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RNS Number : 9772F Adriatic Metals PLC 10 November 2022
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
Project Update Video
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF), has produced an updated
project video on the ongoing construction and development of the Vares Silver
Project in Bosnia & Herzegovina.
To view the video, please look at our website:
https://www.adriaticmetals.com/news/project-update-november-2022/
(https://www.adriaticmetals.com/news/project-update-november-2022/)
**ends**
Authorised by, and for further information, please contact Paul Cronin,
Managing Director & CEO on info@adriaticmetals.com (about%3Ablank)
For further information please visit www.adriaticmetals.com
(http://www.adriaticmetals.com/) ; @AdriaticMetals
(https://twitter.com/AdriaticMetals) on Twitter; or contact:
Adriatic Metals PLC
Paul Cronin / Klara Kaczmarek Via Buchanan
Buchanan Tel: +44 (0) 20 7466 5000
Bobby Morse / Oonagh Reidy adriatic@buchanan.uk.com (mailto:adriatic@buchanan.uk.com)
Canaccord Genuity Limited (Joint Corporate Broker)
Jeremy Dunlop (Australia) Tel: +61 2 9263 2700
James Asensio (UK) Tel: +44 (0) 207 523 8000
RBC Capital Markets (Joint Corporate Broker)
James Agnew / Jamil Miah Tel: +44 (0) 20 7653 4000
Stifel Nicolaus Europe Limited (Joint Corporate Broker)
Ashton Clanfield / Callum Stewart Tel: +44 (0) 20 7710 7600
Citadel Magnus
Cameron Gilenko Tel: +61 2 8234 0100
ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base
metals developer that is advancing the world-class Vares Silver Project in
Bosnia & Herzegovina, as well as the Raska Project in Serbia.
The Vares Project is fully-funded to production, which is expected in Q3 2023.
The 2021 Project Definitive Feasibility Study boasts robust economics of
US$1,062 million post-tax NPV(8), 134% IRR and a capex of US$168 million.
Concurrent with ongoing construction activities, the Company continues to
explore across its highly prospective 42km(2) concession package.
There have been no material changes to the assumptions underpinning the
forecast financial information derived from the production target in the 19
August 2021 DFS announcement and these assumptions continue to apply and have
not materially changed. Adriatic Metals is not aware of any new information or
data that materially affects the information included in the announcement of
the updated Mineral Resource Estimate announced on 1 September 2020 and all
material assumptions and technical parameters underpinning the Mineral
Resource Estimate continue to apply and have not materially changed.
Market Abuse Regulation Disclosure
The information contained within this announcement is deemed by Adriatic (LEI:
549300OHAH2GL1DP0L61) to constitute inside information as stipulated under
Article 7 of the Market Abuse Regulation (EU) No 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as
amended ("UK Market Abuse Regulation").
The person responsible for arranging and authorising the release of this
announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.
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