Source - RNS
RNS Number : 7893I
Alexander Mining PLC
21 June 2017
 

21 June 2017

Alexander Mining plc

("Alexander" or the "Company")

Accudo Commits to a Copper Project Definitive Feasibility Study

Alexander is pleased to report that Accudo Metals Pty Ltd ("Accudo") has advised the Company that it has signed a deed of heads of terms with the owners of the copper tenements and assets in Australia being assessed for the potential use of Alexander's AmmLeach® technology.

The Chairman of Accudo, Dr Saliba Sassine, said that "with the signing of the heads of terms, Accudo will now proceed to conduct a definitive feasibility study ("DFS") with a view to producing a bankable feasibility study if the DFS is positive."

"This is an exciting step for Accudo and Alexander Mining and we look forward to completing the work and assessing the results."

"Accudo is in the process of finalising and appointing members of the feasibility study team which will include hydrometallurgical and engineering, geology and mining, environmental, legal and corporate and financial advisors."

"It is expected that the study will take approximately six months to complete, at the end of which a decision will be made by Accudo on whether to acquire the assets."

Martin Rosser, Chief Executive Officer, said: "The news of Accudo's commitment to proceed with a DFS on the potential use of our leaching technology under the existing licence agreement between us is highly significant.  We look forward to working together closely on this first copper project opportunity in Australia."

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

(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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