Last checked at 11 Sep 2015 15:02
URU Metals Limited / Index: AIM / Epic: URU / Sector: Natural Resources
URU Metals Limited ("URU Metals" or "the Company")
Appointment of RB Milestone Group
URU Metals, the multi-commodity exploration company, is pleased to announce the appointment of RB Milestone Group, LLC ('RB Milestone') as a retained financial communications adviser.
RB Milestone is a New York based equity research and market intelligence firm offering financial research and communications expertise across a range of industries including mining.
The Board has issued and allotted 656,142 Ordinary Shares to RB Milestone in respect of professional services at a price of 1.41p per share ("the New Ordinary Shares"). Application will be made for admission of the New Ordinary Shares to trading on AIM. Admission is expected to be effective on 17 September 2015.
Following Admission, the issued ordinary share capital of the Company consists of 228,960,379 Ordinary Shares of US$0.01 each, with each share carrying the right to one vote. There are no shares held in treasury. The total number of voting rights in the Company is therefore 228,960,379. This number may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
John Zorbas, Chief Executive Officer, commented:
"I am delighted to welcome RB Milestone to our advisory team and believe their team of highly respected market professionals will play an invaluable role in the positioning of URU Metals across North America."
**ENDS**
For further information please visit www.urumetals.com or contact:
URU Metals Limited
John Zorbas (Chief Executive Officer)
| +1 416 504 3978
|
Northland Capital Partners Limited (Nominated Adviser and Joint Broker)
Edward Hutton / Matthew Johnson
| + 44 (0) 207 382 1100 |
Beaufort Securities Limited (Joint Broker)
Andrew Gutmann
| + 44 (0) 207 382 8300 |
RB Milestone Group, LLC (Financial Communications)
Trevor M. Brucato
| +1 (212) 661 7771 |
St Brides Partners Ltd (Financial Public Relations)
Lottie Brocklehurst / Susie Geliher
| +44 (0) 20 7236 1177 |
About URU Metals:
URU Metals is a multi-commodity explorer and developer with a diverse portfolio that includes:
· Zebediela Nickel Sulphide Project, South Africa
100% ownership of a world class nickel sulphide project located in the Limpopo Province of South Africa boasting non-JORC compliant inferred and indicated resources estimate of 1.5Bt containing around 37Mt of nickel. Zebediela is forecasted to be a lowest-quartile production asset with an NPV of US$317 million and a post-tax IRR of 18.6% (assuming a post-tax discount rate of 10%, nickel price of US$8.50/lb, production of 20,000 tonnes of nickel per year over a 25 year mine life, a total capex cost of US$708 million, and an opex cost of US$3.35/lb Ni).
· Burgersfort Nickel Sulphide Project, South Africa
50% ownership of Burgersfort, located in the Mpumalanga Province of South Africa. Previous exploration identified disseminated nickel targets and three deeper massive sulphide nickel targets.
· The Närke Oil-Uranium Project, Sweden
100% interest in an oil shale asset located in the Alum Shale of Sweden. The project will involve the conversion of kerogen to oil and is one of the largest known uranium deposits worldwide. The project has an exploration target of 1.47 billion tonnes potentially containing 303,000t of U3O8 and 525 million barrels of oil equivalent.