Green light for EMED Mining

EMED Mining (EMED) is seeking to assemble a financing package worth at least $150 million (£100 million) to restart the historic Rio Tinto copper mine near Seville in Spain after winning final approval for its mining and restoration plan there. The AIM-quoted company is discussing funding alternatives with several groups including its three key backers, the $82 billion Dutch commodity group Trafigura Beheer, US-based Orion Mining Finance and China’s Xianguang Copper, following the favourable decision by the government of the Province of Andalusia

EMED a Turning Point

Having earlier in the day announced that a delegation from the regional authorities would be visiting the Rio Tinto mine site, EMED Mining (EMED) yesterday morning announced that during a meeting it has received formal communication of the granting of a mining permit – “the last significant regulatory approvals… before normal mining and processing operations can commence”. 

EMED (#EMED) says to get Government visit today & could be relevant to permitting

EMED…positive developments: average down

Having initially requisitioned an EGM to ‘bring about much-needed change’ at EMED Mining (EMED), it has been announced that multinational commodities group Trafigura in conjunction with other cornerstone investors in EMED, Orion Mine Finance and Xiangguang International, has now conditionally agreed a $24 million, and up to $30 million, bridging finance facility with the company in conjunction with Ronnie Beevor, Isaac Querub Caro, Ashwath Mehra and Bob Francis all agreeing to resign from the board, with a new Chairman (Roger Davey) and CEO (Alberto Lavandeira) appointed.

New era and name for EMED Mining

Alberto Lavendeira, new chief executive officer at copper hopeful EMED Mining (EMED), sounds confident the AIM-quoted company will receive permission ‘in the first or second week of January’ to restore copper production at the historic Rio Tinto mine in the Spanish province of Andalusia, after a series of corporate upheavals and the departure of most of the AIM-quoted company’s previous board.

EMED (#EMED) - Trafigura gives $30m loan and boots out useless directors. Hooray

EMED (#EMED) More delays on the sack the board EGM

EMED (#EMED) says yet another delay just a technicality and it expects all permits for Rio Tinto by year end.

New battle erupts at EMED Mining

Multinational commodities group Trafigura, largest shareholder in AIM and Toronto-quoted EMED Mining (EMED), has stirred a flurry in the company’s shares by calling for the removal of most of its board to ‘bring about much-needed change’.  Having spent some £18 million earlier this year buying an 18% stake in EMED, Trafigura has called for a special investors’ meeting, claiming the present EMED board, under chairman Ronnie Beevor and chief executive officer Isaac Querub, ’is failing to serve the interests of shareholders’  and arguing the company, as currently constituted, lacks the financial resources and management capabilities to achieve its goal of reopening the historic Rio Tinto copper mine in the Spanish province of Andalusia.

EMED - After the Quarterlies a speculative buy still

EMED Mining (EMED) has announced that it has completed its application for a mining permit for its Rio Tinto copper project and is “confident that it will receive the mining permit before year end”. Together with restoration plan approval (the final plan having gone through public consultation, with approval “expected within the coming weeks”), these are the final permits needed to allow full scale mining operations to recommence. 

EMED: shares to more than double says Fox Davies after results and placing

Broker Fox Davies has published a new note on EMED Mining (EMED) in the wake of results and a recent placing with Chinese investors – it reckons that the shares should more than double from 8p.

EMED – Trafigura ups stake again – speculative buy

It has been announced that Trafigura Beheer B.V. has, at 9p per share, acquired a further 30,856,481 shares in EMED Mining (EMED) – taking its interest to 259,029,997 shares (18.04% of EMED). This follows stakebuilding earlier this month  and a subsequent placing which then somewhat diluted Trafigura’s percentage interest. It is again stated today that “Trafigura has stated that it has acquired the ordinary shares for investment purposes”. 

EMED – Buy after placing

Having worked to have key permits granted towards the re-starting of production from the Rio Tinto copper project in Spain,  EMED Mining (EMED) has announced a €6.80 million net cash outflow in the six months ended 30^th June 2014. Together with that negotiations “in respect of an equity financing to support an altered debt and equity structure… have taken considerably longer to conclude than originally anticipated”, this put its balance sheet in a troubling position and has seen it conditionally raise a further £13.1 million at 7.25p per share “to fund its activities up to the end of 2014, and thus enable the company to finalise its plans for the full financing of the Rio Tinto copper project”. 

EMED Mining; a punt for copper bulls

Some may question the prospects for copper. Concerns about a Chinese economic slowdown and potential oversupply in 2014 abound. However, these negatives compete with the lowest stock levels in London Metal Exchange warehouses since 2008 and cheerful City forecasts. Isaac Querub and Alberto Lavandeira, respectively newly installed chief executive officer and chief operating officer EMED Mining (EMED), entertain no doubts as they prepare to bring Spain’s historic Rio Tinto copper mine in Andalusia back into production towards the end of next year.

EMED Quarterlies - Buy

EMED Mining (EMED) has announced results from a “transformational” quarter – in which it received the Unified Environmental Authorisation for the Rio Tinto copper project in Spain , and shortly after was granted ‘Administrative Standing’. So are the shares cheap? Yes.

UK Investor Show 2014 video - Ron Cunneen of EMED Mining

Direct from the Queen Elizabeth Conference Centre a video featuring a UK Investor Show 2014 presentation by Ron Cunneen of EMED Mining (EMED)

EMED Mining – It really is all systems go!

Following its recent receipt of Unified Environmental Authorisation for the Rio Tinto copper project in Spain, EMED Mining (EMED) has announced that it has now been granted authorisation over the mining rights (‘Administrative Standing’) for the project, enabling it to trigger site works towards the re-start of production.

EMED at 10p worth 18.2p to 33.3p says Fox Davies

Top resource broker Fox Davies has today published a note on EMED (EMED) claiming that its shares, now 10p are worth 18.2p- 33.3p. Analyst Peter Rose writes:

EMED Mining - Speculative Buy?

EMED Mining (EMED) has reported an end 2013 cash balance of €8.63 million, up from €7.60 million at the end of 2012 – though only after the issue in 2013 of €11.08 million of convertible (at 9p per share) debt, with a term to January 2015, and €6.99 million of new shares. So do the shares remain a buy?

EMED Mining Management Change – A Portent of progress

EMED Mining (EMED) has announced the appointment of Isaac Querub as CEO of the Company and of Alberto Lavandeira as COO. Seneor Lavandeira also becomes the CEO of the operating subsidiary, EMED Tartessus.  So what?