Gravelotte Mine Development Update
06/09/2023 07:00
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RNS Number : 4584L URA Holdings PLC 06 September 2023
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URA Holdings plc
("URA" or the "Company")
Gravelotte Emerald Mine Development Update
URA Holdings plc, exploration company with assets in both the Republic of
South Africa and Zambia whose shares are traded on the Main Market of the
London Stock Exchange, is pleased to announce an operational update for its
74% owned Gravelotte Emerald Mine ("GEM" or Gravelotte").
Highlights
· Significant progress has been made onsite at Gravelotte in
preparation of the phased restart of mining and processing operations.
· Order placed for the custom-made Optical Sorter following
completion of testwork:
o Visited Angelon Electronics Co Ltd ("Angelon") in China and conducted
Gravelotte emerald recovery testwork
o Optical sorter testwork conducted at Angelon was very successful and
achieved similar results and recovery rates to those previously achieved from
testwork conducted in Germany
o Angelon has custom designed the optical sorter based on the testwork
results and following the success of the testwork (see Figures 1 and 2)
o The quality of their machinery and components were also inspected and were
found to be of high quality
o The costs for a comparative optical sorter from Angelon are significantly
cheaper than from German manufacturers and the manufacturing lead time is a
quarter of the time
o An order has now been placed for the custom optical sorter from Angelon
· Phase 1 ready processing plant is more than 60% completed. A
primary crusher and primary sizing screen with associated conveyors and
dewatering pumps, are all in the process of being sourced, acquired and
installed into the current circuit (see Figure 3).
· A secure final grading facility to be incorporated into the final
plant design can now commence construction following receipt of final optical
sorter specifications and footprint post placement of the order.
· Trial mining and processing activities can potentially re-start
as soon as 6-8 months from now, subject to all to the upgrades and the
commissioning of the Phase 1 plant progressing on schedule.
Edward Nealon, Chairman of URA commented: "I am delighted to report that we
continue to make good progress with restarting emerald mining operations at
Gravelotte. We were impressed with the testwork results, quality, price and
delivery time of the Angelon optical sorted following our visit to their
facility in China and are happy to report that we have placed our order with
them. With our JORC (2012) resource estimate of 29 million carats of contained
emerald, and a further potential from exploration of between 167 and 344
million carats, Gravelotte can once again become a world leading emerald
producer'"
Enquiries:
URA Holdings plc +44 (0)746 368 6497
Chief Executive Officer
Bernard Olivier
Director
Peter Redmond
Chief Operating Officer
Jeremy Sturgess-Smith
info@uraholdingsplc.co.uk (about:blank)
Peterhouse Capital Limited +44 (0)20 7469 0930
Corporate Broker
Lucy Williams
Duncan Vasey
Additional Information
Angelon Electronics Co, Ltd was founded in 2001 and has been granted more than
20 patents in the image acquisition field. They are listed on the Chinese NEEQ
stock market, with a stock code 838092. Their machines have been exported to
companies in south-east Asia, USA, Canada, Brazil, Peru, Britain, France,
Spain, Turkey, Latvia, Czech Republic, South Korea, Japan, Guatemala, India,
Pakistan, Iran, Lebanon, Egypt, South Africa, Tunisia and Ethiopia. Their
website can be found at: https://www.angelon.com.cn
(https://www.angelon.com.cn)
Figure 1. Angelon Optical sorter
Figure 2. Angelon Optical sorter
Figure 3. Simplified Processing flowsheet for the Gravelotte Emerald Mine
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