EMED Mining Public Ltd

Published : July 05th, 2012

poised to woo back investors

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Good Morning, Please see below a recent article from HighGrade regarding EMED Mining's project Rio Tinto. EMED poised to woo back investors AFTER years of back and forth, the Andalusia Government finally passed the approval process for the Proyecto Rio Tinto copper project over to the people last month, with the release of the restart’s environmental impact statement for public comment. If a chronically unemployed public continues its longstanding support, this 30-day process should help smooth the way forward for EMED Mining to receive its final approvals in September. The government will table any queries for EMED to address but given the public is behind the project and the incumbent socialist party was only re-elected after promising to permit PRT by the end of the current quarter, it is difficult to envisage any serious roadblocks. PRT has been a political football in the Spanish province of Andalusia and barely crawled toward production during EMED’s first four years of ownership (since 2007). But economic hardship culminating in a local unemployment figure of more than 30% reversed the company’s fortunes last year, as public pressure forced the government to actively support the project. Then, in the lead up to elections in March, demand for the restart saw the two leading candidates fighting over who was more ‘Pro-PRT’. “The Environmental Impact Statement is a document that has been going back and forth between the company and the local authorities,” Fairfax analyst Carole Ferguson told HighGrade. “There’s been a huge meal made out of a whole load of things. “The company has set a timeline to get this whole thing approved but that has always had a tendency to slip, which has been frustrating for them and the market. But I think if they can get public approval for the environmental permits they should start getting the other approvals into place.” Technical approval is progressing in parallel with the environmental permitting and will come from a handful of national review agencies. Technical assessment centres on the geotechnical stability of the tailings facility and controls on acid drainage. There is a third piece of paper called the Administrative Standing, which is essentially a mining licence, also being processed. “The government has said it will approve all three things at the same time so they’ll get their AAU (Environmental Impact Statement), technical review and Administrative Standing approvals in one presentation,” Fox Davies analyst Peter Rose told HighGrade. “Investors will know that the project is for real at that point and, assuming the copper price is still half decent, that’s when they press the GO button.” Ferguson agreed that final approvals would reignite investor interest, adding that EMED would provide the market with one of the few copper options at the junior end of town. She also speculated that there was plenty of blue sky in the resource that was being overlooked while the permitting was ongoing. “There’s no doubt about the quality of the project and of the resource,” she said. “Our view is that there’s more potential for the resource than is in the public domain.” PRT will be a 15 million tonnes per annum open pit copper operation based on current resources and reserves of 205Mt and 120Mt, respectively. Plans are in place to increase these to more than 300Mt and 200Mt within a year of project approval. “They haven’t had the opportunity to do any drilling as yet and these deposits have a habit of being quite large so that’s one of the reasons we’re enthusiastic,” Ferguson said. “The important thing is that there’s little value being given to current resource.” Once permits are granted, the upgrade of existing processing equipment and the preparation of the open pit can start with the goal of producing concentrate late next year. The only potential blockage for EMED is the negotiation over land procurement for the tailings facility. Rose said this issue could bring the project forward by six months if it goes smoothly or push it back by six months if it proves impassable and the company is forced to invoke an expropriation facility available under the Administrative Standing. The project is fully funded through to production and has enough working capital to cope with a further delay but those funds are not infinite. EMED is in talks with landowners at the moment and it is believed that the amount being offered for the land in question is well above the price that will be paid if expropriation is needed but well short of what it will cost the company if the project suffers further setbacks. Logic would therefore suggest that an agreement will be reached without the need for intervention. Nobody who has spent any time with EMED managing director Harry Anagnostaras-Adams would suggest for a moment that he will be doing anything apart from ploughing all his energies into the permitting, landowner negotiations and generally preparing for the restart. But once PRT is up and running and Anagnostaras-Adams gets a chance to peek over the parapet, it’s likely he’ll like the look of his new company. Besides graduating from a development story plagued by disappointment to one of the market’s only junior copper producers, EMED will have the time and money to explore its options at its Biely Vrch project in Slovakia where it has been taking measured steps towards development of a 60,000 ounce per annum gold mine. The two obvious options in front of the company will be to keep that project within the group or release it through either a separate listing when markets become more cooperative or a straight sale. There are arguments for both retention and release. Rose said he understood the logic behind a separate listing of the gold asset but personally would like to see it kept in the group to spread the risk. He said the premium that usually applied to gold stocks seemed to have vanished into thin air of late and until it returned it would be difficult to recommend a spin-off. Rose also said that copper and gold complemented each other well and several of the major gold mining groups had moved to include greater quantities of copper in their production profiles. Ferguson was slightly more bullish on the idea of a separate listing or sale once PRT was operational, reasoning that any other asset in the portfolio was likely to be completely overshadowed. However, she said any deal would have to be offered on the “right” terms because Biely Vrch was, after all, a solid gold prospect and currently costs EMED very little to maintain. For Agnostaras-Adams, who has spent five years battling socialists and markets, how best to configure his copper and gold assets will be a Hollywood problem.

