Bellzone Mining plc (“Bellzone” or the “Company”) (AIM: BZM) is pleased to announce that on 31 August 2018, following formal ratification by the Constitutional Court, the President of The Republic of Guinea has duly published the Presidential Decree promulgating into law the Addendum to the Kalia Mining Convention (L’Avenant n°1 à la Convention de Base) (“Addendum”) which was signed on 9 November 2017.
The Addendum updates the Mining Convention (Convention de Base) (“Convention”) for its Kalia Mine and associated infrastructure, which was originally signed on 26 July 2010 and promulgated by Presidential Decree on 2 September 2010.
The Effective Date (“Date d’Entrée en Vigeur”) of the Addendum according to its terms is the date of promulgation by Presidential Decree and Bellzone’s workplan obligations will be referenced from the Effective Date. The Company has completed the extraction of the bulk sample and is proceeding to confirm the shipping logistics and test smelter campaign timetable with the unchanged aim of achieving conclusive feasibility study results by the end of 2018.
Bellzone wishes to place on record our deep appreciation for the strong support of the Guinea Government as a whole, as well as the President, Secretary-General and Deputies of the National Assembly. In particular, we are immensely grateful for the consistent commitment of the Minister, Secretary-General and Staff of the Ministry of Mines & Geology, as well as the Governor, the Prefect and community of Faranah where our Kalia mine is located.
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