Alexander Mining PLC Accudo Agreement Update (1660Z)
August 29 2018 - 8:43AM
UK Regulatory
TIDMAXM
RNS Number : 1660Z
Alexander Mining PLC
29 August 2018
29 August 2018
Alexander Mining plc
("Alexander" or "the Company")
Accudo Agreement Update
The Company has received an update from Accudo Metals Pty Ltd.
("Accudo") regarding its agreement with the owners of the copper
tenements and assets in Australia (the "Project"). The Project is
being assessed as the first project in accordance with the
technology licence agreement (the "Agreement") with Alexander for
the potential use of the Company's AmmLeach(R) technology.
Accudo's Chairman, Dr. Saliba Sassine, has advised Alexander
that: "Its concerted efforts on the Project financing have stalled
despite having obtained conditional debt terms for 60 per cent. of
the acquisition and working capital value of the desired
transaction. The main impediment in completing financing
arrangements has been the prevailing weakness in the base metals
and mining sectors, rather than principally due to new and
innovative technology aspects".
Alexander's CEO, Martin Rosser, said that: "Naturally we are
disappointed with this news but will continue to work closely with
Accudo on supporting its initiatives wherever possible and, of
course, in its efforts regarding any other opportunities which it
may look to progress under the Agreement".
ENDS
Enquiries
Martin Rosser
Chief Executive
Mobile: +44 (0) 7770 865 341
Alexander Mining plc
Tel: +44 (0) 20 7078 9566
Email: mail@alexandermining.com
Website: www.alexandermining.com
Northland Capital Partners Limited
Matthew Johnson / Dugald J Carlean
(Corporate Finance)
Isabella Pierre (Corporate Broking)
Tel: +44 (0) 20 3861 6625
Turner Pope Investments (TPI) Ltd
Andy Thacker
Tel: +44 (0) 20 3621 4120
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END
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