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EMED Mining Public Ltd

Published : September 14th, 2007

raises £3.3m, signs funding agreement, appoints joint broker

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AIM: EMED                                                                                                     14 September 2007


EMED Mining Public Limited Raises �3.3 million net

Signs Funding Agreement and

Appointment of joint broker


Placing of New Ordinary Shares


EMED Mining Public Limited (“EMED Mining” or “the Company”) has today conditionally placed 20,588,000 new ordinary shares of 0.25 pence each par value (“New Ordinary Shares”) at an issue price of 17 pence each (”Placing Price”) with existing and new shareholders.  The Placing will raise �3.5 million gross (�3.3 million net after associated expenses) and is conditional upon admission to trading on AIM of the New Ordinary Shares.  Application is being made for the New Ordinary Shares to be admitted to AIM and it is expected that Admission will be effective and that the Placing will be completed on 21st September 2007.


Investors include Oxiana, Gold Fields, Fidelity International, Yorkville Advisors LLC, RMB Australia Holdings Limited and Resource Capital Funds.  Fox Davies Capital Limited acted as broker in relation to the Placing, and will receive a commission and warrants to subscribe for 910,520 New Ordinary Shares pursuant to the Placing.


The funds raised will allow continued exploration of the porphyry gold discovery at Biely Vrch in Slovakia along with further progress with the potential acquisition in Spain of Proyecto de Rio Tinto (“PRT”) where EMED Mining’s local subsidiary continues to increase Mineral Resources and Ore Reserves.  The potential restart of PRT, at a planned base case production rate of 40,000tpa (after ramp-up) of contained copper, remains subject to the satisfaction of conditions precedent, principally the granting of regulatory consent by the Junta de Andalucia.


Establishment of �10 million Standby Facility available for 3 years


The Company also entered into a �10.0m Standby Equity Distribution Agreement  (“SEDA”) with Yorkville Advisors, LLC, as the Investment Advisor to YA Global Investments, L.P. (“Yorkville”), which enables the Company, at its discretion during the next 3 years, to draw down funds under the SEDA in small tranches as and when it deems appropriate and in accordance with restrictions set by the terms of the Agreement.


The financial capacity provided by the SEDA reflects EMED Mining’s strategy for maintaining rapid business growth while preserving the opportunity to optimise financing methods. Yorkville has provided such facilities to other companies in the natural resources sector, including Fortescue Metals Group (ASX), United Fiber Systems (SGX) and Petra Diamonds (AIM).


Appointment of Joint Broker


The Board of EMED Mining is pleased to announce that it has appointed Panmure Gordon (UK) Limited (“Panmure Gordon”) as its Joint Broker with immediate effect. Panmure Gordon, through its Appointed Representative GMP Securities Europe LLP, has been appointed because of its strength in the natural resources sector.



Mr Harry Anagnostaras-Adams, Managing Director of EMED Mining said: “EMED Mining continues to make preparations for the restart of PRT in Spain, if all conditions precedent are satisfied later this year.  We also wish to continue fast-tracking the drill-out of our gold porphyry discovery in Slovakia.”





EMED Mining

Fox-Davies Capital

RFC Corporate Finance

Parkgreen Communications

Harry Anagnostaras-Adams

Richard Hail

Stuart Laing

Justine Howarth

+357 9945 7843

+44 (0)207 936 5230

+618 9480 2500

+44 20 7851 7480





GMP Securities Europe LLP, an Appointed Representative of Panmure Gordon (UK) Limited

Telephone +44 (0) 20 7459 3606

James Hannon



New Funding Agreement


The Company has today entered into a Standby Equity Distribution Agreement (“SEDA”) with Yorkville Advisors, LLC, as the Investment Advisor to YA Global Investments, L.P. (“Yorkville”).


The principal features of the SEDA are as follows:


1                The maximum aggregate amount of the equity line is �10,000,000 and EMED Mining is entitled to draw down the equity credit line in tranches of up to �250,000 at its option but not more frequently than every 21 days. This may increase to 35 days in certain circumstances.


2                The facility is for 36 months and is exercisable at any time other than when the Company is in possession of unpublished price sensitive information, or at any time it has become reasonably probable that such information will be required by the AIM rules to be notified.


3                The Company may at its option state in a notice to Yorkville the minimum market price which it wishes to accept in relation to an advance under the SEDA. Subject to compliance with the minimum market price set by the Company, Yorkville will subscribe for new Ordinary Shares (at a discount of five per cent) at the lowest volume-weighted average price (as derived from Bloomberg) (the “VWAP”) of the five trading days following EMED Mining’s notice to Yorkville for it to subscribe for new Ordinary Shares.


