Emmerson PLC Appointment of Khemisset Scoping Study Consultant (1901R)
13 June 2018 - 4:00PM
UK Regulatory
TIDMEML
RNS Number : 1901R
Emmerson PLC
13 June 2018
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
13 June 2018
Emmerson Plc
("Emmerson" or the "Company")
Appointment of Scoping Study Consultant for the Khemisset Potash
Project, Morocco
Emmerson Plc, the Moroccan focused potash development company,
is pleased to announce it has appointed globally-recognised mining
engineering firm, Golder Associates ("Golder"), to oversee the
delivery of a Scoping Study on the Company's 100% owned Khemisset
Potash Project in Northern Morocco ("Khemisset" or "the
Project").
Highlights
-- Golder appointed to deliver a Scoping Study on Khemisset by end Q1 2019
-- Scoping Study and associated work programme is fully funded
following Emmerson's re-admission fundraise of GBP6 million on 4
June 2018
-- Specialist sub-contractors for key workstreams, including
processing, will be appointed by or alongside Golder in due
course
-- Significant exploration upside at Khemisset providing the
potential to increase the potash JORC compliant Inferred Resource
of 311 million tonnes at 10.2% K(2) 0
Hayden Locke, CEO of Emmerson, commented:
"We have hit the ground running since our re-listing on the
London Stock Exchange last week and are excited to be working with
a firm with the credibility and expertise of Golder Associates to
deliver the Khemisset Scoping Study, and we believe they will add
considerable value to the process.
"With the wheels in motion and the funds in place to deliver
following our GBP6 million raise, we are working to confirm, from a
high level, the compelling technical and economic potential of the
Khemisset project by early 2019. The next step towards achieving
this will be the appointment of an engineering firm with specialist
expertise in the processing of potash minerals to work alongside
Golder Associates. We will also be appointing additional
contractors to commence a drilling programme in the near-term, with
a view to delivering on the twin objective of a) unlocking the
upside potential of the already significant JORC compliant Inferred
resource of 311 million tonnes and b) upgrading portions of the
resource to the "Indicated" category.
"We continue to be excited by the potential for Khemisset to be
a low-capex, high margin potash project, and look forward to
demonstrating this to the market."
**ENDS**
For further information,
please visit
www.emmersonplc.com,
follow us on
Twitter (@emmerson_plc),
or contact: Emmerson Plc Tel: +44 (0) 207 236
Hayden Locke 1177
Edward McDermott
James Biddle Beaumont Cornish Limited Tel: +44 (0) 207 628
Roland Cornish Financial Adviser 3396
Jeremy King Optiva Securities Limited Tel: +44 (0) 3137 1904
Broker
Lottie Wadham St Brides Partners Ltd Tel: +44 (0) 20 7236
Susie Geliher Financial PR/IR 1177
Notes to Editors
Emmerson's primary focus is on developing the Khemisset Potash
Project located in Northern Morocco. The project has a large JORC
Resource Estimate (2012) of 311.4Mt @ 10.2% K(2) O and significant
exploration potential with an accelerated development pathway
targeting a low capex, high margin mine. Khemisset is perfectly
located to capitalise on the expected growth of African fertiliser
consumption whilst also being located on the doorstep of European
markets. This unique positioning means the project will receive a
premium netback price compared to existing potash producers. The
need to feed the world's rapidly increasing population is driving
demand for potash and Emmerson is well placed to benefit from the
opportunities this presents.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
This information is provided by RNS, the news service of the
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END
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