For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230103:nRSC4066La&default-theme=true
RNS Number : 4066L Emmerson PLC 03 January 2023
Emmerson PLC / Ticker: EML / Index: LSE / Sector: Mining
3 January 2023
Emmerson PLC ("Emmerson" or the "Company")
Appointment of Liberum as Nominated Advisor
Emmerson PLC, the Moroccan focused potash development company, is pleased to
announce the appointment of Liberum Capital as Nominated Advisor to the
Company with immediate effect.
Graham Clarke, CEO, commented:
"I am delighted to appoint Liberum Capital as Nominated Advisor, having now
worked with the team since they became joint broker to Emmerson in February
2022. Liberum is a well-respected mid-tier stockbroker with a strong mining
franchise which will be the right fit to take the Company into its next stage
of construction and first production."
**ENDS**
For further information, please visit www.emmersonplc.com
(http://www.emmersonplc.com/) , follow us on Twitter (@emmerson_plc), or
contact:
Emmerson PLC +44 (0) 20 7236 1177
Graham Clarke / Jim Wynn / Charles Vaughan
Liberum Capital Limited (Nominated Advisor and Joint Broker) +44 (0)20 3100 2000
Scott Mathieson / William King
Shard Capital (Joint Broker) +44 (0)20 7186 9927
Damon Heath / Isabella Pierre
St Brides Partners (Financial PR/IR) +44 (0)20 7236 1177
Susie Geliher / Charlotte Page
Notes to Editors
Emmerson is focused on advancing the Khemisset project ("Khemisset" or the
"Project") in Morocco into a low cost, high margin supplier of potash, and the
first primary producer on the African continent. With an initial 19-year
life of mine, the development of Khemisset is expected to deliver long-term
investment and financial contributions to Morocco including the creation of
permanent employment, taxation, and a plethora of ancillary benefits. As a
UK-Moroccan partnership, the Company is committed to bringing in significant
international investment over the life of the mine.
Morocco is widely recognised as one of the leading phosphate producers
globally, ranking second in the world in terms of tonnes produced annually,
and the development of this mine is set to consolidate its position as the
most important fertiliser producer in Africa. The Project has a large JORC
Resource Estimate (2012) of 537Mt @ 9.24% K2O, with significant exploration
potential, and is perfectly located to support the expected growth of African
fertiliser consumption whilst also being located on the doorstep of European
markets. The need to feed the world's rapidly increasing population is driving
demand for potash and Khemisset is well placed to benefit from the
opportunities this presents. The Feasibility Study released in June 2020
indicated the Project has the potential to be among the lowest capital cost
development stage potash projects in the world and also, as a result of its
location, one of the highest margin projects. This delivered outstanding
economics, including a post-tax NPV8 of approximately US$1.4 billion using
industry expert Argus' price forecasts, and the spot price for granular MOP
fertiliser has since risen, further enhancing the valuations.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END APPVLLFBXFLEBBB