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EMED Emed Mining

4.25
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Emed Mining LSE:EMED London Ordinary Share CY0000100319 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 4.25 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Emed Mining Share Discussion Threads

Showing 76101 to 76122 of 88700 messages
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DateSubjectAuthorDiscuss
01/1/2015
14:59
Well theres nothing negative about starting at 9mtpa vs 5mtpa (if it is down to Traf). Yet Harry aimed at 9mtpa startup with expansion to 15mtpa.

Maybe Harry was right all along :)

deme1
01/1/2015
14:56
So Traf involvement a positive here if it allows us to start producing at 9 mtpa.
mcluvin
01/1/2015
14:49
One possible scenario is to use the shares remaining in the treasury for the equity element and debt finance the rest. This would surely have a positive effect on the share price, both now and in future, and maintain a reasonable degree of liquidity.

This is just one possibilty. There are, of course, countless others.

scrappycat
01/1/2015
14:25
'To reach this first goal, he indicates the company.......will need a further $150 million in loans and equity, tapping new and existing sources.'

A clear indication that debt financing will play a part i.e. not totally equity.

scrappycat
01/1/2015
14:25
DemeI'm still holding on, as I have said all is not lost
wanderer1210_0
01/1/2015
14:22
With Traf as a big influence now, it makes sence that we can jump the original 5 mtpa, with possible use of the matsa resources.

All the doom and gloom and a couple of long termers selling out is pure craziness!
A couple of weeks away from the biggest game changer emed will ever have, other than trebling resources ;).

Our only concern should be the finance package, and hints of equity, loans and offtakes from AL should put some minds to rest.

Here's to a pleasant 2015 guys.

PS Al hinting at 1st - 2nd week of Jan to me reinforces my opinion that Al has been told they are signed off yet he is waiting delivery and Junta fanfare (just like AS)

deme1
01/1/2015
14:04
Infact I do not see any copy write infringement so here is the full article Alberto Lavendeira, new chief executive officer at copper hopeful EMED Mining (EMED), sounds confident the AIM-quoted company will receive permission 'in the first or second week of January' to restore copper production at the historic Rio Tinto mine in the Spanish province of Andalusia, after a series of corporate upheavals and the departure of most of the AIM-quoted company's previous board.Now backed to the tune of nearly 20% by the £82 billion Dutch commodity trading giant Trafigura Beheer, EMED hopes to start production in the middle of 2015 at an initial annual rate of more than an originally planned nine million tonnes of ore from the mine, whose current resource is put at 223 million tonnes with 0.5% copper and much of that accessible by open-pit mining, while Lavendeira suggests there should be plenty more.To reach this first goal, he indicates the company, which recently fixed a £30 million loan facility from Trafigura and two other major shareholders, US-based Orion Mining Finance and a Hong Kong affiliate of Chinese copper group Xianguang Copper, will need a further $150 million in loans and equity, tapping new and existing sources. Lavendeira, formerly chief operating officer of EMED and with wide industry experience, says off-take deals with key shareholders could play a part for EMED, which lost £10.5 million in 2013 and another £4.5 million in the first half of 2014.Encouraged by the progress of talks with the Junta de Andalucia, Lavendeira says EMED already has 200 people and more than 150 contractors on site. With the company's shares down from a 12-month high of 10.75p to 5.23p now, he argues the project will break even at any copper price above $2 a lb, against today's depressed $2.86 a lb and prices five years ago topping $4 a lb.Citing recent shelving of major copper projects around the world and their likely impact on the supply/demand balance, Lavendeira notes the company, now valued at £79 million, is assuming a $2.75c-a-lb copper price, for a 14% internal rate of return, before planned expansion in a second production phase. However, he stresses 'we think the long-term price is $3.50c a lb,' which would significantly boost returns.Initially run by Australian entrepreneur Harry Anagnostaras-Adams, EMED attracted criticism from Trafigura and others about its funding abilities, relations with the Spanish authorities and potential conflicts of interests for directors linked to contractors -- though it is now tapping copper-using investors. Lavendeira notes Trafigura has been building up interests in Spain and points out the company is disposing of interests in Cyprus and Slovakia, while retaining a small stake in Kefi Minerals, a gold play in Ethiopia and Saudi Arabia chaired by Anagnostaras-Adamn.Lavendeira says EMED is now an inappropriate name, suggesting a medical company, but has not revealed what could replace it (Rio Tinto being, presumably unavailable). The shares are a play on copper's revival prospects.
wanderer1210_0
01/1/2015
13:59
Whoops wrong paragraph Now backed to the tune of nearly 20% by the £82 billion Dutch commodity trading giant Trafigura Beheer, EMED hopes to start production in the middle of 2015 at an initial annual rate of more than an originally planned nine million tonnes of ore from the mine, whose current resource is put at 223 million tonnes with 0.5% copper and much of that accessible by open-pit mining, while Lavendeira suggests there should be plent
wanderer1210_0
01/1/2015
13:57
FrogTo reach this first goal, he indicates the company, which recently fixed a £30 million loan facility from Trafigura and two other major shareholders, US-based Orion Mining Finance and a Hong Kong affiliate of Chinese copper group Xianguang Copper, will need a further $150 million in loans and equity, tapping new and existing sources. Lavendeira, formerly chief operating officer of EMED and with wide industry experience, says off-take deals with key shareholders could play a part for EMED, which lost £10.5 million in 2013 and another £4.5 million in the first half of 2014.
wanderer1210_0
01/1/2015
13:48
I can't log in to thatIs this the first time 9mtpa mentioned?That makes a huge difference a d definitely worth a few pence on the spThe only thing holding this back is permits and finance confirmation ( what will trafigura stake be)Imagine the leap if finance is not equity based !!!Happy new year allFrog
frogkid
01/1/2015
13:35
Thanks for the link Waterloo. Getting more interesting by the day?

