TIDMAXM

RNS Number : 3487X

Alexander Mining PLC

20 February 2017

20 February 2017

Alexander Mining plc

("Alexander" or the "Company")

Progress on Licence Agreement with Accudo Metals Pty. Ltd.

Alexander is pleased to report the following statement received from Accudo Metals Pty. Ltd. ("Accudo") on its leaching technologies licence agreement in Australia.

Accudo advises that it has completed the Scoping Study on the first Australian copper project to be trialled with AmmLeach(R) technology licensed from Alexander.

Dr Saliba Sassine, a director of Accudo, said: "The results of the Scoping Study were assessed by the company as being positive and encouraging. We are now evaluating the study in detail with a view to making a decision on the next stage of work, which would logically be starting work on a Feasibility Study. Accudo will now negotiate with the owners of the copper assets on a variety of matters, including the proposed Feasibility Study and commercial terms beyond. We will advise Alexander Mining of the outcomes as and when they complete."

Martin Rosser, Chief Executive Officer, said: "We are pleased with the positive technical work progress to date and look forward to Accudo advancing this first copper project opportunity."

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

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