(Alliance News) - Adriatic Metals PLC on Wednesday announced the opening of its Vares project in
Bosnia and Herzegovina.
Adriatic Metals is a Cheltenham, England-based precious and base metals developer, with licences in Bosnia & Herzegovina and Serbia. The Vares silver project is the company's flagship asset in Bosnia.
The Vares project was officially opened yesterday following the production of first silver/lead concentrate and zinc concentrate last Tuesday, Adriatic said.
However, the Rupice Mine, from which the ore is sourced, commenced mining in July.
The firm said it will now focus on plant optimisation and ramp up to consistent production and is scheduled to reach nameplate capacity of 800,000 tonnes per annum in the fourth quarter of 2024.
Chief Executive Officer Paul Cronin commented: "I am delighted to celebrate this momentous occasion with the team who helped deliver this project. I would like to acknowledge all those who have made this project possible - from first exploration drill hole to first concentrate production in under seven years is truly a fantastic achievement."
Shares in Adriatic Metals were up 1.4% at 170.94 pence each in London on Wednesday morning.
By Sabrina Penty, Alliance News reporter
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Adriatic Metal. (ADT1)