Business
Final Results, Annual Report and Notice of GM
Final Results, Annual Report and Notice of GM.
About this update from Kropz Plc
[{"type":"text","content":"\n \n \n RNS Number : 8494U\n Kropz PLC\n 03 August 2020\n \n \n \n \n The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n 3 August 2020\n \n \n Kropz Plc\n \n \n (\"Kropz\" or the \"Company\")\n \n \n \n \n \n Final Results for the Period ended 31 December 2019,\nPosting of Annual Report and Accounts\nand\n \n \n Notice of Annual General Meeting\n \n \n \n \n \n Kropz plc (AIM: KRPZ), an emerging African producer of plant nutrient feed minerals, announces its results for the year ended 31 December 2019 and the publication of the Company's Annual Report.\n \n \n \n \n \n The Company announces that it will hold its Annual General Meeting at the offices of Memery Crystal LLP at 165 Fleet Street, London, EC4A 2DY on 28 August 2020 at 11 am. The full Notice of Annual General Meeting, together with the Annual Report, will be posted to shareholders today.\n \n \n \n \n \n The full financial report and Notice of Annual General Meeting will be available online shortly at: \n \n www.kropz.com\n \n .\n \n \n \n \n \n Key developments during the financial year\n \n \n \n \n \n Corporate\n \n \n \n \n \n · \n US$ 4.34 million (GBP 3.41 million) raised via equity placing in June 2019 at an issue price of 17.6 pence per ordinary share;\n \n \n · \n cash as at 31 December 2019 of US$ 16 million (US$ 30 million as at 31 December 2018); and\n \n \n · \n property, plant, equipment and exploration assets of US$ 145 million (US$ 143 million at 31 December 2018).\n \n \n \n \n \n Projects\n \n \n \n \n \n · \n The primary focus of Kropz in 2019 was the Elandsfontein phosphate project (\"Elandsfontein\") in South Africa;\n \n \n · \n work was aimed at defining the modifications required for the processing facility. Test work was conducted at Mintek in South Africa, and by Eriez and Worley in the United States (\"Test Work\");\n \n \n · \n Test Work results supported a robust circuit, employing both direct and reverse flotation to ensure consistent concentrate grade production of 68 per cent. BPL (31% P2O5) could be achieved consistentl...