TIDMADT1

RNS Number : 0189G

Adriatic Metals PLC

23 November 2020

Adriatic Metals PLC

("Adriatic Metals" or the "Company")

Change of Accounting Reference Date

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) announces that it is changing the Company's accounting reference date from 30 June to 31 December to align it with that of its subsidiary companies.

Accordingly, Adriatic has published audited accounts for the year ended 30 June 2020 and will subsequently publish audited accounts for the six months ending 31 December 2020. Thereafter, interim and annual reports will be published each year for the 6 months to 30 June and 12 months to 31 December respectively.

** ENDS **

For further information please visit www.adriaticmetals.com , @AdriaticMetals on Twitter, or contact:

 
 Adriatic Metals PLC 
 Paul Cronin / Emma Chetwynd        Tel: +44 (0) 203 950 9138 
  Stapylton 
 
 Tavistock Communications Limited 
 Charles Vivian                     Tel: +44 (0) 7977 297903 
 Edward Lee                         Tel: +44 (0) 7736 220565 
 Gareth Tredway                     Tel: +44 (0) 7785 974264 
 
 The Capital Network 
 Julia Maguire/Lelde Smits          Tel: +61 2 8999 3699 
 

ABOUT ADRIATIC METALS

Adriatic Metals Plc (ASX:ADT, LSE:ADT1) is a precious and base metals explorer and developer that owns the world-class Vares Silver Project in Bosnia & Herzegovina and holds licences across the Raska District in Serbia.

The Vares project's captivating economics and impressive resource inventory have attracted Adriatic's highly experienced team, which is expediting exploration efforts to expand the current JORC resource. Results of a recent pre-feasibility study announced on 15 October 2020 indicate a post-tax NPV(8) of US$1,040 million and IRR of 113%. Leveraging its first-mover advantage, Adriatic is rapidly advancing the project into the development phase and through to production with significant cornerstone investment of US$28 million from Queen's Road Capital Investment and European Bank for Reconstruction and Development .

There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 15 October 2020 announcement and these assumptions continue to apply. There have been no material changes to the assumptions and technical parameters on the updated Mineral Resource Estimate announced on 1 September 2020 and these assumptions continue to apply.

Adriatic Metals acquired TSX-listed Tethyan Resource Corp in 2020, to advance the former Kizevak and Sastavci polymetallic mines in the Raska District, southern Serbia.

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November 23, 2020 02:00 ET (07:00 GMT)