17th May 2007 14:30
Noventa Limited17 May 2007 Noventa Limited ("Noventa" or the "Company") The Board of Noventa announces that due to technical issues being experienced atthe Company's Marropino plant, a delay in the forecast ramp-up to full capacityis anticipated. The Board is currently investigating these issues and remedial action is beingtaken to rectify them. The Board will advise shareholders of the outcome of itsinvestigations and likely impact on forecasts once they have been completed. The Board also notes that it has terminated discussions in relation to anacquisition target which may otherwise have resulted in a substantialtransaction. Enquiries: Brunswick Group LLP Andrew Garfield Tel: +44 (0)20 7404 5959 Mark Antelme Notes to editors Noventa is in the process of becoming an industrial scale supplier oftantalum and a producer of morganite, starting from its Marropino mine inMozambique. Noventa's strategy is designed to enable it to become one of theworld's largest and lowest cost industrial scale supplier of tantalumconcentrate and to develop its deposits of morganite into a significant revenuestream. Pure tantalum is characterised by its high melting point, itsexceptional resistance to chemical attack, its capacity to store and releaseelectrical charge and its corrosion resistance. These unique chemical propertieshave led to its widespread use in the electronics and aeronautics industries andin the making of surgical appliances. The main use of tantalum is in themanufacture of electrolytic capacitors for mobile phones, computers andautomotive electronics. Additional uses are found in super alloys for turbineengines, precision optical lenses and high temperature applications. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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