Kropz PLC Phosphate project sales update & further drawdown (3710X)
25 Avril 2023 - 10:02AM
UK Regulatory
TIDMKRPZ
RNS Number : 3710X
Kropz PLC
25 April 2023
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.
25 April 2023
Kropz Plc
("Kropz" or the "Company")
Elandsfontein phosphate project sales update and further
drawdown of bridge loan facilities
Kropz Plc (AIM: KRPZ), an emerging African phosphate producer
and developer, is pleased to announce further sales of 43,886
tonnes of phosphate concentrate from Kropz Elandsfontein (Pty) Ltd
( " Elandsfontein ") during April 2023. The Company is pleased to
be able to report this continuation of sales and expects to update
the market quarterly going forwards as sales continue.
As announced on 14 March 2023 the Company had entered into new
bridge loan facilities of ZAR 285 million (the "Loan") with its
major shareholder, the ARC Fund, to meet immediate cash
requirements at Elandsfontein. The first draw down on the Loan for
an amount of ZAR 25 million was made on 14 March 2023, a second
draw down for an amount of ZAR 90 million was made on 28 March 2023
and a third draw down on the Loan of ZAR 30 million was made
today.
For further information visit www.kropz.com or contact:
Kropz Plc Via Tavistock
Louis Loubser (CEO) +44 (0) 207 920 3150
Grant Thornton UK LLP Nominated Adviser
Samantha Harrison
Harrison Clarke
George Grainger
Ciara Donnelly +44 (0) 20 7383 5100
Hannam & Partners Broker
Andrew Chubb
Ernest Bell +44 (0) 20 7907 8500
Tavistock Financial PR & IR (UK)
Nick Elwes +44 (0) 207 920 3150
Jos Simson kropz@tavistock.co.uk
Emily Moss
R&A Strategic Communications PR (South Africa)
Charmane Russell +27 (0) 11 880 3924
Marion Brower charmane@rasc.co.za
marion@rasc.co.za
About Kropz Plc
Kropz is an emerging African phosphate producer and developer
with 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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END
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