Alexander Mining PLC Commercial Introduction Agreement in Zambia (1956O)
August 16 2017 - 10:33AM
UK Regulatory
TIDMAXM
RNS Number : 1956O
Alexander Mining PLC
16 August 2017
16 August 2017
Alexander Mining plc
("Alexander" or the "Company")
Commercial Introduction Agreement in Zambia
Alexander Mining plc is pleased to report that it has signed an
introducer's agreement ("Agreement") with Duard Capital Ltd.
("Duard") for the potential introduction of commercial
opportunities for its leaching technologies in Zambia. The
Agreement has an initial term of one year, with a rolling mutually
agreeable three-monthly extension thereafter.
Martin Rosser, Chief Executive Officer, said: "For some time we
have been interested in Zambia, with its world renowned Copperbelt
geology and as a noted mining jurisdiction with significant copper
production growth potential. It is highly prospective for the use
of Alexander's technology for the recovery of copper and cobalt and
we greatly look forward to working with Duard to that end."
Under the Agreement, if Duard introduces an opportunity which
leads to Alexander executing a commercial technology licencing
agreement and it receiving licensing revenue, then it will pay
Duard a commission fee from the licensing revenue for the first
three years of licence commercial use.
Background on Duard
Duard's shareholders represent a partnership between Kelvin
Chiti, a Zambian entrepreneur and Jan King, a South African mining
industry veteran and entrepreneur with over 40 years' experience.
Duard's objective is to assist small scale mining licence holders
("SML" - licence area of up to 4Km(2)) in Zambia to develop their
tenements by analysing the available information and finding the
best method to increase the mining economic worth. This will focus
on either mining "low bearing fruit" like high grade outcrops
and/or mapping the geological structure to lay the foundations for
a code compliant geological report.
Jan King, said that: "The AmmLeach(R) technology is exciting
because it is an environmentally friendly, cost effective method of
leaching copper and cobalt to produce, using conventional
equipment, a high value added product at the mine site.
"In addition, where several small scale miners are active or
potentially active then an attractive opportunity may be considered
for establishing a central toll treatment facility that could
beneficiate both minerals up to LME grade cathodes.
Mines with substantial size ore bodies could be upgraded to
large scale mines with a dedicated AmmLeach(R) processing plant to
produce copper and/or cobalt cathode."
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
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