RNS Number : 0853L

Adriatic Metals PLC

08 January 2021

Adriatic Metals PLC

("Adriatic Metals" or the "Company")




 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                         Peter Bilbe 
     ---------------------------  ------------------------------------------ 
 2    Reason for the notification 
 a)   Position/status              Non-Executive Director 
     ---------------------------  ------------------------------------------ 
 b)   Initial notification/        Initial notification 
     ---------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                         Adriatic Metals PLC 
     ---------------------------  ------------------------------------------ 
 b)   LEI                          549300OHAH2GL1DP0L61 
     ---------------------------  ------------------------------------------ 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
 a)   Description of the 
       financial instrument,        Adriatic Metals PLC CHESS Depositary 
       type of instrument           Interests (ordinary shares) 
       Identification code          ISIN: AU0000004772 
     ---------------------------  ------------------------------------------ 
 b)   Nature of the transaction    Transfer from Peter Bilbe to the Mr 
                                    Peter Ross Bilbe and Mrs Janet Christine 
                                    Bilbe <PR&JC BILBE Super Fund A/C> 
     ---------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)        Price(s)    Volume(s) 
                                     AUD 2.33       42,000 
                                     AUD 2.33      145,000 
     ---------------------------  ------------------------------------------ 
 d)    Aggregated information 
         *    Aggregated volume                                      187,000 
                                                                 AUD 435,710 
         *    Price 
     ---------------------------  ------------------------------------------ 
 e)   Date of the transaction      31 December 2020 
     ---------------------------  ------------------------------------------ 
 f)   Place of the transaction     Outside a trading venue 
     ---------------------------  ------------------------------------------ 

** ENDS **


The information contained within this announcement is deemed by the Company (LEI: 549300OHAH2GL1DP0L61) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person responsible for arranging and authorising the release of this announcement on behalf of the Company is Paul Cronin, Managing Director and CEO.

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

 Adriatic Metals PLC 
 Paul Cronin / Emma Chetwynd Stapylton   Tel: +44 (0) 203 950 9138 
 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 


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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

January 08, 2021 06:03 ET (11:03 GMT)