Alexander Mining PLC Accudo Licence Agreement Update (8526M)
October 18 2016 - 8:23AM
UK Regulatory
TIDMAXM
RNS Number : 8526M
Alexander Mining PLC
18 October 2016
18 October 2016
Alexander Mining plc
("Alexander" or the "Company")
Progress Report on Licence Agreement with Accudo Metals Pty.
Ltd.
Alexander is pleased to announce a progress report on its
leaching technologies licence agreement in Australia with Accudo
Metals Pty. Ltd. ("Accudo") announced on 25 August 2016.
Accudo has advised Alexander that the initial laboratory
hydrometallurgical test work on the AmmLeach(R) ammonia leaching
technology has been completed. The work tested oxide and
transitional ore from an Australian copper mine. Whilst the results
are still being reviewed in detail, Accudo reports that the
AmmLeach(R) technology successfully leached copper from the ore at
good recovery rates. Accudo is reviewing the proposed work
programme for a scoping study before proceeding to this stage and
expects to make a decision on this in the near future.
Dr Saliba Sassine of Accudo said: "We are encouraged by the
results which were consistent with the AmmLeach(R) claims and are
looking forward to the next stage of testing that will include the
broad economic parameters of the technology."
Martin Rosser, Chief Executive Officer, said: "We are pleased
with the technical test work progress to date and the working
relationship established with Accudo."
Background on Accudo
Accudo is a special purpose vehicle established to hold granted
licences for the MetaLeach technologies and to test the Leaching
Technologies on target ore bodies with a view to taking these into
commercial production. The company will pursue these projects in a
systematic manner and subject them to detailed testing and
definitive feasibility studies ahead of commercial production. The
privately-held company is funded by sophisticated investors and
clients of BlueMount Capital, a national mid-tier Australian
investment bank. BlueMount Capital specialises in corporate
finance, including IPO, M&A, MBO and cross border transactions
(www.bluemountcapital.com).
This announcement is inside information for the purposes of
Article 7 of EU Regulation 596/2014.
ENDS
For further information, please contact:
Martin Rosser
Chief Executive
Mobile: +44 (0) 7770 865
341
Matt Sutcliffe
Executive Chairman
Mobile: +44 (0) 7887 930
758
Alexander Mining plc
Tel: +44 (0) 20 7078 9566
Email: mail@alexandermining.com
Website: www.alexandermining.com
Northland Capital Partners
Limited
Matthew Johnson / Gerry
Beaney
+44 (0) 20 3861 6625
(Corporate Finance)
John Howes / Abigail Wayne
(Corporate Broking)
Turner Pope Investments
(TPI) Ltd
James Pope / Ben Turner
+44 (0) 20 3621 4120
This information is provided by RNS
The company news service from the London Stock Exchange
END
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