Tertiary Minerals PLC Acquisition Opportunities (9532T)
January 12 2017 - 2:00AM
UK Regulatory
TIDMTYM
RNS Number : 9532T
Tertiary Minerals PLC
12 January 2017
12 January 2017
Tertiary Minerals plc ("Tertiary" or "the Company")
Acquisition Opportunities
Tertiary Minerals plc, the AIM traded company building a
strategic position in the fluorspar sector, is pleased to provide
an update on its current business strategy.
The Company has made considerable progress in recent years
developing its 100% owned fluorspar projects, progressing through
the development cycle from discovery towards commercial production.
A number of key issues have however resulted in delays to the
development of our most advanced project, Storuman in Sweden, which
are highlighted below:
-- Poor stock market conditions for junior exploration/development companies
-- Continued poor global market conditions for fluorspar
-- Recent new case law established in Sweden changing the way
Mine Permits are granted (Refer to previous RNS dated 13 & 15
December 2016)
Whilst the Company remains on track with its fluorspar strategy
and the development of its fluorspar assets, it recognises the
benefit of finding projects capable of generating revenue and
profits in a shorter timescale than is achievable with the current
portfolio of projects. With this in mind the Company is currently
evaluating a number of complementary projects for acquisition with
near term sustained revenue and profit potential.
Further news will be announced on the progress of evaluation as
and when it becomes available.
Commenting today, Managing Director, Richard Clemmey said: "We
are pleased to have started the evaluation process on a number of
acquisition opportunities with the potential to transform the
Company into being one with sustainable revenues in the near term
and which will complement our fluorspar assets currently in
development."
Enquiries
Tertiary Minerals plc
Richard Clemmey, Managing
Director
Patrick Cheetham, Executive
Chairman +44 (0) 1625 838 679
SP Angel Corporate Finance
LLP
Nominated Adviser & Joint
Broker
Ewan Leggat/Lindsay Mair/Laura
Harrison +44 (0) 20 3470 0470
Beaufort Securities Ltd
Joint Broker
Elliot Hance +44 (0)20 7382 8300
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement
Notes to Editors
Tertiary Minerals plc (ticker symbol 'TYM') is an AIM-traded
mineral exploration and development company building a significant
strategic position in the fluorspar sector. Fluorspar is an
essential raw material in the chemical, steel and aluminium
industries. Tertiary controls two significant Scandinavian projects
(Storuman in Sweden and Lassedalen in Norway) and a large deposit
of strategic significance in Nevada, USA (MB Project).
CAUTIONARY NOTICE
The news release may contain certain statements and expressions
of belief, expectation or opinion which are forward looking
statements, and which relate, inter alia, to the Company's proposed
strategy, plans and objectives or to the expectations or intentions
of the Company's directors. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors
beyond the control of the Company that could cause the actual
performance or achievements of the Company to be materially
different from such forward-looking statements. Accordingly, you
should not rely on any forward-looking statements and save as
required by the AIM Rules for Companies or by law, the Company does
not accept any obligation to disseminate any updates or revisions
to such forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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