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EMED Mining, 1 Lambousa St Nicosia 1095 Cyprus
Data and Statistics for these countries : Cyprus | Slovakia | All
Gold and Silver Prices for these countries : Cyprus | Slovakia | All

EMED Mining Public Ltd

DEVELOPMENT STAGE
CODE : EMED.L
ISIN : CY0000100319
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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.

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Corporate Presentations of EMED Mining Public Ltd
3/19/2007Research Reports on EMED Mining
Annual reports of EMED Mining Public Ltd
Annual report 2007
Financings of EMED Mining Public Ltd
3/27/2015: Extension of Repayment of Loan and Convertible Notes and F...
Nominations of EMED Mining Public Ltd
9/27/2013: Appointment of Director
11/14/2008APPOINTMENT OF LEAD-ARRANGER FOR FINANCING
9/17/2007Raises £3.3 Million Net, Signs Funding Agreement, Appointmen...
9/14/2007raises £3.3m, signs funding agreement, appoints joint broker
Financials of EMED Mining Public Ltd
11/11/2013Quarterly Financial Statement
5/14/2013: Quarterly Financial Report
8/11/2011HALF YEARLY REPORT
Project news of EMED Mining Public Ltd
2/20/2014receives Dictamen Ambiental for the Rio Tinto project
12/18/2013he Rio Tinto Copper Project
9/17/2013Rio Tinto Project update by Harry Adams
9/16/2013Rio Tinto Project Update
6/13/2013secures $15m for Rio Tinto project
5/23/2013Permitting Progress Update for Commencement of Site Works at...
2/18/2013has completed an updated NI 43-101 Technical Report
10/18/2012on Progress at Rio Tinto Copper Project
8/31/2012Completion of acquisitions of remaining land needed for Rio ...
8/3/2012acquired remaining land needed for Rio Tinto Copper Mine
7/9/2012tain land plots
12/5/2011directed to introduce integrated envrionmental management o...
10/12/2011Political Support for Rio Tinto Mine
5/17/2010(Proyecto Rio Tinto)Update
3/3/2010(Biely Vrch)Biely Vrch and Slovakia gold exploration update
2/10/2010(Proyecto Rio Tinto)Preliminary Review Issued by Ministry of Environment
2/2/2010(Proyecto Rio Tinto)Restart of Rio Tinto Mine
11/24/2009(Proyecto Rio Tinto)Rio Tinto Mine start-up - Permit processes move forward
7/2/2009(Proyecto Rio Tinto)Rio Tinto Mine - Copper Project Update: Continued Progress T...
1/7/2008(Klirou)Update on Klirou Copper-Zinc Project and Other Opportunities...
1/7/2008(Klirou)Cyprus Project Update
2/15/2007 Positive Feasibility Study
5/22/2006(Klirou)Copper resource identified in Cyprus
3/27/2006(Klirou)acquires 100% of Tamari Llc in Georgia
Corporate news of EMED Mining Public Ltd
11/2/2015Receipt of Claim from Astor Management AG
10/21/2015Change of Name and Consolidation of Ordinary Shares
9/11/2015NOTICE OF EXTRAORDINARY GENERAL MEETING ON 13 OCTOBER 2015
9/11/2015Proposed Consolidation of Ordinary Shares, amendment of the ...
9/11/2015FORM OF PROXY FOR EXTRAORDINARY GENERAL MEETING
9/10/2015Half Yearly Financial Statements
9/9/2015EMED Mining's September 2015 Investor Presentation
9/7/2015Director Appointments
9/7/2015EMED Mining Public Limited Announces Director Appointments
9/2/2015Operations Update
7/29/2015Result of AGM
7/29/2015AGM Statement
7/16/2015Award of Municipal Activity Licence
7/9/2015Management Update
7/9/2015EMED Mining Public Limited Announces Management Update
