAAS)
Historical Stock Chart
From Mar 2023 to Mar 2024