September 25, 2017 11:19 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Emerging Market Minerals plc

Company Overview

Emerging Market Minerals PLC operates as a mineral exploration company. The company focuses on the discovery, analysis, and exploitation of uranium, thorium, and other mineral exploration projects, including precious and base metals, such as platinum group metals, gold, copper, lead, manganese, zinc, and gemstones. It owns exploration and commercial mining rights for uranium and thorium in an area comprising 38 blocks covering approximately 14.84 square kilometers in the Tranomaro area of southern Madagascar. The company was formerly known as LP Hill PLC and changed its name to Emerging Market Minerals PLC in December 2014. Emerging Market Minerals PLC is based in London, the United Kingdom.

30 Portland Place

London,  W1B 1LZ

United Kingdom

3 Employees

Phone:

44 20 3637 5933

Fax:

44 20 3637 5971

Key Executives for Emerging Market Minerals plc

Executive Chairman
Age: 65
Compensation as of Fiscal Year 2017.

Emerging Market Minerals plc Key Developments

Emerging Market Minerals Announces Cancellation Of Admission To Trading On AIM

Trading on AIM for Emerging Market Minerals plc’s ordinary shares of 0.1 pence each, fully paid has been cancelled from February 17, 2017, 7:00 am, pursuant to AIM Rule 1.

Emerging Market Minerals Announces Resignation of Roy Spencer from the Board

Emerging Market Minerals announced that Roy Spencer, a Non-Executive Director of the Company, has resigned from the Board with immediate effect to focus on his other business interests.

Emerging Market Minerals Enters into Additional Unsecured Loan Facility

Emerging Market Minerals announced that it has entered into a further working capital loan facility with Matryoshka Ltd. for an amount of up to £250,000. This Facility is in addition to the loan facility of £100,000 provided by Matryoshka to the Company on 30 March 2016, which has been fully drawn down. The Facility is unsecured and has a fixed term of eighteen months, at which time it will be repayable in full, together with an interest payment, accrued daily, of 5% per annum, in cash. In the event of any default the interest rate will increase to 8%. The Company is currently evaluating a number of possible opportunities and, in the event that a suitable project is identified, the Company intends to seek to secure sufficient additional funding to pursue such opportunity at the appropriate time. In the event that the Company undertakes a further financing by way of an equity issuance of in excess of £4,000,000 prior to 31 December 2016, any amounts undrawn under the Facility will no longer be made available to the Company. Whilst the proceeds of the Facility will be used for the Company’s immediate working capital purposes, the ability of the Company to continue as a going concern will be dependent on raising further funds to meet its ongoing operational and capital commitments, including those relating to sourcing, evaluating and acquiring potential new assets.

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Recent Private Companies Transactions

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