NICOSIA, Cyprus, Aug. 7, 2012 /CNW Telbec/ - EMED Mining Public Limited (AIM: EMED) (TSX: EMD) ("EMED Mining" or "the Company"), the Europe-based minerals development and exploration company, announces its unaudited financial results for the three months ended 30 June 2012 and its unaudited interim results for the half-year ended 30 June 2012.
The full Half Yearly Report (as required by Toronto Stock Exchange reporting standards), including consolidated Financial Statements and the Management Discussion and Analysis relating to the Company, are available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.emed-mining.com.
Rio Tinto Copper Mine in Spain - preparations targeting project restart trigger at the end of 2012
- Funding plans for US$190 million agreed with product customers Goldman Sachs and Yanggu Xianguang Copper
- Construction management teams mobilised to site and completing execution budgets and schedules
- Agreements reached with owners of all adjoining lands required for the future mine needs
- Permitting progress consistent with timetable:
- public commentary completed of environmental plans ("AAU") to be addressed this quarter;
- federal agency review of project plans well advanced and report expected in September 2012
Detva Gold Project - Slovakia
- Option agreement with neighbouring industrial factory to acquire their property and move their operations
Shareholders include Chinese smelter group XGC and Andalucian investment companies Rumbo 5.0 and Inland Trading.
Harry Anagnostaras Adams, Managing Director of EMED Mining, commented:
"Progress has significantly de-risked the Rio Tinto Copper Mine and our target to start production at the end of 2013. This has reinforced our focus on triggering the restart this year - duly permitted, engineered and financed. Our recent agreements with major local landholders add to our excellent support in local communities. We look forward to modernising the environmental and production operations for the long term. We equally look forward to launching an aggressive exploration program aiming to expand mineral resources and ore reserves on the first mine, the Cerro Colorado Open Pit, as well as to validate historical data on other deposits with a view to estimating mineral resources in compliance with today's reporting standards."
SOURCE: EMED MINING PUBLIC LIMITED
For further information:
Harry Anagnostaras-Adams +357 9945 7843,
Roger Howe +61 405 419 139
In North America: Andreas Curkovic +1 416-577-9927
Renmark Financial Communications Inc.
Peter Mahzari: firstname.lastname@example.org
Laurence A. Lachance: email@example.com
Media - Guy Hurd: firstname.lastname@example.org
Tel.: (514) 939-3989 or (416) 644-2020