Kropz PLC Elandsfontein Update (6099N)

TIDMKRPZ

RNS Number : 6099N

Kropz PLC

02 February 2021

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

2 February 2021

Kropz Plc

("Kropz" or the "Company")

Elandsfontein Update

Kropz Plc (AIM: KRPZ), an emerging African phosphate explorer and developer, is pleased to announce an update for its Elandsfontein phosphate project ("Elandsfontein") located in South Africa.

Significant progress continues to be made at Elandsfontein and the project remains on track for achieving the target date for production in Q4 2021, within the project capital budget. Images of the progress at site are available online here: www.kropz.com/projects/elandsfontein/gallery-elandsfontein .

These achievements have been realised against the backdrop of the unprecedented COVID-19 pandemic. As widely known, South Africa is currently facing a damaging second wave of COVID-19.

The present focus is primarily on the site-based construction activities, which are permitted to continue under the current Level III restrictions. Earthworks are largely complete, and civil construction is advancing. Fabrication of structural steel, platework and piping has commenced, and the first major mechanical equipment has been delivered to site.

The Company's priority remains the health and well-being of its staff and contractors. Kropz Elandsfontein Pty (Ltd) has adopted appropriate measures, in accordance with local and international guidelines, to protect them from COVID-19. The pandemic could, however, still adversely affect the schedule for Elandsfontein.

The Company will provide further updates on project progress in early Q2 2021.

For further information visit www.kropz.com or contact:

 
 Kropz Plc 
 Mark Summers (CEO)              [phone] 
 
 Grant Thornton UK LLP           Nominated Adviser 
 Samantha Harrison 
  Harrison Clarke 
  George Grainger                [phone] 
 
 Hannam & Partners               Broker 
 Andrew Chubb 
  Ernest Bell                     [phone] 
 
 Tavistock                       Financial PR & IR (UK) 
 Emily Moss                      [phone] 
  Jos Simson                      [e-mail] 
  Oliver Lamb 
 
 R&A Strategic Communications    PR (South Africa) 
 James Duncan                    [phone] 
                                  [e-mail] 
 

About Kropz Plc

Kropz is an emerging African phosphate explorer and developer, with an advanced stage phosphate mining project in South Africa and a phosphate project in the Republic of Congo. The vision of the Group is to become a leading independent phosphate rock producer and to develop into an integrated, mine-to-market plant nutrient company focusing on sub-Saharan Africa.

-ENDS-

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February 02, 2021 02:00 ET (07:00 GMT)