Kennedy Ventures PLC Operational Update (8138U)
2015年8月3日 - 3:00PM
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RNS Number : 8138U
Kennedy Ventures PLC
03 August 2015
03 August 2015
Kennedy Ventures plc
("Kennedy Ventures" or the "Company")
Operational Update
Kennedy Ventures, which is focused on tantalite production in
Namibia through its 75% holding in African Tantalum (Pty) Limited
("Aftan"), is pleased to provide an update to its shareholders of
operational milestones ahead of first delivery of production from
Aftan to its offtake partner, a leading manufacturer, which is on
track for the beginning of Q4 2015.
Key milestones:
-- The re-commissioning of the power supply and front end of the mine, scheduled for Q3 2015
-- The modification and re-commissioning of the gravity separation plant, scheduled for Q3 2015
-- The resumption of mining activities scheduled for Q3 2015
-- First delivery of production to the offtake partner scheduled for the beginning of Q4 2015
The re-commissioning of the power supply and front end of the
mine has commenced. The Company is making good progress and is
expected to complete mid Q3 2015. Following this the modification
and re-commissioning of the gravity separation plant, which the
Company has found to be in sound condition, will begin. The
resumption of mining activities is predicated on the above work
streams completing on time and at this stage, first delivery of
production to the offtake partner is on track for the beginning of
Q4 2015.
Phased development programme
It is anticipated that the first phase of production, commencing
in Q3 2015, will see a build-up of throughput at the course
recovery plant to treat up to 10,500 tonnes per month; estimated to
produce around 5,000lbs Ta205 per month. The second phase of the
development programme would focus on fines recovery which should
increase throughput to around 15,000 tonnes per month and output of
9,200lbs Ta205 per month by mid-2017. The Directors expect that the
costs of production will be amongst the lowest in the industry. An
independent study has confirmed the estimated resource of 843,000t
grading 490ppm Ta2O5.
Peter Hibberd, CEO of Kennedy Ventures commented:
"It is a busy time for the Company and we continue to make
excellent progress as we work towards bringing the Tantalite Valley
Mine back into production. With a clear timeline to production
outlined, we are confident of delivering this project on time and
to budget and look forward to updating shareholders as further
progress is made."
ENDS
For further information, please contact:
Kennedy Ventures plc 020 3757 4983
Peter Hibberd c/o Billy Clegg
Cenkos Securities (Nominated
Adviser and Joint Broker) 0131 220 6939
Derrick Lee / Nick Tulloch
Shore Capital (Joint Broker) 020 7408 4090
Mark Percy / Toby Gibbs (corporate
finance)
Jerry Keen (corporate broking)
Peterhouse Corporate Finance
(Joint Broker)
Duncan Vasey 020 7469 0935
Camarco
Billy Clegg / Georgia Mann /
Tom Huddart 020 3757 6983
Notes to editors
Tantalite concentrates form the vast majority of feedstock for
all tantalum products. As such they are critical and unreplaceable
parts of a wide range of modern electronics including computers,
tablets, mobile phones, motor components and video game
systems.
Aside from electronics, tantalum has significant usage in super
alloys, specialised steels, corrosion resistant equipment and
medicine.
Tantalum's applications are based on its unique physio -
chemical properties. The oxides and metal have extremely high
melting points, high heat conductivity and strong resistance to
corrosive environments. Combined, these factors have entrenched its
international demand and made it an important component of numerous
research projects and new technologies.
Trade pricing is following tantalum markets as per Asian Metals
and Metal Pages.
In August 2012, the US Securities and Exchange Commission
adopted a rule mandated by the Dodd-Frank Wall Street Reform and
Consumer Protection Act to require companies reporting to the SEC
to publicly disclose the origins of the tantalum they buy in order
to restrict the use of conflict minerals that originated in the
Democratic Republic of the Congo or an adjoining country. As a
result, users of tantalum are encouraged to demonstrate that their
supply chain is transparent to ensure that conflict-free tantalum
is procured.
It is intended that the tantalum produced by Aftan will be
conflict-free.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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