26 Oct 2018 15:15
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Kemin Resources plc("Kemin" or "the Company")
Company update
Further to the announcement on 19 October 2018, the Board of Directors of Kemin Resources Plc (AIM: KEM), a molybdenum and tungsten exploration and development company with substantial interests in Kazakhstan, announce the following update.
The Board is disappointed that it has been put in a position that it has to delist from Aim as the Company has been unable to find a replacement Nominated Advisor in the requisite time. The Company is scheduled to be delisted from AIM from 7am on Monday 29 October 2018.
In order to provide liquidity to shareholders to continue to trade in the shares of the Company, J P Jenkins Ltd has been appointed to provide a dealing facility. The facility will commence on 1 November 2018 and further details in relation to the operation of the facility can be found on the J P Jenkins website - http://jpjenkins.com (telephone 020 7469 0938).
The Board is undertaking a strategic review of the Company in order to explore ways of maximising shareholder value going forward. Further information will be communicated to shareholders in due course.
For further information please visit www.keminresources.com or contact:
Kemin Resources plc:
Rajinder Basra (Chief Financial Officer)+44 (0) 207 932 2456
Information on the Company
Kemin Resources plc (AIM: KEM) was formed into its present structure in April 2013 by the reverse take-over of GMA Resources plc by the ‘Joint Venture Kazakh-Russian Mining Company LLP’ (KRMC).
The Company is focused on developing its mineral resources including molybdenum, tungsten and lithium deposits Drozhilovskoye and Smirnovskoye. Each of the deposits is assessed to have significant value.
Kemin’s 90% owned Kazakh entity, KRMC, is the developer and future operator of the two subsoil licences that allow exploration and mining at each deposit.
Both deposits are located in northern Kazakhstan.
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