Clean Invest Africa Plc - CASA Investment Update
PR Newswire
London, May 20
20 May 2020
Clean Invest Africa
CASA Investment Update
Clean Invest Africa plc (AQSE: CIA) is pleased to provide an investor update regarding its current holding in the CoalTech Group of Companies.
Highlights
- Formal cooperation agreement with a Southern African based business which shows 4 promising opportunities in neighbouring African countries.
- CASA to resume limited operations.
- Completion of 3 testwork programs producing in excess of 12tonnes of bulk sample of dried, waterproofed pellets for 3 local clients.
- Future testwork and production of various anthracite samples for both local and overseas based clients.
Background
CASA to resume limited operations
The original 3 week Lockdown Directive announced by the South African Government was subsequently extended past the original deadline of 16thApril 2020 with no specific end date in mind. The Lockdown will now be lifted gradually in phases, which will depend on the levels of infection in the country, and may differ from area to area. As such, CASA applied for, and was granted Essential Service Provider status, which allows the company to resume limited operations, whilst at the same time still adhering to the broader lockdown regulations. On the back of this Essential Service Provider status, all CASA staff have been issued with certificates to allow them to travel to and from site. The start up of the plant and associated testwork programs will be based on the following schedule:
- Site specific lockdown requirements (monitoring/screening of staff, health protocols etc) to be in place by 18thMay 2020.
- Critical equipment arriving back on site during week starting 18thMay 2020.
- Completion of testwork program producing 350kg of dried, waterproofed pellets for delivery to local client by 29thMay 2020.
- Completion of testwork program to produce a 10kg sample of dried, waterproofed pellets for subsequent preliminary quality control testwork, prior to the completion of a 6t bulk sample of final product. Deadline still to be confirmed with the locally based client.
- Completion of testwork program to produce a 6t bulk sample of dried, waterproofed pellets. Deadline still to be confirmed with the locally based client.
- Planning and initiation of testwork and production of various anthracite samples for both local and overseas based clients.
In the meantime, the CASA team has been working remotely during the lockdown, mainly on further developing Marketing and Business Development Opportunities, and as such have entered into a formal cooperation agreement with a Southern African based business which shows 4 promising opportunities in neighbouring African countries:
- Three "captive" plants producing pellets for the client using the client's feed material (Two in Zimbabwe and one in Swaziland)
- A plant producing pellets for a proposed 300MW Power Plant (Swaziland)
CASA are confident, notwithstanding the long lead times, that they can turn these types of opportunities into commercial contracts and expand further in both South Africa and via Coaltech, globally.
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
The Directors of the Company accept responsibility for the content of this announcement.
ENQUIRIES:
Company
Clean Invest Africa PLC
Filippo Fantechi - Chief Executive Officer
Telephone: +973 3 9696273
Corporate Adviser
Peterhouse Capital Limited
Guy Miller
Telephone: 020 7220 9795
