Source - RNS
RNS Number : 8526M
Alexander Mining PLC
18 October 2016
 

18 October 2016

Alexander Mining plc

("Alexander" or the "Company")

Progress Report on Licence Agreement with Accudo Metals Pty. Ltd.

Alexander is pleased to announce a progress report on its leaching technologies licence agreement in Australia with Accudo Metals Pty. Ltd. ("Accudo") announced on 25 August 2016.

Accudo has advised Alexander that the initial laboratory hydrometallurgical test work on the AmmLeach® ammonia leaching technology has been completed.  The work tested oxide and transitional ore from an Australian copper mine.  Whilst the results are still being reviewed in detail, Accudo reports that the AmmLeach® technology successfully leached copper from the ore at good recovery rates.  Accudo is reviewing the proposed work programme for a scoping study before proceeding to this stage and expects to make a decision on this in the near future.

Dr Saliba Sassine of Accudo said: "We are encouraged by the results which were consistent with the AmmLeach® claims and are looking forward to the next stage of testing that will include the broad economic parameters of the technology."

Martin Rosser, Chief Executive Officer, said: "We are pleased with the technical test work progress to date and the working relationship established with Accudo."

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: [email protected]

Website: www.alexandermining.com

 

 

 

Northland Capital Partners Limited 

Matthew Johnson / Gerry Beaney

+44 (0) 20 3861 6625

(Corporate Finance)

John Howes / Abigail Wayne

(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
 
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