URU Metals Limited Mining Right Application Update (6330K)
30 Agosto 2019 - 08:04AM
UK Regulatory
TIDMURU
RNS Number : 6330K
URU Metals Limited
30 August 2019
30 August 2019
URU Metals Limited
("URU" or "the Company")
Submission and Acceptance of Mining Right Application
URU is pleased to announce that the application for a Mining
Right submitted by the Company's South African subsidiary, Lesego
Platinum Uitloop (Pty) Ltd ("LPU"), over the three prospecting
rights that form the Zebediela Project has been accepted by the
South African Department of Mineral Resources ("DMR"). LPU is the
holder of the prospecting rights that form the Zebediela
Project.
The application was submitted by LPU over various portions of
the farms Uitloop 3 KS, Amatava 41 KS, Bloemhof 4 KS, and Piet
Potgietersrust Town and Townlands 44 KS, in the Mogalakwena local
and Waterberg district Municipalities of the Limpopo Province of
South Africa.
The DMR will now process the application, and the Company looks
forward to receiving the mining right in due course subject to the
satisfactory completion of all regulatory requirements by the
Company.
LPU is now required to:
- Embark on a public consultation process;
- Consult with the Department of Land Affairs for any
state-owned land and check for land claims and land restitution
claims;
- Submit, by no later than 4(th) October:
o Signed shareholder agreements
o Share certificates and shareholder registers;
o Articles and memorandum of association of the company;
o Provide detail in relation to the theoretical full funding of
the mine; and
o Any other agreement or document relating to the agreement;
- and commence with environmental studies in order to obtain the
requisite environmental authorisations that accompanies the Mining
Right.
The mining right will grant LPU the right to mine nickel and
platinum group minerals (PGM's), chromite, cobalt, copper, gold,
iron ore and vanadium for a period of 30 years.
Mr. John Zorbas, CEO of URU Metals, commented
"the acceptance of the mining right application by the DMR
significantly moves the project forward in three ways: by
consolidating the 3 prospecting rights that made up the Zebediela
Project into one right; securing the mineral tenure of the project
for a further 30 years and lastly, advances the project one step
closer towards development. We remain extremely excited by the
highly prospective Zebediela Project, and the acceptance of the
mining right application grants us the flexibility to develop the
existing nickel resource into a mine, and to continue developing
the newly discovered Ni-PGE resource found adjacent to and in the
footwall of the existing nickel resource."
Market Abuse Regulation (MAR) Disclosure
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DRLUKUARKWAWUUR
(END) Dow Jones Newswires
August 30, 2019 02:00 ET (06:00 GMT)
Grafico Azioni Uru Metals (LSE:URU)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Uru Metals (LSE:URU)
Storico
Da Mar 2023 a Mar 2024