Marula Mining PLC - Update on Blesberg Spodumene Sales
Announcement provided by
Marula Mining PLC · MARU20/06/2024 14:29
Marula Mining PLC
("Marula'' or the "Company")
20 June 2024
Update on Blesberg Spodumene Sales
Marula Mining (AQSE: MARU) an African focused mining and development company, provides an update on the current status of its spodumene sales.
The Company confirms that initial sales of 500 tonnes ("t") of spodumene is proceeding, with its executive management team and consultants in
Highlights:
· Initial spodumene sales represent the total planned and scheduled sales for both May and June 2024
· This export sales process and the receipt of sales proceeds is expected to be concluded over the next 2 to 4 weeks
· Arrangements for the transportation and export of this initial 500t of spodumene sales has been delayed by the logistical constraints currently being experienced in
· The Company's executive team and advisors anticipate further sales of spodumene to proceed smoothly going forward into existing offtake agreement arrangements and into further sales arrangements into
· Sales of spodumene ore are expected to achieve the Company's minimum sales targets of 10,000t of spodumene ore for 2024
· The Company's South African subsidiary, South African Lithium and Tantalum Mining (Pty) Limited ("SALT") is expecting to finalise agreements for the sales of other by-product minerals including tantalum, feldspar and mica, which are anticipated to commence in Q3 2024
· In addition, the Company is pushing ahead with its plans to establish expanded processing facilities to produce a higher value lithium carbonate and/or lithium hydroxide and which it expects to have established later in 2024 at the Blesberg Lithium and Tantalum Mine
The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of
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
Marula's strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and
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, |
+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.
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