Alexander Mining PLC Commercial Introduction Agreement in Zambia (1956O)

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: [phone] 
  341 
 Matt Sutcliffe 
  Executive Chairman 
  Mobile: [phone] 
  758 
  Alexander Mining plc 
   Tel: [phone] 
   Email: [e-mail] 
   Website: www.alexandermining.com 
 
 Northland Capital Partners 
  Limited 
  Matthew Johnson / Gerry 
  Beaney 
  [phone] 
  (Corporate Finance) 
  John Howes 
  (Corporate Broking) 
  Turner Pope Investments 
  (TPI) Ltd 
  James Pope / Ben Turner 
  [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 16, 2017 10:33 ET (14:33 GMT)