13:00 Thu 18 Jun 2020
Block Admission
--(BUSINESS WIRE)--
/ Index: AIM / Epic: ACP / Sector: Investment Company
(‘Armadale’ or ‘the Company’)
Block Admission
, the AIM quoted investment group focused on natural resource projects in , announces that application has been made for the Block Admission of 83,274,220 ordinary shares of each in the capital of the Company ("" and ""), ranking with the Company's existing Ordinary Shares. These New Ordinary Shares may be issued from time to time pursuant to the exercise of existing Warrants and Convertible Loan Notes by their respective holders.
It is expected that admission will become effective in the New Ordinary Shares on (""). The Company's issued share capital currently consists of 459,519,667 Ordinary Shares, with no shares held in .
**ENDS**
is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in . The Company, led by a team with operational experience and a strong track record in , has a strategy of identifying high growth businesses where it can take an active role in their advancement.Notes
The Company’s primary focus is the Mahenge Liandu graphite project a long-life low-cost graphite development project in south-east . Mahenge Liandu is located in a highly prospective region and is projected to produce 109,000 tonnes of large flake high-purity graphite per annum. The Project has demonstrated robust economics with headline figures including a pre-tax NPV of and IRR of 91%. An updated DFS produced in forecasted pre-tax cashflow of to be generated from an initial 15 year mine life, utilising just 25% of the resource. The Resource remains open in multiple directions offering significant further upside.
Other assets Armadale has an interest in, include the Mpokoto Gold project in the and a portfolio of quoted investments.
More information can be found on the website .www.armadalecapitalplc.com
View source version on :businesswire.comhttps://www.businesswire.com/news/home/20200618005423/en/
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