3 May 2024
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
MANAGEMENT UPDATE
Adriatic Metals
PLC (ASX: ADT, LSE:ADT1,
OTCQX:ADMLF)
announces the following management
changes.
As the Company transitions from
developer to a producing mining operation, Mike Norris, Chief
Financial Officer, has resigned to pursue other opportunities.
Michael Horner, Head of Business Development, has been appointed
interim-CFO. Michael joined Adriatic in 2022 and brings over 10
years of progressive mining industry experience across M&A,
capital markets, finance and operations.
Paul Cronin, AdriaticÕs Managing
Director and CEO, commented:
"On behalf of the Board I would like
to extend my gratitude to Mike Norris for his contributions to
Adriatic over the past two years and wish him well for his future
endeavours. Mike joined the team at the commencement of the
construction of the Vares Silver Operation, and through solid
fiscal discipline, successfully navigated that pivotal period to
bring the project to completion, largely on time and on budget,
despite substantial macro headwinds.
We welcome Michael Horner to the
role of interim-CFO. Michael brings considerable experience in
corporate finance and will lead Adriatic through its next phase as
a producer, working to lower our cost of capital, and execute on
new growth opportunities.
As the Company transitions to mining
owner operator over the coming months, the management team will
focus on increasing underground development, enhancing operational
efficiencies, and bringing the Operations to nameplate production
in Q4 2024.Ò
-ends-
MARKET ABUSE REGULATION
DISCLOSURE
The information contained within
this announcement is deemed by the Company (LEI:
549300OHAH2GL1DP0L61) to constitute inside information for the
purposes of Article 7 of the EU Market Abuse Regulation (EU) No
596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 as amended. The person
responsible for arranging and authorising the release of this
announcement on behalf of the Company is Paul Cronin, Managing
Director and CEO.
Authorised by Paul Cronin, Managing
Director & CEO
For further information please
visit: www.adriaticmetals.com;
email: info@adriaticmetals.com,
@AdriaticMetals
on Twitter; or contact:
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Adriatic Metals PLC
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Paul Cronin / Klara
Kaczmarek
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Via Buchanan
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Buchanan
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Tel: +44 (0) 20 7466 5000
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Bobby Morse / Oonagh
Reidy
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adriatic@buchanan.uk.com
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Morgans Corporate Limited
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Rob Douglas / Sam Warriner / Mitch
Duffy
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Tel: +61 7 3334 4888
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RBC
Capital Markets
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Farid Dadashev / James Agnew / Jamil
Miah
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Tel: +44 (0) 20 7653 4000
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Stifel Nicolaus Europe Limited
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Ashton Clanfield / Callum Stewart /
Varun Talwar
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Tel: +44 (0) 20 7710 7600
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Citadel Magnus
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Cameron Gilenko
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Tel: +61 2 8234 0100
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ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT,
LSE:ADT1, OTCQX:ADMLF) is a precious and base metals mining company
that is advancing the world-class Vares Silver Operation in Bosnia
& Herzegovina, as well as the Raska Zinc-Silver Project in
Serbia. First concentrate production took place in February 2024
and the Vares Silver Operation is fully funded to nameplate
production, which is expected in Q4 2024. Concurrent with ongoing
operational activities, the Company continues to explore across its
highly prospective 44km2 concession package.