Gravelotte Emerald Mine Development Update

URA Holdings PLC

20 December 2023

 

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URA Holdings plc

("URA" or the "Company")

Gravelotte Emerald Mine Development Update

URA Holdings plc, the emerald and strategic minerals company with assets in both the Republic of South Africa and Zambia whose shares are traded on the Standard List of the London Stock Exchange, is pleased to announce an operational update for its Gravelotte Emerald Mine ("GEM" or Gravelotte").

Highlights

·      Custom-made Optical Sorter manufactured by Angelon Electronics Co Ltd ("Angelon") in China has been completed and final payments have been made

·      Optical Sorter has now been shipped and is expected to arrive at the port in South Africa in mid to late January 2024

·    Once the Optical Sorter has arrived on site Angelon will send a crew to site from China for assembly and commissioning

·      Phase 1 ready processing plant is more than 65% completed and awaiting the arrival of the Optical Sorter. A primary crusher and primary sizing screen with associated conveyors and dewatering pumps, are all in the process of being procured and installed into the current circuit.

·      Trial mining and processing activities can potentially  re-start within a short period of  months from now, subject to all to the upgrades and the commissioning of the Phase 1 plant continuing to progress on schedule.

Edward Nealon, Chairman of URA commented: "I am extremely pleased to say that URA is now on its planned run-in to commence production. The emerald resource is a sizeable and exciting one and we are confident of getting started and proving its value. It is disappointing that market conditions forced us to raise the necessary funds at a price well below the levels at which it was trading earlier in the year but this round of finance does, as I have said, enable us to take the Company to a position where its potential value can begin to be realised"

Enquiries:

URA Holdings plc Chief Executive Officer Bernard Olivier Director Peter Redmond Chief Operating Officer Jeremy Sturgess-Smith	[phone] [e-mail]
Peterhouse Capital Limited Corporate Broker Lucy Williams Duncan Vasey	[phone]

 

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