TIDMAXM

RNS Number : 8526M

Alexander Mining PLC

18 October 2016

18 October 2016

Alexander Mining plc

("Alexander" or the "Company")

Progress Report on Licence Agreement with Accudo Metals Pty. Ltd.

Alexander is pleased to announce a progress report on its leaching technologies licence agreement in Australia with Accudo Metals Pty. Ltd. ("Accudo") announced on 25 August 2016.

Accudo has advised Alexander that the initial laboratory hydrometallurgical test work on the AmmLeach(R) ammonia leaching technology has been completed. The work tested oxide and transitional ore from an Australian copper mine. Whilst the results are still being reviewed in detail, Accudo reports that the AmmLeach(R) technology successfully leached copper from the ore at good recovery rates. Accudo is reviewing the proposed work programme for a scoping study before proceeding to this stage and expects to make a decision on this in the near future.

Dr Saliba Sassine of Accudo said: "We are encouraged by the results which were consistent with the AmmLeach(R) claims and are looking forward to the next stage of testing that will include the broad economic parameters of the technology."

Martin Rosser, Chief Executive Officer, said: "We are pleased with the technical test work progress to date and the working relationship established with Accudo."

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 / Abigail Wayne 
  (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

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