| EMED Mining Public Ltd ("EMED Mining", "EMED" or the "Company") Quarterly Operations Update | |
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NICOSIA, CYPRUS--(Marketwired - Oct 8, 2014) - EMED Mining Public Limited (AIM: EMED) (TSX: EMD), the Europe-based minerals development and exploration company, is pleased to announce an operations update for the three months ended 30 September 2014. Highlights - £13.1m successfully raised via a subscription agreement with cornerstone investors
- Expanded workforce in place with over 220 people mobilized and working on site
- Potential start-up capital expenditure reductions of US$50M targeted as part of ongoing review
- Key components of process plant and infrastructure undergoing refurbishment
- Progress made on instrumentation and electrical engineering
- Continued drilling to optimise first five years of production
- Mine contractor appointed
- Final permitting remains on track with the Mining Permit expected to be received before year end
Isaac Querub, CEO of EMED Mining, commented: "This was an exceptionally productive period for the Company and the rapid scale up of operations and strengthening of key relationships sets us well on the way to achieving production as planned. I am delighted with the development and continued progress in obtaining the mining permit and final restoration plan and we remain confident that we will receive the final permits before year end. I would very much like to thank our growing team and look forward to providing further updates." During the quarter the Company continued onsite preparations at the Rio Tinto Copper Project ("Proyecto Riotinto") focusing on ensuring that process plant and infrastructure refurbishment and development continued at pace ahead of the scheduled restart of the mine, which management believes can now be achieved in Q4 2015. As such, the Company further strengthened its workforce and supply chain while management continued to work closely with the Junta ahead of receiving final permitting, which as previously announced, is expected later this year. Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/7110T_1-2014-10-7.pdf
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EMED Mining Public Ltd
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DEVELOPMENT STAGE |
CODE : EMED.L |
ISIN : CY0000100319 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
EMED is a gold and copper development stage company based in Cyprus. EMED develops gold, copper and zinc in Cyprus and in Spain, and holds various exploration projects in Cyprus. Its main assets in development are PROYECTO RIO TINTO in Spain and KLIROU in Cyprus and its main exploration properties are DETVA, STIAVNICA-HODRUSA and BIELY VRCH in Slovakia and KLIROU in Cyprus. EMED is listed in United Kingdom. Its market capitalisation is GBX 54.7 billions as of today (US$ 65.5 billions, € 57.4 billions). Its stock quote reached its lowest recent point on September 18, 2015 at GBX 0.12, and its highest recent level on January 17, 2022 at GBX 404.00. EMED has 135 475 650 shares outstanding. |