REG - Tertiary Minerals - Storuman Fluorspar Project, Sweden

Tertiary MineralsAnnouncement

29/08/2024 17:30

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RNS Number : 2173C  Tertiary Minerals PLC  29 August 2024

 

29 August 2024

Tertiary Minerals plc ("Tertiary" or the "Company")

 

Storuman Fluorspar Project, Sweden

Further to the Company's announcement of 7 September 2023, the Company has
today been advised by the Swedish Mining Inspectorate that it has again
refused the Company's application for a mining concession on the Company's
legacy Storuman Fluorspar Project which was first submitted in July 2014.

The Company's Board will take time to review the basis of this decision with
its lawyers and decide on any further action at which point a further
announcement will be made.

Commenting today Patrick Cheetham, Executive Chairman of Tertiary Minerals plc
said:

"The original application for a mining concession at Storuman was made over
10-years ago. It was initially granted by the Mining Inspectorate, then the
grant was overturned by the Mining Inspectorate and then that refusal decision
was annulled by the Swedish Government on appeal and has now been refused
again. It is clear to the Company that the Swedish Government does not have a
viable mine permitting process.

"Fortunately, over time, the Company has moved on and this project risks
becoming a distraction for the Company which is now fully funded for an
exciting programme of copper exploration in Zambia and Nevada on multiple
projects and with strong joint venture partners."

 

Further Information:

 Tertiary Minerals plc:
 Patrick Cheetham, Executive Chairman  +44 (0) 1625 838 679
 SP Angel Corporate Finance LLP

 Nominated Adviser and Broker
 Richard Morrison                      +44 (0) 203 470 0470
 Caroline Rowe
 Peterhouse Capital Limited

 Joint Broker
 Lucy Williams                         + 44 (0) 207 469 0930
 Duncan Vasey

 

Market Abuse Regulation

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

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