REG - URA Holdings PLC - Gravelotte Emerald Mine Development Update

URA HoldingsAnnouncement

20/12/2023 07:00

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RNS Number : 2967X  URA Holdings PLC  20 December 2023

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URA Holdings plc

("URA" or the "Company")

 

Gravelotte Emerald Mine Development Update

URA Holdings plc, the emerald and strategic minerals company with assets in
both the Republic of South Africa and Zambia whose shares are traded on the
Standard List of the London Stock Exchange, is pleased to announce an
operational update for its Gravelotte Emerald Mine ("GEM" or Gravelotte").

Highlights

·      Custom-made Optical Sorter manufactured by Angelon Electronics Co
Ltd ("Angelon") in China has been completed and final payments have been made

·      Optical Sorter has now been shipped and is expected to arrive at
the port in South Africa in mid to late January 2024

·    Once the Optical Sorter has arrived on site Angelon will send a crew
to site from China for assembly and commissioning

·      Phase 1 ready processing plant is more than 65% completed and
awaiting the arrival of the Optical Sorter. A primary crusher and primary
sizing screen with associated conveyors and dewatering pumps, are all in the
process of being procured and installed into the current circuit.

·      Trial mining and processing activities can potentially  re-start
within a short period of  months from now, subject to all to the upgrades and
the commissioning of the Phase 1 plant continuing to progress on schedule.

 

 

Edward Nealon, Chairman of URA commented: "I am extremely pleased to say that
URA is now on its planned run-in to commence production. The emerald resource
is a sizeable and exciting one and we are confident of getting started and
proving its value. It is disappointing that market conditions forced us to
raise the necessary funds at a price well below the levels at which it was
trading earlier in the year but this round of finance does, as I have said,
enable us to take the Company to a position where its potential value can
begin to be realised"

 

 

 

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

 

 

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