MARKET DEVELOPMENT
DekelOil Gives Positive Update on Mill
DekelOil Gives Positive Update on Mill
31/12/2013 (StockMarketWire.com) - DekelOil has given a positive update on its operations including excellent progress towards final commissioning of its 60 t/hr crude palm oil extraction mill by Modipalm Engineering.
DekelOil - which is the operator and 51% owner of an established, vertically integrated palm oil project in Côte d'Ivoire - says the mill is on course to become fully operational and generate first revenues in February.
DekelOil says the mill become one of West Africa's largest with a capacity to produce 70,000 tonnes per annum.
Executive director Lincoln Moore said: "2014 will be a transformational year for DekelOil as we focus on generating material revenues from CPO production during the peak harvesting season between March and June, following a thorough soft commissioning phase.
"Achieving this exciting milestone within a year of listing on AIM will set us apart from many of our peers within the junior palm oil market, and this announcement highlights the strong progress we continue to make with regards to the construction of the mill and the implementation of our critical logistics plans.
"Further moves are in place with regards to negotiating off-take contracts and employing key personnel to oversee our operations, and we look forward to providing regular updates in the coming weeks as we unlock future value milestones and move towards becoming a leading, vertically integrated West African palm oil company."
DekelOil - which is the operator and 51% owner of an established, vertically integrated palm oil project in Côte d'Ivoire - says the mill is on course to become fully operational and generate first revenues in February.
DekelOil says the mill become one of West Africa's largest with a capacity to produce 70,000 tonnes per annum.
Executive director Lincoln Moore said: "2014 will be a transformational year for DekelOil as we focus on generating material revenues from CPO production during the peak harvesting season between March and June, following a thorough soft commissioning phase.
"Achieving this exciting milestone within a year of listing on AIM will set us apart from many of our peers within the junior palm oil market, and this announcement highlights the strong progress we continue to make with regards to the construction of the mill and the implementation of our critical logistics plans.
"Further moves are in place with regards to negotiating off-take contracts and employing key personnel to oversee our operations, and we look forward to providing regular updates in the coming weeks as we unlock future value milestones and move towards becoming a leading, vertically integrated West African palm oil company."