TIDMADT1

RNS Number : 9288Q

Adriatic Metals PLC

01 November 2021

Adriatic Metals PLC

("Adriatic Metals" or the "Company")

DIRECTOR/PDMR SHARE DEALING

Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF ) confirms that, as previously anticipated in the Results of Placing accouncement on 13 October 2021, Mr Paul Cronin today sold 3,000,000 ordinary shares in the Company.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                           Paul Cronin 
     -----------------------------  ---------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                Chief Executive Officer and Managing 
                                      Director 
     -----------------------------  ---------------------------------------- 
 b)   Initial notification/          Initial notification 
       Amendment 
     -----------------------------  ---------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                           Adriatic Metals PLC 
     -----------------------------  ---------------------------------------- 
 b)   LEI                            549300OHAH2GL1DP0L61 
     -----------------------------  ---------------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ----------------------------------------------------------------------- 
 a)   Description of the 
       financial instrument,          Adriatic Metals PLC CHESS Depositary 
       type of instrument             Interests (ordinary shares) 
       Identification code            ISIN: AU0000004772 
     -----------------------------  ---------------------------------------- 
 b)   Nature of the transaction      Sale of ordinary shares 
     -----------------------------  ---------------------------------------- 
 c)   Price(s) and volume(s)          Price(s)    Volume(s) 
                                       AUD 2.80    3,000,000 
                                                  ---------- 
     -----------------------------  ---------------------------------------- 
 d)    Aggregated information 
         *    Aggregated volume                                    3,000,000 
                                                               AUD 8,400,000 
 
         *    Price 
     -----------------------------  ---------------------------------------- 
 e)   Date of the transaction        1 November 2021 
     -----------------------------  ---------------------------------------- 
 f)   Place of the transaction       Australian Securities Exchange 
     -----------------------------  ---------------------------------------- 
 

** ENDS **

Market Abuse Regulation Disclosure

The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

The person responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.

For further information please visit www.adriaticmetals.com or @adriaticmetals visit on Twitter; or contact:

 
Adriatic Metals PLC 
Paul Cronin / Thomas Horton                      Tel: +44 (0) 7866 
                                                  913207 
 
Canaccord Genuity Limited (Joint Corporate 
 Broker) 
Jeremy Dunlop (Australia)                        Tel: +61 2 9263 2700 
James Asensio (UK)                               Tel: +44 (0) 207 
                                                  523 8000 
 
RBC Capital Markets (Joint Corporate Broker) 
Marcus Jackson / Jamil Miah                      Tel: +44 (0) 20 7653 
                                                  4000 
 
Stifel Nicolaus Europe Limited (Joint Corporate 
 Broker) 
Ashton Clanfield / Callum Stewart                Tel: +44 (0) 20 7710 
                                                  7600 
 
Buchanan 
Bobby Morse / Ariadna Peretz                     Tel: +44 (0) 2074665151 
The Capital Network 
Julia Maguire / Lelde Smits                      Tel: +61 2 8999 3699 
 
 

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 Silver Project in Bosnia & Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.

The 2021 Vares Silver Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. The Company is well-funded and concurrent with the advancing the Vares Silver Project into construction, it continues to explore across its highly prospective 41km2 concession package.

Adriatic Metals completed the acquisition of TSX-listed explorer Tethyan Resource Corp. in Q4 2020, which contained the Raska Zinc-Silver Project in southern Serbia. The Company is exploring across its 99km2 highly prospective concession area, which includes around the formerly operating Kizevak and Sastavci polymetallic mines.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.

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END

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November 01, 2021 08:13 ET (12:13 GMT)

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