Acquisition and option over Uranium concentrates

 
TIDMEML 
 
For immediate release: 12 November 2010 
 
                            Emerging Metals Limited 
 
                  ("EML", "Emerging Metals" or "the Company") 
 
               Acquisition and option over Uranium concentrates 
 
Emerging Metals Limited (AIM: EML), the mining company focused on minor and 
emerging metals, is pleased to announce that it has contracted for the physical 
delivery of 25,000lbs triuranium octocide ("U3O8") and has entered into an 
option agreement for the physical delivery of a further 200,000lbs U3O8. 
 
The contracts are in line with the Company's investing policy approved by 
shareholders at its meeting of shareholders on 16 April 2010 which encompasses 
exposure to Investment Metals including but not limited to the acquisition of 
physical quantities of Investment Metals commodities. 
 
The physical delivery contract is priced at US$58.00 for each and every pound 
of U3O8 delivered and is in respect of 25,000lbs U3O8. Delivery to a conversion 
facility in Canada is due on 17 January 2011 with cash payment (equivalent to GBP 
898,723 at GBP/$ 1.6134) by no later than 18 January 2011. 
 
The option contract is in respect of 200,000lbs U3O8 for physical delivery by 
book transfer at a designated facility and expires on 31 January 2011. An 
option premium of US$500,000 (equivalent to GBP309,905 at GBP/$ 1.6134) is payable 
on 17 November 2010 and the additional option strike price is US$59.00 per 
pound U3O8, or a total US$11,800,000 (equivalent to GBP7,313,747 at GBP/$ 1.6134). 
 
Stephen Dattels, Emerging Metals Co Chairman commented: 
 
"Uranium pricing prospects remain strong. The ability for the Company to invest 
in physical quantities of investment metals as well as mining projects gives us 
the flexibility to capitalise on shorter term pricing movements with the 
objective of generating meaningful returns to shareholders. Whilst cash 
available for investments remains strong, we are confident this first physical 
commodity investment will rapidly demonstrate the value of our broader 
investing policy to shareholders." 
 
                                  -- Ends -- 
 
Contact details 
 
  Emerging Metals    Religare Capital   Fox-Davies Capital          GTH 
      Limited             Markets             Limited 
                                                              Communications 
 
Denham Eke                 Peter         Daniel Fox-Davies       Toby Hall 
                      Trevelyan-Clark 
                                                             Christian Pickel 
                       Emily Staples 
 
[phone]   [phone]     [phone]     [phone] 
                           0800                5200                3900 
 
 
 
END