RNS Number : 1692D
Alexander Mining PLC
27 November 2009
27th November 2009
Alexander Mining plc
("Alexander" or the "Company")
Appointment of Somerley Limited as Financial Advisor in
Connection with Chinese Mining Partner Financing
for a Potential Major Base Metals Sector Transaction
Alexander Mining plc is pleased to report that it has signed an agreement with Somerley Limited ("Somerley") for it to act as the Company's financial advisor in connection with finding a Chinese mining partner to finance a potential major base metals sector transaction, which is subject to a competitive tender process.
Established in Hong Kong in 1984, Somerley is a leading independent specialist financial services company. It is actively engaged in transactions relating to mainland China involving evaluation of assets and businesses, raising finance, searching for international strategic investors/partners and providing general corporate advice. In 2003, it opened a representative office in Beijing and it now has approximately 50 staff in its Hong Kong, Beijing and Shanghai offices.
After some two decades and hundreds of transactions, Somerley has a proven track record of providing innovative, value-adding and top-quality corporate finance advisory services to its clients. It is regularly placed as the most active M&A advisory firm in Greater China and in Asia-Pacific, excluding Japan. Based on deals announced, in an M&A league table of financial advisers to Greater China by number for the first half of 2009, it was ranked in first place, with thirteen transactions valued at US$2,438m.
The Company will pay Somerley an engagement fee of US$75,000, to be satisfied, at the Company's election, by payment in cash or shares in the Company at a price to be mutually agreed.
For further information please contact:
Martin Rosser Matt Sutcliffe
Chief Executive Officer Executive Chairman
Mobile: + 44 (0) 7770 865 341 Mobile: +44 (0) 7887 930 758
Alexander Mining plc
1st Floor
35 Piccadilly
London
W1J 0DW
Tel: +44 (0) 20 7292 1300
Fax: +44 (0) 20 7292 1313
Email: mail@alexandermining.com
Website: www.alexandermining.com
Nominated Advisor and Broker
Alasdair Younie/John Prior
Arbuthnot Securities Limited
Arbuthnot House
20 Ropemaker Street
London
EC2Y 9AR
Tel: +44 (0) 20 7012 2000
Public/Media Relations
Tim Blackstone
Britton Financial PR
62 Britton Street
London
EC1M 5UY
Tel: +44 (0) 20 7242 9786
Mobile: +44 (0) 7957 140 416
Email: tim@brittonpr.com
Appendix
Background notes for editors
Alexander Mining plc
Alexander, through its wholly owned subsidiary MetaLeach Limited, is solely focused on the commercialisation of its proprietary mineral processing technologies. Alexander has already received test-work payments and the pipeline of amenability test-work programmes is increasing steadily. A major campaign to grow this revenue stream is under way, with the aim of securing future royalties and/or free carried equity interests in attractive base metals projects and/or mines.
AmmLeach®, for which patents are pending, has the potential to revolutionise the extraction processes for high acid consuming copper and zinc oxide deposits. The operating cost differential between AmmLeach® and conventional heap leaching treatment methods for high sulphuric acid consuming ores and the AmmLeach® ammonia process is a significant order of magnitude in AmmLeach®'s favour.
The AmmLeach® process was developed as a result of Alexander's successful pilot plant demonstration at its Leon copper project in Argentina and subsequent research and development. As well as copper oxides, AmmLeach® has excellent potential for developing a new SX-EW process for producing high purity zinc metal or an intermediate product at the mine.
The zinc process has been trialled successfully on a bench scale and larger scale test-work is imminent. The AmmLeach® process leaches common zinc oxide minerals with high extraction efficiencies and offers a potentially economic processing route for many zinc oxide deposits that are currently economically unviable.
This information is provided by RNS
The company news service from the London Stock Exchange
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