URU Metals Limited Update on Mining Right Application (6505J)
15 Abril 2020 - 1:00AM
UK Regulatory
TIDMURU
RNS Number : 6505J
URU Metals Limited
15 April 2020
15 April 2020
URU Metals Limited
("URU" or "the Company")
Update on Mining Right Application
URU is pleased to announce that the Company continues to make
progress in advancing the Mining Right Application as announced on
the 11 December 2019. The Final Scoping Report ("FSR") has been
accepted and the approval to proceed with the Environmental Impact
Assessment ("EIA") phase has been granted.
The specialist studies related to the EIA phase were planned to
commence at the end of March 2020, but due to the Covid-19 lockdown
in South Africa the studies had to be postponed. The EIA phase will
commence as soon as the lockdown in South Africa is lifted, which
at this stage is expected to be the 30 April 2020. The focus of the
EIA phase will be to expand on the impacts and mitigation measures
identified in the scoping phase, and is expected to cost
GBP250,000.
The company has decided to prepare an extension request for the
EIA phase to be submitted to the Department of Mineral Resources
and Energy as soon as the lockdown in South Africa is lifted. The
extension request will be based on the delays caused by
Covid-19.
CEO of URU Metals, Mr John Zorbas, commented: "We are pleased
that another project milestone has been met on time and on budget
and that the team can proceed with the EIA phase. Even though the
Covid-19 outbreak has resulted in some delays to the project
timelines, the team are prepared and ready to immediately commence
with the EIA as soon as the South African lockdown is lifted."
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer) +1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat + 44 (0) 203 470 0470
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END
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