Resignation of Director

RNS Number : 4651S

Adriatic Metals PLC

09 July 2020

 

Adriatic Metals PLC 

('Adriatic Metals' or the 'Company')

Resignation of Director

Precious and base metals explorer and developer Adriatic Metals Plc (ASX:ADT, LON:ADT1) "Adriatic" or "the Company" announces the resignation of John Richards from the board of the Company.

Mr Richards was appointed as a Non-Executive Director of Adriatic following his nomination by Sandfire Resources Limited "SFR", under the terms of the Collaboration and Strategic Partnership Deed between Adriatic and SFR.

SFR have advised the Company that they have withdrawn their nomination of Mr Richards.

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MARKET ABUSE REGULATION DISCLOSURE

The information contained within this announcement is deemed by the Company (LEI: 549300OHAH2GL1DP0L61) to constitute inside ‎information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person ‎responsible for arranging the release of this announcement on behalf of the Company is Paul Cronin, Managing Director and CEO.

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

Adriatic Metals PLC Paul Cronin / Emma Chetwynd Stapylton Tel: [phone] Tavistock Communications Limited Charles Vivian Tel: [phone] Edward Lee Tel:  [phone] Gareth Tredway Tel: [phone]

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals explorer and developer that owns the world-class advanced polymetallic Vares project in Bosnia & Herzegovina.

The Vares project consists of two high-grade polymetallic deposits, located at Rupice and Veovaca. Bosnia & Herzegovina is well-positioned in central Europe and boasts a strong mining history, pro-mining environment, highly-skilled workforce as well as extensive existing infrastructure and logistics.

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 scoping study indicate an NPV₈ of US$917 million and IRR of 107%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production.

 

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