Member Info for Eagle1

A very good Article! http://elpais.com/especiales/2015/vuelta-a-la-mina/

http://www.proactiveinvestors.co.uk/companies/news/107966/emed-mining-brings-in-68mln-from-placing-as-rio-tinto-project-advances-107966.html

12 June 2015 EMED Mining Public Limited ("EMED" or the "Company") RESULTS OF PLACING PLACING TO RAISE £6.8 MILLION (US$10.5 MILLION) Further to the announcement of 28 May 2015 in which the Company announced a Capital Raising of up to £64.9 million by way of a Subscription, Placing and Open Offer, EMED is now pleased to announce the successful completion of the oversubscribed Bookbuild of the Placing element of the Capital Raising, conditionally raising £6.8 million. This is in addition to the £54.7 million already conditionally raised under the Subscription. Following completion of the Bookbuild, a total of 143,684,210 Placing Shares have been conditionally placed by Canaccord Genuity and Brandon Hill at a price of 4.75 pence per share with institutional investors to raise gross proceeds of £6.8 million (approximately US$10.5 million). The completion of the Placing, is conditional upon inter alia the approval of shareholders at the EGM of the Company to be held on 23 June 2015 and Admission of the Placing Shares to trading on AIM which is expected on 24 June 2015. The Open Offer remains open to Qualifying Shareholders and they are directed to the Circular sent to Shareholders on 29 May 2015, and available on the Company's website www.emed-mining.com, for further details. As previously announced, the Company has secured sources of short term financing and these are now deemed sufficient to meet its working capital needs up until completion of the Capital Raising and the proceeds of the Capital Raising will fully fund the Company to progress the Rio Tinto Copper Project through to 7.5 Mtpa of production as part of an expansion of Phase 1 of the project. Alberto Lavandeira, CEO of the Company, commented: "We are delighted with the support shown from existing and new investors enabling us to complete the oversubscribed Placing, which constitutes part of the Capital Raising. We continue to move closer to commissioning and look forward to commencing production in the coming months."

Trafigura Beheer B.V., ("Trafigura"), a market leader in the global commodities industry, has today announced strong financial results for the first half of its financial year ended 31 March 2015, including a record net profit and volume growth in both trading divisions, Oil and Petroleum Products and Metals and Minerals. Net profit for the period was USD654 million, an increase of 39 percent over the figure for the same period of 2014. Gross profit rose by 58 percent year-on-year to USD1.517 billion, giving a gross trading margin of 3.1 percent, double the figure in the year-ago period.  The principal contributor to the result was the Oil and Petroleum Products division, which generated gross profit of USD1.01 billion, an increase of 77 percent over the first half of 2014. But the Metals and Minerals division also delivered an improved performance, with gross profit rising 31 percent to USD509 million.

http://www.emed-mining.com/files/documents/announcements/emed_mining_-_june_2015_roadshow.pdf

http://www.metalbulletin.com/Article/3458333/EMED-Miningforgetting-the-past-marching-ahead.html#axzz3bq4R8ETa

The insurer Liberty purchase 14% of the historic Andalusian reservoir despite political uncertainty in Andalusia. Emed Mining has launched a capital increase of 65 million pounds (90 million euros) on the London Stock Exchange to finance part of its project to restart copper production at Rio Tinto mine Huelva. The big news of the operation is input as a significant shareholder of Liberty Mutual, firm turnover of $ 39.631 million (36.000 million euros) in 2014, and has 124,300 million in assets. Through its fund Liberty Metals & Mining, the US insurance group will buy shares of Emed in expanding by 23 million pounds. The search for yield in riskier insurance business to the environment of low interest rates, explains the interest of Liberty in the project Rio Tinto. Its reopening is still pending some administrative permissions at a time of great political uncertainty in Andalusia, where the formation of government is still pending agreements between various political parties after the elections in March. Emed is pending receive a grant of 8.8 million euros of the Board at the end of this year. Another part of the expansion will be signed by the three main current Emed partners: the Swiss trading firm Trafigura raw materials, the Chinese metallurgical company XGC and hedge fund Orion Mine Finance, Oskar Lewnowski property investor. These shareholders undertake to subscribe titles total 30 million pounds in the expansion. In addition, these same firms partners exchanged for shares a loan of 33 million pounds (46 million euros) which gave the company at the end of 2014. At the same time, Trafigura, XGC and Orion have secured the purchase of 100% of the production of the Rio Tinto mine for 15 years. Emed aims to extract 7.5 million tons of copper ore at Rio Tinto. After enlargement and debt swap will be the largest shareholder Trafigura Emed with 22% stake. XGC be located behind with 21.9%, Orion Mine Finance Group with 14.6% and Liberty Metals & Mining 14%. The extension also provides for placing shares for 10 million pounds to other investors in the stock market. Canaccord Genuity brokers and Brandon Hill will be responsible for finding interested buyers. http://www.expansion.com/empresas/2015/05/29/556809ac268e3e81518b456b.html

