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Watermark Global

  • BY: Andrew Hore |
  • POSTED: 30/10/2009 |

Watermark Global says that the definitive feasibility study for its acid mine drainage project in South Africa has been completed.

Shares in Watermark Global rose 0.15p to 1.35p each, which values the water treatment company at £9.28m.

The study by Golder Associates has validated the project’s viability at a total cost of R1.52bn. There is 155 mega litres of water that could be treated each day.

A formal off-take agreement with Rand Water should be completed before the end of 2009. The Environmental Impact Assessment should be completed in February 2010. Negotiations continue with Black Economic Empowerment partners.

The construction of the plant is expected to start in the second quarter of 2010, assuming finance is in place by March 2010. The plant could then start production in 2011.

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