Cleansing Notice and Appendix 2A

RNS Number : 2507R
Adriatic Metals PLC
05 March 2021
 

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

 

CLEANSING NOTICE AND APPENDIX 2A

Adriatic Metals PLC (ASX:ADT, LSE:ADT1) advises that a cleansing notice and Appendix 2A (Application for quotation of securities) has today been filed with the Australian Securities Exchange (ASX) and is available on the Company's website:

https://www.adriaticmetals.com/investors/asx-announcements/  

 

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For further information please visit  www.adriaticmetals.com ; @AdriaticMetals on Twitter; or contact:

Adriatic Metals PLC


Paul Cronin / Emma Chetwynd Stapylton

Tel: +44 (0) 7515 357842



Tavistock Communications Limited


Charles Vivian

Tel: +44 (0) 7977 297903

Edward Lee

Tel: +44 (0) 7736 220565

Gareth Tredway

Tel: +44 (0) 7785 974264



The Capital Network


Julia Maguire/Lelde Smits

Tel: +61 2 8999 3699

 

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals explorer and developer that owns the world-class Vares Silver Project in Bosnia & Herzegovina and holds licences across the Raska District in Serbia.

The Vares project's captivating economics and impressive resource inventory have attracted Adriatic's highly experienced team, which is expediting exploration efforts to expand the current JORC resource. Results of a recent pre-feasibility study announced on 15 October 2020 indicate a post-tax NPV8% of US$1,040 million and IRR of 113%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production with significant cornerstone investment of US$28 million from Queen's Road Capital Investment and EBRD.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 announcement and these assumptions continue to apply. There have been no material changes to the assumptions and technical parameters on the updated Mineral Resource Estimate announced on 1 September 2020 and these assumptions continue to apply.

Adriatic Metals acquired TSX-listed Tethyan Resource Corp in 2020, to advance the former Kizevak and Sastavci polymetallic mines in the Raska District, southern Serbia.

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