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Jervois Mining Quarterly Activities Report to 31 March 2020

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douginil   Tuesday, 04/14/20 09:46:27 AM
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Jervois Mining Quarterly Activities Report to 31 March 2020


[[ ICO = Idaho Cobalt Operations ]]

HIGHLIGHTS

- Workstreams of ICO Bankable Feasibility Study (“BFS”) in final stages; public release delayed due to Covid-19 outbreak

- Jervois received indicative financing proposals for ICO from selected lenders invited to tender; BFS economic outcomes will be provided to potential lender(s) shortly, with revised term sheets to finalise appointment

- RPM appointed as Independent Engineer to act on behalf of lender(s) for ICO debt financing, diligence well underway – site visit delayed due to Covid-19

- Jervois has also paused ICO remobilization, pre-construction and field exploration plans in light of Covid-19

- Jess Birtcher appointed Finance Manager for ICO

- Final results from 2019-20 drilling in Uganda continue to expand prospective areas – Ugandan exploration paused due to Covid-19

- Post Covid-19, Jervois restructures operational footprint, Director and Management fees

- Jervois’ strong cash position will allow it to finalise ICO BFS and maintain operational footprint for in excess of 12 months

- A$7.9 million cash as at 31 March 2020



Read more at:
https://jervoismining.com.au/wp-content/uploads/2017/11/02224372.pdf



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