REG - Capital Limited - MSALABS Trading Update

CapitalAnnouncement

06/03/2023 07:00

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RNS Number : 9281R  Capital Limited  06 March 2023

FOR IMMEDIATE RELEASE

06 MARCH 2023

 

MSALABS Limited & Capital Limited

("MSALABS" & "Capital")

 

MSALABS Trading Update

MSALABS, a global provider of geochemical laboratory services for the
exploration and mining sectors and a majority-owned subsidiary of Capital, is
pleased to announce positive operational developments. The MSALABS team are
this week at the PDAC convention in Toronto, Canada, promoting their services.

The first few months of 2023 have seen MSALABS maintain its significant growth
momentum from 2022, with the delivery of a strong operational performance from
existing contracts, as well as the successful commissioning of a number of new
laboratories.

 

·      Prince George Chrysos Corporation ("Chrysos") PhotonAssay™
unit:  At Prince George we are deploying Western Canada's first
PhotonAssay™ unit in a commercial laboratory. This unit is now commissioned
and will begin processing samples from a broad range of customers in the
region;

·      Kibali Chrysos PhotonAssay™ unit commissioned: In January
MSALABS successfully commissioned the PhotonAssay™ unit at Barrick's Kibali
mine, DRC, the largest gold mine on the Africa continent.

 

Traditional business also continued to grow its footprint with the
commissioning of mine site and regional laboratories:

 

·      Singida mine site laboratory commissioned: MSALABS has now
commissioned a mine site laboratory at Shanta Gold's Singida mine in Tanzania
having been awarded a 3-year contract late last year;

·      Bougouni laboratory commissioned: MSALABS has commissioned the
laboratory in Bougouni, Mali which will support gold and lithium operations in
southern Mali. First samples from Leo Lithium's Goulamina operation are
expected within days;

·      Kazakhstan franchise partnership with Aurora Minerals Group
(Aurora): At PDAC MSALABS and Aurora will sign an agreement to provide
geochemistry services to the burgeoning Kazakhstan mining industry.

Capital will be announcing its FY22 results on 16 March along with MSALABS
revenue updates and guidance for 2023, which will include a conference call
and question and answer session.

Commenting on the trading update, Stuart Thomson, MSALABS CEO said

'MSALABS has got off to a very strong start in 2023, testament to the strong
demand we are seeing for our services but also the continued hard work of our
employees to deliver such impressive growth. Announcing, new labs across all
three of our major regions, further diversification of commodity mix and entry
into a new country is indicative of the increasing strength and robustness of
MSALABS.

In particular, the demand for Chrysos PhotonAssay™ is undeniable with a
multitude of major mining companies continuing to run trials and converting to
the revolutionary technology. In partnership with Chrysos, we are proud to be
bringing this technology to Western Canada with our new commercial laboratory
at Prince George where we can service the significant mining region.

We look forward to many strong years ahead of us as we further grow and
develop our global footprint, including the deployment of 21 Chrysos
PhotonAssay™ units by 2025."

 

- ENDS -

 

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

 

Capital Limited
 
+230 464 3250

Jamie Boyton, Executive Chairman
 
investor@capdrill.com

Peter Stokes, Chief Executive
Officer

Rick Robson, Chief Financial Officer

Conor Rowley, Investor Relations & Corporate Development Manager

 

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 Cleary

 

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, focusing on the African
markets. 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 Mauritius and it has
established operations in Canada, Côte d'Ivoire, Egypt, Guinea, Kenya, Mali,
Mauritania, Nigeria, Saudi Arabia, Sudan and Tanzania.

 

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