TIDMCAPD
RNS Number : 9281R
Capital Limited
06 March 2023
FOR IMMEDIATE RELEASE
06 MARCH 2023
MSALABS Limited & Capital Limited
("MSALABS" & "Capital")
MSALABS Trading Update
MSALABS, a global provider of geochemical laboratory services
for the exploration and mining sectors and a majority-owned
subsidiary of Capital, is pleased to announce positive operational
developments. The MSALABS team are this week at the PDAC convention
in Toronto, Canada, promoting their services.
The first few months of 2023 have seen MSALABS maintain its
significant growth momentum from 2022, with the delivery of a
strong operational performance from existing contracts, as well as
the successful commissioning of a number of new laboratories.
-- Prince George Chrysos Corporation ("Chrysos") PhotonAssay(TM)
unit: At Prince George we are deploying Western Canada's first
PhotonAssay(TM) unit in a commercial laboratory. This unit is now
commissioned and will begin processing samples from a broad range
of customers in the region;
-- Kibali Chrysos PhotonAssay(TM) unit commissioned: In January
MSALABS successfully commissioned the PhotonAssay(TM) unit at
Barrick's Kibali mine, DRC, the largest gold mine on the Africa
continent.
Traditional business also continued to grow its footprint with
the commissioning of mine site and regional laboratories:
-- Singida mine site laboratory commissioned: MSALABS has now
commissioned a mine site laboratory at Shanta Gold's Singida mine
in Tanzania having been awarded a 3-year contract late last
year;
-- Bougouni laboratory commissioned: MSALABS has commissioned
the laboratory in Bougouni, Mali which will support gold and
lithium operations in southern Mali. First samples from Leo
Lithium's Goulamina operation are expected within days;
-- Kazakhstan franchise partnership with Aurora Minerals Group
(Aurora): At PDAC MSALABS and Aurora will sign an agreement to
provide geochemistry services to the burgeoning Kazakhstan mining
industry.
Capital will be announcing its FY22 results on 16 March along
with MSALABS revenue updates and guidance for 2023, which will
include a conference call and question and answer session.
Commenting on the trading update, Stuart Thomson, MSALABS CEO
said
'MSALABS has got off to a very strong start in 2023, testament
to the strong demand we are seeing for our services but also the
continued hard work of our employees to deliver such impressive
growth. Announcing, new labs across all three of our major regions,
further diversification of commodity mix and entry into a new
country is indicative of the increasing strength and robustness of
MSALABS.
In particular, the demand for Chrysos PhotonAssay(TM) is
undeniable with a multitude of major mining companies continuing to
run trials and converting to the revolutionary technology. In
partnership with Chrysos, we are proud to be bringing this
technology to Western Canada with our new commercial laboratory at
Prince George where we can service the significant mining
region.
We look forward to many strong years ahead of us as we further
grow and develop our global footprint, including the deployment of
21 Chrysos PhotonAssay(TM) units by 2025."
- ENDS -
For further information, please visit Capital Limited's website
www.capdrill.com or contact:
Capital Limited +230 464 3250
Jamie Boyton, Executive Chairman investor@capdrill.com
Peter Stokes, Chief Executive Officer
Rick Robson, Chief Financial Officer
Conor Rowley, Investor Relations & Corporate Development
Manager
Tamesis Partners LLP +44 20 3882 2868
Charlie Bendon
Richard Greenfield
Stifel Nicolaus Europe Limited +44 20 7710 7600
Ashton Clanfield
Callum Stewart
Rory Blundell
Buchanan +44 20 7466 5000
Bobby Morse capital@buchanan.uk.com
George Cleary
About Capital Limited
Capital Limited is a leading mining services company providing a
complete range of drilling, mining, maintenance and geochemical
laboratory solutions to customers within the global minerals
industry, focusing on the African markets. The Company's services
include: exploration, delineation and production drilling; load and
haul services; maintenance; and geochemical analysis. The Group's
corporate headquarters are in Mauritius and it has established
operations in Canada, Côte d'Ivoire, Egypt, Guinea, Kenya, Mali,
Mauritania, Nigeria, Saudi Arabia, Sudan and Tanzania.
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