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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Emmerson Plc | LSE:EML | London | Ordinary Share | IM00BDHDTX83 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.55 | 2.40 | 2.70 | 2.55 | 2.55 | 2.55 | 672,437 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 0 | -3.2M | -0.0031 | -8.23 | 26.18M |
TIDMEML
RNS Number : 1901R
Emmerson PLC
13 June 2018
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
13 June 2018
Emmerson Plc
("Emmerson" or the "Company")
Appointment of Scoping Study Consultant for the Khemisset Potash Project, Morocco
Emmerson Plc, the Moroccan focused potash development company, is pleased to announce it has appointed globally-recognised mining engineering firm, Golder Associates ("Golder"), to oversee the delivery of a Scoping Study on the Company's 100% owned Khemisset Potash Project in Northern Morocco ("Khemisset" or "the Project").
Highlights
-- Golder appointed to deliver a Scoping Study on Khemisset by end Q1 2019
-- Scoping Study and associated work programme is fully funded following Emmerson's re-admission fundraise of GBP6 million on 4 June 2018
-- Specialist sub-contractors for key workstreams, including processing, will be appointed by or alongside Golder in due course
-- Significant exploration upside at Khemisset providing the potential to increase the potash JORC compliant Inferred Resource of 311 million tonnes at 10.2% K(2) 0
Hayden Locke, CEO of Emmerson, commented:
"We have hit the ground running since our re-listing on the London Stock Exchange last week and are excited to be working with a firm with the credibility and expertise of Golder Associates to deliver the Khemisset Scoping Study, and we believe they will add considerable value to the process.
"With the wheels in motion and the funds in place to deliver following our GBP6 million raise, we are working to confirm, from a high level, the compelling technical and economic potential of the Khemisset project by early 2019. The next step towards achieving this will be the appointment of an engineering firm with specialist expertise in the processing of potash minerals to work alongside Golder Associates. We will also be appointing additional contractors to commence a drilling programme in the near-term, with a view to delivering on the twin objective of a) unlocking the upside potential of the already significant JORC compliant Inferred resource of 311 million tonnes and b) upgrading portions of the resource to the "Indicated" category.
"We continue to be excited by the potential for Khemisset to be a low-capex, high margin potash project, and look forward to demonstrating this to the market."
**ENDS**
For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact: Emmerson Plc Tel: +44 (0) 207 236 Hayden Locke 1177 Edward McDermott James Biddle Beaumont Cornish Limited Tel: +44 (0) 207 628 Roland Cornish Financial Adviser 3396 Jeremy King Optiva Securities Limited Tel: +44 (0) 3137 1904 Broker Lottie Wadham St Brides Partners Ltd Tel: +44 (0) 20 7236 Susie Geliher Financial PR/IR 1177
Notes to Editors
Emmerson's primary focus is on developing the Khemisset Potash Project located in Northern Morocco. The project has a large JORC Resource Estimate (2012) of 311.4Mt @ 10.2% K(2) O and significant exploration potential with an accelerated development pathway targeting a low capex, high margin mine. Khemisset is perfectly located to capitalise on the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. This unique positioning means the project will receive a premium netback price compared to existing potash producers. The need to feed the world's rapidly increasing population is driving demand for potash and Emmerson is well placed to benefit from the opportunities this presents.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
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.
END
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June 13, 2018 02:00 ET (06:00 GMT)
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