EMED.L Share News (EMED)

EMED Mining, a Europe-based minerals development and exploration company, announced Monday that independent technical expert Behre Dolbear has completed an updated NI 43-101 technical report on its Rio Tinto Copper Project. The report endorsed EMED's planned base case annual production of existing ore reserves at 9.0m tonnes per annum over 14 years from the Cerro Colorado deposit, which is the first it plans to bring on production. The report also stated that there was exploration potential peripheral to the Cerro Colorado deposit which is open to the east and at depth, which potentially provides scope to grow the resource and expand operations, including the development of other mines within the existing permit areas.EMED's plan to restart the project as soon as approval has been made was given the thumbs up by the report. The group's plans to redevelop the project include processing 9.0m tonnes of ore per year to produce around 37,000 tonnes of copper-in-concentrate.The share price fell 7.77% to 11.88p by 14:50.NR