Last checked at 5 Jun 2008 10:57
AIM: EMED 5 June 2008
EMED Mining: US$100,000 Loan Conversion of Equity
EMED Mining Public Limited ("EMED Mining" or the "Company") announces that Yorkville Associates LLC of New Jersey USA ("YA") has issued a Conversion Notice relating to the conversion of shares pursuant to the terms of the Loan Agreement. YA will convert US$100,000 of the loan arrangements with EMED into 197,762 Ordinary Shares in the Company (at an average price of 25.5 pence per share), and these are expected to be admitted to trading on AIM on 11th June 2008.
The details of the Loan Agreement were set out in the announcement released by the Company on the 18 December 2007.
Enquiries
| EMED Mining | Fox-Davies Capital | RFC Corporate Finance | Parkgreen Communications |
| Harry Anagnostaras-Adams | Richard Hail | Stuart Laing | Justine Howarth / Ana Ribeiro |
| +357 9945 7843 | +44 (0)207 936 5230 | +618 9480 2500 | +44 (0)207 851 7480 |
| GMP Securities Europe | |||
| James Hannon | |||
| +44 (0)207 647 2803 | |||
| www.emed-mining.com | |||
| www.emed.tv |
Notes to Editors: About EMED Mining Public Limited
EMED Mining was admitted to trading on AIM in May 2005 following a placing of its shares. The Company is based in Cyprus and has a strong commitment to responsible development of metal production operations in Europe, with an initial 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 implementation of European Union and other leading-edge international standards. The Company has, from the outset, strictly implemented its Environmental & Community Policy which includes:
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 selected zones:
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 open pit bulk mining concepts. The principal targeted mineralisation style is low-grade, bulk-mineable porphyry gold. The company has announced gold discoveries at Biely Vrch, Kralova and Slatinske Lazy in Slovakia.
The mines in Cyprus and at Rio Tinto in Spain, located in the Iberian Pyrite Belt, which is probably among the best known in the world for its mineral endowment. EMED Mining's goal is to restart copper production at its projects in both of these well-endowed, historical 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 production techniques are similar in both mining districts.
EMED Mining's main prospects in Georgia are gold prospects within the Upper Racha Licence, the country's largest minerals licence with many untested prospects. The Company has confirmed gold resources at the Zopkhito Prospect and discovered high grade mineralisation at surface at other prospects (detailed in 2006 Annual Report).
Exploration areas in Turkey were vended into 32%-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.com or www.emed.tv.