Emed Mining 500 %
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Kurs 0,25
wird von einem BB empfohlen
Kurs anstieg von 500 % wird prognostiziert
Gold Minen in der Slowakei
ob das was wird ?
die fundamentale entwicklung und zukunftsaussicht sol einzigartig sein .. na ja Reklamezeitschriften schreiben auch immer so ...
Schaut euch mal den Intradaychart an..
Die Umsätze steigen seit 3 Wochen auch kontunuierlich an..
Ist jmd schon in?
Hab bei Comdirect die WKN eingegeben und mir wird angezeigt 16 Pfund an der London Dom Quotes, stimmt des?
Pressemitteilung vom 23.05.2007 | 16:50
Emed MiningGoldmineralisierung bei Biely Vrch auf 460 M Tiefe erweitert EMED Mining Public Limited ("EMED Mining" bzw. "das Unternehmen") meldet die Ergebnisse des Bohrprogramms im Grubenfeld Biely Vrch im Zentrum der Slowakei in der Detva-Konzession des Unternehmens. Highlights * Die Bohrung DVE5 durchschnitt 331 m mit einem mittleren Goldgehalt von 1,1 g/t ab einer Tiefe von 228 m. Dieser Bohrschnitt definierte zusammen mit den früheren Ergebnissen (aus den Bohrungen DVE1 und DVE4) eine bekannte Goldmineralisierung von der Oberfläche bis in eine vertikale Tiefe von 460 m. * Die bisher vorliegenden Bohrergebnisse zeigen eine ausgedehnte Mineralisierungszone mit noch zu prüfenden potentiellen Erweiterungen nach Norden und Süden. Für den Rest des Jahres 2007 will EMED Mining die erforderlichen Arbeiten in Angriff nehmen, um bei der Konzession Biely Vrch eine erste JORC-kompatible Mineralvorkommensschätzung vorzulegen. * Erste metallurgische Analysen der Bohrkerne von Biely Vrch zeigten, dass die Goldmineralisierung metallurgisch unproblematisch ist. * Das Bohrprogramm für das Jahr 2007 wurde von 5.000 auf 7.000 Bohrmeter erweitert. Im Jahr 2007 wurden bis jetzt 2.580 m niedergebracht, für 830 m liegen bereits Analyseergebnisse vor. * Die für den Beginn, von Bohrarbeiten mit einem eigenen Bohrteam von EMED Mining, bestellte Bohranlage soll den Betrieb effektiver gestalten. * Das Unternehmen stellte kürzlich Anträge, die Explorationslizenz in der Slowakei von 490 auf 1312 km² zu erweitern. Ende 2006 wurde mit 4 Bohrungen bei Biely Vrch eine geochemische Bodenanomalie mit einer Ausdehnung von 500 × 300 m untersucht, und alle 4 Bohrungen durchschnitten in der gesamten Länge eine Goldmineralisierung. Die Bohrarbeiten bei Biely Vrch begannen Mitte März 2007 mit einem Bohrprogramm zur Definition des Umfangs und des Metallgehalts der oberflächennahen Mineralisierung, die durch die geochemische Bodenanomalie beschrieben ist, sowie mit Tests tieferer Bohrziele im Westen, die durch bodengeophysikalische Vermessungen identifiziert wurden. Es wurden bis jetzt sechs weitere Bohrungen (DVE5 bis DVE10) niedergebracht. Vollständige Analyseergebnisse liegen jedoch nur für Bohrung DVE5 vor. Die Analyseergebnisse aus Bohrung DVE5 zeigen eine ausgedehnte Goldmineralisierung in Verbindung mit der Bodenanomalie bis in eine vertikale Tiefe von 460 m, dies sind 200 m mehr als bei dem letzten Tiefenbohrschnitt. Harry Anagnostaras-Adams, Managing Director of EMED Mining, dazu: "Die Bohrarbeiten bei Biely Vrch sind in einem sehr interessanten Stadium. Auch wenn wir bisher nur Analyseergebnisse von fünf Bohrungen aus dieser Entdeckung von EMED Mining kennen, zeigen die ersten Ergebnisse, dass unsere in der Slowakei gepachteten Grundstücke substanzielle Goldvorkommen versprechen. Wir freuen uns auf die Zusammenarbeit mit Gold Fields Ltd., die kürzlich 10 % der Aktien unseres Unternehmens erwarb und die Interessen von EMED Mining in der Slowakei als Geschäftspartner unterstützt." -Ende- EMED Mining
Harry Anagnostaras-Adams
+357 9945 7843 Nabarro Wells
Richard Swindells
+44 20 7710 7400 Fox-Davies
Daniel Fox-Davies
+44 207 936 5220 Capital Parkgreen
Clare Irvine
+44 20 7851 7480 www.emed-mining.com
www.emed.tv Für die Richtigkeit der Übersetzung wird keine Haftung übernommen! Bitte englische Originalmeldung beachten! Mitteilung übermittelt durch IRW-Press.com Für den Inhalt ist der Aussender verantwortlich. Kostenloser Abdruck mit Quellenangabe erlaubt. Betreffendes Unternehmen:
Name: Emed Mining
Veröffentlicht von pressrelations
Link zur Pressemitteilung: http://www.pressrelations.de/new/standard/dereferrer.cfm?r=280984
Gruß DB
PORPHYRY GOLD SYSTEM IDENTIFIED AT BIELY VRCH
EMED Mining Public Limited ("EMED Mining" or "the Company") announces further
drilling results from the drilling program at the Biely Vrch Prospect at the
Company's Detva Licence in central Slovakia, as well as the recognition of the
deposit as a classical porphyry gold system.