EMED Mining Public Limited ("EMED" or the "Company") Subscription, Placing and Open Offer to raise approximately £64.9 million (US$95.1 million) ("Capital Raising") at 4.75 pence per share ("Issue Price") Capitalisation of Bridge Loan and Convertible Loan Notes EMED Mining Public Limited, the Europe-based minerals development and exploration company, is pleased to announce that it is proposing to raise up to £64.9 million (US$95.1 million) (before expenses) by the issue of up to 1,366,203,821 New Ordinary Shares at an Issue Price of 4.75 pence per share. The Board is seeking to effect the Capital Raising by way of a Subscription, Placing and Open Offer. The Subscription comprises a subscription of 1,150,526,314 Subscription Shares by three existing cornerstone investors, Orion, Trafigura and XGC and one new further cornerstone investor, Liberty Metals & Mining, and is expected to raise gross proceeds of £54.7 million (US$80.1 million) in aggregate for the Company. The Placing is being made by way of a placing of up to 143,684,210 Placing Shares by Canaccord Genuity Limited ("Canaccord Genuity") and Brandon Hill Capital Limited ("Brandon Hill") (together the "Bookrunners") with institutional investors and is expected to raise gross proceeds of up to £6.8 million (US$10.0 million) in aggregate for the Company. The Open Offer is being made so as to enable Qualifying Shareholders to participate in the Capital Raising and will comprise up to 71,993,297 Open Offer Shares which will be offered pro rata to their existing holdings of, or entitlements to, Existing Ordinary Shares. In addition, amounts owed by the Company pursuant to the previously announced Bridge Loan and Convertible Loan Notes are being satisfied by the issue of 694,316,864 New Ordinary Shares at the Issue Price. The Placing is subject to the terms and conditions set out in the Appendix, which form part of this announcement. The Placing will be conducted by way of a marketing and bookbuilding process (the "Bookbuild") and the book will open with immediate effect and is expected to stay open for a period of approximately 10 business days. The timing of the closing of the book, allocations and the announcement of the results of the Placing is at the discretion of the Bookrunners in conjunction with the Company. The Company has entered into a placing agreement (the "Placing Agreement") with Canaccord Genuity and Brandon Hill on customary terms and conditions and pursuant to which the Bookrunners will use reasonable endeavours to procure Placees for the Placing Shares. The Placing is not underwritten. Potential investors who participate in the Placing will receive an allocation of Placing Shares at the discretion of Canaccord Genuity and Brandon Hill in conjunction with the Company. The New Ordinary Shares will be credited as fully paid a

A little birdy just informed me all done and dusted at EMED just awaiting signatures after legal teams go over the final draft documentations.....That's all I know dont hold me to it and dont know what documentations etc and birdy won't clarify any further.....hmm let's see what the coming days or weeks bring.....are we in for a suprise......

NEW YORK/LONDON – US mining financier Oskar Lewnowski is preparing to launch a base and precious metals fund, sources say, his latest step in recreating the famed trading and investment enterprise he co-founded a decade ago, Red Kite. http://www.miningweekly.com/article/red-kite-co-founder-plans-new-orion-metals-fund-sources-2015-05-22

AMSTERDAM, 22ND MAY 2015 Trafigura Beheer B.V., a market leader in the global commodities industry, today announced that Jeremy Weir, Chief Executive Officer, is assuming responsibility for the Metals and Minerals Trading division. This follows the departure of Simon Collins, head of the Division and a Management Board member since August 2012, who has resigned for personal reasons. Commenting on the change, Jeremy Weir said: “We are grateful to Simon for the contribution he has made to the development of our Metals and Minerals business over the past nine years, notably in helping to develop a leading trading business in China, the world’s most important market for non-ferrous and bulk commodities. The Metals and Minerals division continues to expand its activities and with an experienced management team deliver robust, profitable growth.”  Weir was appointed Trafigura CEO in March 2014, having joined the Group 2001 as head of metals derivatives and served in a variety of Management Board roles.  

20 May 2015 EMED Mining Public Limited ("EMED" or the "Company") Financing Update Further to the announcements made on 5 May 2015 and 8 May 2015, the Company provides the following update regarding both the financing for the continued development of its Rio Tinto Copper Project and its current working capital position. As previously announced, the Company has agreed non-binding terms with regard to an equity financing structure with several parties principally including its three major shareholders, being Trafigura Beheer BV ("Trafigura"), Orion Mine Finance (Master) Fund I LP ("Orion") and Hong Kong Xiangguang International Holdings Limited ("Hong Kong Xiangguang"), an affiliate of Yanggu Xiangguang Copper Co. Limited ("XGC"). The Company is in advanced stages of finalising the definitive documentation with these parties and will provide a further update in due course. Separately, the Company has secured additional sources of working capital and continues to expect that its working capital position is sufficient to meet its needs over the next three to four weeks while financing documentation is finalised. The Company will continue to monitor its expenditures and review additional sources of short term capital should it be needed prior to concluding the larger fundraising package. Alberto Lavandeira, CEO of the Company, commented: "We are working hard to finalize the documentation regarding the financing structure and remain busy on the ground aiming to start full plant commissioning later this summer."

