Marula Mining Plc - Additional New Equipment Arrives at Blesberg

 

Marula Mining PLC

 

 (“Marula’’ or the “Company”)

8 August 2023

 

 Additional New Equipment Arrives at Blesberg

 

Marula Mining (AQSE: MARU) an African focused mining and development company, is pleased to announce that additional new mobile mining equipment has arrived at the Blesberg Lithium and Tantalum Mine in South Africa (“Blesberg” or the “Project”) and has commenced operations and is to assist with exploration trenching and drilling work.

 

The equipment, which has been secured for approximately ZAR10 million (approx. US$0.54M) through Q Global Commodities Group’s (“Q Global”) existing relationship with one of its principal equipment suppliers, Bell Equipment Limited, is on standard hire purchase arrangements and further increases the existing 1,000 tonnes daily capacity of the existing mining fleet at Blesberg.

 

Highlights:

• Marula has received new mobile mining equipment secured from Bell Equipment Limited through its partnership with Q Global, one of South Africa’s leading independent commodity, mining, logistics and investment funds
• The new mining equipment includes a JCB 456ZX wheel loader and a JCB JS305 tracked excavator which are in addition to the Kobelco SK380XDLC excavator, a JCB 3CX backhoe loader, two new JCB 456ZX wheel loaders, and two new Bell B25E articulated dump trucks which arrived on site in Q2 2023
• The new equipment will further increase the mining capacity at Blesberg above the current approx. 1,000 tonnes of material moved daily
• The new equipment is being used to finalise the preparation of drill pads for the upcoming resource drilling program at Blesberg, to complete a number of additional exploration trenches to confirm extensions to the existing mineralisation and to further accelerate the Company’s plans to commence development and mining of the underlying hard rock resources

 

 

Jason Brewer, Marula Mining PLC CEO said:

"We are delighted to have secured this additional new mining equipment, and are pleased to see it now on site and complimenting the existing mining fleet. As always, we appreciate the efforts of our partner, Q Global, for their assistance in ensuring that we obtain this equipment in a timely and cost effective manner.

“This development further demonstrates Marula’s increasing investment in Blesberg, emphasising our commitment to both the existing stockpiles as well as scaling up the mining operation as we expand and move towards a more conventional hard rock open pit mining operation.”

 

The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.

 

 

About Marula Mining

Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.

 

Marula’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy.

 

Marula’s shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, Kenya’s Nairobi Securities Exchange and South Africa’s Johannesburg Stock Exchange.

 

For enquiries contact:

 

Marula Mining PLC Jason Brewer, Chief Executive Officer   Faith Kinyanjui Mumbi Investor Relations	Email : jason@marulamining.com   Email : info@marulamining.com
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti	+44 (0)20 7213 0880
Broker Peterhouse Capital Limited, Charles Goodfellow / Duncan Vasey	+44 (0)20 7469 0930
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren	+44 (0)20 7138 3204

 

 

 

Caution:

 

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.