REG - European Metals Hldg - Quarterly Report
31/01/2024 07:00
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RNS Number : 5009B European Metals Holdings Limited 31 January 2024
For immediate release
31 January 2024
EUROPEAN METALS HOLDINGS LIMITED
QUARTERLY ACTIVITIES REPORT ENDED 31 DECEMBER 2023
European Metals Holdings Limited (ASX & AIM: EMH, OTCQX: EMHXY, ERPNF and
EMHLF) ("European Metals" or the "Company") is pleased to provide an update on
its activities during the three-month period ending 31 December 2023 (the
"Period") highlighting the continued progress in the development of the
globally significant Cinovec Lithium Project ("the Project" or "Cinovec") in
the Czech Republic.
Successful Battery-Grade pilot programme for Cinovec Lithium Project
During the Period, the Company announced the results of the Lithium Chemical
Plant (LCP) pilot programme, confirming the robustness of the Cinovec LCP
process flowsheet and providing a strong foundation for the execution of the
Cinovec Project.
The pilot programme undertaken at ALS Laboratories in Perth, Western
Australia, set out to confirm the LCP flowsheet (refer to ASX / AIM
announcement of 31 October 2022 "Simplified Extraction Process delivers
exceptionally-clean battery-grade lithium product with improved economics")
and to produce sufficient marketing samples for potential off-takers to test
in their own laboratories.
The pilot programme has achieved these objectives without necessitating any
further development of the LCP process flowsheet.
In doing so, the pilot programme has provided extensive data throughout all of
the LCP process steps. This data contributes to the confirmation of design and
engineering for both the ongoing Definitive Feasibility Study (DFS) and the
post-DFS execution of the Project. (Refer to ASX / AIM announcement dated
9 November 2023)
Extension Granted to all Cinovec Exploration Licenses
Subsequent to the Period, the Company announced the granting of an extension
to all four Cinovec Exploration Licences ("the licences") (refer to ASX / AIM
announcement dated 29 January 2024). These licenses fully cover all three
granted Preliminary Mining Permits ("PMP's") comprising the Cinovec Project.
All four licences have been extended until 31 December 2026. The granting of
this extension follows a comprehensive evaluation by the relevant state
authorities of results achieved to date in exploring the deposit. Plans for
future exploration work, including further resource drilling, and compliance
with conditions set by the Czech Ministry of Environment were also assessed.
The extension was required as the granted PMP's, whilst conveying the sole and
exclusive rights to apply for a Final Mining Permit, do not allow for further
drilling until the final mining area is granted. As the Company plans to
conduct further metallurgical and measured resource drilling, an extension to
the exploration licenses due to expire in December 2023 was sought.
The Licence extensions apply to the Exploration Areas Cinovec, Cinovec II,
Cinovec III and Cinovec IV, which fully cover the East, South and NorthWest
PMP's.
DFS Update
The Company advises that the delivery of the Definitive Feasibility Study
("DFS") for the Cinovec Lithium Project in the Czech Republic ("Cinovec" or
the "Project") is now scheduled for Q1 2024. Following detailed analysis,
approval has been granted to a formal request from Geomet and the Project
study team of DRA Global (Lithium Processing DFS) and Bara Consulting (Mining
DFS) for a timetable extension to complete capital and operating cost
estimation and project implementation scheduling.
Both Geomet and the Company recognise the importance of ensuring accurate and
comprehensive engineering and cost data for the DFS, as it forms the
foundation of the study's findings and recommendations. In this regard, the
Company believes it is prudent to allow the necessary time to complete the
study to the highest standard to ensure the delivery of a robust, accurate DFS
that conveys the full economic and resource potential of the Project. The
Company does not expect that the extension of the study period will impact the
overall project timeline, with the permitting process already well underway.
(Refer to ASX / AIM Announcement dated 22 December 2023).
The Company notes the current weakness in global lithium prices, however
remains confident in the longer-term outlook based on the significant growth
in Electric Vehicle production and other energy storage applications. This is
particularly true in Europe, our area of operations. Benchmark Minerals, a
recognised world leader in battery supply chain and energy transition
intelligence, forecast a long-term incentive price for lithium carbonate in
excess of USD 28,000/tonne.
