Emed Mining Share Discussion Threads

[wanderer1210_0] 26/12/2014 10:37

Another thing which is way over the top, why on earth do we need 27 lab techs? Many bio companies don't employ this many people, are the Junta demanding this number of employees?

[mcluvin] 26/12/2014 10:34

Van was correct on IQ's departure so I'm going to say placing at 7p. That makes this a big buy at the current level.

[wanderer1210_0] 26/12/2014 10:24

DemeIMO the placement as yet to come, circa 5p, just watch

[deme1] 26/12/2014 10:23

Fools

I think you set on the notion that we are all going to get screwed!
What would you have said if emed announced a placement of x amount of shares for the
$30mil? I think you would have been suicidal lol

[cufes2] 26/12/2014 10:12

Re dividends . . . a big favourable placing will keep them "in house" . . .

Re administration . . . all three would have lost their initial investment . . . (and they nearly have run out of cash reading the RNS) . . .

[deme1] 26/12/2014 09:58

I see what you are saying fools and lets face it everyone in thus world is out to make money. I just wonder what input the Junta have on emed and the II's with reference to the way this mine is run. Most probably NIL input but surely with them looking for future investment In the minjng revival then shareholders in their crown
Jewel project getting screwed over will not prove favourable for following projects.

For what its worth I think it was a fantastic deal, as if the II's wanted to screw us they could have waited for us to run out of cash ;)

[laurence llewelyn binliner] 26/12/2014 09:52

This could happen in theory CuFeS2, but why would they do that to the company that they own 20% of the shares in ..? when you can double/treble/quadruple (I prefer the 4 bagger myself) your asset value thro' building the business and share price ., equally longer term when the company is making good profits and returning a dividend, 20% of the dividend pot payout is a pretty penny too, and over 20 years.

So instead of just having their cake (ore), they can eat it too with lashings of creamy dividend sauce.. :o)

Just looking at the flipside to give perspective and balance.

[cufes2] 26/12/2014 09:40

My general points are . . . for months we have been told finance is sorted and is not an issue . . . this news suggests to me this view was very wrong . . . for months we have been told our "cornerstone investors" are supportive of the BOD . . . this news suggests to me they are in fact more than happy to jump in to bed with Trafigura . . .

My specific point is the companies could have been more supportive and offered better terms . . . they haven't and this suggests to me they are in it for whatever they can milk from the business and are in de facto control here . . . so IMHO neither of the supposedly supportive cornerstone investors or Trafigura are interested in other shareholders . . . consequently there is a risk the major shareholders can load the business with debt at favourable rates to themselves and/or ensure a placing at a preferential price and take even more control of the business at the expense of PIs . . .

In short, I think (i.e. I can't prove it) the major shareholders will maximise returns from loans, off takes and share placings at the expense of PIs . . . I hope I'm wrong, but ask yourself what you would do in their shoes . . .

[langerman] 26/12/2014 09:36

I thought AIM was trading today

[deme1] 26/12/2014 09:33

The €/$ 30mil is just lost in translation IMO Duchaf. We would have not needed the bridging loan if finance was sorted. It was even stated in the rns that finance was ongoing.

[mds2028] 26/12/2014 09:32

I tick you for that Wanderer, lets hope so as that would be a great result, as long as the Off takes are at Market prices and not some silly discount

[stockknobjockeyvanbookstino] 26/12/2014 09:17

The loan terms are perfectly reasonable and in line with normal market practice and could be considered favourable as an unsecured facility.

[wanderer1210_0] 26/12/2014 08:58

LLBHere is my guess $30m in equity the remainder in off takes. I expect news on Monday

[laurence llewelyn binliner] 26/12/2014 08:50

Doesn't sound unreasonable does it..? traditional mining bank debt is 10-12% as a comparison.We need to raise $130M in the next round.The bottom line is without this 30 we will clock up empty in a weeks time, so it has to happen. It's another hurdle less as we get sight of opening day...!

[rogash] 26/12/2014 07:48

I am sorry if I am being thick,but I do feel that the cost of the loan is reasonable.Please correct me if my workings are wrong.
Interest at 10% p.a. = $3m or .75m for 3 months
arrangement fee to each lender of
2.5% of their share of the loan = .75m
aggregate cost. = 1.5m
total $3.00m = £1.92m

[duchaf] 25/12/2014 23:46

Wanderer - I don't know. The 24th announcement was $30m, this is e30m, so not the same. It sounds like a placing, but it might just be a language issue... Dunno.

[wanderer1210_0] 25/12/2014 23:18

Maybe the publication was too late for a RNS yesterday? Fools Gold you are wasting your breath mate, Traf are a push over and will throw money at EMED for little return lol

[wanderer1210_0] 25/12/2014 23:15

DuchafGood find, in my intoxicated state, is this a placement on the Company register? It certainly looks like a capital increase, will find out Monday

[cufes2] 25/12/2014 23:13

No, they don't have to "follow the norm" they could loan the money at any rate they want . . . After all, it is their money . . . But no, EMED are paying 10% interest, a 2.5% arrangement fee AND reimbursing due diligence and other associated costs . . . IMHO EMED had no alternative but to bend over and take one from the three major shareholders . . . That doesn't look very friendly to me . . .

[duchaf] 25/12/2014 22:35

I don't know what this means... Did something happen on the 15th? Or is this just the news from the 24th? Given Spanish official publications it probably is about something that happened months ago.



525 258 - EMED TARTESSUS SL.
. Capital Capital: 5,000,000.00 Euros. Resulting Signed: 30,000,000.00 Euros registry data T 1001, F 54, S..
8 HH 18233, I / A 20 (15/12/14).

[the 15th was about the share price low - did someone know something?]

Still - happy Christmas everyone... !

[mronions] 25/12/2014 20:37

the money's we are getting is short term and looks unsecured . that is why it's expensive . the fact that it's unsecured is a massive vote of confidence. The three parties who are giving this money all have to follow the norm for this type of lending ... it's not a mortgage ! So even if they are our corner stone shareholders and this now includes Trafigura , they can't just hand over the money . Deal terms will be better with project finance / permits included in the bundle.

[the charmer] 25/12/2014 18:56

Guys. Regarding the RNS yesterday about Board Changes where it says:"As part of this financing, and having consulted with its major shareholders, as the Company moves towards a new phase from the development to the operation of a major copper mine, the Board believes that it is appropriate for certain Board changes to occur to reflect this change. Accordingly Ronnie Beevor, Isaac Querub Caro, Ashwath Mehra and Bob Francis have all agreed to resign from Board."I, personally do not read anything untoward with the above four Board resignations, as it clearly stated.... "as the Company moves towards a new phase from the development to the operation of a major copper mine."This suggests to me, that they have fulfilled their remits and that they will be looking for more suitable directors for the operation stage. All good news, in my opinion.Gla!

[laurence llewelyn binliner] 25/12/2014 13:22

The Company has also agreed with Orion and XGC that, conditional on draw down of the initial instalment of the Loan, the maturity date of the secured convertible loan notes issued in July 2013 shall be extended to be consistent with the date for repayment of the Loan (the "Note Extension").

My mistake duchaf, they are extended, and the cumulative interest will be rolled up together as and when they mature, (date tbc)

Jan and Feb '15 are going to be busy and exciting months for us all with the RP/MP/financing plan to be announced.

I can't see us retracing again now we are funded up to the end of the IGME/CEDEX extension period, and permitting could come in at any time.. ;o)

[duchaf] 25/12/2014 13:07

LLB - I thought the RNS said that the loan notes that were due on the 12th have been extended.