4                Yorkville has agreed that it will not and will procure that its affiliates will not during such a five day pricing period sell, transfer, grant any option over or otherwise dispose of the legal, beneficial or any other interest in any Ordinary Shares, or agree to do so. Yorkville has also agreed that it shall not and shall procure that none of its affiliates shall during the 36 month period of the SEDA enter into any contracts for the sale of Ordinary Shares in excess of the total number of Ordinary Shares which Yorkville and its affiliates own (including Ordinary Shares in respect of which EMED Mining has given a notice to Yorkville).


5                Yorkville may not refuse a notice by EMED Mining to subscribe for new Ordinary Shares provided that each time notice is given the pre-conditions have been met, which includes a requirement that warranties given by the Company have not been materially breached.


6                There are no restrictions placed on EMED Mining’s access to other funding during the term of the agreement.


7                There is a fee payable to Yorkville of five percent of the amount of each tranche.


8                EMED Mining will also pay Yorkville an Implementation Fee of �350,000 for the credit line (which can be satisfied in two tranches of 50% each either in cash or in ordinary shares, with the number of such shares being calculated as �175,000 divided by the VWAP for the trading day immediately prior to the date of signing of the SEDA in the case of the first tranche, and in the case of the second tranche �175,000 divided by the VWAP for the earlier of (i) the fifth trading day after the notice date which results in the Company having given notice for advances of �750,000 or more; and (ii) the day before the first anniversary of the date of the SEDA agreement.


9                There are no warrants or any other attached instruments to the issue of the shares arising from each put by EMED Mining.



Further Information about Share Issue


As part of the SEDA, the Company has agreed to issue 1,030,109 New Ordinary Shares to Yorkville (being the first tranche of the implementation fee due under the SEDA).


The new ordinary shares to be issued to Yorkville are expected to be admitted to trading on AIM on 21 September 2007.  The new ordinary shares will rank pari passu with the existing shares of the Company. Following this allotment and the allotment of the Placing Shares, the total issued share capital of the Company will increase to 147,928,542 ordinary shares.







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 Company has moved rapidly reflecting the experience of its specialist team and the clarity of its strategy.


The Group’s region of interest are the tectonic belts spanning across Europe and over to Iran. 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. EMED Mining recently co-hosted with the Green Party of Cyprus an international conference on Responsible Mining and Environmental Management. 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:


          Spain/Cyprus The mines at Rio Tinto, Andalucia, Spain are probably amongst the best known in the world. They are, with the possible exception of those in Cyprus, the oldest capable of still being worked. It is now EMED Mining’s goal to restart production in both of these well-endowed 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 of production techniques are similar.

          Slovakia exploration areas are centred on a cluster of volcanic centres in Slovakia and Romania. Low-detection geochemical methods are being applied to these areas for the first time together with open pit bulk mining concepts. The targeted mineralisation styles are high-grade epithermal gold, or bulk-mineable epithermal gold and porphyry copper-gold. The Company has discovered a porphyry gold system at Biely Vrch in Central Slovakia which is the focus of a major drilling program over 2007.

          Georgia exploration areas form a cluster of gold prospects with EMED Mining’s main prospects being within the Upper Racha Licence, the country’s largest minerals licence with many untested prospects. The Company has confirmed Russian Resources of 1.0 million ounces gold at the Zopkhito Prospect and discovered high grade mineralisation at surface at other prospects.

          Turkey exploration areas were vended into 34%-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


For further information on the Company’s activities, visit or ..






Erica Nelson

Parkgreen Communications



Pegasus House

37-43 Sackville Street

London W1S 3EH

T: +44 (0) 20 7851 7480

F: +44 (0) 20 7494 9085

M: +44 (0) 7974 562 102


This email and any files transmitted within it are confidential and intended solely for the use of the individual or entity to whom they are addressed.

If you have received this email in error please contact the sender on 020 7851 7480.



EMED Mining Public Ltd

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
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
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
9/11/2015Proposed Consolidation of Ordinary Shares, amendment of the ...
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
7/6/2015Notice 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
6/22/2015Result 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
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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...
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
7/3/2013Quarterly Operational Update
6/18/2013Exercise of Options
6/17/2013post AGM Q&A session
6/13/2013: Funding Update
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
2/18/2013completed an updated Technical Report
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
8/7/2012Half 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...
2/6/2012Proposed Subscription, Support and Arrangements
1/9/2012of Holdings and Issue of Equity
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
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
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
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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