7/6/2015CIRCULAR AND NOTICE OF EXTRAORDINARY GENERAL MEETING ON 29 J...
7/6/2015CIRCULAR AND NOTICE OF ANNUAL GENERAL MEETING ON 29 JULY 201...
7/6/2015Notice of AGM
6/30/2015EMED Mining Public Limited: Posting of Annual Report
6/24/2015Revised Admission Date
6/24/2015Revided Admission Date
6/24/2015Result of EGM and Appointment of Director
6/23/2015RESULT OF RUMP PLACING
6/22/2015Result of Open Offer
6/22/2015EMED Mining Public Limited Announces Result of Open Offer
5/28/2015Subscription, Placing and Open Offer to raise approximately ...
5/28/2015Subscription, Placing and Open Offer to raise approximately ...
4/7/2015Further US$6 million from Unsecured Bridging Finance Facilit...
3/30/2015Extension of repayment of Loan and Convertible Notes and Fin...
3/27/2015EMED Mining Public Limited: Extension of Repayment of Loan a...
3/25/2015Financing Update
3/20/2015March 2015 Investor Presentation
2/24/2015Operations Update
2/24/2015Operations Update
2/23/2015EMED Mining Public Limited ("EMED" or the "Company") Operati...
1/23/2015Final Permitting Obtained
1/23/2015EMED Mining Public Limited: Final Permitting Obtained
1/23/2015Permitting Update
1/23/2015EMED Mining Public Limited: Permitting Update
12/30/2014Permitting Update
12/29/2014EMED Mining Public Limited ("EMED" or the "Company") Permitt...
12/24/2014Unsecured Bridging Finance Facility, Extension of Convertibl...
12/24/2014EMED Mining Public Limited: Financing Update and Board Chang...
12/22/2014EMED Mining Public Limited: Slovakian Exploration Licences U...
12/22/2014Slovakian Exploration Licences Update
12/22/2014EMED Mining Public Limited: Update Regarding EGM Requisition...
12/15/2014EMED Mining Public Limited Announces Management Update
11/17/2014EMED Mining Public Limited ("EMED" or the "Company") Update ...
11/14/2014EMED Mining Public Limited Announces Quarterly Financial Rep...
11/6/2014EMED Mining Public Limited ("EMED" or the "Company") Notific...
11/5/2014EMED Mining Public Limited: Rio Tinto Copper Project Update
10/15/2014EMED Mining Public Limited: Notice of EGM Requisition
10/8/2014EMED Mining Public Ltd ("EMED Mining", "EMED" or the "Compan...
9/10/2014EMED Mining PLC ("EMED Mining", "EMED" or the "Company") Iss...
9/9/2014EMED Mining Public Limited Announces Appointment of Nominate...
8/27/2014EMED Mining Public Limited: Notification of Change of Shareh...
8/26/2014Trafigura Acquires Additional Shares in EMED
8/21/2014EMED Mining Public Limited: Director's Share Purchase
8/20/2014Completion of the £ 13.1 Million (Approximately US$22 Millio...
2/6/2014TEMPLATE
12/18/2013Interview with John Leach, Finance Director of EMED Mining
11/27/2013at Mines & Money London
11/14/2013Ownership of the Rio Tinto Copper Project
9/11/2013Presentation at Precious Metals Summit in Colorado
8/15/2013Interview with Harry Adams of EMED Mining
8/6/2013: Rio Tinto Copper Project Update
7/15/2013TEMPLATE
7/3/2013Quarterly Operational Update
6/18/2013Exercise of Options
6/17/2013post AGM Q&A session
6/13/2013: Funding Update
5/30/2013announcement
5/30/2013plc: Investor Briefing
5/20/2013Notice of AGM
4/23/2013at Master Investor - 27 April 2013
4/18/2013Harry Anagnostaras-Adams talks about latest corporate devel...
4/15/2013reports progress on permitting
4/2/2013: Exposure to Cyprus Bank Restructuring
3/18/2013Proposed Levy on Deposits in Cyprus
2/18/2013presentation
