Emmerson PLC Experienced Non-Executive Director Joins the Board (1023T)
23 Marzo 2021 - 1:00AM
UK Regulatory
TIDMEML
RNS Number : 1023T
Emmerson PLC
23 March 2021
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
23 March 2021
Emmerson Plc ("Emmerson" or the "Company")
Experienced Non-Executive Director Joins the Board
Emmerson plc, the Moroccan focused potash development company,
is pleased to announce the appointment of Mr James Kelly to the
board of directors, effective from 22 March 2021. Mr Kelly has
nearly 20 years of experience in the mining sector, particularly in
the areas of corporate finance and financing strategy.
About James Kelly
Prior to its merger with Glencore Plc, James was a senior member
of the business development team of Xstrata Plc. He went on to help
found the mining private equity company, Greenstone Resources LP,
which takes strategic equity positions in post exploration and
development stage assets in both OECD and Emerging Market
geographies. James is also founder and non-executive chairman of
Trident Royalties Plc, a rapidly growing, diversified mining
royalty and streaming company.
Graham Clarke, CEO, commented: "I would like to welcome James to
the Emmerson team and very much look forward to working with him.
We are particularly pleased to welcome James to the Board at this
time with Emmerson reaching an important stage, as it prepares for
the project financing. James has just the experience in mining
finance which will be very relevant to the options that the board
will be asked to assess in the coming months as we work to put the
funding in place to enable us to continue driving the project
forwards."
James Kelly, NED, commented: "I am delighted to be joining the
board of Emmerson. The quality of the Khemisset potash project is
apparent for all to see and I believe that it is well placed to
contribute new supply into a secular growth of demand for
fertilizer, especially in Africa. We know that a high quality and
dependable source of potash is a critical pillar in food security
which in turn has an outsized positive effect on the developing
world. I look forward to working with Graham and his team and
playing my part in bringing the project into production."
**ENDS**
For further information, please visit www.emmersonplc.com
, follow us on Twitter (@emmerson_plc), or contact:
Graham Clarke +44 (0) 20 7236
Edward McDermott Emmerson plc 1177
Jerry Keen
Toby Gibbs
John More Shore Capital +44 (0)20 7408 4090
Damon Heath +44 (0) 20 7628
Isabella Pierre Shard Capital 3396
St Brides Partners
Megan Denison Limited
Susie Geliher Financial PR/IR +44 (0)20 7236 1177
Notes to Editors
Emmerson's primary focus is on developing the Khemisset project
("Khemisset" or the "Project") located in Northern Morocco. The
Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24%
K(2) O and significant exploration potential with an accelerated
development pathway targeting a low capex, high margin mine.
Khemisset is perfectly located to capitalise on the expected growth
of African fertiliser consumption whilst also being located on the
doorstep of European markets. This unique positioning means the
Project will receive a premium netback price compared to existing
potash producers. The need to feed the world's rapidly increasing
population is driving demand for potash and Emmerson is well placed
to benefit from the opportunities this presents. The Feasibility
Study released in June 2020 indicated Khemisset 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 NPV(10) of approximately US$1.4 billion using
industry expert, Argus', price forecasts.
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END
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