CORPORATE AND ADMINISTRATION
QUARTERLY CASHFLOW REPORT
In accordance with the ASX Listing Rules, the Company will also today lodge
its cashflow report for the quarter ended 31 December 2023. There was no
cash outflow for Cinovec associated costs in respect of the Company's
investment in the Cinovec Lithium Project in the Czech Republic during the
quarter.
The Company's total cash is $5.7million as at 31 December 2023. It is noted
that there is approximately a further $1 million in receivables with respect
to amounts to be paid from its associate, Geomet s.r.o for providing services
of managing the Cinovec Project development as at 31 December 2023.
PAYMENTS TO RELATED PARTIES
As outlined in the attached Appendix 5B (section 6.1), during the quarter
approximately $429k in payments were made to related parties and their
associates for director salaries, consultancy fees, superannuation, and other
related costs. A portion of these expenses are to be reimbursed directly
from Geomet.
CORPORATE ACTIVITY
During the quarter, the Company issued 200,000 CDIs on exercise of 200,000
unlisted options (AUD0.45; 23 October 2023) on 20 October 2023. The
Company issued a further 2,024,000 CDIs on exercise of 2,024,000 unlisted
options (AUD0.42; 23 October 2023) on 25 October 2023. The exercise of
these options raised approximately AUD940,000.
During the quarter, the Company appointed BDO Pty Ltd as auditor.
In November 2023, the Company moved its registered office in Australia to the
following address:
Ground Floor, 41 Colin Street, West Perth WA
6005
Telephone numbers and postal address remain unchanged.
GEOMET TENEMENT SCHEDULE
Table 1: Geomet Tenements
Permit Code Deposit Interest at beginning of Quarter Acquired / Disposed Interest at end of Quarter
Cinovec N/A 100% N/A 100%
Exploration Area
Cinovec II 100% N/A 100%
Cinovec III 100% N/A 100%
Cinovec IV 100% N/A 100%
Preliminary Mining Permit Cinovec II Cinovec South 100% N/A 100%
Cinovec III Cinovec East 100% N/A 100%
Cinovec IV Cinovec Northwest 100% N/A 100%
This announcement has been approved for release by the Board.
CONTACT
For further information on this update or the Company generally, please visit
our website at www.europeanmet.com (http://www.europeanmet.com) or see full
contact details at the end of this release.
BACKGROUND INFORMATION ON CINOVEC
PROJECT OVERVIEW
Cinovec Lithium Project
Geomet s.r.o. controls the mineral exploration licenses awarded by the Czech
State over the Cinovec Lithium Project. Geomet has been granted a preliminary
mining permit by the Ministry of Environment and the Ministry of Industry. The
company is owned 49% by EMH and 51% by CEZ a.s. through its wholly owned
subsidiary, SDAS. Cinovec hosts a globally significant hard rock lithium
deposit with a total Measured Mineral Resource of 53.3Mt at 0.48% Li(2)O,
Indicated Mineral Resource of 360.2Mt at 0.44% Li(2)O and an Inferred Mineral
Resource of 294.7Mt at 0.39% Li(2)O containing a combined 7.39 million tonnes
Lithium Carbonate Equivalent (refer to the Company's ASX/AIM release dated 13
October 2021) (Resource Upgrade at Cinovec Lithium Project).
An initial Probable Ore Reserve of 34.5Mt at 0.65% Li(2)O reported 4 July 2017
(Cinovec Maiden Ore Reserve - Further Information) has been declared to cover
the first 20 years mining at an output of 22,500tpa of lithium carbonate
(refer to the Company's ASX/AIM release dated 11 July 2018) (Cinovec
Production Modelled to Increase to 22,500tpa of Lithium Carbonate).
This makes Cinovec the largest hard rock lithium deposit in Europe and the
fifth largest non-brine deposit in the world.
The deposit has previously had over 400,000 tonnes of ore mined as a trial
sub-level open stope underground mining operation.
On 19 January 2022, EMH provided an update to the 2019 PFS Update, conducted
by specialist independent consultants, which indicates a post-tax NPV of
USD1.938B and a post-tax IRR of 36.3% and confirmed that the Cinovec Project
is a potential low operating cost producer of battery-grade lithium hydroxide
or battery grade lithium carbonate as markets demand. It confirmed the deposit
is amenable to bulk underground mining (refer to the Company's ASX/AIM release
dated 19 January 2022) (PFS Update delivers outstanding results).
