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| Date | 10 Nov 2022 |
| Time | 08:27:04 |
| Category | Miscellaneous |
| ID | 9772F |
Adriatic Metals PLC
("Adriatic Metals" or the "Company")
Project Update Video
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF), has produced an updated project video on the ongoing construction and development of the Vares Silver Project in Bosnia & Herzegovina.
To view the video, please look at our website: https://www.adriaticmetals.com/news/project-update-november-2022/
**ends**
Authorised by, and for further information, please contact Paul Cronin, Managing Director & CEO on [email protected]
For further information please visit www.adriaticmetals.com; @AdriaticMetals on Twitter; or contact:
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Adriatic Metals PLC |
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Paul Cronin / Klara Kaczmarek |
Via Buchanan |
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Buchanan |
Tel: +44 (0) 20 7466 5000 |
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Bobby Morse / Oonagh Reidy |
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Canaccord Genuity Limited (Joint Corporate Broker) |
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Jeremy Dunlop (Australia) |
Tel: +61 2 9263 2700 |
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James Asensio (UK) |
Tel: +44 (0) 207 523 8000 |
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RBC Capital Markets (Joint Corporate Broker) |
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James Agnew / Jamil Miah |
Tel: +44 (0) 20 7653 4000 |
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Stifel Nicolaus Europe Limited (Joint Corporate Broker) |
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Ashton Clanfield / Callum Stewart |
Tel: +44 (0) 20 7710 7600 |
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Citadel Magnus |
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Cameron Gilenko |
Tel: +61 2 8234 0100 |
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ABOUT ADRIATIC METALS
Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) is a precious and base metals developer that is advancing the world-class Vares Silver Project in Bosnia & Herzegovina, as well as the Raska Project in Serbia.
The Vares Project is fully-funded to production, which is expected in Q3 2023. The 2021 Project Definitive Feasibility Study boasts robust economics of US$1,062 million post-tax NPV8, 134% IRR and a capex of US$168 million. Concurrent with ongoing construction activities, the Company continues to explore across its highly prospective 42km2 concession package.
There have been no material changes to the assumptions underpinning the forecast financial information derived from the production target in the 19 August 2021 DFS announcement and these assumptions continue to apply and have not materially changed. Adriatic Metals is not aware of any new information or data that materially affects the information included in the announcement of the updated Mineral Resource Estimate announced on 1 September 2020 and all material assumptions and technical parameters underpinning the Mineral Resource Estimate continue to apply and have not materially changed.
Market Abuse Regulation Disclosure
The information contained within this announcement is deemed by Adriatic (LEI: 549300OHAH2GL1DP0L61) to constitute inside information as stipulated under Article 7 of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended ("UK Market Abuse Regulation").
The person responsible for arranging and authorising the release of this announcement on behalf of Adriatic is Paul Cronin, Managing Director and CEO.