SOURCE: EMED Mining Public Limited

July 03, 2013 02:07 ET

EMED Mining Public Limited Quarterly Operational Update

NICOSIA, CYPRUS--(Marketwired - Jul 3, 2013) - EMED Mining Public Limited (TSX: EMD)



  EMED Mining is listed on AIM (Code: EMED) and the TSX (Code: EMD)

                           3 July 2013

EMED Mining Public Limited (AIM: EMED, TSX: EMD) ("EMED Mining" or "the
Company"), the Europe-based minerals development and exploration
company, is pleased to announce the following operational update for
the period 01 April 2013 to 30 June 2013. The full Quarterly Report,
including consolidated Financial Statements and the Management
Discussion and Analysis, will be issued in mid-August 2013.

Harry Anagnostaras-Adams, Managing Director and CEO of EMED Mining,
commented:"Along with the regulatory authorities of the Andalucian
Government we
are focussed on triggering project works at the Cerro Colorado open pit
of the Rio Tinto Copper Mine around the end of 2013 and production in
late 2014."We are pleased to report public affirmation of this timetable by
Andalucian Minister for Industry, Mr Antonio Avila, who recently in a
press conference confirmed EMED Mining's forecast calendar for
achieving later this year the key permits required to trigger site
start-up works."

Spain-Rio Tinto Copper Project

Project Plans:

* The Company targets for site works to start at end-2013, initial
production in late-2014 and ramp-up to base case production of 37,000
tonnes pa of copper in concentrate by end-2015. The engineering, human
resources and other preparatory activities will continue to advance as
warranted by regulatory permitting.

* As regards exploration potential, the Company reported its
successful application for the Aguilas Two Exploration Licence located
8 kilometres from the Rio Tinto Copper Project. Combined with the
Company's other ancillary local mineral concessions, this reinforces
the Company's 100%-ownership of the tenements for the Rio Tinto Copper
Project and surrounding district.

* The Company plans drilling programmes during the initial restart
works, with a view to expanding planned annual production and project
life from the Cerro Colorado Open Pit and also from the higher-grade
underground mines on the property.


* The Company has completed and lodged the reports requested by
the Andalucian Government's Departments of Industry and Environment to
substantiate compliance with the conditions set in April and May 2013
respectively for the tailings management facility (TMF). The completion
of these reports allows the processing of the permits required prior to
site start-up works - mainly Environment Plans (AAU) and Administrative
Standing (AS).

* The completed reports include plans for: (a) tailings deposition
density and location within the already-approved wall height and
footprint of the TMF, (b) progressive rehabilitation of the TMF, and
(c) management of process water for recycling within the production
circuit and of rainwater for diversion away from the site.

* The next steps for approval of these TMF refinements include the
formal issuance of an "independent opinion of viability" by the
Government's independent technical expert CEDEX and public comment in
respect of the changes to Environmental Plans to reflect these TMF
refinements, followed by issuance of draft approvals and then final

* The Company has also formalised its commitment to complete the
due diligence to support the grant of the Mining Permit for operations
to commence next year and to the requested research and development
during operations to optimise sealing waste dumps and tailings deposits
upon final site closure.

Slovakia:In Slovakia, the Detva Gold Project's Mining Lease Area has
been approved at the District Level. However local activists have
elevated community concerns and the Company currently focuses on
community education and consultation.

KEFI Minerals: Affiliate KEFI Minerals (15%-owned by EMED Mining)
reported maiden JORC compliant inferred resource of its G&M Joint
Venture's gold discovery at the Jibal Qutman exploration licence in the
Kingdom of Saudi Arabia.


* The Annual General Meeting was held at Minas de Riotinto, with
all resolutions being passed by shareholders.

* GBP9.6 million (approximately US$15 million) conditionally raised
through the issue of new convertible secured loan notes to XGC and Red

* The Notes convert into Ordinary Shares at 9 pence per share
which represents a premium of 58% over the current 5 day
volume-weighted average price of the Ordinary Shares on AIM ("VWAP")
immediately prior to the day the proposed financing was announced on 13
June 2013;

* Proposed increase in the existing off-take arrangements with Red
Kite and XGC;

* The Company's Directors and other officers exercised any
expiring options which were in the money;

* An updated Shareholder Power Point Presentation has been
uploaded to the Company's website.

Corporate Directory

Directors      Non-Executive Chairman - Ronnie Beevor

               Managing Director - Harry Anagnostaras-Adams

               Finance Director - John Leach

               Non-Executive Directors - Jasper Bertisen, Roger Davey,
               Robert Francis, Harry Liu, Ashwath Mehra,Jose Sierra
               Lopez .

Nominated      RFC Ambrian Ltd - Stuart Laing (+61 8 9480 2500)

Brokers        Fox-Davies Capital Limited - Susan Walker (+44 203 463

               Canaccord Genuity - Craig Warren (+1 416 869 7316)

Public         Bishopsgate Communications - Nick Rome (+44 207 562 3366)

Share          Computershare Investor Services

Issued         30 June 2013
               1,186 million shares on issue

               169 million options and warrants on issue

               1,355 million shares on issue on a fully diluted basis

Significant    Xiangguang International Holdings (China)            17%
               Resource Capital Funds (USA and Australia)           12%
diluted)       Red Kite                                              7%

               RBC Asset Management (Canada)                         7%

               RMB Australia Holdings Limited (Australia and         5%

               Rumbo 5-Cero                                          4%

               Management and Board (excl. the companies they        4%


Investors/Media: Harry Anagnostaras-Adams +357 9945 7843.

In North America: Andreas Curkovic +1 416-577-9927

General: Email: 

Cautionary Notes

This announcement contains "forward looking information" within the
meaning applicable Canadian securities legislation. "Forward looking
information" may also include statements with respect to the future
financial or operating performance of the Company, its subsidiaries and
its projects, the future price of metals, the estimation of ore
reserves and resources, the conversion of estimated resources into
reserves, the realisation of ore reserve estimates, the timing and
amount of estimated future production, costs of production, capital,
operating and exploration expenditures, costs and timing of the
development of new deposits, costs and timing of future exploration,
requirements for additional capital, government regulation of mining
operations, environmental risks, reclamation expenses, title disputes
or claims, limitations of insurance coverage and the timing and
possible outcome of pending litigation and regulatory matters. Often,
but not always, forward looking statements can be identified by the use
of words such as "plans", "expects", "is expected", "budget","scheduled",
"estimates", "forecasts", "intends", "anticipates" or"does not anticipate",
or "believes" or variations (including negative
variations) of such words and phrases, or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved. Accordingly, readers should not place undue
reliance on forward looking statements.

Forward looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company and/or its subsidiaries to
be materially different from any future results, performance or
achievements expressed or implied by the forward looking statements.
Such factors include, among others, general business, economic,
competitive, political and social uncertainties; the actual results of
current exploration activities; actual results of reclamation
activities; conclusions of economic evaluations; changes in project
parameters as plans continue to be refined; future prices of metals;
the future costs of capital to the Company; possible variations of ore
grade or recovery rates; failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes and other risks of
the mining industry; political instability, terrorist attacks,
insurrection or war; delays in obtaining governmental approvals or
financing or in the completion of development or construction
activities, as well as those factors discussed in the section entitled"Risk
Factors" in the Company's annual information form.

Although the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward looking statements, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. Forward looking statements
contained herein are made as of the date of this announcement and the
Company disclaims any obligation to update any forward looking
statements, whether as a result of new information, future events or
results or otherwise. There can be no assurance that forward looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward looking statements.

                    This information is provided by RNS
          The company news service from the London Stock Exchange


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