Metallurgical test-work has produced both battery-grade lithium hydroxide and
battery-grade lithium carbonate at excellent recoveries. Cinovec is centrally
located for European end-users and is well serviced by infrastructure, with a
sealed road adjacent to the deposit, rail lines located 5 km north and 8 km
south of the deposit, and an active 22 kV transmission line running to the
historic mine. The deposit lies in an active mining region.
The economic viability of Cinovec has been enhanced by the recent strong
increase in demand for lithium globally, and within Europe specifically.
There are no other material changes to the original information and all the
material assumptions continue to apply to the forecasts.
BACKGROUND INFORMATION ON CEZ
Headquartered in the Czech Republic, CEZ a.s. is one of the largest companies
in the Czech Republic and a leading energy group operating in Western and
Central Europe. CEZ's core business is the generation, distribution, trade in,
and sales of electricity and heat, trade in and sales of natural gas, and coal
extraction. The foundation of power generation at CEZ Group are emission-free
sources. The CEZ strategy named Clean Energy for Tomorrow is based on
ambitious decarbonisation, development of renewable sources and nuclear
energy. CEZ announced that it would move forward its climate neutrality
commitment by ten years to 2040.
The largest shareholder of its parent company, CEZ a.s., is the Czech
Republic with a stake of approximately 70%. The shares of CEZ a.s. are traded
on the Prague and Warsaw stock exchanges and included in the PX and WIG-CEE
exchange indices. CEZ's market capitalization is approximately EUR 20.3
billion.
As one of the leading Central European power companies, CEZ intends to develop
several projects in areas of energy storage and battery manufacturing in the
Czech Republic and in Central Europe.
CEZ is also a market leader for E-mobility in the region and has installed and
operates a network of EV charging stations throughout Czech Republic. The
automotive industry in the Czech Republic is a significant contributor to GDP,
and the number of EV's in the country is expected to grow significantly in the
coming years.
COMPETENT PERSONS
Information in this announcement relating to the FECAB metallurgical testwork
is based on technical data compiled or supervised by Mr Walter Mädel, a
full-time employee of Geomet s.r.o a subsidiary of the Company. Mr Mädel is a
member of the Australasian Institute of Mining and Metallurgy (AUSIMM) and a
mineral processing professional with over 27 years of experience in
metallurgical process and project development, process design, project
implementation and operations. Of his experience, at least 5 years have been
specifically focused on hard rock pegmatite Lithium processing development. Mr
Mädel consents to the inclusion in the announcement of the matters based on
this information in the form and context in which it appears. Mr Mädel is a
participant in the long-term incentive plan of the Company.
Information in this release that relates to exploration results is based on
information compiled by Dr Vojtech Sesulka. Dr Sesulka is a Certified
Professional Geologist (certified by the European Federation of Geologists), a
member of the Czech Association of Economic Geologist, and a Competent Person
as defined in the JORC Code 2012 edition of the Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr
Sesulka has provided his prior written consent to the inclusion in this report
of the matters based on his information in the form and context in which it
appears. Dr Sesulka is an independent consultant with more than 10 years
working for the EMH or Geomet companies. Dr Sesulka does not own any shares in
the Company and is not a participant in any short- or long-term incentive
plans of the Company.
Mr Grant Harman (B.Sc Chem Eng, B.Com) is an independent consultant with in
excess of 7 years of lithium chemicals experience. Mr Harman supervised and
reviewed the metallurgical test work and the process design criteria and flow
sheets in relation to the LCP. Mr Harman is a participant in the long-term
incentive plan of the Company.
The information in this release that relates to Mineral Resources and
Exploration Targets is based on, and fairly reflects, information and
supporting documentation prepared by Mr Lynn Widenbar. Mr Widenbar, who is a
Member of the Australasian Institute of Mining and Metallurgy and a Member of
the Australasian Institute of Geoscientists, is a full-time employee of
Widenbar and Associates and produced the estimate based on data and geological
information supplied by European Metals. Mr Widenbar has sufficient experience
that is relevant to the style of mineralisation and type of deposit under
consideration and to the activity that he is undertaking to qualify as a
Competent Person as defined in the JORC Code 2012 Edition of the Australasian
Code for Reporting of Exploration Results, Minerals Resources and Ore
Reserves. Mr Widenbar has provided his prior written consent to the inclusion
in this report of the matters based on his information in the form and context
that the information appears. Mr Widenbar does not own any shares in the
Company and is not a participant in any short- or long-term incentive plans of
the Company.
