Unicorn Mineral Res. - Board and Management Update
Unicorn Mineral Resources Plc
("Unicorn", or "the Company")
Board and Management Update
Unicorn Mineral Resources Plc (LSE: UMR), the mineral exploration and development company focused on zinc, lead, copper and silver, is pleased to provide an update on the Company's Board and executive management structure as it progresses its activities in Namibia and prepares for the next phase of development at the Klein Aub Copper Mine in Namibia ("Klein Aub").
Following the signing of the definitive documentation relating to the acquisition of a controlling interest in Klein Aub, the Company has commenced a process to strengthen its senior executive and operational management capability.
The Board considers that the transition to an operational phase in Namibia requires an experienced management team with a strong track record in the region and, in particular, in copper mining, processing and project development.
Board Change
Antony Legge has returned to his Non-Executive Director responsibilities following the signing of the Klein Aub transaction.
Antony has played an important role in supporting the Company through its recent corporate and strategic development and the Board expects to continue to benefit from his corporate, capital markets and listed-company experience in a non-executive capacity.
Senior Executive Appointments
The Board has commenced a process to identify and appoint additional senior leadership at both Board level and operationally in Namibia.
The appointments are intended to establish a management structure with the appropriate technical, operational and regional expertise to support the Company as it moves from the acquisition and evaluation phase into the development and operational phases of the Klein Aub project.
The Board is accelerating this process with a view to making the appropriate appointments as soon as practicable, enabling the Company to commence its planned in-country activities at Klein Aub.
Commenting on the changes, Patrick Doherty, Chairman of Unicorn, said:
"The Company is entering an important new phase in its development. The progression of the Klein Aub transaction provides Unicorn with the opportunity to build a platform to establish a meaningful operational presence in Namibia from which to develop a revenue base.
As we move towards this next phase, it is important that we have the right executive, non-executive and operational capabilities in place. We are therefore actively seeking to strengthen the team at Board level as well as identifying individuals with the relevant experience of operating in Southern Africa and, specifically, in copper mining and processing.
I would like to thank Antony for his work to date in progressing our strategy in Africa. We are pleased that he will continue to support Unicorn during this transition.
We look forward to announcing further appointments in due course as we build the management team required to take Klein Aub forward."
Klein Aub Copper Mine
Klein Aub is a historic copper mining operation located in Namibia, approximately 90 kilometres south of Windhoek. The project includes the historic mine workings together with substantial quantities of tailings and slimes. UMR has previously reported encouraging metallurgical test results and has been investigating the use of advanced leaching and processing technology with industry leading experts to recover copper from these materials.
The Company believes that establishing an experienced in-country management and operational team will be an important step in progressing the project and evaluating the potential for the commencement of mining and processing activities.
The Company will provide further updates on the appointment of senior executives and the development of its Namibian operations in due course.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
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For further information, please visit www.UnicornMineralResources.com or contact:
Unicorn Mineral Resources Plc
John O'Connor, CFO
Tel: +353 86 259 5123
Email: John.OConnor@UMR.ie
AlbR Capital Limited
Financial Adviser and Broker
David Coffman / Daniel Harris
Colin Rowbury
Tel: +44 (0)20 7469 0930
focusIR
Katrina Perez
Tel: +44 7881 622830
Email: UMR@focusir.com
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