Last checked at 18 Mar 2010 09:09
AIM: EMED 18 March 2010
PROPOSED DUAL-LISTING ON THE AUSTRALIAN STOCK EXCHANGE ("ASX")
EMED Mining Public Limited ("EMED Mining" or "the Company"), the AIM quoted mine development and exploration company, is pleased to report good progress on the proposed dual-listing of the Company's securities on the ASX in the second half of 2010. This follows recent consultation with the Company's advisers, institutional mining-specialist investors and the Australian Stock Exchange.
The recent introductory presentation in Australia by the EMED Mining Chairman Ronnie Beevor and Managing Director Harry Anagnostaras-Adams has been uploaded to the Company's website.
Of particular interest to the mining-specialist investment community is the European Commission's new policy of increasing Europe's production of minerals and metals. The Company reported on progress to that end in the world-class Iberian Pyrite Belt with recent large base metal mine start-ups in this part of Spain including the newly developed projects Las Cruces and Aguas Teñidas, both near to the Company's Proyecto Rio Tinto ("PRT").
Also noteworthy was the short timetable to production at PRT, once permitted, and its large growth potential both in the existing open pit mine and at depth in and around the previously worked underground mines on the Company's property. Despite this being long-recognised as one of the world's largest massive sulphide mineralisation systems, there has been almost no exploration below 250 metre depth.
EMED Mining Managing Director, Mr Harry Anagnostaras-Adams said,
"EMED Mining is recognised as having, in just five years since Company formation, assembled a metal inventory of nearly one million tonnes of contained copper and just over one million ounces of contained gold in situ in JORC-compliant resources, with potential for growth through exploration.
"Our development to date of a first-class team based at our work sites, with good projects in pro-development jurisdictions like Spain and Slovakia and, via associate KEFI Minerals plc, in Saudi Arabia and Turkey, has positioned us well.
"Copper and gold are today two of the most sought-after asset classes. And the global shortage of copper production capacity makes the Company's Proyecto Rio Tinto in particular an attractive opportunity for value adding in both the short term and longer term.
"The Company has been encouraged by the response of the mining investment community and looks forward to progressing the proposed secondary listing of its shares on the ASX later this year. The Board believes that such a listing is a natural step for the Company within the international mining investment and metal production community."
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Enquiries: EMED Mining |
Fox-Davies Capital |
RFC Corporate Finance |
Bishopsgate Communications |
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| Harry Anagnostaras-Adams | Daniel Fox-Davies | Stuart Laing | Nick Rome/ Giang Nguyen |
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| +357 9945 7843 | +44 (0)207 936 5230 | +618 9480 2500 | +44 (0)207 562 3350 |
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| www.emed-mining.com www.emed.tv
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COMPETENT PERSONS
Information in this report as regards the Rio Tinto Mine that relates to Mineral Resource estimates is based on information compiled by Mr. Pat Stephenson, BSc (Geology) and Mr. Ron Cunneen, BSc (Geology), Mr. Stephenson taking responsibility for the Mineral Resource estimates and Mr. Cunneen taking responsibility for the data on which the estimates are based. Mr Stephenson is Regional Manager, Vancouver and Principal Geologist with AMC Mining Consultants (Canada) Ltd and a full-time employee of that company. He is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr. Cunneen is Head of Exploration for EMED Mining and a full-time employee of that company. He is a Member of The Australian Institute of Geoscientists. Mr. Stephenson and Mr Cunneen have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activities which they are undertaking to qualify as Competent Persons as defined in the JORC Code.
Information in this report as regards the Rio Tinto Mine that relates to Ore Reserve estimates is based on information compiled by Mr. Andy Robb, BSc (Mining Engineering). Mr. Robb is Principal Mining Consultant with AMC Consultants and a full-time employee of that company. He is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code.
References in this report as regards the Mineral Resources or exploration results and potential in Slovakia, Cyprus or elsewhere have been approved for release by Mr. Ron Cunneen.
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Notes to Editors: About EMED Mining Public Limited
EMED Mining was admitted to trading on AIM in May 2005. The Company is committed to responsible development of metal production in Europe, with a focus on copper and gold.
The Group's region of interest are the tectonic belts spanning across Europe and over to the Middle East. The strategy is to evaluate exploration and development opportunities in several jurisdictions throughout this quality mineral belt and to promote sustainable development practices through the implementation of European Union and other international standards. The Company strictly implements its Environmental & Community Policies which includes:
·; Integrating environmental management into its 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; and
·; Communicating with community stakeholders in a responsible and transparent manner.
EMED Mining has now established a strong position in the following selected zones:
Copper in Spain: The copper-mining district of Spain is probably among the best known in the world for its metal endowment. The Company's first priority is to start-up production of its wholly-owned Rio Tinto Mine which is the largest metal deposit in Spain. The mining industry is returning to prominence in Spain's Iberian Pyrite Belt and recent initiatives include start-ups in 2009 of major base metal mines at Inmet Mining's Las Cruces Project and Iberian Minerals Aguas Teñidas Mine. Lundin Mining also operates the Aguablanca Copper-Nickel mine and Antofagasta PLC started exploration activities in 2009.
The Rio Tinto Mine site contains a fully installed and maintained operational complex - an open pit mine, copper-concentrator and waste disposal facilities. The site has been on care and maintenance since 2000 when operations were suspended due to low copper prices.
Gold in Slovakia: Exploration areas in Slovakia are centred on a cluster of volcanic centres. Low-detection geochemical methods are being applied to these areas for the first time together with bulk mining concepts for both open cut and underground projects. The Company has announced a significant gold discovery at Biely Vrch and has completed a positive scoping study on its potential development at surface and for its exploration at depth.
EMED Mining has other notable earlier-stage activities focused on copper and gold, as follows:
·; Exploration licences in the copper-mining districts of Cyprus;
·; A large mining lease in Georgia, Caucasus; and
·; A 25% shareholding in KEFI Minerals Plc which operates exploration joint ventures in Turkey and the Kingdom of Saudi Arabia.
For further information on the Company's activities, visit www.emed-mining.com or www.emed.tv