Highlights
* Drillhole DVE8 has extended known mineralisation to the west with an
intercept of 0.94g/t gold over 258m from surface, including 154m at 1.3g/t
gold from surface.
* Drillhole DVE9 has extended known mineralisation to the north with an
intercept of 41m at 0.7g/t gold from 62m down hole.
* Current drilling is aimed at extending mineralisation north and south,
as well as testing nearby prospects analogous to Biely Vrch.
* Biely Vrch is a classical porphyry gold system which is a deposit type
rare globally and exemplified by several multi-million ounce deposits in the
Maricunga belt of northern Chile.
* Porphyry gold deposits typically occur in clusters and are usually
large ( > 100 million tonnes), low-grade (0.7g/t to 1.8g/t gold),
bulk-mineable deposits.
* Results to date have defined a zone of mineralisation estimated to
contain 15 to 23 million tonnes at an average grade of 1.0g/t gold, containing
approximately 0.5 to 0.7 million ounces. Further work is required to define a
JORC-compliant Mineral Resource.
* Several other prospects within the Company's Slovakian Licence have
been recognised as having potential to host porphyry gold mineralisation.
Assay results have now been received for five (DVE5 to DVE9) of the six
drillholes completed at Biely Vrch during 2007. This program was designed to
follow-up the Company's first four drillholes at Biely Vrch which all
intercepted gold mineralisation over their entire length.
Drilling results have confirmed the presence of gold mineralisation underlying
the first target at Biely Vrch, a 300m by 500m soil geochemical anomaly. Gold
mineralisation is contained in a broadly pipe-shaped quartz-veinlet stockwork
zone associated with an andesitic porphyry intrusion.
Drillhole DVE8 extended known mineralisation (to 250m east-west in total) with
an intercept of 154m at 1.3g/t gold from surface. Drillhole DVE9 extended known
mineralisation (to 350m north-south in total) with an intercept of 41m at 0.7g/t
gold from 62m down hole.
Commenting on the results, Managing Director Harry Anagnostaras-Adams said:
"Mineralisation at Biely Vrch continues to be extended and is open in several
directions. This drilling provides encouragement for the ultimate delineation of
a significant Mineral Resource.
"The recognition of Biely Vrch as a porphyry gold system is exciting as this
style of deposit typically occurs in clusters. Our geologists are now applying
the porphyry gold model to our large Slovakian tenements and defining drill
targets on several prospects relatively quickly.
"Drilling continues at Biely Vrch and initial drilling of nearby prospects is
also planned."
Enquiries:
EMED Mining RFC Corporate Finance Fox-Davies Capital Parkgreen
Communications
Harry Anagnostaras-Adams Stuart Laing Daniel Fox-Davies Clare Irvine
+357 9945 7843 +618 9480 2500 +44 20 7936 5220 +44 20 7851 7480
www.emed-mining.com
www.emed.tv
Biely Vrch Deposit Model
During May 2007, Dr. Richard Sillitoe, a leading global expert on the geology
and mineralisation of porphyry systems, visited Biely Vrch and other Company
prospects in Slovakia. Dr. Sillitoe advised that:
"The Biely Vrch prospect conforms precisely to the porphyry gold model,
exemplified by several deposits, including Lobo, Marte and Refugio, in the
Maricunga gold belt, high Andes of northern Chile. As such, the prospect is the
gold-only end member of the porphyry copper-molybdenum-gold spectrum. Viewed
worldwide, porphyry gold deposits are not common and have not been recognised
previously in the Carpathians, although at least two prospects are known in
Turkey. There, the Kisladag deposit, currently under development, is also of
porphyry type, but assignable to the somewhat different alkaline rock-hosted
gold-molybdenum category."
