EENERGY GROUP PLC — Regulatory Filings 2014

Mar 6, 2014

National Storage Mechanism | Additional information

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RNS Number : 7226B

Alexander Mining PLC

06 March 2014

6 March 2014

Alexander Mining plc

('Alexander' or the 'Company')

Business Update

Alexander is pleased to provide this business update further to its announcement of 3 February 2014 regarding the conditional licence, consultancy and financing agreements (the 'Agreement') signed with the Ebullio Group ('Ebullio').

The focus has been on technical testwork on the bulk sample material now at the premises of independent firm Simulus Engineers Laboratories in Perth, West Australia, provided from the Sivas copper, Tufanbeyli and Hakkari zinc properties in Turkey.  The properties form part of the assets of Red Crescent Resources Limited ('RCR') and its subsidiaries, a Toronto and Frankfurt listed specialist mining group with significant base metals assets in Turkey (the 'RCR Assets') which the Ebullio Group has entered into a conditional agreement to acquire.

In advance of the completion of Ebullio's proposed acquisition of the RCR Assets, on or about 26 March 2014, and in readiness for the planned pilot plant programmes, Alexander's technical team has been working on the copper and zinc oxide samples, viz:

·    Sample characterisation, including head assays, mineralogical characterisation and sample preparation;

·    bench scale optimising of the leaching and curing parameters;

·    solvent extraction trials and optimisation of extractant concentrations;

·    characterisation of pregnant liquor solutions; and

·    is currently assessing  particle size effects on leaching kinetics.

The zinc properties sample results to date have been excellent and recoveries are consistent with the Company's expectations and previous testwork on other zinc oxide samples.  In addition, the Sivas copper recoveries have been high and show the samples are amenable to the AmmLeach® low cost heap leach process.

In addition, per the Agreement, the Company has received the £100,000 non-refundable payment payable upon signing, and the non-refundable payment of £300,000, apportioned to a signing bonus.

ENDS

For further information please contact: 

Martin Rosser                                                  Matt Sutcliffe

Chief Executive Officer                                   Executive Chairman

Mobile: + 44 (0) 7770 865 341                        Mobile: +44 (0) 7887 930 758

Alexander Mining plc

1st Floor

35 Piccadilly

London

W1J 0DW

Tel:           +44 (0) 20 7292 1300

Fax:          +44 (0) 20 7292 1313

Email:       [email protected]

Website:   www.alexandermining.com

Nominated Adviser and Broker Northland Capital Partners Limited Louis Castro / Lauren Kettle +44 (0) 20 7382 1100

Public/Media Relations

Britton Financial PR

Tim Blackstone

+44 (0) 20 7242 9786

This information is provided by RNS

The company news service from the London Stock Exchange

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