Magellan Minerals
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Company Information for EMED Mining

Company stock charts - 12 Month chart

Exchange AIM; EMED


View full financial data

Company Statement

The principal activity of AIM-listed EMED Mining (Code:EMED) is to explore for and develop natural resources, with a focus on copper and gold.

The Company's region of interest spans from Europe to the Middle East which includes many past centres of mining and under-explored potential for many styles of mineralisation such as volcanogenic-hosted massive sulphide copper-gold, epithermal gold and porphyry copper-gold.

During 2007, EMED Mining discovered a new gold province in Slovakia and obtained an option over the Rio Tinto Mine and processing infrastructure in Spain.

EMED Mining has now established a strong position in the following selected zones:

  • Exploration areas in Slovakia are centred on a cluster of volcanic centres. Low-detection geochemical methods are being applied to these areas for the first time together with open-pit, bulk-mining concepts. The principal targeted mineralisation style is low-grade, bulk-mineable porphyry gold. The company has announced gold discoveries at Biely Vrch, Kralova and Slatinske Lazy in Slovakia.
  • The mines in Cyprus and at Rio Tinto in Spain, located in the Iberian Pyrite Belt, are probably amongst the best known in the world. EMED Mining's goal is to restart copper production at its projects in both of these well-endowed, historical 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 production techniques are similar in both mining districts..

EMED Mining also owns 32% of AIM-listed KEFI Minerals Plc, which is primarily exploring for gold and copper in Turkey.

Significant recent political changes in the region provide opportunities as well as challenges. The lack of recent mine developments in many countries has caused lack of familiarity with the risks and rewards of mining. In this lack of empathy, EMED Mining sees both challenge and opportunity.

Regional Strategy 
The Group's region of interest is the Mesozoic to Tertiary age tectonic belt that winds from Europe to the Middle East, extending for over 3,000 kilometres.EMED Mining's strategy is to rapidly evaluate exploration opportunities in several jurisdictions throughout this quality mineral belt with a relatively high rate of project turnover.

EMED Mining has now established exploration interests in Cyprus, Eastern Europe, Spain and the Caucasus.

The Company intends to continue to prospect specific mineralised belts across the region, largely ignoring political borders to develop a balanced portfolio of geographically diverse opportunities across a range of countries. It is intended that prospects will be prioritised for consideration on the following basis:
  • a history of previous production or exploration;
  • the opportunity for the Group to apply the most up to date exploration techniques; and
  • the potential to recover at least 150,000 tonnes of copper or 1 million ounces of gold.


Current Operations

Projects 
EMED Mining has now established a strong position in the following areas within its area of interest:

  • Cyprus exploration areas are centred on the Troodos ophiolite complex. The targeted mineralisation style is volcanic-hosted massive sulphide copper deposits under shallow cover rocks, similar to the larger past Cyprus copper mines - three of which exceeded 10 million tonnes of ore running at grades between 1% and 4.5%.
  • KEFI Minerals Plc was admitted to AIM in December 2006 and is 32%-owned by EMED Mining. 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. Visit www.kefi-minerals.com for further information.
  • Exploration in Slovakia is focussed on the recently recognised porphyry gold district where EMED Mining has discovered porphyry gold deposits at the Biely Vrch, Kralova and Slatinske Lazy Prospects. Further drilling of these prospects is planned for 2008 as well as other prospects within its large 100%-owned licence areas in the Central Slovakian Volcanic Field
  • Spain was added to the portfolio in May 2007 when EMED Mining was granted an option to acquire Proyecto de Rio Tinto, a copper mine and processing plant in Spain. The mine was placed on care and maintenance in 2001 due to then-prevailing low copper-metal prices of below $US1.00/lb.


Geographical Spread


Board of Directors and Key Management

Board of Directors
Ronnie BeevorNon-Executive Chairman
Aristidis (Harry) Anagnostaras-AdamsManaging Director
John LeachFinance Director
Dr Michael PriceNon-Executive Director
Gordon TollNon-Executive Director
Senior Management
Mr Ron CunneenGroup Head of Exploration
Dr Demetrios ConstantinidesGroup Head of External Relations
Mr William EnricoGroup Chief Operating Officer,
Mr Lakis KatsamasGroup Financial Controller
Mr Dereck GuilfoyleDrilling Manager
Dr Nicos AdamidesExploration Project Manager
Mr John IngramProject Geologist

Company Address

1, Lambousa Street
Nicosia, Cyprus 1095

Telephone:+357 2244 2705
Facsimile:+357 2242 1956
Email:info[at]emed-mining.com
Website:http://www.emed-mining.com

Additional Address/Key Contact

Registered Office:
1, Lambousa Street, Nicosia 1095, Cyprus.
Cyprus Office:
3, Ayiou Demetriou Street,  Acropolis 2012, Nicosia, Cyprus
Telephone: +357 2244 2705     Fax: +357 2242 1956
Slovakia Office:
Andreja Kmeta 8, Banska Stiavnica 969 01 , Slovakia 
Telephone: 421 45 679 0775
Spain Offices:
La Dehesa s/n, Minas de Riotinto, 21660 Huelva, Spain 
Telephone:  +34 959 592850

Capital

199.6 million shares and 36.7 million options (as at 27 May 2008).

Annual General Meeting

TBA

Year End

31 December

Nominated Brokers

Fox-Davies Capital Limited
GMP Securities Europe LLP
Lewis Charles Securities Ltd

Nominated Advisors

RFC Corporate Finance

Broker/Analyst Reports

17/07/08 - Edison Investment
11/07/08 - Hardman Research
09/07/08 - Fox Davies Flash Note
14/01/08 - Fox Davies Capital Flash Note
08/11/07 - Fox Davies Capital
01/11/07 - Fox Davies Capital

Major Shareholders

As at 27 May 2008, EMED Mining has:
* 199.6 million shares on issue and does not hold any shares in treasury and
* 36.7 million options and warrants on issue, with various exercise prices and expiry dates.
Other than under corporate law, there are no restrictions on the transfer of any securities.
As at 27 May 2008, the significant shareholders in the Company are:
* Oxiana Limited (12%)
* Resource Capital Funds (11%)
* Board of Directors (8%)
* RMB Australia Holdings Limited (5%)
* Fidelity International Limited (5%)
* Altima Partners (4%)
The percentage shareholding shown above for the Board of Directors also represents the percentage of shares not in public hands.

Related News

11/09/08 - EMED Mining Is Confident That Permits For Rio Tinto Will Be Close To Completion By The End Of September
18/06/08 - Attendees At EMED Mining’s Next AGM Will Hear The Deafening Sound Of An Operation Ramping Up At Rio Tinto
06/12/07 - EMED’s Market Capitalisation Lags The Value Of Its Assets By Some Way
01/11/07 - Two Undervalued Miners?
14/05/07 - EMED Mining Hopes To Make Swift Move Into Spanish Copper Production
07/02/07 - Commodity Watch Radio: Riding the Commodities Bull - An Exclusive Interview with Jim Rogers

Most Recent Statement

01/12/08 - UPDATE ON GOLD EXPLORATION IN SLOVAKIA
25/11/08 - Extension of Mine Life Plan
14/11/08 - APPOINTMENT OF LEAD-ARRANGER FOR FINANCING
31/10/08 - Quarterly Report
21/10/08 - Appointment of Director
01/10/08 - Restructure Of Rio Tinto Project Acquisition

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