Adriatic Metals PLC PRODUCTION UNAFFECTED BY REGIONAL STORM

RNS Number : 4037H

Adriatic Metals PLC

08 October 2024

 

8 October 2024

 

 

Adriatic Metals PLC

("Adriatic Metals" or the "Company")

 

PRODUCTION UNAFFECTED BY REGIONAL STORM

 

Adriatic Metals PLC ("Adriatic" or the "Company") would like to recognize the devastating impact of the recent storms and subsequent flooding on the central and southern regions of Bosnia and Herzegovina and offer our heartfelt sympathies to all those affected by this tragedy.

 

The severe storms, that occurred on 3 October, resulted in short-term water management issues at Rupice mine and the Vares Processing Plant but these were effectively managed, with production continuing as planned.

 

However, the railway line that connects Sarajevo to Ploce Port in Croatia has been damaged in the Jablanica region near Mostar - approx. 70km south of Sarajevo. Certain sections of the railway line have been flooded and covered with debris due to landslides. Due to this damage, concentrate product will instead be trucked to Ploce Port until the railway track is fully repaired and operating safely. The Company previously trucked concentrate to Ploce Port in Q2 and Q3 this year so Adriatic expects no impact on ongoing operations and is confident in utilising road logistics as a temporary solution. Adriatic and other key exporters are working closely with the Federation of Bosnia and Herzegovina Railway to fast track and optimise the repair of the damaged line.

 

Additionally, the Adriatic team is working closely with the local civil protection authorities and the Red Cross to assist with affected local infrastructure in Vares including removing road obstructions that were impacting the community and rebuilding community buildings. Adriatic will be respecting the Day of Mourning on Tuesday 8 October, that has been declared in the entire territory of Bosnia and Herzegovina in remembrance of those who lost their lives in the recent floods and landslides.

 

 

-ends

 

Authorised by Laura Tyler, Interim CEO of Adriatic Metals

For further information please visit: www.adriaticmetals.com; email: [e-mail], @AdriaticMetals on Twitter; or contact:

 

Adriatic Metals PLC
Klara Kaczmarek GM - Corporate Development	Tel: [phone] [e-mail]
Burson Buchanan	Tel: [phone]
Bobby Morse / Christopher Jones	[e-mail]
Morgans Corporate Limited
Rob Douglas / Sam Warriner / Mitch Duffy	Tel: [phone]
RBC Capital Markets
Farid Dadashev / James Agnew / Jamil Miah	Tel: [phone]
Stifel Nicolaus Europe Limited
Ashton Clanfield / Callum Stewart / Varun Talwar	Tel: [phone]
Morrow Sodali
Cameron Gilenko	Tel: [phone]

 

 

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia. First concentrate production took place in February 2024 and the Vares Silver Operation is fully funded to nameplate production, which is expected in Q4 2024. Concurrent with ongoing operational activities, the Company continues to explore across its highly prospective 44km² concession package.

 

MARKET ABUSE REGULATION DISCLOSURE

The information contained within this announcement is deemed by the Company (LEI: 549300OHAH2GL1DP0L61) to constitute inside ‎information for the purpose of Article 7 of EU Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) ACT 2018, as amended. The person ‎responsible for arranging and authorising the release of this announcement on behalf of the Company is Laura Tyler, Interim CEO.

 

 

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