eEnergy Group Regulatory News (EAAS)

14 Dec 2009 16:19



14 December 2009

Alexander Mining plc

("Alexander" or the "Company")

Additional Listing

Further to the Company's announcement on 27 November 2009, application has been made to the London Stock Exchange for 451,875 new ordinary shares of 10p each in the capital of the Company to be admitted to trading on AIM ("New Ordinary Shares"). The New Ordinary Shares are to be issued to Somerley Limited ("Somerley") as payment of the engagement fee pursuant to which Somerley has agreed to act as the Company's financial adviser in connection with fining a Chinese mining partner to finance a potential major base metals transaction, which is subject to a competitive tender process. The New Ordinary Share will when issued rank pari passu with the Company's existing issued ordinary shares. Dealings in the New Ordinary Shares are expected to commence on 18 December 2009 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise 135,486,542 ordinary shares with voting rights. The Company does not hold any shares in treasury. This figure of 135,486,542 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

For further information please contact:

Alexander Mining plc

Martin Rosser, Chief Executive Officer

Tel: +44 (0) 20 7292 1300 

Arbuthnot Securities Limited 

Alasdair Younie/John Prior 

Tel: +44 (0) 20 7012 2000 

Background notes for editors 

Alexander Mining plc 

Alexander, through its wholly owned subsidiary MetaLeach Limited, is solely focused on the commercialisation of its proprietary mineral processing technologies. Alexander has already received test-work payments and the pipeline of amenability test-work programmes is increasing steadily. A major campaign to grow this revenue stream is under way, with the aim of securing future royalties and/or free carried equity interests in attractive base metals projects and/or mines. 

AmmLeach, for which patents are pending, has the potential to revolutionise the extraction processes for high acid consuming copper and zinc oxide deposits. The operating cost differential between AmmLeachand conventional heap leaching treatment methods for high sulphuric acid consuming ores and the AmmLeach ammonia process is a significant order of magnitude in AmmLeach's favour. 

The AmmLeach process was developed as a result of Alexander's successful pilot plant demonstration at its Leon copper project in Argentina and subsequent research and development. As well as copper oxides, AmmLeach has excellent potential for developing a new SX-EW process for producing high purity zinc metal or an intermediate product at the mine. 

The zinc process has been trialled successfully on a bench scale and larger scale test-work is imminent. The AmmLeach process leaches common zinc oxide minerals with high extraction efficiencies and offers a potentially economic processing route for many zinc oxide deposits that are currently economically unviable.

END