The Company confirms that it is not aware of any new information or data that
materially affects the information included in the original market
announcement and, in the case of estimates of Mineral Resources or Ore
Reserves, that all material assumptions and technical parameters underpinning
the estimates in the relevant market announcement continue to apply and have
not materially changed. The Company confirms that the form and context in
which the Competent Person's findings are presented have not been materially
modified from the original market announcement.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information included in this release constitutes forward-looking statements.
Often, but not always, forward looking statements can generally be identified
by the use of forward looking words such as "may", "will", "expect", "intend",
"plan", "estimate", "anticipate", "continue", and "guidance", or other similar
words and may include, without limitation, statements regarding plans,
strategies and objectives of management, anticipated production or
construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks,
uncertainties and other factors that may cause the company's actual results,
performance, and achievements to differ materially from any future results,
performance, or achievements. Relevant factors may include, but are not
limited to, changes in commodity prices, foreign exchange fluctuations and
general economic conditions, increased costs and demand for production inputs,
the speculative nature of exploration and project development, including the
risks of obtaining necessary licences and permits and diminishing quantities
or grades of reserves, political and social risks, changes to the regulatory
framework within which the company operates or may in the future operate,
environmental conditions including extreme weather conditions, recruitment and
retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the company and its management's good
faith assumptions relating to the financial, market, regulatory and other
relevant environments that will exist and affect the company's business and
operations in the future. The company does not give any assurance that the
assumptions on which forward looking statements are based will prove to be
correct, or that the company's business or operations will not be affected in
any material manner by these or other factors not foreseen or foreseeable by
the company or management or beyond the company's control.
Although the company attempts and has attempted to identify factors that would
cause actual actions, events or results to differ materially from those
disclosed in forward looking statements, there may be other factors that could
cause actual results, performance, achievements or events not to be as
anticipated, estimated or intended, and many events are beyond the reasonable
control of the company. Accordingly, readers are cautioned not to place undue
reliance on forward looking statements. Forward looking statements in these
materials speak only at the date of issue. Subject to any continuing
obligations under applicable law or any relevant stock exchange listing rules,
in providing this information the company does not undertake any obligation to
publicly update or revise any of the forward looking statements or to advise
of any change in events, conditions or circumstances on which any such
statement is based.
LITHIUM CLASSIFICATION AND CONVERSION FACTORS
Lithium grades are normally presented in percentages or parts per million
(ppm). Grades of deposits are also expressed as lithium compounds in
percentages, for example as a percent lithium oxide (Li(2)O) content or
percent lithium carbonate (Li(2)CO(3)) content.
Lithium carbonate equivalent ("LCE") is the industry standard terminology for,
and is equivalent to, Li(2)CO(3). Use of LCE is to provide data comparable
with industry reports and is the total equivalent amount of lithium carbonate,
assuming the lithium content in the deposit is converted to lithium carbonate,
using the conversion rates in the table included below to get an equivalent
Li(2)CO(3) value in percent. Use of LCE assumes 100% recovery and no process
losses in the extraction of Li(2)CO(3) from the deposit.
Lithium resources and reserves are usually presented in tonnes of LCE or Li.
