21 September 2023
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
Award of Performance Rights
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) announces that on 19 September 2023, it granted a total of 919,591 performance rights ("PR") vesting on 24 May 2026 to staff under the Company's Employment Incentive Plans. Each PR gives the holder the right to one new ordinary share of £0.013355 in the capital of the Company, subject to satisfying performance-related vesting conditions.
Market Abuse Regulation Disclosure
The information contained within this announcement is deemed by the Company (LEI: 549300OHAH2GL1DP0L61) to constitute inside information for the purposes of Article 7 of the 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 ("UK Market Abuse Regulation").
The person responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.
**ends**
For further information please visit www.adriaticmetals.com; email: info@adriaticmetals.com, @AdriaticMetals on Twitter; or contact:
| Adriatic Metals PLC | |
| Paul Cronin / Klara Kaczmarek | Via Buchanan |
| | |
| Buchanan | Tel: +44 (0) 20 7466 5000 |
| Bobby Morse/ Oonagh Reidy | |
| Morgans Corporate Limited Rob Douglas / Sam Warriner / Mitch Duffy |
|
| RBC Capital Markets |
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| James Agnew / Jamil Miah | Tel: +44 (0) 20 7653 4000 |
| | |
| Stifel Nicolaus Europe Limited | |
| Ashton Clanfield / Callum Stewart / Varun Talwar | Tel: +44 (0) 20 7710 7600 |
| | |
| Citadel Magnus | |
| Cameron Gilenko | Tel: +61 2 8234 0100 |
| | |
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 Project in Bosnia & Herzegovina, as well as the Raska Project in Serbia.
The Vares Project is fully-funded to production, which is expected in Q4 2023. The 2021 Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 44km2 concession package.
The Mineral Resource estimate for the Rupice underground deposit comprising part of the Vares Silver Project was updated in accordance with ASX Listing Rule 5.8 on 27 July 2023. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcement and that all material assumptions and technical parameters underpinning the estimate in the previous announcement continue to apply and have not materially changed.
The Ore Reserve estimate for the Rupice deposit comprising part of the Vares Silver Project was announced in accordance with ASX Listing Rule 5.9 on 19 August 2021. The Company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcement and that all material assumptions and technical parameters underpinning the estimate in the previous announcement continue to apply and have not materially changed.
In accordance with ASX Listing Rule 5.19, the Company confirms that the production targets and forecast financial information for the Vares Project were first disclosed in accordance with ASX Listing Rules 5.16 and 5.17 in the Company's announcement dated 19 August 2021. The Company confirms that all the material assumptions underpinning the production target and the forecast financial information in the previous announcement continue to apply and have not materially changed.
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