Kropz Plc Share Price (KRPZ)

Minimal info as ever and nothing regarding new product Nanophos which is disappointing. Back in the bottom draw with the rest of the forever hopefuls. GLA

Never known them to give a price per tonne

Only question that remains is can they dig it up and load it for shipping in enough volume and at the right price ?

Thanks Blue

Travelling today so I can’t buy ….. however nice to see the SP on the up again …

Kropz PLC Update Mineral Resource Estimate - Elandsfontein

20/06/2024 7:52am

RNS Regulatory News

RNS Number : 2029T

Kropz PLC

20 June 2024

20 June 2024

Kropz Plc

("Kropz" or the "Company")

Update of Mineral Resource Estimate for Elandsfontein

Kropz Plc (AIM: KRPZ), an emerging African phosphate producer and developer, is pleased to announce an update to the JORC (2012) compliant Mineral Resource Estimate ("MRE") at its South African phosphate project, Elandsfontein Phosphate Project ("Elandsfontein").

The significant write-down in declared Ore Reserves from 2018 to 2022 has been partially reversed in the 2023 Ore Reserve estimate, largely due to the additional infill drilling which was completed in 2023.

It is expected that the future drilling campaigns will continue to improve the Mineral Resource estimates from Inferred to Measured or Indicated categories and will enable improved conversion of the Mineral Resources to Reserves.

While both the declared Reserve tonnes and grade have increased, the grade and tonnage estimate of the Resource has decreased. This aligns to the improved confidence in the grade estimation of the deposit and reflects the declining grade of the deposit over its life.

Summary

· The 2023 Reserve estimate was positively affected by the completed infill and exploration drilling, which significantly improved the total declared Measured and Indicated Mineral Resources. The Ore Reserves are stated at 30 September 2023, and account for the pit depletions up until the end of September 2023;

· Total Measured and Indicated resource tonnage has increased by approximately 72%, while the Total resource tonnage has reduced by 30%;

· Decrease in total phosphate resources at Elandsfontein to 74.23 million tonnes ("Mt") from 106.58 million tonnes in 2022;

· Total Reserves are estimated at 26.63 Mt at a P2O5 grade of 9.38% of which 16.56 Mt is Proven at 10.25% P2O5, This compares to previous estimate at 17.42 Mt at 9.19% P2O5.

Louis Loubser, Chief Executive Officer commented:

"Our planned infill drilling campaign has proved worthwhile. Although the changes in our Resource estimate have been substantive, our ability to accurately predict the spatial position and grade of the ore body has improved greatly. This has led to further accuracy and prediction improvements which are reflected in an encouraging increase in our mineable ore Reserves."

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