EMED Mining Narrows Annual Loss, Sets Rio Tinto Financing Terms LONDON (Alliance News) - EMED Mining Public Ltd late Friday posted a narrowed pretax loss for 2014, and said it plans to enter into a binding agreement by mid-May on long-term financing with its three largest shareholders for the continued development of the Rio Tinto copper project in Spain. The company posted a pretax loss of EUR11,230 for 2014, narrowed from a loss of EUR12,509 a year before, as gains from the sale of investments offset a rise in care and maintenance expenses. The Europe-based minerals development and exploration company agreed non-binding terms with Trafigura Beheer BV, Orion Mine Finance (Master) Fund I LP and Hong Kong Xiangguang International Holdings Ltd, an affiliate of Yanggu Xiangguang Copper Co Ltd, about a long-term financing package for the project on Tuesday. EMED said it continued to focus on the restarting of the mines at the Rio Tinto project. It has completed the selection and hiring of operational personnel, and infill drilling campaigns are in progress. It was granted a mining permit and approval of its rehabilitation plan during the first quarter of 2015. It has submitted an application for a license to initiate mining activities in March. Shares in EMED closed at 5.00 pence Friday, unchanged.

http://www.investegate.co.uk/emed-mining-public--emed-/rns/final-results/201505081708207011M/

Expansion Plans, Yes I agree this is either a hint or a slip up as they know the test results could be better than expected!

Alberto Lavandeira, CEO of the Company, commented: "We continue to progress our discussions with a view to concluding the financing structure that will enable the Company to complete Phase 1 of our development and production programme, following which the focus will be on expansion plans. We remain on track to commence production as planned and look forward to updating the market as we work towards restarting operations at this historic project."

5 May 2015 EMED Mining Public Limited ("EMED" or the "Company") Financing Update and Notice of Results Further to the announcement made on 30 March 2015, the Company would like to provide an update regarding both the financing for the continued development of its Rio Tinto Copper Project ("Proyecto Riotinto"), its current working capital position and also a notice of its results for the year ended 31 December 2014. Financing Update The Company remains in dialogue with its three largest shareholders, being Trafigura Beheer BV ("Trafigura"), Orion Mine Finance (Master) Fund I LP ("Orion") and Hong Kong Xiangguang International Holdings Limited ("Hong Kong Xiangguang"), an affiliate of Yanggu Xiangguang Copper Co. Limited ("XGC") (Trafigura, Orion and Hong Kong Xiangguang being the "Strategic Investors") with regard to a long term financing solution for the continued development of its Rio Tinto Copper Project. The Company has agreed non-binding terms with regards to an equity financing structure with several parties principally including the Strategic Investors (the "Financing") and intends to enter into binding documentation by mid-May 2015. Working Capital Update Further to the working capital update provided on 30 March 2015, the Company continues to monitor expenditures, and expects that its working capital position is sufficient to allow it time to enter into binding definitive documentation for the Financing. The Company has a number of potential sources of short term financing for working capital purposes which the Board continues to evaluate should this be needed. Results for the year ended 31 December 2014 The Company anticipates publishing its financial statements for the year ended 31 December 2014 on 8 May 2015.

http://www.cuatro.com/practica-cuatro/Jesus-Calleja-Volando-tecnologico-Espana_0_1976100258.html As first destination, Jesus Calleja will fly to Rio Tinto Mine , Huelva, one of the graves of pyrite world's leading and largest deEuropa enclave which is under study by the European Space Agency for its similarity to the topography of Mars.

Quote:- "I'm shocked the place, looks like another planet! No wonder NASA is doing research on the newly discovered bacteria in the environment incompatible with life. They think it's the closest thing to life can exist on Mars. http://www.huelvainformacion.es/article/huelva/2020009/calleja/sobrevuela/la/cuenca/minera.html

EMED Mining's (LON:EMED) shares advanced Tuesday morning as speculative investors found encouragement in Trafigura’s apparent appetite for acquisitions. The commodity trader, already EMED’s largest shareholder with 19.3%, will most likely increase its asset base in the mining sector according to chief executive Jeremy Weir. As Trafigura sought €550mln from the bond market, to fund expansion and acquisitions, Weir revealed that the trading firm intends to increase ownership of physical commodity assets. Trafigura has long been viewed as a potential buyer of EMED in certain corners of the market. It is one of EMED’s main funding partners and already has its own copper ore processing facilities a short distance from EMED’s flagship Rio Tinto mine redevelopment. Earlier this month Trafigura – along with two other cornerstone lenders – agreed to extend a bridging loan to EMED allowing the AIM firm time to work on longer term financing arrangements for the copper mine which is due online later this year. EMED shares gained 0.38p, 8.3%, to trade at 4.88p. http://www.proactiveinvestors.co.uk/companies/market_reports/79516/ftse-100-5-points-lower-emed-higher-after-trafigura-comments-79516.html