The standard conversion factors are set out in the table below:
Table: Conversion Factors for Lithium Compounds and Minerals
Convert from Convert to Li Convert to Li(2)O Convert to Li(2)CO(3) Convert to LiOH.H(2)O
Lithium Li 1.000 2.153 5.325 6.048
Lithium Oxide Li(2)O 0.464 1.000 2.473 2.809
Lithium Carbonate Li(2)CO(3) 0.188 0.404 1.000 1.136
Lithium Hydroxide LiOH.H(2)O 0.165 0.356 0.880 1.000
Lithium Fluoride LiF 0.268 0.576 1.424 1.618
Appendix 5B
Mining exploration entity or oil and gas exploration entity
quarterly cash flow report
Name of entity
European Metals Holdings Limited (ASX: EMH)
ABN Quarter ended ("current quarter")
55 154 618 989 31 December 2023
Consolidated statement of cash flows Current quarter Year to date
$A'000
(6 months)
$A'000
1. Cash flows from operating activities - -
1.1 Receipts from associate
1.2 Payments for - -
(a) exploration & evaluation
(b) development - -
(c) production - -
(d) staff costs (561) (866)
(e) administration and corporate costs (676) (2,002)
1.3 Dividends received (see note 3) - -
1.4 Interest received 185 280
1.5 Interest and other costs of finance paid - -
1.6 Income taxes paid - -
1.7 Government grants and tax incentives - -
1.8 Other (Cinovec associated costs) - (10)
1.9 Net cash from / (used in) operating activities (1,052) (2,598)
2. Cash flows from investing activities - -
2.1 Payments to acquire or for:
(a) entities
(b) tenements - -
(c) property, plant and equipment (4) (4)
(d) exploration & evaluation - -
(e) investments (8,445) (11,392)
(f) other non-current assets - -
2.2 Proceeds from the disposal of: - -
(a) entities
(b) tenements - -
(c) property, plant and equipment - -
(d) investments - -
(e) other non-current assets - -
2.3 Cash flows from loans to other entities - -
2.4 Dividends received (see note 3) - -
2.5 Other (Proceeds from EBRD investment funds. Refer ASX announcement 21 July - -
2023)
2.6 Net cash from / (used in) investing activities (8,449) (11,396)
3. Cash flows from financing activities 10,829 11,009
3.1 Proceeds from issues of equity securities (excluding convertible debt
securities)
3.2 Proceeds from issue of convertible debt securities - -
3.3 Proceeds from exercise of options - -
3.4 Transaction costs related to issues of equity securities or convertible debt - (3)
securities
3.5 Proceeds from borrowings - -
3.6 Repayment of borrowings - -
3.7 Transaction costs related to loans and borrowings - -
3.8 Dividends paid - -
3.9 Other (Lease Payments) (25) (35)
3.10 Net cash from / (used in) financing activities 10,804 10,971
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4,518 8,893
4.2 Net cash from / (used in) operating activities (item 1.9 above) (1,052) (2,598)
4.3 Net cash from / (used in) investing activities (item 2.6 above) (8,449) (11,396)
4.4 Net cash from / (used in) financing activities (item 3.10 above) 10,804 10,971
4.5 Effect of movement in exchange rates on cash held (152) (201)
4.6 Cash and cash equivalents at end of period 5,669 5,669
5. Reconciliation of cash and cash equivalents Current quarter Previous quarter
at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts
$A'000
$A'000
5.1 Bank balances 5,640 4,518
5.2 Call deposits 29 -
5.3 Bank overdrafts - -
5.4 Term deposit less than 3 months - -
5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 5,669
4,518
6. Payments to related parties of the entity and their associates Current quarter
$A'000
6.1 Aggregate amount of payments to related parties and their associates included 429
in item 1
6.2 Aggregate amount of payments to related parties and their associates included -
in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity
report must include a description of, and an explanation for, such payments.
Amounts paid to directors as director remuneration. A portion of these
expenses are reimbursed directly from Geomet. Included in 6.1 are also
payments to Nexia Perth Pty Ltd for company secretarial support, accounting
and bookkeeping fees of $49.1k, being companies of which a spouse of a
director is key management personnel.
7. Financing facilities Total facility amount at quarter end Amount drawn at quarter end
Note: the term "facility' includes all forms of financing arrangements available to the entity.
$A'000
$A'000
Add notes as necessary for an understanding of the sources of finance available to the entity.
7.1 Loan facilities - -
7.2 Credit standby arrangements - -
7.3 Other (please specify) - -
7.4 Total financing facilities - -
7.5 Unused financing facilities available at quarter end -
7.6 Include in the box below a description of each facility above, including the
lender, interest rate, maturity date and whether it is secured or unsecured.
If any additional financing facilities have been entered into or are proposed
to be entered into after quarter end, include a note providing details of
those facilities as well.
