In an exclusive interview with London South East, Hayden Locke, CEO at Emmerson Plc gives us a detailed operational update on progress with the project.
Looking forwards, he expects to announce a resource upgrade in September or October, moving it to 'measured and indicated' category, with an eye on releasing the resource figure with the Feasibility Study. In a wide ranging interview we discuss the importance of the metallurgical study - 'the importance of which is often underestimated' said Hayden. Also the indicative debt financing offer of $230M from a leading European Bank which is more than half the estimated $400M cost of the Khemisset project.
And we discussed the need for a strategic partner and talked through who that might be and the strategic fit required. Emmerson are continuing to keep their options open and discussions continue said Hayden. He emphasised the importance of private investors to getting the project to completion and was 'delighted' the book to raise £2.25M in July was oversubscibed in a difficult market, with several institutions and high net worths including Ann Gloag buying shares. Hayden sees this as a reflection of the quality of the project. #Emmerson #Potash #Hayden Locke CEO #Morocco #Khemisset
Emmerson (EML)