DIRECTOR/PDMR SHARE DEALING

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/ Amendment

Initial notification

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, type of instrument

Identification code


Adriatic Metals PLC CHESS Depositary Interests (ordinary shares)

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

-  Price

 

3,000,000

AUD 8,400,000

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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