Tertiary Minerals PLC Formation of Zambian Subsidiary (8991Y)
May 18 2021 - 2:00AM
UK Regulatory
TIDMTYM
RNS Number : 8991Y
Tertiary Minerals PLC
18 May 2021
18 May 2021
Tertiary Minerals plc ("Tertiary" or "the Company")
Formation of Zambian Subsidiary - Luangwa Minerals Limited
Tertiary Minerals plc is pleased to announce that the Company is
forming a Zambian subsidiary, Luangwa Minerals Limited ("Luangwa"),
targeting copper exploration and development opportunities in
Zambia.
The Company has retained geologist Marcel Nally who, it is
expected, will be appointed Luangwa's exploration manager in due
course. Mr. Nally was previously a director of private Zambian
copper producer, Moxico Resources plc, and was responsible for the
identification and acquisition of its principal mining projects.
The Company has also retained Mr. Shangwa Chime as Luangwa's
Government Liaison Officer.
Tertiary will hold 96% of Luangwa, with 3% being held by Mr.
Nally and 1% held by Mr. Chime.
Commenting today, Executive Chairman Patrick Cheetham said:
"Given that the Board has many years of experience with Zambian
mining projects, we are excited to take this next step in the
development of Tertiary's mineral business. Copper is increasingly
a focus for the Company and with Zambia one of the world's top 10
copper producing countries, producing nearly 900,000 tonnes of
copper in 2020, we expect Luangwa to be a valuable addition to the
Tertiary asset portfolio."
For more information please contact:
Tertiary Minerals plc:
Patrick Cheetham, Executive
Chairman +44 (0) 1625 838 679
--------------------------
SP Angel Corporate Finance LLP - Nominated Adviser and Broker
Richard Morrison +44 (0) 203 470 0470
--------------------------
Caroline Rowe
--------------------------
Peterhouse Capital Limited - Joint Broker
Lucy Williams + 44 (0) 207 469 0930
---------------------------
Duncan Vasey
--------------------------
Market Abuse Regulation (MAR) Disclosure
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the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 ('MAR'). Upon the publication of this announcement via
Regulatory Information Service ('RIS'), this inside information is
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END
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