{"id":107782,"title":"Marula Mining Plc Quarterly Activities Update","publisher":"Share Talk","author":"sharetalk","published":"2023-04-28T14:49:09+00:00","modified":"2023-04-28T14:49:09+00:00","canonical_url":"https://www.share-talk.com/marula-mining-plc-quarterly-activities-update/","markdown_url":"https://www.share-talk.com/marula-mining-plc-quarterly-activities-update.md","json_url":"https://www.share-talk.com/marula-mining-plc-quarterly-activities-update.json","category":"Mining","categories":["Mining"],"tags":["Africa","COPPER","geological","Jason Brewer","Kinusi","mapping","MARU","Marula Mining","Mineralisation","Mining","Nairobi","Nkwomba Hill Niobium","Project","rare earth element","Share Talk","survey","Takela","Tantalum","Tanzania","Tanzanian","wind turbines"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"**Marula Mining (AQSE: MARU)** (“Marula” or the “Company’) an African focused mining and development company, is pleased to update the market and shareholders on the activities of the Company for the three-month period ending 31 March 2023 (the “Quarter”).\n\nKEY HIGHLIGHTS OF THE QUARTER\n\n- **Investment and Co-Development Partnership with Q Global Commodities Group**\n\nIn January 2023, the Company signed a conditional Subscription Agreement, Co-Development Agreement, and a Relationship Agreement (“Investments Agreements”) with Q Global Commodities Group (“Q Global”), one of South Africa’s leading independent commodity, mining, logistics and investment funds.\n\nAs announced on 31 January 2023 under the Investment Agreements, Q Global will subscribe for up to £3.75 million under the Subscription Agreement through the issue of up to 100,000,000 new ordinary shares of 0.01 pence each in the Company at a price of 3.75 pence per new Ordinary Share through a staged equity investment across five equal tranches of £0.75 million. Africa. The Relationship Agreement also sets out the terms of the relationship between Q Global, the Company and its AQSE Corporate Adviser.\n\nIn accordance with these agreements, Mr Quinton van der Burgh, Q Global’s CEO and one of South Africa’s leading mining entrepreneurs, will be appointed Chairman of the Board of Directors, subject to various matters including completion of all normal regulatory approvals, due diligence and the proposed admission to trading of Marula’s shares to the AIM market.\n\nThe Investment Agreements are conditional upon, amongst other things, a Rule 9 Waiver being obtained in accordance with the City Code on Takeovers and Mergers and shareholder approval at a forthcoming general meeting (“General Meeting”) of the Company.\n\nAs at the date of this announcement, both the Company and Q Global are still progressing the various submissions to regulatory bodies in the United Kingdom and in South Africa with their respective advisors to obtain the necessary outstanding approvals.\n\n- **Processing Operations at the Blesberg Lithium and Tantalum Mine**\n\nMining and Processing of the Existing Stockpiles.\n\nMining and processing activities at the Blesberg Lithium and Tantalum Mine during the Quarter were focused on the existing stockpiles of material from which high-grade spodumene is being recovered.\n\nProcessing, sampling and rehabilitation of the existing stockpiles continued in the Quarter, with all mobile mining equipment on site and operational and mine layout optimisation work continuing throughout the period. Upgrades were completed on haul roads and access ramps to the stockpiles and all key site infrastructure was established.\n\nIn total 6,500 tonnes of material were processed from the existing stockpiles during the Quarter and is contained in the new run-of-mine stockpiles pending final sorting and sizing and / packaged in one tonne bags pending delivery under the existing US$5 million Lithium Prepayment Facility announced in October 2022. This material comprised:\n\n|   |   |\n| --- | --- |\n| **Tonnes** | **Sizing** |\n| 630 | >140mm |\n| 2,700 | 10mm to 55mm |\n| 3,200 |"}