NICOSIA, CYPRUS--(Marketwired - May 14, 2013) -
TSX; EMD QUARTERLY FINANCIAL REPORT 14 May 2013 EMED Mining Public Limited (AIM: EMED, TSX: EMD) ("EMED Mining" or "the Company"), the Europe-based minerals development and exploration company, announces its unaudited results for the three months ended 31 March 2013. The full unaudited Quarterly Report (as required by Toronto Stock Exchange reporting standards), including consolidated Financial Statements and the Management Discussion and Analysis relating to the Company, are also under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.emed-mining.com . Period Highlights Spain - Rio Tinto Copper Project: * An Updated NI 43-101 Independent Technical Report was published reporting that capital and operating cost estimates are consistent with recent guidance published by the Company; * The Andalucian Government's Department of Industry formally notified the remaining conditions for Administrative Standing (or "Titularidad Administrativa"), (the administrative approval of the Company's mineral rights) namely: .a preliminary report from technical agency CEDEX on the viability of the project after taking into account restrictions imposed on the tailings management system, and .approval by the Andalucian Government's Department of Environment of the Unified Environmental Authorisation ("AAU"), being the environmental plan; * The Company has implemented the requested civil liability insurance policy for the tailings facility; * The Andalucian Government completed the public comment period for the "Class B Resources", the recycling of precious-metal rich tailings via the Company's joint venture with local investment group Rumbo 5-Cero; * The Company registered the incorporation of the EMED Foundation for Economic Diversification, which will commence operations with mine production. Slovakia - Detva Gold Project * The national Mining Bureau is considering whether to ratify the approval of the Mining Lease Area. Corporate * The Cyprus banking crisis had no notable impact on the Company. * The Company is still in a closed period. Explanatory Comments as Regards Regulatory Permitting in Spain * Approval of the environmental plan by Andalucia's Department of Environment and of Administrative Standing by Andalucia's Department of Industry are the two principal permits required for construction works to commence * The two departments are currently focused on ensuring that the conditions formally set for Administrative Standing are duly taken into account in the approvals process for the environmental plans * The current focus of the Company's permitting team is to serve the Andalucian Government's desire to resolve these matters mid-year and, to that end, to assemble the due diligence required by CEDEX as regards the tailings management system. The financial impacts were considered within the estimates reported in the Updated NI 43-101 Independent Technical Report in February, the physical works required for CEDEX due diligence were completed in March and satisfactory preliminary conclusions by the various specialist consultants were tabled in April. Harry Anagnostaras Adams, Managing Director of EMED Mining, commented: "We target starting works next quarter. Obviously this relies on receiving the requisite permits, the progress of which remains encouraging and steady, albeit slow due to the caution and care being exercised." Enquiries Investors/Media: Harry Anagnostaras-Adams +357 9945 7843, Roger Howe +61 405 419 139 In North America : Andreas Curkovic +1 416-577-9927 This information is provided by RNS The company news service from the London Stock Exchange END
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