I have been giving more thoughts to the possible new board structure. I still feel the wording of the RNS suggests one new non-exec. and two new exec.positions ( 1 x Traf.and 1 x Orion)otherwise why not just say three non-exec positions will be filled. (I suppose the language fluency of the writer might have to be taken into account.)

Moving this on, we no longer have a COO because AL has been promoted and as Executive Directors have a working role in the company, the COO role could be given to the Trafigura nominee. We have discussed previously the advantages of synergies taking place by involvement with Trafs local projects and the COO position could be important in this respect.

The Orion position is more difficult to assess.I have always believed they were interested in off-takes rather than having any hands-on involvement in companies so I can not see why an exec. role is required, they are better suited to a non-exec. role. This view is somewhat contrary to the one I believe is indicated in the RNS but we know from recent experience(I.Q) the choice of Directors is very important to us and I for one will view developments in this area with great interest.

If anyone feels my thoughts are worth further elaboration then I would be pleased to hear their take on this otherwise I guess we must wait with evermore patience to see how this all unfolds and how it will affect the future direction of the company.

Happy New Year everyone.

saint_b
01/1/2015
13:28
Pawsche Don't think so, it states new name change from EMED as long as it is not TRAGIXCO i don't mind!
wanderer1210_0
01/1/2015
13:07
I reckon that the "new name" was referring to AL - as the new name at the top...
pawsche
01/1/2015
12:36
It hasn't been called Eastern Mediterranean Resources since 2006.



the Company's name has been changed to EMED Mining Public Limited
("EMED Mining") with immediate effect.

zangdook
01/1/2015
12:30
Park - indeed! I've always imagined that the development of the logo went something along the lines of:
"I don't know what to do, Marge - I've got 24 hours to come up with the new logo and I don't know what to do" - as the creative director sat down to breakfast that morning...

Wonder what the new name will be? Proyectoriotinto seems one direction, but prt.es is taken... and Rio Tinto might complain...

duchaf
01/1/2015
12:22
Interesting interview. Thanks Waterloo.

9mtpa near startup is massive - large impact on NPV. should re-rate on this.

permits - sooner the better, really. (Also, if people believe him then we'll get significant t-trades from tomorrow)

Name - I have for ages thought that Eastern Mediterranean Resources is a stupid name for a company whose main project is in the western med... I normally think that new names don't make that much difference, but since the developments in 2014 (and particularly of the 23/24th) the company is in a new place and it is surely warranted...

Happy new year everyone!

duchaf
01/1/2015
11:30
Waterloo01: I am with you. Far too much doom & gloom.
The markets will be wobbly as they always are, but commodities are cyclical and value will always be identified idc.
This is a great interview and just the sort of thing a progressive CEO should be doing.
He is so confident:
Permits in first or second week of January
Production Middle of 2015
Starting at 9mtpa not 5mtpa. That is a big jump.
Resource; should be plenty more
Copper price - positive going forward
Change of name - sensible thinking. We need a fresh start with new investors. The past is best forgotten.

plasybryn
01/1/2015
11:18
Thanks but I just provided a link.

I do rather hope some of the doom and gloom posted here is just that. We've lived with a Euro crisis for some years (and money printing) but inflation is a long way off, the US is in full recovery (which should end up reflected across the globe, China in particular), the ECB will act in January (Greece depending) and the low commodity prices will stoke growth, so out of the gloom....

Hopefully a decent 2015!

waterloo01
01/1/2015
11:13
Would be good to change the name.
Too many negative connections and not spanish enough no doubt.

plasybryn
01/1/2015
11:11
Well done Waterloo01. Thanks for that. Encouraging stuff.
plasybryn
01/1/2015
11:06
Good post Waterloo.

They expect to start mining at an initial rate in excess of 9 mt pa?

stockknobjockeyvanbookstino
01/1/2015
10:54
After the issue of the RNS, it seems unlikely to me that he would have made such a statement unless he was pretty confident. Sounds promising
scrappycat
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