The Chilean deposits are hosted in andesitic rocks similar to those at Biely
Vrch. Some further information on these deposits is provided towards the end of
this announcement.
Porphyry gold deposits differ to the more common porphyry copper-gold deposits,
and typically:
* are low-grade (0.7g/t to 1.8g/t gold), multi-million ounce deposits;
* are large ( > 100 million tonnes), bulk-mineable deposits;
* are metallurgically simple and gold is recoverable via conventional
heap leaching;
* occur in clusters of several similar deposits; and
* contain very minor amounts of copper and molybdenum.
Regional Exploration Near Biely Vrch
The recognition of Biely Vrch as a porphyry gold deposit has provided valuable
insights which assist EMED Mining's plans for exploration of its Slovakian
licences. Several prospects have already been recognised as having potential to
host porphyry gold mineralisation.
At the Kralova Prospect, the Company is planning initial drilling of an untested
geochemical anomaly analogous to the soil geochemical anomaly which led to
positioning the Biely Vrch discovery drillhole. The size of the soil anomaly at
Kralova is 400m by 500m within the > 100 ppb gold contour.
At the Banisko Prospect, quartz veinlets in altered andesitic rocks indicate the
potential proximity of a porphyry gold centre. Drill targets will be defined via
geological mapping and geochemical surveys of these prospects.
A regional stream geochemical survey and follow-up geological mapping is
expected to define further areas within the Company licences that are
prospective for gold porphyry deposits.
Interpretation of Biely Vrch Drilling Results
At Biely Vrch, it is interpreted that hydrothermal fluids introduced gold into
an andesitic porphyry intrusion in a quartz-veinlet stockwork as part of a
potassic alteration assemblage. This was subsequently overprinted by argillic
(clay + pyrite) alteration. This later phase of alteration does not carry
significant gold and its pyrite is most likely the cause of the strong IP
anomaly to the west of the gold mineralisation at Biely Vrch.
Based on the limited drilling to date and the porphyry gold deposit model, the
dimensions of a vertical pipe-shaped structure of currently known gold
mineralisation within the stockwork zone at Biely Vrch are approximately:
* 250m east-west (DVE1, DVE4 and DVE5 and DVE8);
* 100m north-south (DVE1 to DVE3); and
* 460m vertical (DVE5).
The estimated average grade of this mineralised zone is approximately 1.0g/t
gold based on the intercepts from four drillholes within this block (DVE1, DVE3,
DVE4 and DVE5). Average grades in each of the four holes range from 0.5 g/t gold
in DVE3 to 1.3 g/t gold in DVE1.
Based on these parameters, the Company estimates that this zone of
mineralisation is roughly estimated to contain 15 to 23 million tonnes at an
average grade of 1.0g/t gold, containing approximately 0.5 to 0.7 million
ounces. Potential to extend this mineralised zone to the north and south is yet
to be tested. This estimate is conceptual in nature and it remains uncertain if
further exploration will result in the determination of a Mineral Resource as
defined in the JORC Code.
The extent of known mineralisation provides substantial encouragement for the
ultimate delineation of a significant Mineral Resource at Biely Vrch in a
deposit style that would be amenable to bulk tonnage mining methods.
Over the remainder of 2007, EMED Mining plans to undertake the work required to
estimate an initial JORC-Compliant Mineral Resource at the Biely Vrch Prospect.
This work would include further drilling to confirm the continuity of the
mineralisation throughout the targeted zone.
Click on the link below to view a diagram titled "Biely Vrch Section 8950 North":
http://emed-mining.com/site/dmdocuments/MMPL30_July07.pdf
See PDF for image.
Good potential remains to define extensions to the mineralisation and priority
drilling targets include:
* the southern portion of the soil anomaly where an anomalous area
measuring 300m by 300m contains only one drillhole (DVE2); and
* further to the north where DVE9 has shown, by visual observation, that
the mineralisation has been down faulted and covered by unmineralised
post-alteration volcanic flows.
In response to these positive early-stage results, the Company has:
* increased the drilling budget for 2007 from 5,000 metres to 7,000
metres; and
* purchased a drill rig to improve operational efficiencies.
Biely Vrch Prospect Drilling: Technical Summary
Six drillholes have been completed during 2007 for a total of 2,580m and assay
results have been received for DVE5 to DVE9. All drillholes have a declination
of 50degrees to 70degrees.
