LONDON, April 9, 2018 /CNW/ - Meridian Mining SE
(TSX V: MNO) ("Meridian" or the "Company") today announced
Q1 2018 production and sales results for Meridian's high-grade
manganese project located in the state of Rondônia, in
North-Western Brazil.
Between January 1 and March 31st
2018, Meridian:
- Produced 11,333 metric tonnes
- Sold 21,576 metric tonnes
- Completed the trommel upgrade at the Rio Madeira Plant
"Despite intense rainfall events affecting the extraction and
transport of material and the closure of Rio Madeira plant to allow a replacement trommel
to be installed, production has still achieved its
1st quarter targets. This has been a testing time
for the team but with the end of the wet season in sight,
production will benefit from the upgrades in infrastructure and
equipment," said Anthony Julien, President and CEO of
Meridian. "We are now positioned to capitalise on an increasing
demand for high quality manganese utilising our enhanced
capacity."
Production
Meridian more than doubled production
output producing 11,333 metric tonnes (Mt) of manganese product in
the first quarter of 2018 versus 5,530
Mt in the first quarter of 2017.
Sales
Sales increased 67% over the prior year period.
In the first quarter of 2017 Meridian sold 12,921 Mt of manganese versus 21,576 Mt in the first
quarter of 2018.
CIF Tianjin benchmark pricing for 44% manganese was US$8.76
per dmtu as of March 30th, 2018 versus US$
5.21 per dmtu as of March 31,
2017. (source: www.metalbulletin.com).
QUALIFIED PERSON
The technical information about the Company's production and
sales activities has been prepared under the supervision of and
verified by Carlos Braga (B.Sc.,
MBA, member of the Chilean Mining Commission), the Chief Operating
Officer of Meridian Mining, who is a "qualified person" within the
meaning of National Instrument 43-101.
On behalf of the Board of Directors of
Meridian Mining SE
Anthony Julien
President, CEO and Director
ABOUT MERIDIAN
Meridian Mining SE is focused on the acquisition, exploration,
development and mining activities in Brazil. The Company is currently focused on
exploring and developing the Espigão manganese and gold projects,
the Bom Futuro tin JV area, and adjacent areas in the state of
Rondônia. The Company employs a two-pronged strategy with the
objective of growing pilot production while advancing a parallel
multi-commodity regional exploration program. Meridian is
currently producing high grade manganese at its project located at
Espigão do Oeste.
Further information can be found at www.meridianmining.co.
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking
information or forward-looking statements for the purposes of
applicable securities laws. These statements include, among others,
statements with respect to the Company's plans for exploration and
development of its properties and potential mineralization. These
statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the statements. Such risk
factors include, among others, failure to obtain regulatory
approvals, failure to complete anticipated transactions, the timing
and success of future exploration and development activities,
exploration and development risks, title matters, inability to
obtain any required third party consents, operating hazards, metal
prices, political and economic factors, competitive factors,
general economic conditions, relationships with strategic partners,
governmental regulation and supervision, seasonality, technological
change, industry practices and one-time events. In making the
forward-looking statements, the Company has applied several
material assumptions including, but not limited to, the assumptions
that: (1) the proposed exploration and development of mineral
projects will proceed as planned; (2) market fundamentals will
result in sustained metals and minerals prices and (3) any
additional financing needed will be available on reasonable terms.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise except as otherwise
required by applicable securities legislation.
The Company cautions that it has not completed any feasibility
studies on any of its mineral properties, and no mineral reserve
estimate has been established. In particular, because the Company's
production decision relating to BMC's manganese project is not
based upon a feasibility study of mineral reserves, the economic
and technical viability of the Espigão manganese project has not
been established.
The TSX Venture Exchange has in no way passed upon the merits of
the proposed Arrangement and has neither approved nor disapproved
the contents of this news release. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Meridian Mining S.E.