8. Estimated cash available for future operating activities $A'000
8.1 Net cash from / (used in) operating activities (item 1.9) (1,052)
8.2 (Payments for exploration & evaluation classified as investing activities) -
(item 2.1(d))
8.3 Total relevant outgoings (item 8.1 + item 8.2) (1,052)
8.4 Cash and cash equivalents at quarter end (item 4.6) 5,669
8.5 Unused finance facilities available at quarter end (item 7.6) -
8.6 Total available funding (item 8.4 + item 8.5) 5,669
8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 5.39
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8.8 If item 8.7 is less than 2 quarters, please provide answers to the following
questions:
8.8.1 Does the entity expect that it will continue to have the current
level of net operating cash flows for the time being and, if not, why not?
Answer: N/A
8.8.2 Has the entity taken any steps, or does it propose to take any
steps, to raise further cash to fund its operations and, if so, what are those
steps and how likely does it believe that they will be successful?
Answer: N/A
8.8.3 Does the entity expect to be able to continue its operations and
to meet its business objectives and, if so, on what basis?
Answer: N/A
Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2
and 8.8.3 above must be answered.
It is noted that there is approximately a further $1 million in receivables
with respect to amounts to be paid from its associate, Geomet s.r.o for
providing services of managing the Cinovec Project development as at
31 December 2023.
Compliance statement
1 This statement has been prepared in accordance with accounting
standards and policies which comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters
disclosed.
Date: 31 January 2024
Authorised by: The Board
(Name of body or officer authorising release - see note 4)
Notes
1. This quarterly cash flow report and the accompanying
activity report provide a basis for informing the market about the entity's
activities for the past quarter, how they have been financed and the effect
this has had on its cash position. An entity that wishes to disclose
additional information over and above the minimum required under the Listing
Rules is encouraged to do so.
2. If this quarterly cash flow report has been prepared in
accordance with Australian Accounting Standards, the definitions in, and
provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and
AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash
flow report has been prepared in accordance with other accounting standards
agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent
standards apply to this report.
3. Dividends received may be classified either as cash flows
from operating activities or cash flows from investing activities, depending
on the accounting policy of the entity.
4. If this report has been authorised for release to the
market by your board of directors, you can insert here: "By the board". If it
has been authorised for release to the market by a committee of your board of
directors, you can insert here: "By the [name of board committee - eg Audit
and Risk Committee]". If it has been authorised for release to the market by a
disclosure committee, you can insert here: "By the Disclosure Committee".
5. If this report has been authorised for release to the
market by your board of directors and you wish to hold yourself out as
complying with recommendation 4.2 of the ASX Corporate Governance Council's
Corporate Governance Principles and Recommendations, the board should have
received a declaration from its CEO and CFO that, in their opinion, the
financial records of the entity have been properly maintained, that this
report complies with the appropriate accounting standards and gives a true and
fair view of the cash flows of the entity, and that their opinion has been
formed on the basis of a sound system of risk management and internal control
which is operating effectively.
WEBSITE
A copy of this announcement is available from the Company's website at
www.europeanmet.com/announcements/ (http://www.europeanmet.com/announcements/)
.
ENQUIRIES:
European Metals Holdings Limited
Keith Coughlan, Executive Chairman Tel: +61 (0) 419 996 333
Email: keith@europeanmet.com (mailto:keith@europeanmet.com)
Kiran Morzaria, Non-Executive Director Tel: +44 (0) 20 7440 0647
Shannon Robinson, Company Secretary Tel: +61 (0) 418 675 845
Email: shannon@europeanmet.com (mailto:shannon@europeanmet.com)
WH Ireland Ltd (Nomad & Broker)
James Joyce / Darshan Patel / Isaac Hooper Tel: +44 (0) 20 7220 1666
(Corporate Finance)
Harry Ansell (Broking)
Panmure Gordon (UK) Limited (Joint Broker)
John Prior Tel: +44 (0) 20 7886 2500
Hugh Rich
James Sinclair Ford
Harriette Johnson
Blytheweigh (Financial PR) Tel: +44 (0) 20 7138 3222
Tim Blythe
Megan Ray
Chapter 1 Advisors (Financial PR - Aus)
David Tasker Tel: +61 (0) 433 112 936
The information contained within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulation (EU) No.
596/2014 ("MAR") as it forms part of UK domestic law by virtue of the European
Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's
obligations under Article 17 of MAR.
The person who authorised for the release of this announcement on behalf of
the Company was Keith Coughlan, Executive Chairman.
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