8 October 2024
Adriatic
Metals PLC
("Adriatic Metals" or the "Company")
PRODUCTION UNAFFECTED BY REGIONAL STORM
Adriatic Metals PLC ("Adriatic" or
the "Company") would like to recognize the devastating impact of
the recent storms and subsequent flooding on the central and
southern regions of Bosnia and Herzegovina and offer our heartfelt
sympathies to all those affected by this tragedy.
The severe storms, that occurred on
3 October, resulted in short-term water management issues at Rupice
mine and the Vares Processing Plant but these were effectively
managed, with production continuing as planned.
However, the railway line that
connects Sarajevo to Ploce Port in Croatia has been damaged in the
Jablanica region near Mostar - approx. 70km south of Sarajevo.
Certain sections of the railway line have been flooded and covered
with debris due to landslides. Due to this damage, concentrate
product will instead be trucked to Ploce Port until the railway
track is fully repaired and operating safely. The Company
previously trucked concentrate to Ploce Port in Q2 and Q3 this year
so Adriatic expects no impact on ongoing operations and is
confident in utilising road logistics as a temporary solution.
Adriatic and other key exporters are working closely with the
Federation of Bosnia and Herzegovina Railway to fast track and
optimise the repair of the damaged line.
Additionally, the Adriatic team is
working closely with the local civil protection authorities and the
Red Cross to assist with affected local infrastructure in Vares
including removing road obstructions that were impacting the
community and rebuilding community buildings. Adriatic will be
respecting the Day of Mourning on Tuesday 8 October, that has been
declared in the entire territory of Bosnia and Herzegovina in
remembrance of those who lost their lives in the recent floods and
landslides.
-ends
Authorised by Laura Tyler, Interim
CEO of Adriatic Metals
For further information please
visit: www.adriaticmetals.com;
email: info@adriaticmetals.com,
@AdriaticMetals
on Twitter; or contact:
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Adriatic Metals PLC
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Klara Kaczmarek
GM - Corporate
Development
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Tel: +44 (0) 7859 048228
Klara.kaczmarek@adriaticmetals.com
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Burson Buchanan
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Tel: +44 (0) 20 7466 5000
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Bobby Morse / Christopher
Jones
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adriatic@buchanan.uk.com
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Morgans Corporate Limited
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Rob Douglas / Sam Warriner / Mitch
Duffy
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Tel: +61 7 3334 4888
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RBC
Capital Markets
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Farid Dadashev / James Agnew / Jamil
Miah
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Tel: +44 (0) 20 7653 4000
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Stifel Nicolaus Europe Limited
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Ashton Clanfield / Callum Stewart /
Varun Talwar
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Tel: +44 (0) 20 7710 7600
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Morrow Sodali
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Cameron Gilenko
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Tel: +61 466 984 953
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ABOUT ADRIATIC METALS
Adriatic Metals Plc (ASX:ADT,
LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that
is advancing the world-class Vares Silver Project in Bosnia &
Herzegovina, as well as the Raska Zinc-Silver Project in Serbia.
First concentrate production took place in February 2024 and the
Vares Silver Operation is fully funded to nameplate production,
which is expected in Q4 2024. Concurrent with ongoing operational
activities, the Company continues to explore across its highly
prospective 44km2 concession package.
MARKET ABUSE REGULATION
DISCLOSURE
The information contained within
this announcement is deemed by the Company (LEI:
549300OHAH2GL1DP0L61) to constitute inside information for the
purpose of Article 7 of EU Market Abuse Regulation (EU) No.
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) ACT 2018, as amended. The person
responsible for arranging and authorising the release of this
announcement on behalf of the Company is Laura Tyler, Interim
CEO.