CORCEL PLC — Regulatory Filings 2017

Mar 27, 2017

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RNS Number : 6665A

Regency Mines PLC

27 March 2017

REGENCY MINES PLC

("Regency" or the "Company")

Rosa Mine - Update

27 March 2017

Regency Mines Plc announces, further to the announcements of 27th February and 9th March 2017, progress at Carbon Minerals Corporation's Rosa metallurgical coal mine ("CMC" and "Rosa") located in Alabama, United States of America, in the Warrior Coal Basin. Regency owns 20% of CMC.

Key Highlights:

·     Over 6,000 tons of third party coal washed at Rosa preparation plant with first payment to CMC due end-month

·     A further amount of c6,000 tons arriving to site for washing; further contract for 5,000 to 10,000 tons per month under negotiation

·     Testing period and washability studies at preparation plant have enabled further improvements and part replacements

·     Highwaller contractor on site and ready to start coal operations

·     Mining license extension approved enabling submission of mining plan; CMC expects approval this week enabling mining to begin

Andrew Bell, Chairman of Regency Mines, comments: "Progress has continued, with necessary adjustments to the permits to enable use of a higher capacity drilling method creating only minor slippage in our timings. We expect sales and movements off site of mined coal in early April; we may achieve (but may just miss) our more ambitious target of first mined production by the end of March. This is a great milestone for us, and further announcements will be made as we bring the mine on stream".

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Andrew Bell 0207 747 9960                                                  Chairman Regency Mines Plc

Scott Kaintz 0207 747 9960                                                   Executive Director Regency Mines Plc

Roland Cornish/Rosalind Hill Abrahams 0207 628 3396    NOMAD Beaumont Cornish Limited

Jason Robertson 0129 351 7744                                           Broker Dowgate Capital Stockbrokers Ltd.

This information is provided by RNS

The company news service from the London Stock Exchange

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