28th Oct 2019 15:01
(Alliance News) - Emmerson PLC on Monday said the mineral resource estimate for its Khemisset potash project in northern Morocco has been upgraded.
Emmerson said the project contains "more than half a billion tonnes of JORC compliant potash resource", with the 537 million tonnes representing a 72% increase from the maiden mineral resource estimate.
"The recalculation of the economic cut-off grade for Khemisset shows the project can be profitable to a grade as low as 5.2% potassium oxide and, as a result, we continue to believe there is strong potential to increase the mine life at Khemisset. The updated MRE is a further validation of the world class prospects for the project," said Chief Executive Hayden Locke.
"We continue to make exceptional progress on the feasibility study and remain confident it will be delivered within our target timeline of the first half of 2020," he added.
Shares in Emmerson were up 1.0% at 3.89 pence in London on Monday.
By Lucy Heming; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Emmerson