21st June 2017 RNS1 Feb 2018 10:35
("Alexander" or the "Company")
Accudo Commits to a Copper Project Definitive Feasibility Study
Alexander is pleased to report that Accudo Metals Pty Ltd ("Accudo") has advised the Company that it has signed a deed of heads of terms with the owners of the copper tenements and assets in Australia being assessed for the potential use of Alexander's AmmLeach� technology.
The Chairman of Accudo, Dr Saliba Sassine, said that "with the signing of the heads of terms, Accudo will now proceed to conduct a definitive feasibility study ("DFS") with a view to producing a bankable feasibility study if the DFS is positive."
"This is an exciting step for Accudo and Alexander Mining and we look forward to completing the work and assessing the results."
"Accudo is in the process of finalising and appointing members of the feasibility study team which will include hydrometallurgical and engineering, geology and mining, environmental, legal and corporate and financial advisors."
"It is expected that the study will take approximately six months to complete, at the end of which a decision will be made by Accudo on whether to acquire the assets."
Martin Rosser, Chief Executive Officer, said: "The news of Accudo's commitment to proceed with a DFS on the potential use of our leaching technology under the existing licence agreement between us is highly significant. We look forward to working together closely on this first copper project opportunity in Australia."