Kropz PLC Elandsfontein update (7719D)
24 Octobre 2022 - 8:00AM
UK Regulatory
TIDMKRPZ
RNS Number : 7719D
Kropz PLC
24 October 2022
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
24 October 2022
Kropz Plc
("Kropz" or the "Company")
Elandsfontein update
Kropz Plc (AIM: KRPZ), an emerging African phosphate producer
and developer, provides an update on the delays in the ramp-up of
operations at Kropz Elandsfontein (Pty) Ltd ("Elandsfontein"), as
announced on 9 August 2022, which reported delays to ore
variability in the current mining area.
Mining Variability
Previous geological modelling identified 'phosphorite' as a
compact material present in the otherwise sandy resource. The 2018
resource model, as described in the 2018 Competent Person's Report,
estimated that the relative proportion of phosphorite to
semi-consolidated material was <8%.
As announced on 9 August 2022, higher than anticipated volumes
of compact material were uncovered in Pit 1. The previous
geological modelling had described the hard bank material as
lenses, however, excavation in the pit in June and July 2022
revealed undulating slabs, rather than discontinuous lenses. The
compact material was subsequently redefined as 'hard bank'.
In September 2022, following the re-logging of historical cores,
Elandsfontein's independent geological consultants remodelled the
resource using an implicit modelling function. They also included
the drilling results of closely spaced infill drilling which took
place in late 2021 and the most recent results from the current
2022 infill drilling programme. Although higher volumes of the hard
bank were present, the initial updated model indicates that there
is sufficient sandy ore available within Pits 1 and 2 to support
mining and processing activities until at least the end of 2023.
Further drilling work, to be completed, is expected to support the
longer-term mining plan. The updated modelling also indicates that
Pits 1 and 2 contain approximately 12% hard bank. While the initial
slab of hard bank, uncovered in July 2022, was contrary to
expectations based on previous work, the revised volume of hard
bank does not appear to differ significantly from the previous
modelling.
The geological interpretation of the occurrence of the hard bank
is still work-in-progress and will be supplemented by additional
drilling. Mineralogy can confirm whether the hard bank is a
post-formation event, which would assist in further refinement of
the model. Geophysical methods are being investigated as an
alternative to drilling to further improve the interpretation of
the extent of the hard bank material. Alternative mining methods
are also being investigated.
Independent geological consultants have been commissioned to
provide an updated Mineral Resource Estimate, to confirm the
confidence levels in terms of grade, contact elevation, physical
properties and continuity. This is expected to be finalised in late
2022 pending the outcomes of the ongoing 2022 infill drilling
programme.
Update on ramp-up operations at Elandsfontein
Elandsfontein continues to make progress during its ramp-up
phase and has moved to a revised shift cycle, which has shown
improved plant performance. Although optimisation at the plant is
still ongoing, there have been meaningful improvements in the plant
running times, leading to improved plant stability over the past
eight weeks which has contributed to increased concentrate
production. Elandsfontein is building up stock for its first bulk
sale, expected in late 2022. At the date of this announcement,
18,500 tonnes of phosphate rock concentrate were in stock at the
Saldanha Bay storage facility.
For further information visit www.kropz.com or contact:
Kropz Plc Via Tavistock
+44 (0) 207
Mark Summers (CEO) 920 3150
Grant Thornton UK LLP Nominated
Adviser
Samantha Harrison
Harrison Clarke
George Grainger +44 (0) 20
Ciara Donnelly 7383 5100
Hannam & Partners Broker
Andrew Chubb +44 (0) 20
Ernest Bell 7907 8500
Tavistock Financial
PR & IR (UK)
Nick Elwes +44 (0) 207
Jos Simson 920 3150
Emily Moss kropz@tavistock.co.uk
R&A Strategic Communications PR (South
Africa)
Charmane Russell +27 (0) 11
880 3924
charmane@rasc.co.za
About Kropz Plc
Kropz is an emerging African producer and developer of plant
nutrient feed minerals with phosphate projects in South Africa and
in the Republic of Congo. The vision of the Group is to become a
leading independent phosphate rock producer and to develop into an
integrated, mine-to-market plant nutrient company focusing on
sub-Saharan Africa.
-ENDS-
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