Drilling results have confirmed that gold mineralisation underlies the targeted
300m by 500m soil geochemical anomaly. Gold mineralisation is associated with a
potassic alteration assemblage and contained in a quartz-veinlet stockwork.
Click on the link below to view a diagram titled "Biely Vrch Prospect (Detva
Licence, Slovakia)" which summarises drill hole locations and results:
http://emed-mining.com/site/dmdocuments/MMPL29_July07.pdf
See PDF for image.
Drillhole DVE8 intercepted 154m at 1.3g/t gold from surface, which extended
known mineralisation along this east-west section to 250m.
Drillhole DVE9 intercepted 41m at 0.7g/t gold from 62m downhole and extended
known mineralisation a total north-south distance of 350m. Both DVE8 and DVE9
were sited towards the northern end of the soil geochemical anomaly.
Drillholes DVE6, DVE7 and DVE10 were sited to test an IP geophysical anomaly to
the west of the soil geochemical anomaly. DVE6 and DVE7 both intercepted only
weakly anomalous gold near surface and sufficient pyrite at depth to explain the
IP anomaly. Assays are awaited from DVE10, but are not anticipated to be
significant. Interpretation of the rock types intercepted in these drillholes
combined with the application of the porphyry gold deposit model, has downgraded
the prospectivity of the area to the west of the soil geochemical anomaly.
Table - Significant Drilling Intercepts at Biely Vrch
Hole Number Declination Total From To Downhole Grade
Depth (m) (m) Intercept (g/t gold)
(m) (m)
DVE1 60degrees East 108 0 108 108 1.3
including 86 108 22 1.9
DVE2 60degrees East 103 0 103 103 0.2
DVE3 60degrees East 220 0 220 220 0.5
DVE4 60degrees West 252 0 252 252 1.2
including 155 252 97 1.8
DVE5 55degrees West 559 228 559 331 1.1
DVE8 70degrees West 258 0 154 154 1.3
DVE9 70degrees West 350 62 103 41 0.7
Competent Person
References in this announcement to exploration results and potential have been
approved for release by Mr Ron Cunneen, B.Sc. (Honours). Mr Cunneen is Head of
Exploration for EMED Mining and has more than 20 years' relevant experience in
the field of activity concerned. He is a member of The Australian Institute of
Geoscientists ("AIG") and has consented to the inclusion of the material in the
form and context in which it appears.
Sampling and Assaying Procedures
All drilling on the Biely Vrch Prospect has been done with PQ, HQ and NQ size
core samples. Core recovery has averaged 95% throughout the mineralised zone.
All core has been logged and separated into 1.0m lengths. PQ size core has been
quartered, while HQ and NQ sized core have then been cut in half by a diamond
saw. The split core has then been sent for assay.
Sample preparation has been done by ALS - Chemex in Romania and assayed for gold
by 30gm fire assay (method Au-AA25). Both standards and blanks have been used in
the sample batches sent by EMED to ALS - Chemex in line with EMED company
quality control procedures.
Laboratory sample preparation, assaying procedures and chain of custody are
appropriately controlled. The Company maintains an archive of half-core samples
and a photographic record of all cores for future reference.
Glossary of technical terms
Andesite Igneous rock with 52% to 66% silica
Argillic Alteration Argillic alteration is that which introduces any one of a wide variety of clay
minerals, including kaolinite, smectite and illite
Breccia/Brecciated A clastic rock composed of particles more than 2 millimetres in diameter
and marked by the angularity of its component grains and rock
fragments
Exploration Target An estimate of grade and tonnage for an identified mineralised zone that is
conceptual in nature with insufficient drilling and other exploration work
making it uncertain as to whether a determination of a Mineral Resource as
defined in the JORC Code will eventually be possible
JORC Code The "Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves (2004)" prepared by the Joint Ore Reserves Committee of The
Australasian Institute of Mining and Metallurgy, Australian Institute of
Geoscientists and Minerals Council of Australia
Mineral Resource The estimated quantity and grade of mineralisation that is of potential merit.
A resource estimate does not require specific mining, metallurgical,
environmental, price or cost data, but the nature and continuity of
mineralisation must be understood to a specific degree of knowledge
Pyrite The most widespread iron sulphide mineral
Silicification The process whereby silica is introduced into a non siliceous rock either
by the filling of pore spaces or by replacement of existing minerals
Stockwork A network of veinlets, usually quartz
Further Details on Some Notable Porphyry Gold Deposits
The current Mineral Resources of the major porphyry gold deposits in the
Maricunga gold belt in Chile and the Kisladag deposit in Turkey are summarised
in the table below.
