Kisinka Copper-Cobalt Project Update

African Battery Metals plc (LON:ABM) the AIM listed battery metal exploration and development company is pleased to provide a update on progress achieved with the Kisinka Copper-Cobalt project (“Kisinka” or the “Project”) in the Democratic Republic of Congo (“DRC”).

Highlights:

  • DRC visit undertaken in late February 2019 by Andrew Bell, Chairman, including meetings with project vendors and local technical advisers;
  • ABM is to proceed with the Kisinka Copper-Cobalt project (permis de recherches PR 12728) and is currently liaising with its geological team to prepare the next stage exploration programme;
  • Utilising previous exploration data, modifications to the original exploration programme have been identified to optimise project expenditure;
  • Outstanding Kisinka project payments have now been made to the vendor, changes in the legal ownership structure of the license have been made to comply with the new Mining Act, and consequently the Project is in good standing;
  • ABM holds a 70% interest and the vendor 30%, ABM remaining the operator of the Project;
  • A further announcement will be made in due course to outline the planned exploration programme for Kisinka.

Paul Johnson, Executive Director of African Battery Metals commented: “I am pleased to confirm the Company’s commitment to the Kisinka Copper-Cobalt Project and look forward to moving this project forward in due course.

ABM is continuing to review all the Company’s existing projects and will report back individually with regard to each project over the coming weeks.

The overriding objective of the Company now is to work efficiently through our review of existing interests and where we decide to proceed, to design and implement exploration and development programmes efficiently.

In parallel we continue to review additional opportunities where we see potential for considerable value to be added to our business for shareholders.
Further update announcements are expected in the near term.”

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No.596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

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11 March 2019

 
 
 

African Battery Metals Plc
201 Temple Chambers
3-7 Temple Avenue
London EC4Y 0DT
United Kingdom

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