Musasa Mine Update

RNS Number : 7997T

Eastinco Mining and Exploration PLC

29 November 2021

 

29 November 2021

Eastinco Mining and Exploration plc

("EME" or the "Company")

Musasa Mine - Mineral Processing and Site Update

Eastinco Mining and Exploration plc is pleased to announce it has engaged the service of Quiver Limited ("Quiver") to manage and operate the gravity separation wash plant on the Musasa project in western Rwanda. The Musasa project is restarting operations from 1 December 2021, after a six-month shutdown due to COVID 19 restrictions.

Quiver is an African focused specialist mineral processing consultancy. Quiver provides advisory and consultancy services in the African mining sector, with their specialty being on heavy mineral separation, such as tantalum, tin and tungsten.

Under agreement, Quiver will provide a Plant Manager, who will be based on site to control and manage the daily operations around the wash plant. In addition, for a minimum of one week per month, a metallurgical consultant will be on-site to help develop short- and long-term process improvements and associated plant upgrade strategies to increase and optimise plant production, with additional material testing and analysis at approved laboratories.

Quiver were previously on site in May 2021, which resulted in several process flow changes and modification recommendations. Additional capital equipment including the imported slurry pumps, is expected on site before month end, with Quiver mobilising to Musasa in the first week of December, to provide expertise and assist in the plant modifications.

Charles Bray, Chairman stated "We are thrilled to have engaged the services of Quiver as our processing consultants. Their experience and expertise in managing gravity separation wash plant operations is precisely what we need, and I am sure that their ability to monitor and identify potential areas for improvement and upgrading will bring positive benefits to the project. Importantly, a significant part of their mandate will be training the wash plant workforce, which will provide long term benefits to the Company as we pursue our gaol of opening additional, similar size operations on our other Rwandan projects. After the delays and logistical challenges resulting from COVID-19 lockdowns and restrictions, we are pleased to have Quiver join with us in getting back to work and look forward to updating our shareholders as we progress our efforts at Musasa."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

The Directors take responsibility for this announcement.

Enquiries:

For further information, please visit http://www.eastinco.com/ or contact:

Eastinco Mining & Exploration Plc:

Charles Bray, Executive Chairman - [e-mail]

AQSE Growth Market Corporate Adviser:

Novum Securities Limited

David Coffman / Lucy Bowden

Tel: [phone]

 

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