9:52 am MOU EXECUTED FOR EXISTING SHAFT AND INFRASTRUCTURE UTILISATION
• Non-binding MoU executed with Ohmgebirge neighbour, Deusa, for long-term utilisation of existing
Bernterode shaft and associated infrastructure to deliver accelerated access to the Ohmgebirge deposit.
• Binding exclusivity granted to South Harz until 31 March 2024 to reach definitive commercial agreement.
• Delivers a brownfield development pathway that offers substantial time, capital cost and footprint
advantages versus greenfield shaft construction, reducing timeline to first production.
• Bernterode’s existing shafts are located only 1,500m from the Ohmgebirge tenement boundary,
contiguous with the Ohmgebirge deposit.
• Ohmgebirge’s Spatial Planning Application, incorporating utilisation of Bernterode infrastructure as the base case development pathway, is on track for submission during Q4
CY2023.
• Ohmgebirge Pre-Feasibility Study now targeted to be delivered in early Q2
CY2024, allowing optimised and fulsome inclusion of Bernterode brownfield development pathway.
complete text :
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