REG - URA Holdings PLC - Delivery of Optical Sorter

URA HoldingsAnnouncement

31/01/2024 07:00

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RNS Number : 4057B  URA Holdings PLC  31 January 2024

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URA Holdings plc

("URA" or the "Company")

 

Operational Update

URA Holdings (LSE: URAH), the gemstone mining company focused on the imminent
production phase of the Gravelotte Emerald Mine ("GEM"), is pleased to
announce the arrival of its optical sorter at the GEM mine in South Africa.
This event marks an important step in the mine's transition to operational
status.

 

The state-of-the-art optical sorter, manufactured by Angelon Electronics Co
Ltd, and packaged and shipped, in two 40-foot containers, has successfully
arrived at site and is currently being offloaded.  URA is collaborating
closely with the technical team from Angelon who will travel to site to assist
with the final assembly checks and commissioning of the optical sorter.
Further updates will be provided as installation and commissioning proceeds.

 

 

Edward Nealon, Chairman of URA, commented: "We are pleased to announce that
the optical sorter has arrived on site at the Gravelotte Mine in South Africa.
Our team will now begin to assemble the optical sorter, its conveyor belts
systems, bins and other components before commissioning. We believe we are now
on track towards achieving first production within the next 2-3months."

Figure 1. First container with optical sorter and components arriving at site.

 

 

Figure 2. Lowbed trucks with containers getting ready for offloading at the
processing and sorting facility.

Figure 3. Main sorter unit offloaded in front of processing and sorting
facility.

The Directors of the Company take responsibility for this announcement.

 

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

 Joint Corporate Broker

 Lucy Williams

 Duncan Vasey

 Capital Plus Partners

 Joint Corporate Broker

 Keith Swann

 Jon                                                                                                                         +44 (0)203 821 6169
 Critchley

                                                                                                                             +44 (0)203 821 6168

 CMC Markets

 Joint Corporate Broker

 Douglas Crippen                                                                                                             +44 (0)20 3003 8632

About URA Holdings Plc

 

URA Holdings Plc is focusing on restarting the Gravelotte Emerald Mine, also
known as the Cobra Emerald Mine, located in the Limpopo Province of South
Africa.

Below is a summary highlighting its key aspects:

 

Historical Significance and Production:

Operational History: Active from 1929 to 2002, historically one of the world's
largest emerald mines.

Historical Production: Produced nearly 113 million carats of emeralds, making
a substantial contribution to the global emerald market.

 

Resource Estimates and Potential:

Maiden Mineral JORC Resource Estimate: URA Holdings established an independent
JORC Resource estimate of 29 million carats of contained emerald in two
open-pit deposits.

Additional JORC Exploration Targets: Identified 12 exploration targets, with
potential ranging between 168 million and 344 million carats.

 

Current Status and Plans:

Infrastructure and Readiness: The mine comes with existing infrastructure,
recently refurbished and upgraded in preparation for the restart of mining
operations.

Strategic Plans: URA aims to restart mining operations, utilizing modern
technologies and practices during H1 2024.

 

Market and Economic Considerations:

Global Emerald Market: Steady growth in demand for luxury goods, including
high-quality gemstones.

Demand: Increased interest in coloured gemstones, including emeralds and
sustainable, ethically sourced minerals.

 

For more information about URA Holdings Plc, including investor relations and
corporate news, please visit our website at www.uraholdingsplc.co.uk
(http://www.uraholdingsplc.co.uk) or follow us through our social media
channel:

X(formally known as Twitter): @ura_plc

 

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