https://www.miningweekly.com

San Jose feasibility study fully funded

13th December 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed Plymouth Minerals has received commitments to raise $6.5-million through the issue of 36.4-million shares at $0.18 apiece, with the funds committed towards the completion of a feasibility study at its San Jose lithium/tin project, in the mining region of Extremadura, Spain.

The company reported on Thursday that the placement had attracted strong interest from new and existing domestic and international institutional investors and would allow for the completion of the study by the fourth quarter of 2018.

The completion of the feasibility study triggers the earning of an additional 25% stake in the near-term San Jose project, bringing Plymouth’s total interest to 75%.

“This equity raising is a key step as Plymouth advances towards lithium production and we are extremely pleased with the level of support from investors.

“The placement brings the benefit of fully funding the company for the next phase of its growth and strengthens our institutional shareholder base, raising the profile of the company both domestically and internationally,” said Plymouth MD Adrian Byass.

He added that the project was “exceptionally” well-positioned to become a key lithium production hub as it had strong lithium mineralisation in an openpit/low strip setting, excellent infrastructure, a development partner in the large Spanish construction company Sacyr and potential for significant production scale, long mine life and high margins.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.104 0.139s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: