SigmaRoc PLC Exploratory drilling starts at new Guernsey quarry (0349V)
31 October 2017 - 6:00PM
UK Regulatory
TIDMSRC
RNS Number : 0349V
SigmaRoc PLC
31 October 2017
SigmaRoc plc / EPIC: SRC / Market: AIM / Sector: Construction
Materials
31 October 2017
SigmaRoc plc
('SigmaRoc' or the 'Company')
Start of exploratory drilling at new Guernsey quarry
SigmaRoc plc, the buy-and-build construction materials group, is
pleased to announce that its subsidiary Ronez Ltd ("Ronez"), the
Channel Island construction materials producer, has begun the next
phase to establish a new quarry site on Chouet headland in
Guernsey. Exploratory drilling, scheduled to begin on 6 November
2017, will contribute to the ongoing evaluation of the site's
potential and is an essential part of the planning application.
The Board believes that production at Chouet could initially
start in 2021 and that a quarry at Chouet would have a lifespan of
at least 40 years during which time hardstone could be extracted
from both freeheld mineral and further mineral held by the States
of Guernsey. Ronez is in discussions with the States of Guernsey
Development and Planning Authority over drawing up a development
framework for the site allowing for the most efficient utilisation
of the reserves.
Sigmaroc CEO, Max Vermorken, said: "We are pleased to be
initiating this exploratory work at Chouet Headland. Quarrying is
strategically important to Guernsey and we are convinced that a new
quarry would provide decades of sustainability for the local
industry."
Earlier this month, SigmaRoc announced the acquisition of
Topcrete Limited and its wholly owned subsidiary Allen Concrete
Limited for an initial cash consideration of GBP9m and a deferred
consideration of GBP3.5m.
Ronez is a wholly-owned subsidiary of SigmaRoc, which acquired
the business for GBP45m in January 2017.
Enquiries:
Tel: +44(0)207 002
SigmaRoc 1080
Max Vermorken, CEO
Strand Hanson (Nominated and Tel: +44(0)207 409
Financial adviser) 3494
James Spinney / James Dance
Zeus Capital Limited (Joint Tel: +44(0)203 829
Broker) 5000
Rob Collins / Alex Wood
Tel: +44(0)203 207
Berenberg (Joint Broker) 7800
Ben Wright / Mark Whitmore
/ Laure Fine
Temple Bar Advisory (Financial Tel: +44(0)207 002
PR adviser) 1486
Ed Orlebar / Tom Allison /
Alycia MacAskill sigmaroc@templebaradvisory.com
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. Upon the
publication of this announcement via Regulatory Information
Service, this inside information is now considered to be in the
public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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