Launch of Vocational Training Programme

RNS Number : 1277Z

Adriatic Metals PLC

19 May 2021

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

ADRIATIC METALS & EBRD LAUNCH

 VOCATIONAL TRAINING PROGRAMME

Adriatic Metals PLC (ASX:ADT, LSE:ADT1) and its subsidiary Eastern Mining d.o.o.  recently announced the launch of a new educational course at Nordbat 2 Secondary  Mixed  School in Vares, Bosnia, dedicated to  new  techniques in mining.

The course, which will be offered to all children over the age of 14 in the Vares and Breza municipalities, will focus on latest technology and advancements in the mining sector, ensuring that the students receive a mining education that encompasses all the sector has to offer.

Paul Cronin, CEO of Adriatic Metals, commented:

"Investing in the future of mining does not mean investing only in technology and machinery but in the people, who are at, the core of any mining operation. The Vares and Breza municipalities have a long history with mining. This course aims to revive the local community's idea of mining and educate young people on the recent advances in mining.

"As in some other regions and countries, the mining industry has had negative aspects to its reputation, however we aim to highlight the differences between the historic styles of mining and new projects improved methods and standards.

"Our key aim with the vocational mining course is to try to keep young people in Vares and provide long term opportunities for this generation. Adriatic Metals is a company that thrives only as much as the community within which it operates, thrives."

The course will span 3 years as part of the regular curriculum at Nordbat 2, focusing on providing the necessary baseline skills and knowledge required to work within the mining industry, particularly underground metalliferous (hard rock) mining.

Adriatic will offer 10 scholarships to the top students, following which they will be offered a 12-month internship once completing the course and graduating from Nordbat 2. The best performing student will receive a scholarship from Adriatic Metals to see them through their University career.

Eastern Mining, along with Nordbat 2, the Ministry of Education, Science, Culture and Sport of Zenica-Doboj Canton, will ensure that all interested parties receive the necessary information and details about this new course and the enrollment process in the next few weeks. It is of the upmost importance to Adriatic Metals and Eastern Mining that this course is available to all students. The project was also supported by EBRD Technical Cooperation Fund and the Centre for The Development of Children and Youth (CRDM).

Mirnes Hrvat, director of NORDBAT-2 Mixed High School in Vareš said: " We are especially proud of the fact that the introduction of this course is a response to the real needs of the labour market, which is not a common occurrence here or in the region. Eastern Mining's decision to invest in this direction shows their commitment to educating high-quality staff. The practical part of this course will take place in the facilities of Eastern Mining, where students will not be mere observers, but will participate, fully, in all phases of modern mining production."

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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]
Annabel de Morgan	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.

 

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