Country Deposit Owner Mt Grade Moz
Chile Lobo / Marte Teck / Anglo 107 1.7 5.9
Chile Refugio Kinross 350 0.72 8.1
Chile Volcan Andina 108 1.00 3.4
Turkey Kisladag Eldorado 235 1.04 7.9
Source: Websites of the relevant owners.
Also of note due to their proximity are the Colnic and Rovina porphyry
copper-gold deposits owned by Carpathian Gold Inc., located approximately 400 km
southeast of Biely Vrch in Romania. The Mineral Resources for these deposits are
reported to total 228 million tonnes at 0.42g/t gold and 0.20% copper,
containing 3.1 million ounces of gold and 0.5 million tonnes of copper.
This information on other porphyry deposits is provided for contextual purposes
only and should not be taken as implying that the Company will identify a
deposit of similar proportions.
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. In the two years since then the share price has increased from 8p to
the current 16p and market capitalisation has increased from approximately #4
million to approximately #20 million. 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 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/Romania 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 announced a gold discovery at Biely Vrch in Slovakia which is
a major priority for 2007.
* Georgia/Central Asia exploration areas form a cluster of gold
prospects centred in Georgia. EMED Mining's main prospects are 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. (please see full details in
Annual Report 2006 announcement from 19 February 2007).
* Turkey/Bulgaria 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 www.kefi-minerals.com.
For further information on the Company's activities, visit www.emed-mining.com
or www.emed.tv.
Paste the following link into your web browser to download the PDF document
related to this announcement:
http://www.rns-pdf.londonstockexchange.com/rns/8623z_-2007-7-8.pdf
-Ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLSSAFUASWSEIW
RNS Number:3963B
EMED Mining Public Limited
02 August 2007
AIM: EMED
2 August 2007
EMED MINING PUBLIC LIMITED
("EMED Mining" or "the Company")
SUBSTANTIAL PROGRESS ON EMED MINING'S POTENTIAL ACQUISITION
OF RIO TINTO PROJECT IN SPAIN
EMED Mining Public Limited ("EMED Mining" or "the Company") reports substantial
progress with due diligence and negotiations aimed at the staged acquisition of
100% ownership of the Proyecto de Rio Tinto ("PRT") copper project in Spain and
restart of copper production in Q2 2008.
Highlights:
* The Company's Spanish subsidiary, EMED Tartessus SL, has submitted its
proposals for the restart of production to the Junta de Andalucia
("Government"). Accordingly, the Company has begun to address the conditions
precedent with a view to committing in Q4 2007 to the restart. A shareholder
meeting will be called at the appropriate time to seek approval to proceed
if all conditions precedent have been met to the satisfaction of the
Government and the Company.
* Results of independently reviewed (by AMC Consultants) due diligence to
date include:
* JORC-compliant Mineral Resources increased to 255 million tonnes at
0.57% copper (containing 1.44 million tonnes copper) and Ore Reserves
increased to 69 million tonnes at 0.65% copper (containing 0.45 million
tonnes copper). Exploration planning in progress to convert more
resource to reserve.
* 10-year Base Case for production expanded by approximately 50% to
40,000 tonnes per annum of copper-in-concentrate, based on processing
7.5 million tonnes of ore per annum. This represents 83% of historical
maximum capacity through the existing treatment plant at PRT. Planning
in progress to further expand the project.
* Annual average EBITDA of approximately #50 million for 100% of PRT
based on a copper selling price of US$2.50/lb (current spot price is
over US$3.60/lb). Total costs US$1.31/lb (capital expenditure and
operating costs). Operating costs include site operating costs of
US$0.93/lb which also cover exploration, royalties and rehabilitation.
* In compliance with the Memorandum of Understanding described in the
Company's announcement of 11 May 2007, definitive agreements have now been
executed which reflect:
* The exclusivity of the Company's option over 100% of PRT via
subsidiary EMED Tartessus SL; and
* The Company's right to withdraw if it is not satisfied that conditions
precedent are met.
Harry Anagnostaras-Adams, Managing Director of EMED Mining said: "We are making
significant progress in our due diligence and have formulated production restart
plans which we believe will fulfil all local and regional requirements. We have
formed an excellent leadership team at EMED Tartessus which will be augmented by
personnel to be recruited upon our receipt of all regulatory clearances,
shareholder approvals and the requisite financial commitments from our bankers
and shareholders".
