Appointment of ACA Howe

RNS Number : 5182M

URA Holdings PLC

24 May 2022

 

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URA Holdings plc

Commissioning of Competent Person's Report

URA Holdings Plc ("URA" or "the Company") are pleased to announce that ACA Howe ( http://www.acahoweinternational.com/ ) have been commissioned to prepare a Competent Persons Report ("CPR") on the mineral potential, particularly with respect to emeralds, at the Gravelotte Emerald Mine ("GEM") property in South Africa. It is anticipated that this assessment will include the reporting of Mineral Resources and/or Exploration Targets in compliance with the JORC code (2012).

The UK office of ACA Howe International has a 40 year track record of providing high quality, independent geological, mining and metallurgical consultancy services to the mineral exploration and mining industry and have recently completed an initial site visit to the Gravelotte mine ahead of commencing the work on the CPR . The UK office of ACA Howe International has successfully completed over 900 assignments in 75 countries, including exploration, resource estimation, mining engineering and metallurgical consulting on projects in Africa, Asia, Australasia, Europe, North America, and South and Central America.

Bernard Olivier, Chief Executive Officer of URA commented : "We are pleased to announce the engagement of ACA Howe following a recent site visit by them to URA's Gravelotte Emerald Mine ("GEM") in South Africa. ACA Howe has significant coloured gemstone experience including emeralds. They have been involved with various emerald projects globally, including consulting for Gemfields Group Limited (LSE:GEM), owner of the Kagem mine in Zambia, the world's largest producer of emeralds. We look forward to reporting the results of their study to the market in due course."

Background Information

· The Gravelotte emerald mine ("Gravelotte") is historically one of the largest emerald mines in the world and was operational from 1929 to 2002 with:

o  Total recorded historical emerald production from Gravelotte of nearly 113 million carats

o  Largest emerald mine in the world during the 1960's employing over 400 emerald sorters alone

· Gravelotte was acquired by URA Holdings plc in March 2022 for £100,000 of ordinary shares of URA to be issued at the mid-market closing price on the date the SPA is signed ("the Consideration Shares") and additional consideration of AUD200,000.00 (approx. £123,000) in cash for each 5,000,000 carats of emeralds produced by Gravelotte up to maximum aggregate amount of AUD2,000,000 (approx. £1,230,000) as a production royalty. For further details on the transaction please click on the link below: ( https://secureservercdn.net/160.153.137.128/9gd.c8d.myftpupload.com/wp-content/uploads/2022/05/24032022-URA-purchases-Historic-Gravelotte-Emerald-Mine.pdf )

URA Holdings plc CEO Bernard Olivier COO Jeremy Sturgess-Smith	[phone] [e-mail]
Peterhouse Capital Limited Corporate Broker Lucy Williams Duncan Vasey	[phone]

 

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