Corcel PLC Re RMI Nickel Project Acquisition (5375O)
February 10 2021 - 1:00AM
UK Regulatory
TIDMCRCL
RNS Number : 5375O
Corcel PLC
10 February 2021
Corcel PLC
("Corcel" or the "Company")
Resource Mining Corporation: Nickel Project Acquisition
10 February 2021
Corcel Plc, ("Corcel" or "the Company"), the natural resource
exploration and development company with interests in battery
metals and flexible grid solutions, announces further to the RNS of
17 November 2020, an update in relation to its investment in
Resource Mining Corporation Ltd. ("RMI").
RMI made the following announcement today to the Australian
Stock Exchange (ASX), the full text of which is also available at
www.tinyurl.com/57fd6zaw .
"Nickel Project Acquisition - Tanzania"
Resource Mining Corporation Limited (ASX:RMI) is pleased to
announce that it has expanded its nickel portfolio by acquiring a
controlling interest in a nickel project in Tanzania.
RMI's Chairman, Mr. William Mackenzie, said "While the Wowo Gap
project in PNG has been the focus for RMI, the expansion into
Tanzania with the acquisition of the prospective KNP represents a
significant step forward for the Company."
Completion of the acquisition is subject to RMI completing due
diligence and is expected to occur within the next week.
Further Information:
RMI is the 100% owner of the Wowo Gap nickel/cobalt project
located 250km from the Company's existing Mambare nickel/cobalt
project in Papua New Guinea. Corcel owns a AUD 4.76m senior debt
position in RMI repayable in in September 2021 and January
2022.
For further information, please contact:
Scott Kaintz 020 7747 9960 CEO Corcel Plc
Roland Cornish/ Rosalind Hill Abrahams 020 7628 3396 NOMAD Beaumont Cornish Limited
Thomas Smith 020 7392 1432 Broker Monecor (London) Ltd (ETX
Capital)
Simon Woods 0207 3900 230 IR Vigo Communications
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Regulation (EU) 596/2014 .
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END
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