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DJ Clean Invest Africa Plc CASA Investment Update

 
TIDMCIA 
 
20 May 2020 
 
                              Clean Invest Africa 
 
                            CASA Investment Update 
 
Clean Invest Africa plc (AQSE: CIA) is pleased to provide an investor update 
regarding its current holding in the CoalTech Group of Companies. 
 
Highlights 
 
  * Formal cooperation agreement with a Southern African based business which 
    shows 4 promising opportunities in neighbouring African countries. 
  * CASA to resume limited operations. 
  * Completion of 3 testwork programs producing in excess of 12tonnes of bulk 
    sample of dried, waterproofed pellets for 3 local clients. 
  * Future testwork and production of various anthracite samples for both local 
    and overseas based clients. 
 
 
Background 
 
CASA to resume limited operations 
 
The original 3 week Lockdown Directive announced by the South African 
Government was subsequently extended past the original deadline of 16th April 
2020 with no specific end date in mind. The Lockdown will now be lifted 
gradually in phases, which will depend on the levels of infection in the 
country, and may differ from area to area. As such, CASA applied for, and was 
granted Essential Service Provider status, which allows the company to resume 
limited operations, whilst at the same time still adhering to the broader 
lockdown regulations. On the back of this Essential Service Provider status, 
all CASA staff have been issued with certificates to allow them to travel to 
and from site. The start up of the plant and associated testwork programs will 
be based on the following schedule: 
 
 1. Site specific lockdown requirements (monitoring/screening of staff, health 
    protocols etc) to be in place by 18th May 2020. 
 2. Critical equipment arriving back on site during week starting 18th May 
    2020. 
 3. Completion of testwork program producing 350kg of dried, waterproofed 
    pellets for delivery to local client by 29th May 2020. 
 4. Completion of testwork program to produce a 10kg sample of dried, 
    waterproofed pellets for subsequent preliminary quality control testwork, 
    prior to the completion of a 6t bulk sample of final product. Deadline 
    still to be confirmed with the locally based client. 
 5. Completion of testwork program to produce a 6t bulk sample of dried, 
    waterproofed pellets. Deadline still to be confirmed with the locally based 
    client. 
 6. Planning and initiation of testwork and production of various anthracite 
    samples for both local and overseas based clients. 
 
In the meantime, the CASA team has been working remotely during the lockdown, 
mainly on further developing Marketing and Business Development Opportunities, 
and as such have entered into a formal cooperation agreement with a Southern 
African based business which shows 4 promising opportunities in neighbouring 
African countries: 
 
 1. Three "captive" plants producing pellets for the client using the client's 
    feed material (Two in Zimbabwe and one in Swaziland) 
 2. A plant producing pellets for a proposed 300MW Power Plant (Swaziland) 
 
CASA are confident, notwithstanding the long lead times, that they can turn 
these types of opportunities into commercial contracts and expand further in 
both South Africa and via Coaltech, globally. 
 
Forward Looking Statements 
 
This announcement contains forward-looking statements relating to expected or 
anticipated future events and anticipated results that are forward-looking in 
nature and, as a result, are subject to certain risks and uncertainties, such 
as general economic, market and business conditions, competition for qualified 
staff, the regulatory process and actions, technical issues, new legislation, 
uncertainties resulting from potential delays or changes in plans, 
uncertainties resulting from working in a new political jurisdiction, 
uncertainties regarding the results of exploration, uncertainties regarding the 
timing and granting of prospecting rights, uncertainties regarding the 
Company's ability to execute and implement future plans, and the occurrence of 
unexpected events.  Actual results achieved may vary from the information 
provided herein as a result of numerous known and unknown risks and 
uncertainties and other factors. 
 
The Directors of the Company accept responsibility for the content of this 
announcement. 
 
 
ENQUIRIES: 
 
Company 
 
Clean Invest Africa PLC 
 
Filippo Fantechi - Chief Executive Officer 
Telephone: +973 3 9696273 
 
Corporate Adviser 
 
Peterhouse Capital Limited 
 
Guy Miller 
 
Telephone: 020 7220 9795 
 
 
 
END 
 

(END) Dow Jones Newswires

May 20, 2020 04:26 ET (08:26 GMT)