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Jervois finalises ICO BFS; reviews plans in response

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douginil   Wednesday, 03/18/20 07:57:44 PM
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Jervois finalises ICO BFS; reviews plans in response to Covid-19Key Points


19 March 2020ASX / TSX-V: JRVOTC: JRVMF / FRA: IHS


•ICO Bankable Feasibility Study (“BFS”) close to finalisation; public release delayed pending further customer off-take negotiations

•Lender IE review of the BFS by RPM Global USA Inc (“RPM”) is continuing as planned, but remotely. PlannedApril ICO site visit is delayed until safe travel and site access is guaranteed. No definitive or material impact on debt financing schedule

•Jervois will provide the BFS economic outcomes in early April to selected potential lenders and request revised term sheets, with appointment(s) by Jervois expected thereafter

•ICO re-mobilisation plans are being reviewed due to Covid-19traveland equipment transportation restrictions; expenditure for ICO pre-construction and field exploration for summer 2020 paused; Ugandan exploration also paused

•At 17 March 2020,Jervois hadA$8.15million in cash–enabling finalisation ofICO BFS and IE review for lenders, move forward with securingICO debt financing and maintain the Company’s current operational footprint forat least12 months




Read moe at:
https://mcusercontent.com/6f52ace6c580fa2e1b6485f53/files/db09c044-d524-436e-b4c5-3073a60dde22/02215956.pdf

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