Emmerson PLC / Ticker: EML /
Index: AIM / Sector: Mining
31 May
2024
Emmerson PLC ("Emmerson" or
the "Company")
Notice of AGM and Posting of
Annual Report
Emmerson PLC, the Moroccan focused potash development
company, announces that its Annual General Meeting
("AGM") will be held at
11.00 am
BST on
Wednesday 26
June 2024 at 55
Athol Street, Douglas, Isle of Man, IM1 1LA.
The Notice of AGM and a Form of
Proxy, together with a copy of
the
2023
Annual Report and Accounts, will be sent today to shareholders.
These documents are
also available to view on
the Company's website at the following
address: www.emmersonplc.com/investors/corporate-documents/
**ENDS**
For further information, please
visit www.emmersonplc.com,
follow us on Twitter (@emmerson_plc), or contact:
|
Emmerson PLC
Graham Clarke / Jim Wynn / Charles
Vaughan
|
+44 (0)
207 138 3204
|
|
Liberum Capital Limited (Nominated Advisor and Joint
Broker)
Scott Mathieson / Matthew
Hogg
|
+44 (0)20
3100 2000
|
|
Shard Capital LLP (Joint Broker)
Damon Heath / Isabella
Pierre
|
+44 (0)20
7186 9927
|
|
BlytheRay (Financial PR and IR)
Tim Blythe / Megan Ray / Said
Izagaren
|
+44 (0)
207 138 3204
|
Notes to Editors
Emmerson is focused on advancing the
Khemisset project ("Khemisset" or the "Project") in Morocco into a
low cost, high margin supplier of potash, and the first primary
producer on the African continent. With an initial 19-year life of
mine, the development of Khemisset is expected to deliver long-term
investment and financial contributions to Morocco including the
creation of permanent employment, taxation, and a plethora of
ancillary benefits. As a UK-Moroccan partnership, the Company is
committed to bringing in significant international investment over
the life of the mine.
Morocco is widely recognised as one
of the leading phosphate producers globally, ranking third in the
world in terms of tonnes produced annually, and the development of
this mine is set to consolidate its position as the most important
fertiliser producer in Africa. The Project has a large JORC
Resource Estimate (2012) of 537Mt @ 9.24% K2O, with
significant exploration potential, and is perfectly located to
support the expected growth of African fertiliser consumption
whilst also being located on the doorstep of European markets. The
need to feed the world's rapidly increasing population is driving
demand for potash and Khemisset is well placed to benefit from the
opportunities this presents. The Feasibility Study released in June
2020 indicated the Project has the potential to be among the lowest
capital cost development stage potash projects in the world and
also, as a result of its location, one of the highest margin
projects. Updated financial estimates published in February 2024
indicated a net present value of US$2.2 billion, with an internal
rate of return of approximately 40%.