Appointment of Khemisset Scoping Study Consultant

RNS Number : 1901R

Emmerson PLC

13 June 2018

 

Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining

13 June 2018

Emmerson Plc

("Emmerson" or the "Company") 

Appointment of Scoping Study Consultant for the Khemisset Potash Project, Morocco

Emmerson Plc, the Moroccan focused potash development company, is pleased to announce it has appointed globally-recognised mining engineering firm, Golder Associates ("Golder"), to oversee the delivery of a Scoping Study on the Company's 100% owned Khemisset Potash Project in Northern Morocco ("Khemisset" or "the Project").  

Highlights

·    Golder appointed to deliver a Scoping Study on Khemisset by end Q1 2019

·   Scoping Study and associated work programme is fully funded following Emmerson's re-admission fundraise of £6 million on 4 June 2018

·   Specialist sub-contractors for key workstreams, including processing, will be appointed by or alongside Golder in due course

·    Significant exploration upside at Khemisset providing the potential to increase the potash JORC compliant Inferred Resource of 311 million tonnes at 10.2% K₂0

Hayden Locke, CEO of Emmerson, commented: 

"We have hit the ground running since our re-listing on the London Stock Exchange last week and are excited to be working with a firm with the credibility and expertise of Golder Associates to deliver the Khemisset Scoping Study, and we believe they will add considerable value to the process.

"With the wheels in motion and the funds in place to deliver following our £6 million raise, we are working to confirm, from a high level, the compelling technical and economic potential of the Khemisset project by early 2019.  The next step towards achieving this will be the appointment of an engineering firm with specialist expertise in the processing of potash minerals to work alongside Golder Associates.  We will also be appointing additional contractors to commence a drilling programme in the near-term, with a view to delivering on the twin objective of a) unlocking the upside potential of the already significant JORC compliant Inferred resource of 311 million tonnes and b) upgrading portions of the resource to the "Indicated" category.

"We continue to be excited by the potential for Khemisset to be a low-capex, high margin potash project, and look forward to demonstrating this to the market."

**ENDS**

For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:  Hayden Locke Emmerson Plc Tel: [phone] Edward McDermott James Biddle Roland Cornish Beaumont Cornish Limited Financial Adviser Tel: [phone] Jeremy King Optiva Securities Limited Broker Tel: [phone] Lottie Wadham Susie Geliher St Brides Partners Ltd Financial PR/IR Tel: [phone]

Notes to Editors

Emmerson's primary focus is on developing the Khemisset Potash Project located in Northern Morocco.  The project has a large JORC Resource Estimate (2012) of 311.4Mt @ 10.2% K₂O and significant exploration potential with an accelerated development pathway targeting a low capex, high margin mine.  Khemisset is perfectly located to capitalise on the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. This unique positioning means the project will receive a premium netback price compared to existing potash producers. The need to feed the world's rapidly increasing population is driving demand for potash and Emmerson is well placed to benefit from the opportunities this presents.

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.

 

END

 

 

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