Atalaya Mining Regulatory News (ATYM)

26 Jun 2007 07:02

EMED Mining Public Limited26 June 2007 AIM: EMED 26 June 2007 EMED Mining Public Limited announces Board changes and appointment of a new nominated adviser EMED Mining Public Limited ("EMED Mining" or "the Company") announces thefollowing: •Appointed Dr Michael Price to the Board of Directors. Dr Price is former joint global head of mining finance for Barclays Capital. He has extensive experience in financing of mining projects and he has worked with governments, mining companies and financial institutions around the world; •Appointed as Nomad, RFC Corporate Finance Limited, a specialist corporate adviser to the natural resources industry that currently acts as Nomad to 15 natural resources companies; •Agreed to issue 250,000 new ordinary shares to Halliday Management Services ("Halliday") in consideration for the provision of services in relation to systems support. In addition the Company has agreed to grant options over 1,250,000 new ordinary shares as follows: 500,000 to Dr Price at 17p per share, 500,000 to RFC at 18.66p per share and 125,000 to Halliday at 17p per share. Further details are set out below in this announcement. Dr Andreas Panayiotou has stepped down as Non Executive Director of the Company.Dr Panayiotou has made an invaluable contribution in the establishment of EMEDMining since joining at the Company's flotation. Ronnie Beevor, Chairman of EMED Mining said: "Today's changes reflect some ofthe Company's preparations for the anticipated expansion during the next 12months. It is indeed a great privilege to work with leaders such as DrPanayiotou and with the organisations and individuals who have just joined ourteam at EMED Mining. Along with our continued progress in Slovakia, Spain and inour other countries we look forward to a long and successful time ahead for theCompany." -Ends- Enquiries EMED Mining RFC Corporate Finance Parkgreen CommunicationsHarry Anagnostaras-Adams Stuart Laing Clare Irvine / Justine Howarth+357 9945 7843 +618 9480 2500 +44 20 7851 7480www.emed-mining.com---------------------www.emed.tv------------- Board Changes The Company has today announced the appointment of Dr Michael Allan Price (aged51) as a non-executive director of the Company. Dr Price is an independentmining finance consultant. He has more than 30 years experience in mining andmining finance and he has served on the boards of several mining companiesincluding AIM listed Tertiary Minerals plc and Monterrico Metals plc. Michaelhas BSc and Phd qualifications in mining engineering and he is a Chartered andEuropean Engineer. His previous work experience includes periods at BritishPetroleum plc, NM Rothschild & Sons Ltd, Societe Generale and Barclays Capitalwhere he held various senior executive positions. In the past 5 years, Dr Price holds or has held the following positions where hewas acting in the capacity of a director: Current Directorships Past DirectorshipsGV Gold Monterrico Metals plc (resigned August 2006)Central Asia Metals Ltd Tertiary Minerals plc (resigned April 2002)Canisp Consulting Ltd Crew Gold Inc (Toronto) (resigned October 2005)Ridgway Mining Ltd Save for the grant of the option referred to below, Dr Price has no interest inthe Company's ordinary share capital. There is no other information that isrequired to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules. In addition, Dr Andreas Panayiotou has stepped down as a non executive directorof the Company. Appointment of New Nomad The Company has today appointed RFC Corporate Finance Limited ("RFC") as its newNomad. RFC is, a specialist corporate adviser to the natural resources industrythat currently acts as NOMAD to 15 natural resources companies. The Company's existing Nomad has resigned with effect from today. Share Issues and Option Grants: The Company has agreed to issue 250,000 new ordinary shares to HallidayManagement Services ("Halliday") in consideration for the provision of servicesin relation to systems support. The new ordinary shares to be issued to Halliday are expected to be admitted totrading on AIM on or around 26 June 2007. The new ordinary shares will rank paripassu with the existing shares of the Company. Following this allotment, thetotal issued share capital of the Company will increase to 126,310,432 ordinaryshares. In addition the Company has agreed to grant an option to Dr Price over 500,000new ordinary shares at an exercise price of 17p per share (exercisable at anytime up until 25 June 2013). The Company has also agreed to grant an option toRFC over 500,000 new ordinary shares at an exercise price of 18.66p per share(exercisable at any time up until 25 June 2010) and an option to Halliday over125,000 new ordinary shares ("Halliday Option Shares") at an exercise price of17p per share. The Halliday Option Shares are currently exercisable in respectof a total of one third of the Halliday Option Shares, two thirds of theHalliday Option Shares after one year and all the Halliday Option Shares aftertwo years. Notes to Editors: About EMED Mining Public Limited EMED Mining was admitted to trading on AIM in May 2005 following a placing ofits shares. The company is based in Cyprus and has a strong commitment toresponsible development of metal production operations in Europe, with aninitial focus on copper and gold. The Company has moved rapidly reflecting the experience of its specialist teamand the clarity of its strategy. The Group's region of interest are the tectonic belts spanning across Europe andover to Iran. The strategy is to evaluate exploration and developmentopportunities in several jurisdictions throughout this quality mineral belt andto promote sustainable development practices through implementation of EuropeanUnion and other leading-edge international standards. EMED Mining recentlyco-hosted with the Green Party of Cyprus an international conference onResponsible Mining and Environmental Management. The Company has, from theoutset, strictly implemented its Environmental & Community Policy whichincludes: • Integrating environmental management into our business, planning and reporting processes. • Promoting a strong environmental ethic throughout the company and the community. • Complying with, as a minimum, all applicable local and European Union laws and regulations. • Communicating with community stakeholders in a responsible and transparent manner. EMED Mining has now established a strong position in the following selectedzones: • Spain/Cyprus It is now EMED Mining's goal to restart production in both of these well-endowed mining districts. Both Spain and Cyprus are progressive members of the European Union and EMED Mining has been made to feel welcome in both host countries. The styles of mineral deposits and of production techniques are similar. • Slovakia/Romania exploration areas are centred on a cluster of volcanic centres in Slovakia and Romania. Low-detection geochemical methods are being applied to these areas for the first time together with open pit bulk mining concepts. The targeted mineralisation styles are high-grade epithermal gold, or bulk-mineable epithermal gold and porphyry copper-gold. The company has announced a gold discovery at Biely Vrch in Slovakia which is a major priority for 2007. • Georgia/Central Asia exploration areas form a cluster of gold prospects centred in Georgia. EMED Mining's main prospects are within the Upper Racha Licence, the country's largest minerals licence with many untested prospects. The Company has confirmed Russian Resources of 1.0 million ounces gold at the Zopkhito Prospect and discovered high grade mineralisation at surface at other prospects. (please see full details in Annual Report 2006 announcement from 19 February 2007). • Turkey/Bulgaria exploration areas were sold to 34%-owned KEFI Minerals Plc which was admitted to AIM in December 2006. KEFI Minerals owns carefully selected licence areas in Turkey, as well as an extensive proprietary database of regional and specific exploration data providing a pipeline of further projects to evaluate. The KEFI Minerals team has mobilized into the field to explore the company's tenements and to expand the portfolio of licenses as opportunities warrant. See www.kefi-minerals.com. For further information on the Company's activities, visit www.emed-mining.comor www.emed.tv. This information is provided by RNS The company news service from the London Stock Exchange