REG - Capital Limited - MSALABS Chrysos Barrick Capital Partnership

CapitalAnnouncement

31/10/2023 07:00

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RNS Number : 7646R  Capital Limited  31 October 2023

 

MSALABS Limited & Capital Limited

("MSALABS" & "Capital")

 

Chrysos Corporation, Barrick Gold and MSALABS form global partnership

for deployment of PhotonAssay™

 

MSALABS is pleased to announce that it has forged a partnership with one of
the world's largest gold miners, Barrick Gold, and Chrysos Corporation
(Chrysos), to deliver PhotonAssay™ technology to Barrick mine sites across
four continents. The partnership will commence with the deployment of three
MSALABS contracted PhotonAssay™ units to the Nevada Gold Mines (NGM) complex
in the United States of America (USA), with the potential deployment of up to
10 more PhotonAssay™ units to other Barrick projects by the end of 2025,
subject to finalising due diligence. The partnership is an extension of an
already successful relationship between the three companies at Barrick's
Bulyanhulu mine in Tanzania and its Kibali operations in the Democratic
Republic of the Congo (DRC).

 

The single largest gold-mining complex in the world, NGM is 61.5% owned and
operated by Barrick, and 38.5% owned by the world's largest gold miner,
Newmont. The assets at the complex include 10 underground mines, 12 surface
mines as well as multiple related facilities.

 

Chrysos Managing Director and CEO Dirk Treasure commented: "Barrick's global
adoption of our technology is a watershed moment for us, underlining
PhotonAssay's superiority to outdated and hazardous fire assay methods.
Together with the team at MSALABS, we look forward to bringing the same
operational and environmental benefits being delivered at Bulyanhulu and
Kibali in Africa to more of Barrick's gold mines."

 

Striking a similar tone, Barrick Mineral Resource Management & Evaluations
Executive Simon Bottoms, said: "PhotonAssay has already been delivering
faster, safer, more accurate and environmentally-friendly analysis to our
African operations, so we are more than pleased to broaden the partnership
with Chrysos and MSALABS to take advantage of this innovative technology in
our global operations."

 

On leveraging PhotonAssay's previous successes, Stuart Thomson, MSALABS CEO,
enthused: "This partnership reflects the teamwork that's driven the highly
successful integration of PhotonAssay technology into Barrick's mine sites
since the first hybrid lab commissioned in Bulyanhulu in 2021. MSALABS'
holistic approach including design, construction and process components has
resulted in seamless transitions from fire assay to PhotonAssay at Bulyanhulu
and Kibali. Development has continued with copper assaying and innovations in
sample logistics and robotics, extending the capability, safety and
productivity of the entire system."

 

 

- ENDS -

 

For further information, please visit Capital Limited's website
www.capdrill.com or contact:

 

Capital Limited
 
investor@capdrill.com

Peter Stokes, Chief Executive
Officer

Rick Robson, Chief Financial Officer

Conor Rowley, Corporate Development & Investor Relations

 

Tamesis Partners LLP
 
+44 20 3882 2868

Charlie Bendon

Richard Greenfield

 

 

Stifel Nicolaus Europe Limited
 
+44 20 7710 7600

Ashton Clanfield

Callum Stewart

Rory Blundell

 

Buchanan
 
+44 20 7466 5000

Bobby
Morse
                   capital@buchanan.uk.com

George Pope

 

About Capital Limited

 

Capital Limited is a leading mining services company providing a complete
range of drilling, mining, maintenance and geochemical laboratory solutions to
customers within the global minerals industry. The Company's services include:
exploration, delineation and production drilling; load and haul services;
maintenance; and geochemical analysis. The Group's corporate headquarters are
in the United Kingdom and it has established operations in Côte d'Ivoire,
Canada, Democratic Republic of Congo, Egypt, Gabon, Ghana, Guinea, Kenya,
Mali, Mauritania, Nigeria, Pakistan, Saudi Arabia, Tanzania and the United
States of America.

 

 

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