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EMED Mining Mandates Goldman Sachs For $175 Million Finance

Date : 05/03/2012 @ 09:00
Source : Dow Jones News
Stock : Emed Mining (EMED)
Quote : 6.75  0.125 (1.89%) @ 12:37

EMED Mining Mandates Goldman Sachs For $175 Million Finance

Emed Mining (LSE:EMED)
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EMED Mining Public Ltd. (EMED.LN), a Europe-based minerals development and exploration company, said Monday it has formally mandated Goldman Sachs International on an exclusive basis to provide and/or arrange up to $175 million of finance to the Company, or a subsidiary, for the restart of the Rio Tinto Copper Mine.

MAIN FACTS:

-Financing is intended to be in the form of a copper pre-sale agreement.

-Under agreement EMED Mining will deliver the equivalent value of copper to Goldman Sachs on a monthly basis over a seven year term.

-Shares in London at 0825 GMT up 1 pence, or 10%, at 14.625 pence valuing the company at GBP113.92 million.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com



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