Experienced Non-Executive Director Joins the Board

RNS Number : 1023T

Emmerson PLC

23 March 2021

 

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

23 March 2021

Emmerson Plc ("Emmerson" or the "Company")

Experienced Non-Executive Director Joins the Board

Emmerson plc, the Moroccan focused potash development company, is pleased to announce the appointment of Mr James Kelly to the board of directors, effective from 22 March 2021.  Mr Kelly has nearly 20 years of experience in the mining sector, particularly in the areas of corporate finance and financing strategy.

About James Kelly

Prior to its merger with Glencore Plc, James was a senior member of the business development team of Xstrata Plc.  He went on to help found the mining private equity company, Greenstone Resources LP, which takes strategic equity positions in post exploration and development stage assets in both OECD and Emerging Market geographies. James is also founder and non-executive chairman of Trident Royalties Plc, a rapidly growing, diversified mining royalty and streaming company.

Graham Clarke, CEO, commented: "I would like to welcome James to the Emmerson team and very much look forward to working with him.  We are particularly pleased to welcome James to the Board at this time with Emmerson reaching an important stage, as it prepares for the project financing.  James has just the experience in mining finance which will be very relevant to the options that the board will be asked to assess in the coming months as we work to put the funding in place to enable us to continue driving the project forwards."

James Kelly, NED, commented: "I am delighted to be joining the board of Emmerson.  The quality of the Khemisset potash project is apparent for all to see and I believe that it is well placed to contribute new supply into a secular growth of demand for fertilizer, especially in Africa. We know that a high quality and dependable source of potash is a critical pillar in food security which in turn has an outsized positive effect on the developing world. I look forward to working with Graham and his team and playing my part in bringing the project into production."

**ENDS**

For further information, please visit  www.emmersonplc.com , follow us on Twitter (@emmerson_plc), or contact:  Graham Clarke Edward McDermott Emmerson plc [phone]  Jerry Keen Toby Gibbs John More Shore Capital [phone]  Damon Heath Isabella Pierre Shard Capital [phone] Megan Denison Susie Geliher St Brides Partners Limited Financial PR/IR [phone]

Notes to Editors

Emmerson's primary focus is on developing the Khemisset project ("Khemisset" or the "Project") located in Northern Morocco.  The Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24% 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 Feasibility Study released in June 2020 indicated Khemisset has the potential to be among the lowest capital cost development stage potash projects in the world and also, as a result of its location, one of the highest margin projects. This delivered outstanding economics including a post-tax NPV₁₀ of approximately US$1.4 billion using industry expert, Argus', price forecasts.

 

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