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EMED Mining has now completed the acquisition of the 49 per cent of its flagship Rio Tinto copper project in Spain which it did not previously own, paying the project's copper offtaker MRI with 39m new EMED shares at 21p each, leaving it with 16 per cent of the enlarged capital. EMED will pay MRI a further €43.8m (£34.7m) on various project milestones.
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EMED is down on our tip (Buy 27p, 19 June 2008) but with promising gold drilling results from Slovakia we reiterate that advice at 21p.
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-IC-1.5.4a-prod - 31/10/2008 13:11:34 - carlos.princz
