Emmerson PLC Appointment of Liberum as Nominated Advisor (4066L)
03 Enero 2023 - 01:00AM
UK Regulatory
TIDMEML
RNS Number : 4066L
Emmerson PLC
03 January 2023
Emmerson PLC / Ticker: EML / Index: LSE / Sector: Mining
3 January 2023
Emmerson PLC ("Emmerson" or the "Company")
Appointment of Liberum as Nominated Advisor
Emmerson PLC, the Moroccan focused potash development company,
is pleased to announce the appointment of Liberum Capital as
Nominated Advisor to the Company with immediate effect.
Graham Clarke, CEO, commented:
"I am delighted to appoint Liberum Capital as Nominated Advisor,
having now worked with the team since they became joint broker to
Emmerson in February 2022. Liberum is a well-respected mid-tier
stockbroker with a strong mining franchise which will be the right
fit to take the Company into its next stage of construction and
first production."
**ENDS**
For further information, please visit www.emmersonplc.com ,
follow us on Twitter (@emmerson_plc), or contact:
Emmerson PLC
Graham Clarke / Jim Wynn / Charles Vaughan +44 (0) 20 7236 1177
Liberum Capital Limited (Nominated Advisor and Joint Broker)
Scott Mathieson / William King +44 (0)20 3100 2000
Shard Capital (Joint Broker)
Damon Heath / Isabella Pierre +44 (0)20 7186 9927
St Brides Partners (Financial PR/IR)
Susie Geliher / Charlotte Page +44 (0)20 7236 1177
Notes to Editors
Emmerson is focused on advancing the Khemisset project
("Khemisset" or the "Project") in Morocco into a low cost, high
margin supplier of potash, and the first primary producer on the
African continent. With an initial 19-year life of mine, the
development of Khemisset is expected to deliver long-term
investment and financial contributions to Morocco including the
creation of permanent employment, taxation, and a plethora of
ancillary benefits. As a UK-Moroccan partnership, the Company is
committed to bringing in significant international investment over
the life of the mine.
Morocco is widely recognised as one of the leading phosphate
producers globally, ranking second in the world in terms of tonnes
produced annually, and the development of this mine is set to
consolidate its position as the most important fertiliser producer
in Africa. The Project has a large JORC Resource Estimate (2012) of
537Mt @ 9.24% K2O, with significant exploration potential, and is
perfectly located to support the expected growth of African
fertiliser consumption whilst also being located on the doorstep of
European markets. The need to feed the world's rapidly increasing
population is driving demand for potash and Khemisset is well
placed to benefit from the opportunities this presents. The
Feasibility Study released in June 2020 indicated the Project has
the potential to be among the lowest capital cost development stage
potash projects in the world and also, as a result of its location,
one of the highest margin projects. This delivered outstanding
economics, including a post-tax NPV8 of approximately US$1.4
billion using industry expert Argus' price forecasts, and the spot
price for granular MOP fertiliser has since risen, further
enhancing the valuations.
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END
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