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Emmerson raises £5.5mln in share placing

Published: 08:02 01 Mar 2021 GMT

Emmerson PLC -

Emmerson PLC (LON:EML) has raised £5.5mln in a placing of shares at an issue price of 5.75p.

The money raised will be used to make further progress on the development of the Khemisset potash project in Morocco.

"We are delighted with the strong support shown by both some significant new investors and also a number of our existing investors, which further endorses their strong belief in the potential of Emmerson and the Khemisset Project,” said chief executive Graham Clarke.

“These funds enable us to continue to make strong progress as we move ever closer to the commencement of construction. While our main focus in the short term is on securing the environmental approval and strategic financing discussions, we will now commence site investigation work to feed into the commencement of detailed design whilst also working on our sulphate of potash project, salt strategy and expansion of both the life of mine and the potential for increasing our output which present growth opportunities to improve our already outstanding economics.”

 

Emmerson outlines big environmental and financial benefits from Khemisset...

Emmerson PLC (AIM:EML) chief executive Graham Clarke discusses the company's groundbreaking Khemisset Multi-mineral Process (KMP) in an interview with Proactive's Stephen Gunnion. Clarke said the KMP will revolutionize its Khemisset Potash Project with environmental and economic benefits,...

on 1/2/24