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North River Resources plc / Ticker: NRRP / Index: AIM / Sector: Mining 30 October 2015
North River Resources plc ('North River' or the 'Company') Namib Project Update
North River Resources, the AIM quoted resource company focused on the Namib Lead-Zinc Project in Namibia ('Namib' or the 'Project') wishes to provide an update on the Mining Licence application for the Namib Project.
On-going discussions with the Ministry of Mines and Energy in Namibia with respect to the Mining Licence for Namib remain constructive and encouraging but the Company does not now expect the Mining Licence to be issued by the end of October 2015, being the date nominally assumed by the Company for its recently completed Phase One Fundraising before which the Mining Licence would need to be issued in order to allow a construction decision to be made by the end of this calendar year.
In light of this the Company is reviewing its strategy and timing to bring the Project to a construction decision and expects to complete this review and provide a detailed announcement in the near-term.
The next Shareholder call, scheduled for 3 November 2015 will therefore be rescheduled to follow the announcement of the updated business plan, and details will be announced shortly.
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James Beams
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North River Resources Plc
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Tel: +44 (0) 20 7025 7047
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Andrew Emmott / Ritchie Balmer
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Strand Hanson Limited
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Tel: +44 (0) 20 7409 3494
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Jonathan Williams / Kim Eckhof
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RFC Ambrian Limited
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Tel: +44 (0) 20 3440 6800
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Elisabeth Cowell / Lottie Brocklehurst
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St Brides Partners Limited
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Tel: +44 (0) 20 7236 1177
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