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AXM Alexander Mining Plc

0.0275
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Alexander Mining Plc LSE:AXM London Ordinary Share GB00B06K1665 ORD 0.001P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0275 0.025 0.03 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Alexander Mining PLC Accudo Commits to Copper Project DFS (7893I)

21/06/2017 2:55pm

UK Regulatory


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TIDMAXM

RNS Number : 7893I

Alexander Mining PLC

21 June 2017

21 June 2017

Alexander Mining plc

("Alexander" or the "Company")

Accudo Commits to a Copper Project Definitive Feasibility Study

Alexander is pleased to report that Accudo Metals Pty Ltd ("Accudo") has advised the Company that it has signed a deed of heads of terms with the owners of the copper tenements and assets in Australia being assessed for the potential use of Alexander's AmmLeach(R) technology.

The Chairman of Accudo, Dr Saliba Sassine, said that "with the signing of the heads of terms, Accudo will now proceed to conduct a definitive feasibility study ("DFS") with a view to producing a bankable feasibility study if the DFS is positive."

"This is an exciting step for Accudo and Alexander Mining and we look forward to completing the work and assessing the results."

"Accudo is in the process of finalising and appointing members of the feasibility study team which will include hydrometallurgical and engineering, geology and mining, environmental, legal and corporate and financial advisors."

"It is expected that the study will take approximately six months to complete, at the end of which a decision will be made by Accudo on whether to acquire the assets."

Martin Rosser, Chief Executive Officer, said: "The news of Accudo's commitment to proceed with a DFS on the potential use of our leaching technology under the existing licence agreement between us is highly significant. We look forward to working together closely on this first copper project opportunity in Australia."

Background on Accudo

Accudo is a special purpose vehicle established to hold granted licences for the MetaLeach technologies and to test the Leaching Technologies on target ore bodies with a view to taking these into commercial production. The company will pursue these projects in a systematic manner and subject them to detailed testing and definitive feasibility studies ahead of commercial production. The privately-held company is funded by sophisticated investors and clients of BlueMount Capital, a national mid-tier Australian investment bank. BlueMount Capital specialises in corporate finance, including IPO, M&A, MBO and cross border transactions (www.bluemountcapital.com).

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: +44 (0) 7770 865 
  341 
 Matt Sutcliffe 
  Executive Chairman 
  Mobile: +44 (0) 7887 930 
  758 
  Alexander Mining plc 
   Tel: +44 (0) 20 7078 9566 
   Email: mail@alexandermining.com 
   Website: www.alexandermining.com 
 
 Northland Capital Partners 
  Limited 
  Matthew Johnson / Gerry 
  Beaney 
  +44 (0) 20 3861 6625 
  (Corporate Finance) 
  John Howes 
  (Corporate Broking) 
  Turner Pope Investments 
  (TPI) Ltd 
  James Pope / Ben Turner 
  +44 (0) 20 3621 4120 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBXGDLBUDBGRB

(END) Dow Jones Newswires

June 21, 2017 09:55 ET (13:55 GMT)

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