REG-Marechale Capital Plc: Weardale Lithium Planning Permission Application Update

Marechale CapitalAnnouncement

05/02/2025 13:45

5 February 2025

Marechale Capital plc

(“Marechale” or the “Company”)

Weardale Lithium Planning Permission Application Update

Marechale Capital plc (AIM: MAC) an established City of London based corporate
finance house with a long-term track record and a strong reputation for
advising and financing high growth consumer brands, leisure, clean energy,
mineral extraction and technology companies, provides the following regarding
its investee company Weardale Lithium Limited (“Weardale”).

Following the issue of Durham City Council’s Committee Report on 28 January
2025 and the recommendation to approve Weardale’s application for the
development of its lithium extraction project, the Company is pleased to
announce that the planning permission application was approved at the planning
committee hearing held on 5 February 2025, subject to the conditions set out
in the officers Committee Report.

Weardale will now seek to advance the development of the site, with the pilot
stage of the  development expected to be completed in 18 to 24 months.
Weardale will continue to liaise with Durham City Council in regard to the
build out.

As noted in Weardale’s announcement of 30 April 2024, the facility will be
located on the brownfield, former cement works at Eastgate, near Stanhope, for
processing geothermal groundwater from existing deep, high specification,
production wells nearby. The facility will form part of a plan for
regeneration of the old works site, and once completed, it will be one of the
most advanced lithium extraction plants in Europe.  

The site has sufficient capacity in order to scale-up both lithium extraction
and processing, and has the potential to develop geothermal energy
infrastructure, green technologies and associated business opportunities. The
site may also be used to act as a regional centre for producing lithium from
multiple locations and sources, and as a hub for business connected with the
UK’s energy transition, Net Zero 2035 targets and sustainability.

The Company currently holds founder shares and options over ordinary shares in
Weardale, representing in aggregate approximately 8 per cent. of Weardale’s
share capital.

For further information please contact:

 Marechale Capital plc Mark Warde-Norbury / Patrick Booth-Clibborn           Tel: +44 (0)20 7628 5582  
 Cairn Financial Advisers LLP (Nomad and Broker) Jo Turner / Sandy Jamieson  Tel: +44 (0)20 7213 0880  

About Marechale Capital

Marechale is an established City of London based corporate finance house, with
a long-term track record and a strong reputation in advising & financing high
growth consumer brands, leisure, clean energy, and technology companies. The
Company uses its balance sheet to co-invest in its client companies, along
with warrants and founder equity, in order to create shareholder value.

Forward looking statement disclaimer

Certain statements made in this announcement are forward-looking statements.
These forward-looking statements are not historical facts but rather are based
on the Company's current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as 'anticipates,'
'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar
expressions are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject to known
and unknown risks, uncertainties, and other factors, some of which are beyond
the Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in the
forward-looking statements.

The Company cautions shareholders and prospective shareholder holders not to
place undue reliance on these forward-looking statements, which reflect the
view of the Company only as of the date of this announcement. The
forward-looking statements made in this announcement relate only to events as
of the date on which the statements are made. The Company will not undertake
any obligation to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or unanticipated
events occurring after the date of this announcement except as required by law
or by any appropriate regulatory authority.



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