On 11 June 2020, Shane Crooks and Mark Shaw, partners at BDO LLP, were appointed as joint administrators of North River Resources plc. No orders can be made or goods/services accepted without the authorisation of the joint administrators. If you have any outstanding invoices due for payment by North River Resources plc, please provide your details to the joint administrators’ team. The joint administrators can be contacted via email BRCMT@bdo.co.uk.

The joint administrators will be publishing a report within 8 weeks of their appointment providing details on the events leading up to their appointment and the strategy of the administration. In the meantime, please find below some information regarding the events leading up to the appoint of the joint administrators:

  • The main asset of North River Resources plc it its holding in NLZM, a lead and zinc mine operating in Namibia. The mine is currently in a temporary care and maintenance mode;
  • North River Resources plc funded NLZM to ensure the continuance of operations and the protection of its asset;
  • Due to the current situation, the shareholder funding North River Resources plc sought a consensual restructuring of the debt and equity of the company. Unfortunately an agreement was not possible between the shareholders of North River Resources plc.
  • The funding of North River Resources plc was withdrawn and the Board of the company resolved to place the company into administration.

The joint administrators are currently reviewing the options available with a view to maintaining NLZM in care and maintenance mode whilst running a sale process for the shares in NLZM. All interested parties are welcome to contact the administrators.


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North River Resources is a mineral exploration, development and mining company active in Namibia and Mozambique. The Company has re-opened its flagship asset, the Namib Lead & Zinc Mine, a fully permitted mine near Swakopmund in Namibia. After commencing construction in early 2018, the plant was commissioned in April 2019 and first sales of concentrate were done completed in August 2019.

The project has a current JORC resource of 1,120,000 tonnes, with resulting underground in situ metal inventory of:

25,900 tonnes of lead 74,200 tonnes of zinc 1.66 million ounces of silver NRR proposes a staged mine production development, with a reduced construction capital, ramping up in accordance with the resource expansion resulting from ongoing exploration activities.

The mine has an 8-year mine plan proposed on a mining inventory of 885kt of ore mined.

The project has a JORC compliant Probable Ore Reserve of 611,000t ore containing 6.6% zinc and 2.3% lead. The project received a 10-year Mining Licence from the Ministry of Mines and Energy in May 2017.

Milestones:

A list of NRR Milestones:

1) Obtained the Mining License
2) Funding Secured and company recapitalized
3) Project started
4) Plant commissioning started
5) First Production
6) Ore tonnes 10 000t plan achieved
7) First Pb sales
8) First Zn sales
9) Plant milled tonnes reach 8 500 per month
2017
March 2018
April 2018
April 2019
May 2019
August 2019
August 2019
Sept 2019
Sept 2019