Enquiries
EMED Mining RFC Corporate Fox-Davies Parkgreen
Finance Capital Communications
Harry Anagnostaras-Adams Stuart Laing Daniel Fox-Davies Justine Howarth
+357 9945 7843 +61 8 9480 2500 +44 207 936 5220 +44 20 7851 7480
www.emed-mining.com
www.emed.tv
Background to Proyecto de Rio Tinto and the Company's Opportunity to Acquire
100% Ownership
On 11 May 2007, EMED Mining announced an opportunity for the Company to acquire,
in stages, 100% of Proyecto de Rio Tinto ("PRT"). Strong progress has been made
on due diligence and negotiations with stakeholders. However, this proposal
remains subject to all the conditions precedent set out previously:
* Regulatory approvals by the Government (Junta de Andalucia), support of
the local community and approvals by the relevant statutory authorities in
respect of performance bonds;
* Settlement satisfactory to EMED Mining of the PRT-vendor's liabilities,
liens and contractual arrangements with a number of third parties including
landholders. These various obligations arose over the past decade as a
result of the ongoing care and maintenance funding and from bankruptcy of
various entities and litigation amongst some parties;
* Completion of technical due diligence for:
* planning the restart of the mine, processing plant and product
marketing operations, and
* planning for a fast-track approach to site rehabilitation where
reasonable to be undertaken concurrently with ongoing long-term
production; and
* Complete all due diligence to EMED Mining's satisfaction including
environmental considerations and infrastructure needs.
The Company's due diligence (independently reviewed by AMC Consultants)
indicates that the potential restart of operations, based on the Company's
current redevelopment plan for the project, would achieve the following:
* Commencement of production in 2008 which would continue for a minimum of
10 years;
* Production of approximately 40,000 tonnes of copper-in-concentrate based
on processing 7.5 million tonnes of ore per annum from 2010. This represents
83% of historical maximum capacity through the existing treatment plant at
PRT. Planning in progress to further expand the project;
* Annual average revenues of approximately #108 million at a copper price of
US$2.50/lb or (current spot market price is over US$3.60/lb);
* An average waste-to-ore ratio for the life of mine of approximately 1.3 to
1.0;
* Site operating costs of approximately US$0.93/lb including exploration,
rehabilitation and royalty costs but excluding smelting, refining and
transport (of approximately US$0.33/lb);
* Total costs US$1.31/lb including capital, operating, exploration,
royalties, and rehabilitation costs;
* Annual average EBITDA (Earnings Before Interest, Tax, Depreciation and
Amortisation) of approximately #50 million per annum for 100% of PRT based
on a copper selling price of US$2.50/lb (current spot price is US$3.57/lb);
* Employment of approximately 400 to 450 employees and contractors at full
production;
* Potential to extend the mine life through conversion of more resources to
reserves.
EMED Mining will continue refining operating plans and verifying cost and other
analyses in consultation with its independent consultants. This may result in
changes to the above figures.
Anticipated investment to achieve production restart, settle the PRT vendor's
creditors, expand to 7.5 million tpa and to acquire 100% of project equity
remains consistent with the disclosures made in the Company's announcement of 11
May 2007 ie an aggregate of approximately #79 million. Subject to receipt of
regulatory approvals, these expenditures would be planned over the four years
commencing from when the Company triggers the restart, targeted for Q4 2007.
The Company has commenced discussing alternative financing strategies with
potential financiers. The potential sources of funds remain debt-finance,
mezzanine finance, arrangements with customers, equity issues and operating cash
flows. The financing plan would be outlined in due course when conditionally
agreed with potential financiers and set out in detail when shareholder approval
is sought.
Mineral Resource and Ore Reserve Statement
The PRT Mineral Resource and Ore Reserve is reported below in Tables 1 and 2 in
accordance with the most widely accepted international reporting standard, the
Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves, prepared by the Joint Ore Reserves Committee of the Australasian
Institute of Mining and Metallurgy, Australian Institute of Geoscientists and
Minerals Council of Australia, December 2004 (The JORC Code).
The earlier published Mineral Resource and Ore Reserve Statement (refer
announcement of 11 May 2007) subdivided the estimates into the Cerro Colorado
deposit and the Salomon deposit. Subsequent evaluation has determined that these
two deposits are in fact part of the same mineralised system. The separate
estimates have been renamed Cerro Colorado West (replacing Cerro Colorado) and
Cerro Colorado East (replacing Salomon) as this naming convention better
reflects the continuity of the mineralisation.
An upgrade to the Mineral Resources and Ore Reserves has resulted from work
carried out by EMED Mining and its independent consultants AMC Consultants. In
the past Mineral Resources and Ore Reserves have been reported at cut-off grades
of 0.25% copper for Cerro Colorado West and 0.35% copper for Cerro Colorado
East. Based on a more detailed analysis of costs and operating parameters the
cut-off grade for Cerro Colorado East has been reduced to 0.25% copper. Further
reviews will follow in due course.
