Business
Business Update
Business Update.
About this update from Emmerson Plc
[{"type":"text","content":"\n \n \n RNS Number : 1174H\n Emmerson PLC\n 23 March 2020\n \n \n \n \n Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining\n \n \n 23 March 2020\n \n \n Emmerson Plc \n (\"Emmerson\" or the \"Company\")\n \n \n \n Business Update\n \n \n Emmerson Plc, the Moroccan focused potash development company, is pleased to provide an update on its ongoing operations, which are focused on the development of its world class Khemisset Potash Project in Northern Morocco (\"Khemisset\" or \"the Project\"). The Project benefits from an industry-leading cost profile in terms of both capital costs and bottom quartile all-in delivered cost to customer, which together yield outstanding economic metrics including average annual life of mine EBITDA of US$236 million and a post-tax NPV\n \n \n 10\n \n \n of US$1.14 billion1.\n \n \n Highlights\n \n \n · \n Due to the current stage of project development, the COVID-19 outbreak and related global mitigation actions are so far having a limited impact on the Khemisset Potash Project\n \n \n · \n Progress on finalising the Feasibility Study with the independent consultants continues, with only minor, if any, delays to the delivery timetable expected \n \n \n · \n The Company has a robust contingency plan to reduce costs and focus on maintaining shareholder value should the current market instability continue into the latter half of the year. As a precautionary measure, staff in Morocco are predominantly working from home, with a skeleton workforce in place in the office or at site when necessary\n \n \n · \n All non-essential activity, including travel, has been ceased or reduced to protect the Company's employees and assets, and conserve capital\n \n \n ________________\n \n \n \n 1\n Based on industry expert Argus FMB price forecasts \n \n \n \n \n \n Hayden Locke, CEO of Emmerson, commented:\n \n \n \n \n \"While the current market situation is unprecedented, we have already taken steps to ensure that the safety of our employees and assets is ensured, and that our strong cash position is preserved should the volatility and uncertainty continue in the future.\n \n \n \"We are fortunate in terms of our ongoing work programmes, the majority of which are now focused on desktop reviews and report writing, which can continue regardless of working location....