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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| London Mining | LSE:LOND | London | Ordinary Share | GB00B1VZK334 | ORD 0.2P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.70 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMLOND
RNS Number : 5395U
London Mining Plc
16 October 2014
London Mining Plc
Quoted on London AIM (LOND)
("London Mining" or the "Company")
16 October 2014
LONDON MINING PLC to enter ADMINISTRATION
Following a longer than expected period of negotiations between the senior lenders and the potential acquirers of the Marampa mine, as well as a lack of liquidity due to the dramatic fall in iron ore prices, the Board has decided that it must now place London Mining PLC into administration. The Board and management will be working with the administrator of London Mining PLC to maintain the Marampa mine as a going concern, although at this time this is not confirmed.
Graeme Hossie, Chief Executive of London Mining, said: "Since first entering Sierra Leone in 2005, London Mining has established substantial operations at Marampa having brought back commercial mining and related economic activity to the region after 40 years. I salute all our employees for their dedication and contribution in creating what is now an important part of Sierra Leone's economy and ongoing development. I also applaud them for the ongoing leadership role our team has played within the private sector in Sierra Leone in helping address the challenges of the current Ebola crisis. The Marampa mine retains excellent fundamentals and it is our sincere wish for it to find the appropriate financial support to continue operating over the longer term."
For more information please contact:
London Mining Plc Graeme Hossie, Chief Executive Officer Benjamin Lee, Chief Financial Officer Thomas Credland, Head of Investor Relations +44 (0)20 7408 7500 Liberum Capital (Nominated Adviser/Broker) Richard Crawley / Tom Fyson +44 (0)20 3100 2000 J.P. Morgan Cazenove (Broker) Ben Davies / Ignacio Borrell +44 (0)20 7742 4000 Buchanan Bobby Morse / Louise Mason +44 (0)20 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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