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African Battery (ABM)

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Monday 11 March, 2019

African Battery

Kisinka Copper-Cobalt Project Update

RNS Number : 4875S
African Battery Metals PLC
11 March 2019
 

11 March 2019

African Battery Metals plc ("ABM" or the "Company")

Kisinka Copper-Cobalt Project Update

African Battery Metals plc (LON:ABM) the AIM listed battery metal exploration and development company is pleased to provide a update on progress achieved with the Kisinka Copper-Cobalt project ("Kisinka" or the "Project") in the Democratic Republic of Congo ("DRC").

Highlights:

·   DRC visit undertaken in late February 2019 by Andrew Bell, Chairman, including meetings with project vendors and local technical advisers;

·  ABM is to proceed with the Kisinka Copper-Cobalt project (permis de recherches PR 12728) and is currently liaising with its geological team to prepare the next stage exploration programme;

 

·  Utilising previous exploration data, modifications to the original exploration programme have been identified to optimise project expenditure;

 

·   Outstanding Kisinka project payments have now been made to the vendor, changes in the legal ownership structure of the license have been made to comply with the new Mining Act, and consequently the Project is in good standing;

 

·   ABM holds a 70% interest and the vendor 30%, ABM remaining the operator of the Project;

 

·   A further announcement will be made in due course to outline the planned exploration programme for Kisinka.

 

Paul Johnson, Executive Director of African Battery Metals commented: "I am pleased to confirm the Company's commitment to the Kisinka Copper-Cobalt Project and look forward to moving this project forward in due course.

ABM is continuing to review all the Company's existing projects and will report back individually with regard to each project over the coming weeks.

The overriding objective of the Company now is to work efficiently through our review of existing interests and where we decide to proceed, to design and implement exploration and development programmes efficiently.

In parallel we continue to review additional opportunities where we see potential for considerable value to be added to our business for shareholders.

Further update announcements are expected in the near term."

 

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

For further information please visit https://www.abmplc.com/ or contact:

 

African Battery Metals plc

 

Paul Johnson (Executive Director)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

 

Ewan Leggat

+44 (0) 20 3470 0470

 SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                          +44 (0) 1483 413 500

 

 

 

Notes to Editors:

ABM is an AIM listed, Africa focused, resource company exploring for the key metals used in next generation batteries that fuel the new electric vehicle revolution. The Board and team of advisors, who have proven expertise in African exploration, mining and project generation, have identified an opportunity to utilise the Company's position to become a leader in the London market for investors to gain exposure to the battery metal commodity suite, particularly cobalt, lithium, copper and nickel. 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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