EMED Mining Public Limited: Quarterly Financial Statements

01.07.2015  |  Marketwired

NICOSIA, CYPRUS -- (Marketwired - Jul 1, 2015) - EMED Mining Public Ltd. (TSX: EMD) (AIM: EMED) ("EMED or the "Company"), the Europe-based minerals development and exploration company, announces its unaudited quarterly results for the three months ended 31 March 2015, together with the unaudited, condensed interim consolidated Financial Statements.


Period Highlights

• The Resolution containing the granting of the Mining Permit for the Rio Tinto Copper Project ("Proyecto Riotinto") was signed on 23 January 2015


• Continued onsite development ahead of planned production restart


• Ongoing infill drilling with a view to defining a new resource

• £64.9 million capital raising completed via a placing, open offer and subscription at 4.75p per ordinary share


• The proceeds allow the immediate completion of the Proyecto Riotinto refurbishment, leading to an earlier than expected restart of production


• Funding in place to expand production to 7.5Mtpa


• Liberty Metals & Mining Holdings, LLC is now a cornerstone investor alongside Urion Holdings (Malta) Limited (an indirect subsidiary of Trafigura Beheer B.V), Orion Mine Finance (Master) Fund I XLP and Yanggu Xiangguang Copper Co. Ltd (via its affiliated company Hong Kong Xiangguang International Holdings Limited)


• Appointment of Jesus Fernandez Lopez to the Board of Directors