Share Name Share Symbol Market Type Share ISIN Share Description
Kennedy Venture LSE:KENV London Ordinary Share GB00B830HW33 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -10.67% 8.375p 8.25p 8.50p 9.375p 8.375p 9.375p 1,272,299 16:14:54
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 0.0 -0.8 -0.6 - 15.83

Kennedy Ventures PLC Multiyear Supply Agreement

17/07/2017 7:00am

UK Regulatory (RNS & others)


Kennedy Venture (LSE:KENV)
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RNS Number : 1861L

Kennedy Ventures PLC

17 July 2017

17 July 2017

Kennedy Ventures plc

Multiyear Supply Agreement

Kennedy Ventures plc ("Kennedy Ventures" or "the Company"), the AIM quoted investment company who, through its stake in African Tantalum (Pty) Limited ("Aftan"), has an interest in the Tantalite Valley Mine in Namibia ("TVM"), is pleased to confirm that Aftan has signed a multiyear supply agreement with a global North American leading tantalum consumer and end user of our tantalum ore ("the Customer") as of 14 July 2017.

During H1 CY17, Aftan with the consultation of Kennedy CEO Larry Johnson, has been implementing important upgrades, testing and adjustments to the plant, slowing down the production schedule to establish the optimal grade of concentrate from the plant. This has taken place in conjunction and discussion with the Customer with the objective of meeting their world class specifications. Aftan has booked sales to the Customer of 1 tonne and will be shipping 3 tonnes imminently. Aftan continues to work closely with the Customer and will do so through CY17 in a continued ramp up of deliverable tantalum ore. The Customer's demand for Aftan's product continues to exceed current production. Accordingly, the Company intends to make additional required amendments to the plant which will provide critical upgrades and will put Aftan into a much stronger position and enable it to meet the Customer's demand.

Larry Johnson, CEO of Kennedy Ventures commented:

"We are very pleased to have secured a global leading tantalum consumer as a long-term partner and look forward to working closely with them as we continue to optimise the plant and deliver into the Customer's demand which continues to exceed current state production. Plant productivity is expected to increase periodically and sales also throughout CY17 and CY18."

 
 Kennedy Ventures plc 
 Larry Johnson (CEO), c/o              Tel: +44 (0)203 757 
  Camarco                               4983 
 finnCap (Nominated Adviser            Tel: 44 (0)20 7220 
  and broker)                           0500 
  Christopher Raggett / Scott 
  Mathieson / Anthony Adams 
  (corporate finance) 
  Simon Johnson (corporate 
  broking) 
 Shore Capital (Broker)                Tel: +44 (0) 207 
  Mark Percy / Toby Gibbs (corporate    408 4090 
  finance) 
  Jerry Keen (corporate broking) 
 Camarco (PR)                          Tel: +44 (0) 203 
  Gordon Poole                          757 4980 
  Billy Clegg 
  James Crothers 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

July 17, 2017 02:00 ET (06:00 GMT)

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