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24 Dec 2020 07:00
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
24 December 2020
Emmerson Plc ("Emmerson" or the "Company")
Appointment of Director
Emmerson Plc, the Moroccan focused potash development company, is pleased to announce that it has appointed its CEO Graham Clarke as a director of the Company effective from 22 December 2020.
Graham is a highly experienced fertiliser industry executive with 26 years' experience in underground potash mining. Graham's broad experience includes managing all technical disciplines, due diligence processes and stakeholder engagement.
Mark Connelly, Chairman of Emmerson, commented:
"Graham has done a great job during his first five months as CEO and we are delighted he has now joined the Board. As work continues to progress on schedule at the Khemisset Potash Project, the Company is entering an important time in its development and Grahams industry expertise will be invaluable in supporting our continued progress. We look forward to an exciting year ahead in 2021 as Emmerson enters its next stage of development."
The Directors of the issuer accept responsibility for the contents of this announcement.
**ENDS**
For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:
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Notes to Editors
Emmerson's primary focus is on developing the Project located in Northern Morocco. The Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24% K2O and significant exploration potential with an accelerated development pathway targeting a low capex, high margin mine. Khemisset is perfectly located to capitalise on the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. This unique positioning means the Project will receive a premium netback price compared to existing potash producers. The need to feed the world's rapidly increasing population is driving demand for potash and Emmerson is well placed to benefit from the opportunities this presents. The Feasibility Study released in June 2020 indicated Khemisset has the potential to be among the lowest capital cost development stage potash projects in the world and also, as a result of its location, one of the highest margin projects. This delivered outstanding economics including a post-tax NPV10 of approximately US$1.4 billion using industry expert, Argus', price forecasts.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
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