Earlier this month, Emed Mining Public Ltd (LON:EMED) announced that its listing on the Toronto Stock Exchange was active, at last! The Stock Code there is TSE:EMD. The shares were listed at a price of C%17.5 cents [C$0.175] and closed on Friday at C$0.19. This of course means that the share is now ISA-able and, with the help of the excellent people at Selftrade, my EMED shares now lie in my ISA, after a quick bed and ISA transaction! So George Osborne will not get his hands on any future EMED profits of mine!
One more of the many intricate steps also needed for EMED to receive the go ahead from the local government [the Junta of Andalucia] has been taken. EMED recently were able to announce that the fourth signature had been added to a formal letter from the Liquidation Committee of the previous owners confirming the transfer of certain aspects of the ownership. This letter now has four signature out of a possible six. It was an important step in the interminable process of re-opening the Rio Tinto mine as the confirmation that the majority of the Liquidation Committee were in favour of the transfer, has been insisted upon by the Junta.
So it looks as though the way is now a bit clearer for this re-opening and the Riio Tinto mine may even be in production before the end of 2011 as forecast by EMED a year or so ago. The EMED share price fluctuated between 9p and 12p in December.
Meanwhile, Kefi Minerals Plc (LON:KEFI) - an EMED subsidiary, is also awaiting important news from Saudi Arabia. Here they are in a joint venture with ARTAR, a major Saudi construction company, and have submitted a total of 21 Exploration Licence Applications [ELAs] following Field Reconnaissance over some years. It is understood that the first few of these exploration licences is expected soon [But to be honest - they have been "expected" for the last three or four month!]. All the ELAs are in areas of historic gold mining and both EMED and KEFI sound quite excited about the possibilities.
KEFI also has potential in Turkey and EMED has its own gold interests in Slovakia with the Detva Gold Project in…
the Hapless Punter Theatre Company proudly presents “The Story of EMED Mining”. A gripping five act drama featuring courageous exploits, deception, betrayal, ultimate redemption, shareholder dilution and some mildly offensive national stereotyping. In the spirit of the pantomime season, please cheer for your heroes and boo the villains.
http://boards.fool.co.uk/nicky-fraser-share-comp-emed-mining-12143140.aspx?sort=whole#12143450
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