Business
Exploratory drilling starts at new Guernsey quarry
Exploratory drilling starts at new Guernsey quarry.
About this update from Sigmaroc Plc
[{"type":"text","content":"\n \nRNS Number : 0349V SigmaRoc PLC 31 October 2017 \n\nSigmaRoc plc / EPIC: SRC / Market: AIM / Sector: Construction Materials\n \n \n31 October 2017\nSigmaRoc plc\n('SigmaRoc' or the 'Company')\n \nStart of exploratory drilling at new Guernsey quarry\n \nSigmaRoc plc, the buy-and-build construction materials group, is pleased to announce that its subsidiary Ronez Ltd (\"Ronez\"), the Channel Island construction materials producer, has begun the next phase to establish a new quarry site on Chouet headland in Guernsey. Exploratory drilling, scheduled to begin on 6 November 2017, will contribute to the ongoing evaluation of the site's potential and is an essential part of the planning application.\n \nThe Board believes that production at Chouet could initially start in 2021 and that a quarry at Chouet would have a lifespan of at least 40 years during which time hardstone could be extracted from both freeheld mineral and further mineral held by the States of Guernsey. Ronez is in discussions with the States of Guernsey Development and Planning Authority over drawing up a development framework for the site allowing for the most efficient utilisation of the reserves.\n \nSigmaroc CEO, Max Vermorken, said: \"We are pleased to be initiating this exploratory work at Chouet Headland. Quarrying is strategically important to Guernsey and we are convinced that a new quarry would provide decades of sustainability for the local industry.\"\n \nEarlier this month, SigmaRoc announced the acquisition of Topcrete Limited and its wholly owned subsidiary Allen Concrete Limited for an initial cash consideration of £9m and a deferred consideration of £3.5m.\n \nRonez is a wholly-owned subsidiary of SigmaRoc, which acquired the business for £45m in January 2017.\n \n \nEnquiries:\n \n\n\n\n\nSigmaRoc\n\n\nTel: +44(0)207 002 1080\n\n\n\n\nMax Vermorken, CEO\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStrand Hanson (Nominated and Financial adviser)\n\n\nTel: +44(0)207 409 3494\n\n\n\n\nJames Spinney / James Dance\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nZeus Capital Limited (Joint Broker)\n\n\nTel: +44(0)203 829 5000\n\n\n\n\nRob Collins / Alex Wood\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBerenberg (Joint Broker)\n\n\nTel: +44(0)203 207 7800\n\n\n\n\nBen Wright / Mark Whitmore / Laure Fine\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nT...