Published on 20/5/2020 • Category:
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
o Formal cooperation agreement with a Southern African based business which
shows 4 promising opportunities in neighbouring African countries.
o CASA to resume limited operations.
o Completion of 3 testwork programs producing in excess of 12tonnes of bulk
sample of dried, waterproofed pellets for 3 local clients.
o 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 16^th April
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:
1. Site specific lockdown requirements (monitoring/screening of staff, health
protocols etc) to be in place by 18^th May 2020.
2. Critical equipment arriving back on site during week starting 18^th May
2020.
3. Completion of testwork program producing 350kg of dried, waterproofed
pellets for delivery to local client by 29^th May 2020.
4. 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.
5. Completion of testwork program to produce a 6t bulk sample of dried,
waterproofed pellets. Deadline still to be confirmed with the locally
based client.
6. 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:
1. Three “captive” plants producing pellets for the client using the client’s
feed material (Two in Zimbabwe and one in Swaziland)
2. 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 9795All Announcements