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17 Dec 2009 16:45
NOVENTA LIMITED
("Noventa" or the "Company")
[AIM: NVTA]
Trading Update
17 December 2009
Further to the announcement made on 20 November 2009, and following a meeting of the Executive Committee of the Board of Directors held yesterday the necessary investigations into the Company's processing plant at the Marropino mine have now been concluded. The Company intends to restore production of Tantalum concentrate at the Marropino mine in Mozambique as early as March 2010, initially through the re-processing of tailings which have been stockpiled over the last five years, and contain economic levels of Tantalum. The previously mined and rejected oversize material will also be reprocessed in tandem with the restoration of the pit, and the processing of the main ore body.
In preparation for re-starting production, the Company is currently in the process of recruiting, and are in negotiations with suitably experienced, Portuguese speaking mining professionals for the Marropinio mine.
The Company will ensure that Shareholders are updated on further developments.
Commenting, Eric Kohn, Chairman of Noventa said:
"We are greatly encouraged that following our extensive review of the Marropino mine, that we will be able to start economic production of Tantalum concentrate from the site shortly."
For further information please contact:
Eric F. Kohn TD
Chairman
Noventa Limited
+41 22 8500560
+41 79 5030150
www.noventa.net
Nick Harriss/Emily Staples
Blomfield Corporate Finance Limited
+44 20 7444 0800
Daniel Briggs
Religãre Hichens, Harrison plc
+44 20 7444 0500
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