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| 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 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMAXM
RNS Number : 7090C
Alexander Mining PLC
02 October 2018
2 October 2018
Alexander Mining plc
("Alexander" or the "Company")
Major Progress by Proses for Establishing a Zinc Processing Plant in Turkey
-- Suitable site for zinc plant agreed with owners
-- Treatment flexibility for material sourced at site and from miners in the historic Kayseri zinc district
-- Working on the plant engineering design, ore reserve delineation and completing an environmental impact assessment study
Alexander is pleased to announce that further to the announcement on 21 February 2018 regarding a commercial and technical partnership agreement ("Agreement") with Proses Mühendislik, Danı manlık, İn aat ve Tasarım AS. ("Proses"), major progress has been made by Proses for establishing a zinc plant in Turkey.
Under the Agreement, Proses has been investigating and progressing plans in Turkey for the establishment of a semi industrial scale processing plant ("SISP") using Alexander's patented AmmLeach(R) technology for processing lower grade oxide zinc ores. Proses has now entered into a formal royalty agreement with Osmanlı Madencilik Ltd ("Osmanlı") of Turkey. Osmanlı will receive a percentage of product from the SISP and from ore produced by Proses at the Osmanlı Mining Licence Area as a royalty.
Under this agreement with Osmanlı and subject to environmental impact studies, permitting and Proses securing the necessary funding, the plan is to extract zinc oxide ore from the licence area and to process the ore in a SISP facility to be established on site. Proses will also proactively seek to receive or purchase zinc oxide ores from other miners in the region for treatment at this plant.
Martin Rosser, CEO, said: "We are delighted with the excellent news and swift progress made by our partners Proses and greatly appreciate their hard work and efforts to reach this exciting milestone. We very much look forward to working together on the next stages."
Alexander would receive a gross sales revenue royalty on the value of the SISP product produced using its technology. Subject to the results of the SISP, Alexander would negotiate with the project owners a technology licence agreement ("TLA"). The TLA would be on Alexander's standard commercial terms and should include a gross sales revenue royalty on all commercial scale metal or high value-added processing plant product.
The Osmanlı mining licence covers an area of nearly 1,000 hectares and is conveniently located in Yahyalı township, in Kayseri Province, Central Anatolia, some 60km south of the major city of Kayseri. The district is notably rich in zinc (and lead) mineralisation and there is current as well as significant historic mining activity. The SISP facility is expected to treat about 100,000 tonnes per annum of oxide zinc ores with a grade of around 5 per cent. zinc, with a final product of electrolytic zinc metal.
Up until now, lower grade oxide ores with less than 10 per cent. zinc content have been uneconomic to treat but using AmmLeach(R), it should be possible to economically treat ores with a zinc grade as low as 5 per cent.
Proses has now commenced work on the engineering design for the SISP facility, ore reserve delineation at the licence area, completing an environmental impact assessment study and obtaining the necessary environmental and legal permits. The expected time for this to be completed before SISP construction could start is approximately twelve months.
For further information, please contact:
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
October 02, 2018 06:38 ET (10:38 GMT)
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