Mineral Resources have increased from 209.1 million tonnes at 0.57% copper (1.19
million tonnes of contained copper) to 254.9 million tonnes at 0.57% copper
(1.44 million tonnes of contained copper). This increase is due to the reduction
of cut off grade of Cerro Colorado East from 0.35% copper to 0.25% copper.
The Ore Reserves of 52.8 million tonnes at 0.65% copper (342,000 tonnes of
contained copper) stated on 11 May 2007 were based on a Mineral Resource
estimate to which a tonnage reduction factor of 20% had been applied. Subsequent
work reconciling the Mineral Resource to mill production showed that the
application of the tonnage reduction factor was not warranted.
The elimination of the tonnage reduction factor and the reduction in the cut-off
grade of Cerro Colorado East have resulted in an increase in the Ore Reserve to
69.1 million tonnes at 0.65% copper (450,000 of contained copper).
The Mineral Resource is based on data and information supplied by the previous
owner of PRT, and is reported at a cut-off grade of 0.25% copper and is shown in
Table 1 below:
Table 1 - Mineral Resource Statement for PRT
Cerro Colorado West Mt Cu % Cu kt
Measured 35.9 0.57 205
Indicated 105.4 0.50 527
Inferred 35.4 0.68 243
Total (Cerro Colorado West) 176.7 0.55 975
Cerro Colorado East Mt Cu % Cu kt
Measured 33.1 0.70 232
Indicated 34.1 0.50 171
Inferred 11.1 0.58 64
Total (Cerro Colorado East) 78.3 0.60 467
Total Mineral Resource 254.9 0.57 1,441
The PRT Ore Reserve estimate is based on the 'Measured' and 'Indicated' portions
of the Mineral Resource, constrained within the 10-year pit designed by the
previous owner of PRT. All Proved Ore Reserve has been derived from the Measured
Mineral Resource and all Probable Ore Reserve has been derived from the
Indicated Mineral Resource. The Ore Reserve is reported at a cut-off grade of
0.25% copper for both Cerro Colorado West and Cerro Colorado East and is shown
in Table 2 below:
Table 2 - Ore Reserve Statement for PRT
Cerro Colorado West Mt Cu % Cu kt
Proved 21.1 0.55 117
Probable 16.4 0.65 106
Total (Cerro Colorado West) 37.5 0.60 223
Cerro Colorado East Mt Cu % Cu kt
Proved 25.2 0.76 191
Probable 6.3 0.58 36
Total (Cerro Colorado East) 31.5 0.72 227
Total Ore Reserve 69.0 0.65 450
Ore Reserves represent 33% of the Measured and Indicated Resources at PRT.
A report by AMC Consultants providing further information on the Mineral
Resources and Ore Reserves will be uploaded onto www.emed-mining.com during
August 2007.
Competent Persons for Reporting of Resources and Reserves
References in this announcement to exploration results and potential have been
approved for release by Mr Ron Cunneen, B.Sc. (Honours). Mr Cunneen is Head of
Exploration for EMED Mining and has more than 20 years' relevant experience in
the field of activity concerned. He is a member of The Australian Institute of
Geoscientists ("AIG").
The specific information in this announcement that relates to JORC-Compliant
mineral resource and ore reserves is based on information compiled by Ms Sonia
Konopa (Senior Geologist), MSc (Economic & Mining Geology), BAppSc (Honours
Geology) with 20 years relevant experience in the mining industry, and Mr Andy
Robb (Principal Mining Consultant), BSc (Mining Engineering), with 30 years
relevant experience in the mining industry, who are both employees of AMC
Consultants (UK) Limited.
Ms Konopa is a Member of the Australasian Institute of Mining and Metallurgy and
has sufficient experience relevant to the style of mineralisation and type of
deposit under consideration to qualify as Competent Person as defined in the
2004 Edition of the JORC Code. Ms Konopa is responsible for the reporting of the
mineral resource estimate.
Mr Robb is a Member of the Australasian Institute of Mining and Metallurgy and
has sufficient experience relevant to the style of mineralisation and type of
deposit under consideration to qualify as Competent Person as defined in the
2004 Edition of the JORC Code. Mr Robb is responsible for the reporting of the
ore reserve estimate.
Ms Konopa and Messrs Cunneen and Robb consent to the inclusion in the
announcement of the material in the form and context in which it appears in this
announcement.
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
mongst 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
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 www.kefi-minerals.com.
For further information on the Company's activities, visit www.emed-mining.com
or www.emed.tv .
