Update on Primary Stock Exchange Listing & Update
Marula Mining PLC
("Marula'' or the "Company")
27 June 2024
Update on Primary Stock Exchange Listing and Update
Marula Mining (AQSE: MARU A2X: MARU), an African focused mining and development company, is pleased to provide an update on the Company's plans and strategy in respect to its primary stock exchange listing in the United Kingdom and dual listings in South Africa and Kenya.
The primary listing of the Company's securities in the United Kingdom will remain the Apex Segment of the Aquis Stock Exchange's AQSE Growth Market and with a current dual listing in South Africa and proposed new dual listing in Kenya that the Company is aiming to complete early in H2 2024.
Highlights:
· the Company is currently undertaking significant investment and project development across its portfolio of advanced and producing battery metals projects in Africa
· mining operations in East Africa and Southern Africa are being advanced towards steady state operations and generating increasing positive operating cashflow
· exports sales and earnings are to commence at both the Blesberg Lithium and Tantalum Mine in South Africa and the Larisoro Manganese Mine in Kenya and both are scheduled to increase significantly over H2 2024 in terms of both mineral production and revenue generation
· in addition, the Company is set to commence mining and processing operations at the Kinusi Copper Mine, which the directors believe will generate positive operating cashflow in H2 2024
· production and sales of by-product minerals at the Blesberg Lithium and Tantalum Mine are also due to commence in H2 2024 and contribute further to the Company's earnings and mineral production growth
· the Company remains committed to enhancing shareholder value and believes that its current primary listing and dual listing in South Africa and the planned dual listing in Kenya provides it with a suitable capital markets platform at this time of significant growth and investment
The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.
About Marula Mining
Marula Mining (AQSE: MARU A2X: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; the Blesberg Lithium and Tantalum Mine in South Africa, the Kinusi Copper Mine, the Nyorinyori Graphite Project, the NyoriGreen Graphite Project and the Bagamoyo Graphite Project all in Tanzania and the Nkombwa Hill Project in Zambia. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.
Marula's strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy. Marula's shares are traded on the AQUIS Stock Exchange (AQSE) and South Africa's Independent Exchange the A2X Markets, Marula is seeking a further dual listing on Kenya's Nairobi Securities Exchange and South Africa's Johannesburg Stock Exchange.
For enquiries contact:
|
Marula Mining PLC Jason Brewer, Chief Executive Officer
Faith Kinyanjui Mumbi Investor Relations |
Email : jason@marulamining.com
Email : info@marulamining.com
|
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AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti |
+44 (0)20 7213 0880 |
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Broker Peterhouse Capital Limited, |
+44 (0)20 7469 0930
|
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Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren |
+44 (0)20 7138 3204
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Caution:
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
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