ADRIATIC METALS PLC — Director's Dealing 2021

Feb 22, 2021

National Storage Mechanism | Additional information

RNS Number : 9196P

Adriatic Metals PLC

22 February 2021

Adriatic Metals PLC 

("Adriatic Metals" or the "Company")

(ASX:ADT, LSE:ADT1)

DIRECTOR/PDMR SHARE DEALING

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Peter Bilbe

2

Reason for the notification

a)

Position/status

Non-Executive Director

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Adriatic Metals PLC

b)

LEI

549300OHAH2GL1DP0L61

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Adriatic Metals PLC CHESS Depositary Interests (ordinary shares)

ISIN: AU0000004772

b)

Nature of the transaction

Sale of ordinary shares

c)

Price(s) and volume(s)

Price(s)	Volume(s)
AUD 2.18	150,000

d)

Aggregated information

-   Aggregated volume

-      Price

150,000

AUD 327,000

e)

Date of the transaction

22 February 2021

f)

Place of the transaction

Australian Securities Exchange

** ENDS **

MARKET ABUSE REGULATION DISCLOSURE

The information contained within this announcement is deemed by the Company (LEI: 549300OHAH2GL1DP0L61) to constitute inside ‎information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person ‎responsible for arranging and authorising the release of this announcement on behalf of the Company is Paul Cronin, Managing Director and CEO.

For further information please visit  www.adriaticmetals.com,  @AdriaticMetals on Twitter, or contact:

Adriatic Metals PLC
Paul Cronin / Emma Chetwynd Stapylton	Tel: +44 (0) 203 950 9138
Tavistock Communications Limited
Charles Vivian	Tel: +44 (0) 7977 297903
Edward Lee	Tel:  +44 (0) 7736 220565
Gareth Tredway	Tel: +44 (0) 7785 974264
The Capital Network
Julia Maguire/Lelde Smits	Tel: +61 2 8999 3699

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals explorer and developer that owns the world-class Vares Silver Project in Bosnia & Herzegovina and holds licences across the Raska District in Serbia.

The Vares project's captivating economics and impressive resource inventory have attracted Adriatic's highly experienced team, which is expediting exploration efforts to expand the current JORC resource. Results of a recent pre-feasibility study announced on 15 October 2020 indicate a post-tax NPV8 of US$1,040 million and IRR of 113%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production with significant cornerstone investment of US$28 million from Queen's Road Capital Investment and European Bank for Reconstruction and Development.

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 announcement and these assumptions continue to apply. There have been no material changes to the assumptions and technical parameters on the updated Mineral Resource Estimate announced on 1 September 2020 and these assumptions continue to apply.

Adriatic Metals acquired TSX-listed Tethyan Resource Corp in 2020, to advance the former Kizevak and Sastavci polymetallic mines in the Raska District, southern Serbia.

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