Kennedy Ventures PLC Investee Company Operational Update (0220V)
2017年1月25日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMKENV
RNS Number : 0220V
Kennedy Ventures PLC
25 January 2017
25 January 2017
Kennedy Ventures plc
Investee Company Operational Update
Kennedy Ventures plc ("Kennedy Ventures" or "the Company"), the
AIM quoted investment company, who through its stake in African
Tantalum (Pty) Limited ("Aftan") has an interest in the Tantalite
Valley Mine ("TVM") in Namibia, provides an update of Aftan's
progress at its TVM.
Tantalite Valley Mine progress
Following the plant upgrade during Q4 2016, Aftan has informed
the Company that ramp up continued in early January post the
customary and scheduled 16 day mine shutdown over the December and
New Year holiday period, an event common to mines in Namibia and
South Africa. In addition to reviewing Aftan's operations, Larry
Johnson, who has only recently been appointed CEO of Kennedy
Ventures, has provided Aftan with guidance around further plant
processing optimisation, as well as reviewing existing commercial
contracts to ensure Aftan receives optimal revenues from the
TVM.
Since the New Year, Aftan has advised that mining has continued
as planned, with stockpiles increasing in line with increased
volumes of ore moved. Improved mining face availability and
flexibility in ore sourcing is providing for improved access to
high grade ore; a direct result of consistent blasting and the
generation of new adits in line with the mine plan under the new
explosive programme. However, in mid-January, water retention
through the new plant was highlighted as below the level needed to
meet the upgraded specifications and Aftan identified the plant
water management system as requiring additional controls to
minimise water loss. As part of this improvement, upgrades to
pumping systems and water storage facilities will be implemented
during the month of February and Aftan has advised the Company that
that the thickener which is an integral part of the water
management system has arrived on site and will be installed over
the next 10 days.
In line with these improvements taking place, Aftan has delayed
the installation of the new milling circuit which is now expected
to be installed in March, at which point the fines recovery circuit
will be completed and coupled to the existing circuit. This will
enable the recovery of the fine tantalite and production is
expected to rapidly build up to previously forecast production
levels. Production of tantalite continues throughout this
process.
Further improvements anticipated
As part of the ongoing review, Mr. Johnson will seek to assist
Aftan to introduce further efficiencies at the mine to ensure
stockpile levels are maintained and old stockpiles are incorporated
into the mine plan, creating an additional economic source of
tonnage.
The focus of the Company and Aftan remains to deliver strong
cash margins and to extract the significant value from the mine and
exploration ground. Accordingly, Mr Johnson is assisting Aftan with
a review of staffing levels, procurement functions, stock control
and general management in line with the ongoing plant upgrade, to
ensure the mine delivers maximum productivity and profitability at
the higher output levels.
Furthermore, following Larry's appointment and given his
knowledge of tantalum pricing, a review of Aftan's offtake
arrangements was deemed necessary. Aftan is currently in several
discussions with some of the largest users of tantalum in the world
and has consequently withdrawn the 1.6 tonnes of assayed and
quality approved tantalite concentrate that was produced in
December 2016 from the bonded warehouse where it was delivered to
Aftan's offtake partner but not paid for, without penalty and as
permitted by the offtake contract, until improved terms are agreed
or new potential offtake agreements are finalised. This will result
in a delay in Aftan receiving revenues from the sale of the
tantalum it has produced. In this respect, Aftan has scheduled an
onsite visit for 15 and 16 February by one of the largest tantalum
consumers in the world. The end result of this process, as well as
the necessary plant improvements, is expected to be continuous
operations at the higher rate, generating improved sales and cash
generation.
Lithium developments
Aftan's lithium programme is proceeding well, with the
Lepidolite sampling programme nearing completion. A JORC/SAMREC ore
resource is expected to be announced in Q2 this year. The test work
programme is underway and proceeding as planned at SGS Johannesburg
with first results received and an initial plant design being
scoped.
Addition corporate opportunities
The addition of Mr. Johnson as CEO, brings potential new revenue
generation streams and investment opportunities. The Company is
currently exploring new opportunities which could include investing
in new purchasing and supply chains for tantalite and other
speciality minerals in Africa and globally.
Larry F. Johnson, CEO of Kennedy Ventures said:
"Since my appointment I have spent a considerable amount of time
at the TVM reviewing Aftan's procedures and the progress of its
plant upgrade. I am pleased with the progress of their mining
operation as we see increased movement of ore under the new
explosives programme and consequently growing stockpiles. I am also
particularly excited about Aftan's potential to generate strong
cash margins and provide for a potential entrance into the lithium
market, subject to the results of our ongoing geological and
metallurgical studies. As part of the upgrade, further improvements
to the plant water management system have been identified to ensure
optimal recovery of fine tantalite. Consequently, Aftan has
postponed the installation of the new milling circuit for the
recovery of fine tantalite until the improvements have been
incorporated. Importantly, this will allow for the completion of
the construction of the fines plant without disruption in the
coming months and ultimately ensure Aftan achieves its higher
throughput target of 15,000 tonnes per month, higher production
output and sells additional higher grade tantalite to its offtake
partner. Aftan has informed us that it still expects to be
operating at these higher levels by the end of Q2 2017.
I am highly excited about TVM and its licence prospectively,
particularly the lithium potential where Aftan expects to have
established a resource in Q2 2017. Further afield, we see Aftan
creating additional potential value for the Company through
investing in purchasing and supply chains in tantalite and other
speciality minerals across Africa, and globally, and we are
conducting detailed analysis into this presently."
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information on the Company, visit:
www.kvplc.com:
Kennedy Ventures plc
Larry Johnson (CEO), c/o Tel: +44 (0)203 757
Camarco 4983
Grant Thornton UK LLP (Nominated Tel: +44 (0)20 7383
Adviser) 5100
Colin Aaronson
Richard Tonthat
Daniel Bush
Shore Capital (Broker) Tel: +44 (0) 207
Mark Percy / Toby Gibbs 408 4090
(corporate finance)
Jerry Keen (corporate broking)
Camarco (PR) Tel: +44 (0) 203
Gordon Poole / Billy Clegg 757 4980
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDFZLLLDFFEBBV
(END) Dow Jones Newswires
January 25, 2017 02:00 ET (07:00 GMT)
Kazera Global (LSE:KZG)
過去 株価チャート
から 6 2024 まで 7 2024
Kazera Global (LSE:KZG)
過去 株価チャート
から 7 2023 まで 7 2024