REG - Dekel Agri-Vision - Cashew Operation Update

Dekel Agri-VisionAnnouncement

28/07/2022 07:16

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RNS Number : 0533U  Dekel Agri-Vision PLC  28 July 2022

 

Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers

 

Dekel Agri-Vision Plc ('Dekel' or the 'Company')

Cashew Operation Update

 

Dekel Agri-Vision Plc (AIM: DKL), the West African agriculture company focused
on building a portfolio of sustainable and diversified projects, is pleased to
provide an update on the ramp-up of production of our large-scale cashew
processing plant at Tiebissou, Côte d'Ivoire (the 'Cashew Operation').

 

·      Further to the Company's announcement on 13 June 2022, the colour
sorter which arrived at Abidjan port on 12 June 2022 is now fully installed.
Commissioning has commenced which should lead to a significant increase in
daily production in the coming weeks

·      The shelling machines arrived at Abidjan port on 26 July 2022 and
once installed and commissioned we have the capacity to reach our goal of
processing 10,000tn of raw cashew nuts ('RCN') in 2023

·      In addition to the 2,000tn of RCN on hand at 31 December 2021, we
have purchased a further 1,200tn of RCN to provide feedstock for the Cashew
Operation for the remainder of 2022

·      The Cashew Operation is running smoothly and is well-positioned
to deliver positive operating cash flow from Q4 2022 onwards

 

Lincoln Moore, Dekel's Executive Director, said: "The Cashew Operation has
advanced considerably over the past 6 weeks and is set to deliver both
operational cash flow in Q4 2022 onwards and a material increase in Group
revenue and profitability in 2023, the first full year of cashew production."

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

** ENDS **

 

For further information please visit the Company's website
www.dekelagrivision.com or contact:

 

 Dekel Agri-Vision Plc                     +44 (0) 207 236 1177

 Youval Rasin

 Shai Kol

 Lincoln Moore

 WH Ireland Ltd (Nomad and Joint Broker)   +44 (0) 20 7220 1666

 James Joyce / Ben Good

 Optiva Securities Limited (Joint Broker)  +44 (0) 203 137 1903

 Christian Dennis / Daniel Ingram

Notes:

Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture company
focused on West Africa.  It has a portfolio of projects in Côte d'Ivoire at
various stages of development: a fully operational palm oil project in
Ayenouan where fruit produced by local smallholders is processed at the
Company's 60,000tpa capacity crude palm oil mill and a cashew processing
project in Tiebissou, which commenced production in early January 2022.

 

 

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