Polo Resources Limited Celamin Holdings Ltd - Investment Update (6492V)
09 Abril 2019 - 7:07AM
UK Regulatory
TIDMPOL
RNS Number : 6492V
Polo Resources Limited
09 April 2019
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014 and has
been announced in accordance with the Company's obligations under
Article 17 of that Regulation.
9 April 2019
Polo Resources Limited
("Polo" or the "Company")
CELAMIN HOLDINGS LTD - INVESTMENT UPDATE
Polo Resources Limited (AIM: POL), the multi-sector investment
company with interests in oil, gold, coal, copper, phosphate,
lithium, iron and vanadium, hereby presents a presentation
published by its 18.40% investee company Celamin Holdings Limited
("Celamin") (ASX: CNL).
https://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=CNL&timeframe=D&period=W
The presentation includes the legal matters in relation to the
fraudulent transfer to Tunisian Mining ("TMS") Services of
Celamin's 51% interest in Chaketma Phosphates SARL ("CPSA"), the
operating company that holds the Chaketma phosphate permit. Celamin
has received confirmation that the Court of Appeal of Tunis has
issued orders enforcing both the interim and final arbitration
decision, ordering, amongst other matters, the return of Celamin's
interest in Chaketma and payment of over US$4m in damages and costs
plus interest. The presentation also includes the potential
application of exciting new processing technology and also details
regarding the Zinc and Lead prospects.
Following enforcement allowing Celamin to recover control of the
Chaketma Phosphate Project Celamin plans to:
-- Introduce an international partner to facilitate funding discussions;
-- Commence a feasibility study to determine the viability of
producing either rock phosphate or chemical fertiliser
Celamin is contemplating two development options all in the
backdrop of a rising Rock Phosphate price:
Rock Phosphate Export Mine
-- Significant work already confirms potential for simple rock export operation.
-- 2012 Scoping Study13 to be updated with revised metallurgy from 2014 test work14.
PyroPhosTM Process Route
-- Integrated chemical fertilizer project producing lowest quartile DAP.
-- Minimal water use.
-- Saleable inert waste product Scoping Study to be completed.
The full details of theses announcement can be found at
http://www.celaminnl.com.au/.
For further information, please contact:
Polo Resources Limited
- Kudzayi Denenga, Investor Relations +27 (0) 787 312 919
Allenby Capital Limited (Nominated
adviser & broker)
- John Depasquale +44 (0)20 3328 5657
Blytheweigh (Public relations)
- Julia Tilley, Fergus Cowan +44 (0) 207 138 3204
About the Company
Polo Resources Limited is a multi-sector investment company
focused on investing in undervalued companies and projects with
strong fundamentals and attractive growth prospects. For complete
details on Polo, please refer to: www.poloresources.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDUGUWUCUPBGPB
(END) Dow Jones Newswires
April 09, 2019 08:07 ET (12:07 GMT)
Polo Resources (LSE:POL)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Polo Resources (LSE:POL)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024