(NewsDirect)
Emmerson PLC (AIM:EML) chief executiveGraham Clarke discusses the company's current status concerningthe Environmental Approval Permit application for its Khemisset potashproject in Morocco with Proactive's Stephen Gunnion.
Clarke told Proactive a ministerialcommittee referred the application back to the regional authority, theCRUI, for re-examination, with a request for Emmerson to resubmitdocumentation with enhancements. This revised documentation, whichincludes the benefits of the Khemisset Multi-mineral Process (KMP) isset to be submitted soon, with confidence in obtaining approval.
Key enhancements in the revisedEnvironmental Impact Assessment relate to a new process that allows a60% reduction in water consumption, significant in drought-affectedMorocco. The KMP process also reduces the risk of water contaminationand facilitates the monetization of waste streams into new fertilizerproducts, reducing runoff risks.
Clarke said a $2.175 million equity placement with strategicinvestors reflects their confidence in the Khemisset Project and themanagement team. The investment underlines their belief in theproject's economics, particularly with the introduction of theKMP.
The involvement of GSM, whichnow includes the right to appoint a board member, is viewedpositively, and expected to bring additional expertise and reinforcetheir commitment to the project.
A retail offer on the REXplatform was aimed at giving existing shareholders the sameopportunity as strategic investors at the given share price. The offerwas well oversubscribed, indicating strong shareholder support andoptimism for the project's future upon approval.
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