TIDMCAPD
RNS Number : 2707F
Capital Limited
07 July 2023
MSALABS Limited & Capital Limited
("MSALABS" & "Capital")
MSALABS Trading Update
MSALABS, a global provider of geochemical laboratory services
for the exploration and mining sectors and a majority-owned
subsidiary of Capital, is pleased to announce positive operational
and financial developments.
-- MSALABS now has the largest international network of Chrysos PhotonAssay(TM) technology:
-- MSALABS' mixture of mine site and commercial laboratories
currently supports some of the largest mines in Africa as well as a
wide range of customers in key gold producing regions;
-- MSALABS' Chrysos PhotonAssay (TM) laboratory network is growing an international footprint:
o Central/East Africa (3 units) : Our first unit was deployed at
the Bulyanhulu Gold Mine (Tanzania) with Barrick Gold Corporation
("Barrick") which marked the first Chrysos PhotonAssay(TM) unit
outside of Australia. We have subsequently deployed a unit at
Barrick's Kibali Gold Mine (DRC), the largest gold mine in
Africa;
-- A Chrysos PhotonAssay(TM) laboratory is now under
construction in the Geita township (Tanzania) . This commercial
laboratory will be able to support numerous gold mines within the
Lake Victoria Goldfields.
o West Africa (4 units): MSALABS currently has a unit deployed
in Yamoussoukro (Ivory Coast);
-- We are continuing to increase our presence in West Africa
with the roll out of four additional units. We have a unit now
operational in our commercial laboratory in Obuasi (Ghana) with
further units to be deployed to new commercial laboratories in
Kankan (Guinea) and in Bamako (Mali) currently under
construction.
o Canada (3 units) : We first deployed a unit in Val d'Or
(Quebec) in early 2022 with the unit now close to full utilisation.
Subsequently we have deployed units in Timmins (Ontario) and Prince
George (British Columbia). All three units are now operational,
extending our footprint right across Canada.
-- MSALABS's is currently on track to roll out 21 Chrysos PhotonAssay(TM) units by 2025.
-- Traditional geochemistry business concurrently growing its international footprint:
-- While the rollout of Chrysos PhotonAssay (TM) technology will
account for the majority of the growth in revenues, we continue to
expand our traditional geochemical business in tandem;
-- This year MSALABS has commissioned a mine site laboratory at
Shanta Gold's Singida mine, Tanzania, a laboratory in Bougouni,
Mali and currently has a laboratory in Marsa Alam, Egypt under
construction.
-- MSALABS completes $10million equity raise to fund future growth :
-- In order to fund the expansion of the business, MSALABS has
completed a $10 million equity raise with funds coming from both
Capital and the minority shareholders. These funds will be used to
finance the construction of new laboratories to support the
continued rollout of both Chrysos PhotonAssay(TM) laboratories and
our traditional geochemistry business; and
-- Capital agreed to fund any shareholder not willing to
participate and as a result Capital's shareholding in MSALABS has
increased from 77.76% to 81.79%.
Commenting on the trading update, Stuart Thomson, MSALABS CEO
said
"We are proud to now have the largest international network of
PhotonAssay (TM) units, bringing this revolutionary technology to
both Africa and Canada in partnership with Chrysos. We look forward
to many strong years ahead of us as we further grow and develop our
global footprint, including the deployment of 21 Chrysos
PhotonAssay(TM) units by 2025.
The completion of our equity raise sets the business on strong
footing for the next wave of growth, alongside the continued
dedication of our employees."
- ENDS -
For further information, please visit Capital Limited's website
www.capdrill.com or contact:
Capital Limited +230 464 3250
Peter Stokes, Chief Executive Officer investor@capdrill.com
Rick Robson, Chief Financial Officer
Conor Rowley, Investor Relations & Corporate Development
Manager
Tamesis Partners LLP +44 20 3882 2868
Charlie Bendon
Richard Greenfield
Stifel Nicolaus Europe Limited +44 20 7710 7600
Ashton Clanfield
Callum Stewart
Rory Blundell
Buchanan +44 20 7466 5000
Bobby Morse capital@buchanan.uk.com
George Pope
About Capital Limited
Capital Limited is a leading mining services company providing a
complete range of drilling, mining, maintenance and geochemical
laboratory solutions to customers within the global minerals
industry, focusing on the African markets. The Company's services
include: exploration, delineation and production drilling; load and
haul services; maintenance; and geochemical analysis. The Group's
corporate headquarters are in Mauritius and it has established
operations in Canada, Côte d'Ivoire, Egypt, Guinea, Kenya, Mali,
Mauritania, Nigeria, Saudi Arabia, Sudan and Tanzania.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTMZGGNZVMGFZZ
(END) Dow Jones Newswires
July 07, 2023 02:00 ET (06:00 GMT)
Capital (LSE:CAPD)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Capital (LSE:CAPD)
Gráfica de Acción Histórica
De May 2023 a May 2024
