Red Leopard Holdings PLC Idora Tunnel Operations Update (5576D)
January 30 2015 - 2:02AM
UK Regulatory
TIDMRLH
RNS Number : 5576D
Red Leopard Holdings PLC
30 January 2015
30 January 2015
Red Leopard Holdings Plc
("Red Leopard" or the "Company")
Idora Tunnel Operations Update
Following its announcement on 20 August 2014, that the Company
had successfully removed the rock falls and debris at the entrance
to its Idora Mine portal (the "Tunnel") and installed a metal
culvert to permit safe exploration access to the Tunnel, the
Company announces today that further in the Tunnel, rock falls have
been discovered which currently hinder access to the ore body and
any sampling thereof. With the onset of winter and heavy snow, the
Company plans now to recommence the clearance of the Tunnel this
spring. Due to these Health & Safety complexities, there is
likely to be additional costs than were originally budgeted
for.
Howard Crosby, a director of the Company, commented: "We have
been advised by our contractor that costs to advance the necessary
work would increase by as much as 50% if we have to contend with
winter conditions".
With the increase in the value of silver in recent months, the
Company remains committed to completing this project in a timely
manner.
Further updates on progress and developments will be announced
in due course.
Enquiries:
Red Leopard Holdings PLC
John May, Chairman Tel: +44 (0) 207 917 6826
Northland Capital Partners Limited
David Hignell / Gerry Beaney Tel: +44 (0) 207 382 1100
Beaufort Securities Limited
Saif Janjua Tel: +44 (0) 207 382 8300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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