2/18/2013completed an updated Technical Report
1/16/2013QUARTERLY OPERATIONAL UPDATE
1/16/2013QUARTERLY OPERATIONAL UPDATE
1/9/2013Announcement
11/14/2012Arranges a US$50 Million Funding Package with Cornerstone C...
10/3/2012AAU public comments from the Environment Ministry
9/27/2012: Quarterly Operational Update
8/22/2012CONDITIONAL PLACING TO RAISE =C2=A33=2E5 MILLION
8/7/2012Half Yearly Results
7/5/2012poised to woo back investors
6/26/2012Investor Briefing
3/5/2012agrees $175 million finance package with Goldman Sachs
2/17/2012Despatch of Circular and Notice of Extraordinary General Mee...
2/6/2012Announcement
2/6/2012Proposed Subscription, Support and Arrangements
1/9/2012of Holdings and Issue of Equity
12/1/2011APPOINT NON EXECUTIVE DIRECTOR
10/6/2011QUARTERLY OPERATIONAL UPDATE
10/5/2011Quarterly Investor Briefing
9/23/2011Issue of Shares
9/6/2011Permitting Update
6/3/2011Proactive Investors interview
8/18/2010Receives Regulatory Clarifications for Tailings Dams
6/15/2010Result of AGM & Chairmans Statement
6/8/2010Agrees Debt-Repayment Plans with Department of Social Securi...
5/12/2010Final Results
3/8/2010Edison & Equity Developments analyst notes
2/1/2010Quarterly Report
1/14/2010Update of Site Activities at Rio Tinto Mine
1/6/2010EGM circular
12/24/2009Issue of Share Options
12/23/2009Results of EGM
11/30/2009Proyecto Rio Tinto Update
11/27/2009Spanish press articles
11/27/2009Issue of Shares
8/17/2009Result of EGM
6/22/2009Laboratory facilities at Minas de Río Tinto in Andalucia pre...
6/9/2009Convertible Loan Financing­ Remaining Conditions Satisfied
6/1/2009CHAIRMAN¹S AGM STATEMENT AND RESULT OF AGM
3/6/2009Convertible Secured Loan Facility of up to $8.5 million and ...
2/24/2009Initial Mineral Resource for Biely Vrch Gold Deposit, Slovak...
12/19/2008Season's Greetings
10/1/2008RESTRUCTURE OF RIO TINTO PROJECT ACQUISITION ARRANGEMENTS
9/23/2008Interim Results to 30 June 2008
9/17/2008on Gold Exploration in Slovakia
9/12/2008Greetings from Harry
8/26/2008Quarterly Report
8/19/2008Biely Vrch Gold Exciting Intercept - 460 Metres at 1.1g/t
7/22/2008Three latest research notes on EMED Mining
7/14/2008Latest Research Note on EMED Mining
6/13/2008Confirmation of Third Porphyry Gold Discovery in Slovakia
6/5/2008Loan Agreement
6/4/2008Results of Annual General Meeting
5/7/2008 raises £10million in over-subscribed placing
4/2/2008Rio Tinto Update
1/14/2008 Encouraging results at third Slovakia target
12/18/2007ARRANGEMENT OF NEW LOAN FACILITY
11/21/2007Status Of Emed Mining s Potential Acquisition of PRT & Resta...
11/21/2007Rio Tinto Update
11/13/2007 Responsible Mineral Extraction And Environmental Protection
11/8/2007confirms gold system at Kralova
10/29/2007 results of further drilling in Slovakia
8/22/2007Porphyry Gold System Extended At Biely Vrch
8/7/2007Inaugural Quarterly Report
8/2/2007Substantial Progress on Potential Acquisition in Spain
7/9/2007Porphyry Gold System Identified at Biely Vrch
5/23/2007Biely Vrch Mineralisation Extended to 460 Metres Depth
5/11/2007Announcement - Placing of £4 Million, Slovakia Exploration a...
3/16/2007Annual General Meeting. Chairman's Address
3/12/2007Expansion of Activities in Slovakia
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LSE (EMED.L)
404.00-2.87%
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