Block Listing Six Monthly Return

RNS Number : 4163Q

Adriatic Metals PLC

26 February 2021

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

(ASX:ADT, LSE:ADT1)

BLOCK LISTING SIX MONTHLY RETURN

Name of applicant:		Adriatic Metals PLC
Name of scheme:		Employees' and Consultants' Incentive Plan
Period of return:	From:	27/08/2020	To:	26/02/2021
Balance of unallotted securities under scheme(s) from previous return:		17,500,000
Plus:   The amount by which the block scheme(s) has been increased since the date of the last return (if any increase has been applied for):		n/a
Less:   Number of securities issued/allotted under scheme(s) during period (see LR3.5.7G):		2,050,000
Equals:   Balance under scheme(s) not yet issued/allotted at end of period:		15,450,000

Name of contact:	Geoffrey Eyre
Telephone number of contact:	[phone]

Note: Italicised terms have the same meaning as given in the Listing Rules.)

** ENDS **

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

Adriatic Metals PLC
Paul Cronin / Emma Chetwynd Stapylton	Tel: [phone]
Tavistock Communications Limited
Charles Vivian	Tel: [phone]
Edward Lee	Tel:  [phone]
Gareth Tredway	Tel: [phone]
The Capital Network
Julia Maguire/Lelde Smits	Tel: [phone]

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals explorer and developer that owns the world-class Vares Silver Project in Bosnia & Herzegovina and holds licences across the Raska District in Serbia.

The Vares project's captivating economics and impressive resource inventory have attracted Adriatic's highly experienced team, which is expediting exploration efforts to expand the current JORC resource. Results of a recent pre-feasibility study announced on 15 October 2020 indicate a post-tax NPV₈% of US$1,040 million and IRR of 113%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production with significant cornerstone investment of US$28 million from Queen's Road Capital Investment and EBRD.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 announcement and these assumptions continue to apply. There have been no material changes to the assumptions and technical parameters on the updated Mineral Resource Estimate announced on 1 September 2020 and these assumptions continue to apply.

Adriatic Metals acquired TSX-listed Tethyan Resource Corp in 2020, to advance the former Kizevak and Sastavci polymetallic mines in the Raska District, southern Serbia.

 

END

 

 

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