Adriatic Metals PLC Change of Accounting Reference Date (0189G)
November 23 2020 - 2:00AM
UK Regulatory
TIDMADT1
RNS Number : 0189G
Adriatic Metals PLC
23 November 2020
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
Change of Accounting Reference Date
Adriatic Metals Plc (ASX:ADT, LSE:ADT1) announces that it is
changing the Company's accounting reference date from 30 June to 31
December to align it with that of its subsidiary companies.
Accordingly, Adriatic has published audited accounts for the
year ended 30 June 2020 and will subsequently publish audited
accounts for the six months ending 31 December 2020. Thereafter,
interim and annual reports will be published each year for the 6
months to 30 June and 12 months to 31 December respectively.
** ENDS **
For further information please visit www.adriaticmetals.com ,
@AdriaticMetals on Twitter, or contact:
Adriatic Metals PLC
Paul Cronin / Emma Chetwynd Tel: +44 (0) 203 950 9138
Stapylton
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 NPV(8) 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 European
Bank for Reconstruction and Development .
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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END
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