THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR ANY JURISDICTION IN WHICH SUCH PUBLICATION RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL
Afferro Mining Inc
International Mining & Infrastructure Corporation PLC
LONDON, UK, July 18, 2013 /CNW/ - IMIC and Afferro have agreed to amend the Arrangement Agreement, details of which were announced on 24 June 2013. The amendment provides for the extension of the outside date to 29 September 2013 to allow both parties to prepare all necessary documentation. All other commercial details of the Arrangement Agreement remain unchanged.
Further Information on Afferro and IMIC
Further information on Afferro and its assets can be found at www.afferro-mining.com
Further information on IMIC can be found at www.imicplc.com
A copy of the arrangement agreement will also be filed on Sedar and can be found at www.sedar.com
Canaccord Genuity Limited is acting as Afferro's exclusive financial advisor in relation to the Transaction. Investec is Afferro's Nominated Advisor and Joint Broker. RBC Capital Markets is Afferro's Joint Broker.
Merrill Lynch International ("Bank of America Merrill Lynch"), a subsidiary of Bank of America Corporation, is acting exclusively for IMIC in connection with the Transaction and for no one else and will not be responsible to anyone other than IMIC for providing the protections afforded to its clients or for providing advice in relation to the Transaction.
WH Ireland is IMIC's Nominated Advisor and Joint Broker. Ocean Equities Limited is IMIC's Joint Broker.
International Mining Infrastructure Corporation plc (IMIC), in conjunction with its privately held strategic partner African Iron Ore Group (AIOG), is working to unlock value in the metals and mining industry in West and Central Africa by providing infrastructure solutions, for railways, deep-water ports, power and/or iron ore beneficiation, that will allow the region's emerging iron ore projects to develop into globally significant export operations.
IMIC and AIOG are well positioned to partner African host countries in the delivery of infrastructure arrangements, and to assist with initiatives that best address the long-term aspirations of their governments and people.
China, as consumer of 70% of the world's seaborne iron ore, is key to this opportunity. A best in breed alliance of Chinese construction and equipment groups and iron ore off-takers has been carefully assembled to provide funding and delivery of projects and onward sale of iron ore.
AIOG's major infrastructure project, in partnership with IMIC, is the Simandou South iron ore project in the Republic of Guinea, where there is an agreement with the Guinean government to deliver a multi-purpose, multi-user infrastructure solution which ultimately could become the backbone of the country's transport network.
IMIC also takes strategic stakes in junior miners with the intention of benefiting from the uplift in value once an infrastructure solution is initiated.
IMIC shares are traded on the London Stock Exchange's AIM market under the ticker symbol IMIC.
About Afferro Mining Inc.
Afferro is an established exploration and development company listed on the TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the 100% owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70% interest in the Ngoa project, an exploration target bordering Nkout. All projects are subject to government rights. Nkout has a National Instrument 43-101 ("NI 43-101") compliant Indicated Mineral Resource Estimate of 1.6Bt at 33.3% Fe and an Inferred Mineral Resource Estimate of 0.9Bt at 30.8% Fe. In addition Nkout has a NI 43-101 compliant Preliminary Economic Assessment ("PEA") which indicates that the project is economically viable. Ntem comprises a NI 43-101 compliant Indicated Mineral Resource Estimate of 39.1Mt at 34.0% Fe and an Inferred Mineral Resource Estimate of 76.4Mt at 34.2% Fe.
Howard Baker (MAusIMM(CP)) has 19 years' experience in the mining industry and 11 years' experience in the exploration, definition and mining of iron ore mineral resources. Mr Baker is a full-time employee of SRK Consulting (UK) Ltd., an independent consultancy, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the type of activity which he is undertaking to qualify as a Qualified Person in accordance with NI 43-101 and a Competent Person as defined in the June 2009 Edition of the AIM Note for Mining and Oil & Gas Companies. Howard Baker consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.
This announcement includes certain forward-looking statements. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various known and unknown risks and uncertainties as well as other factors. Such forward looking statements are subject to a number of risks and uncertainties that may cause actual results or events to differ materially from current expectations, including delays in obtaining or failure to obtain required regulatory approvals. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Information about the risks and uncertainties of the Company's business is provided in its disclosure materials, including its Annual Information Form and the MD&A for the 12 months ended 31 December 2012, available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actions, events or results to differ materially from those described in forward looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein, speaks only as of the date hereof (unless stated otherwise) and, except as may be required by applicable law, Afferro disclaims any obligation to update or modify such forward-looking statements, either as a result of new information, future events or for any other reason.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Afferro Mining Inc.
International Mining and Infrastructure Corporation plc
+44 (0) 20 7290 3340
Haresh Kanabar, Chairman
Ousmane Kane, Chief Executive Officer
James Ward, Finance Director
Bank of America Merrill Lynch - Financial Adviser to IMIC
+44 (0) 20 7628 1000
Ocean Equities Limited - Joint Broker to IMIC
+44 (0) 20 7786 4370
WH Ireland Limited - Nominated Adviser and Joint Broker to IMIC
+44 (0) 117 945 3470
Buchanan - Media and Investor Relations Adviser to IMIC
+44 (0) 20 7466 5000
Afferro Mining Inc.
+44 (0) 20 7010 7680
Luis da Silva, Chief Executive Officer
Jeremy Cave, Investor Relations
Canaccord Genuity Limited - Financial Adviser to Afferro
+44 (0) 20 7523 8000
Investec - Nominated Adviser and Joint Broker to Afferro
+44 (0) 20 7597 5970
RBC Capital Markets - Joint Broker to Afferro
+44 (0) 20 7653 4000
Pelham Bell Pottinger - Media and Investor Relations Adviser to Afferro
+44 (0) 20 7861 3232