-Ends-
This information is provided by RNS
The company news service from the London Stock Exchang
An den Tagen, wo es gut läuft freue ich mich, an den Tagen wo es schlecht läuft, denke ich an die Tage, wo es gut lief!
Das Management von EMED MINING ist mit zahlreichen Veteranen der Rohstoffbranche exzellent besetzt! Unter ihnen auch Gordon Toll, der zuvor bereits als Senior Manager des Bergbau-Giganten Rio Tinto tätig war. Gehen Sie ruhig davon aus, dass diese Fachleute ganz genau wissen, welches Potenzial in den Projekten von EMED MINING schlummert. Die Experten von Edison Research messen allein dem Slowakei-Projekt derzeit einen Wert von rund GBp 20 je Aktie zu, was bereits für sich genommen den momentanen Börsenwert des Unternehmens um rund 30% übersteigt. Praktisch umsonst bekommen Sie die Spekulation auf eine erfolgreiche und zeitnahe Produktionsaufnahme in Spanien, bei der das Unternehmen komplett neu bewertet werden müsste. Sie wissen: Dieses Projekt könnte zehn mal so viel wert sein wie das Unternehmen heute. Und nicht nur die Analysten von Edison Research zeigen sich begeistert: Das Investmenthaus Frenzer Davies hat jüngst das Kursziel auf GBp 83 erhöht, was immerhin das Vierfache des heutigen Kurses bedeutet, gleiches gilt für die Analysten von Growth Equities, die das Kursziel – noch bei einem Börsenkurs von GBp 17 – von GBp 70 auf GBp 82 angehoben haben. Andere Analysten wie beispielsweise T1ps rechnen mit einer Verdreifachung und auch das Investmenthaus Hardman&Co. zeigt sich von dem Titel begeistert und hatte die Aktie kürzlich in einer Researchstudie unter dem bezeichnenden Titel „A Big Year Ahead“ zum Kauf empfohlen."
phy
Hallo, Emed wurde mir von einem Bekannten empfohlen, hab mich ein bisschen belesen, aber kann mich irgendwie nicht ganz aufrafen hier einzusteigen, ist für mich nen bisschen verwirrend alles,(bin auch noch nicht lange im Aktiengeschäft)was meint ihr, sollte ich bei dem jetzigen Kurs von 0,33 Euro noch einsteigen, ich las es geht runter, wiederrum las ich, es geht bis auf 1 Euro.
Helft mir
EMED Mining Public Limited ("EMED Mining" or “the Company”), the AIM-quoted and TSX-listed mining exploration and development company, announces that it has received formal approval from the Department of Culture and Heritage of the Junta de Andalucía (“Andalucían Government”) for its plans to restart the Rio Tinto Copper Mine (“the Project”).
This is the first formal approval to be received from the Andalucían Government, following its March 2011 announcement which stated that it would endeavour to facilitate the mine restart. It is also notable that both major political parties have this month affirmed their support for the project in respective policy statements.
Harry Anagnostaras Adams, Managing Director of EMED Mining, said:
“We are pleased with the approval received from the Department of Culture and Heritage and in particular appreciate the stated commitment of the Andalucían Government to facilitate the re-start of production. Full and constructive consultation is taking place among the regulators, local municipalities, unions and the Company. We are all working together to expedite the start-up.”
In particular, the Company is now working with the Department of Environment (recently restructured to include the Water Authority) and the Department of Industry in order to expedite the necessary remaining approvals to restart the mine – approvals of the Company’s Administrative Standing and of the Project as a whole.
At the mine, EMED Mining has started engineering work for tender documentation in respect of plant repair and improvement programs so that site works can begin by the end of 2011. This would enable production to start as early as possible in 2012, subject to the timing of the permit approvals amongst other things.
Background
The Andalucían Government has publicly stated that it wants to facilitate the mine start-up (see EMED Mining announcement dated 15 March 2011). This was supported on 14 and 15 May 2011 by the two principal political parties in their respective policy statements.
In April 2011 the Government departments set out conditions and requests required for permitting (see EMED Mining announcement dated 19 April 2011) in respect of which the Company is preparing supporting documentation for its responses. One key condition was to minimise pollution in the Odiel River Basin and it is notable that in this regard the regulatory authorities are now engaging with the various stakeholders (all relevant mining and other companies, municipalities, academic institutions and the landholders) to ensure they all work together over the long term to improve the conditions of the Odiel River. Regulatory policies in this respect are being formulated for application to all stakeholders.
For the information of shareholders, the results of elections held in Spain on 22 May 2011 will affect the composition of some of the local municipal councils directly involved with the Company’s activities but those elections did not include elections for the Government of Andalucia, which will be held in May 2012.
phy