Business
Audited Results for the year ended 31 Dec 2018
Audited Results for the year ended 31 Dec 2018.
About this update from Emmerson Plc
[{"type":"text","content":"\n \nRNS Number : 4787X Emmerson PLC 30 April 2019 \n\nEmmerson Plc / Ticker: EML / Index: LSE / Sector: Mining\n30 April 2019\nAudited Results for the year ended 31 December 2018\nEmmerson Plc (\"Emmerson\" or \"the Company\"), focused on developing the low cost, high margin Khemisset Potash Project, is pleased to announce its audited results for the 12 months ended 31 December 2018. The Group's Annual Report which includes an unqualified audit report and audited Financial Statements for the year ended 31 December 2018, will be made available on the Company's website at www.emmersonplc.com. \nHighlights\n· Strategy focused on the rapid advancement of the Khemisset Potash Project through the de-risking and development milestones towards production; \n· Scoping Study confirmed the robust economics of the Khemisset Potash Project confirming its potential to be one of the world's lowest cost and highest margin potash projects: \no NPV10 of US$1.14 billion using independent industry analyst Price Forecasts over a minimum 20-year mine life\no Life of mine average EBITDA margins of c.64% and average life of mine post-tax cash flow of US$184 million \no Capital requirement of the Project is less than half of global peer average \n· Seismic study conducted across the Khemisset basin demonstrated that there was no major faulting that could impact underground mining operations \n· Preliminary design and cost estimates for mine access confirmed that conventional access to mineralisation is feasible \n· Additional research permits covering land adjacent to existing resource granted and an independent verified exploration target of between 264-616 million tonnes was established \n· Drill programme commenced with the objective of upgrading current JORC Inferred Resource to the higher confidence Indicated and Measured categories \n \nChairman Statement\nThe rapid advancement of the Khemisset Potash Project (\"Khemisset\" or \"the Project\") has been the key objective for the period and the Group has delivered on this by achieving several significant development milestones including the release of the Scoping Study in November 2018, some months ahead of schedule. \...