Hayden Locke, CEO of Emmerson PLC (AIM:EML) Khemisset Project:Decline Design and Cost Estimate

We talk to Hayden Locke who is the CEO of Emmerson PLC about the announcement of their RNS this morning and what it means for the company and news to follow.

Highlights

Mining horizon proposed to be accessed by twin declines constructed using underground mining machinery, which will later be used in mining production

Direct capital cost estimate of mine access component approximately US$35m including 30% contingency, with potential to save upfront capital by using contract miners to complete works

Estimated capital cost saving of over 95%, or over US$1bn, relative to average Canadian potash mine development

This cost would place the Khemisset Potash Project in the lowest 10% for mine access cost for potash developments globally

Design and estimate completed by independent engineering group, Golder Associates ("Golder"), according to AusIMM guidelines for capital cost estimates

Enhances Management's strong belief in potential for Khemisset to be a low capital cost potash mine development

The preliminary design and cost estimates for the mine access is the first Scoping Study deliverable for the Khemisset Potash Project, which is set to be delivered in Q1 2019

#EMMERSON #MINING #EML