Focus on gold exploration
Mineral Invest's large concession area located in the Kilo-Moto Gold Belt in the DRC is highly under-valued. The company's concession in Ethiopia also has a great potential for containing mineral deposits for future mining operations. By conducting exploration activities substantial mineral resources can be identified, which in return will maximize Mineral Invest's shareholder value.
Mineral Invest's press release dated 23 March 2012 explains in detail the planned exploration activities in the Kilo-Moto Gold Belt.
Mineral Invest's Chairman explains;
"We have already contracted professional expertise to carry out important geophysical airborne surveying over our large concession area in the Kilo-Moto Gold Belt. This constitutes a substantial investment.
The flights will begin shortly, and the results will guide us to where future drilling will be made. We are very hopeful on the results. Within concessions adjacent to ours, major international mining companies have invested large sums in exploration and successfully proved major gold reserves. They will commence
mining and gold production in late 2013. Our near term focus will be to identify substantial mineral
resources and thereby enhance the market value of Mineral Invest. Small scale production from tailings has been discontinued."
Strategic adviser mandated to review the company
The Board has the opinion that Mineral Invest's competence and its future potential is not reflected in its current share price. The Board anticipates that further technical as well as financial resources will be
required to unlock the full potential of the projects. The Board has therefore mandated a strategic adviser to review various strategic options.
The companies Galaxis Capital LLP ("Galaxis") and JRS Asset Management Luxemburg ("JRS") have jointly been mandated to review the operations of Mineral Invest with focus on potential strategic and
financial alternatives. One alternative is to cooperate with a strategic partner in one or both of the projects.
As Mineral Invest is now entering a new phase, the Board has decided to appoint a new management team. Jonas Eriksson will leave his position as CEO effective immediately and is replaced on an interim basis by Nathan Medlock, partner at Galaxis Capital LLP. A new permanent CEO will be announced in due time.
Jonas Eriksson has successfully conducted the negotiations with SOKIMO resulting in the joint venture agreement, which constitutes the platform for Mineral Invest's future operations.
Nathan Medlock, acting CEO, has experience in cross border and international private equity investments in the US, Europe and Africa, as well as having worked in corporate finance and mergers and
acquisitions. Prior to Galaxis, he was an investment professional at Warburg Pincus LLC and Lehman Brothers International.
The chairman of the board, Fred Boman summarizes
"The board remains committed to maximizing shareholder value. The decision to focus on exploration and to review its strategic options is, we believe, the best way to achieve this goal. Our projects are attractive with future mining potential. Our management team has through hard and dedicated work acquired two promising concessions, which is not easily replicated. We have established strong local relationships and country-specific experience, which will have strategic importance to many parties. As a result of our most recent share issue, we now have a strong shareholder base that is committed to support our new strategy. I believe we have already come a long way, when we are now entering a new phase for Mineral Invest."
Board of Mineral Invest International MII AB (publ.)
For further information, please contact
Fred Boman, Chairman mob: +46 70 595 81 23, email: firstname.lastname@example.org
Peter Thysell, CFO and Deputy CEO mob: +46 70 661 05 59, email: email@example.com
About Mineral Invest:
Mineral Invest is a Swedish-based gold company focused on gold exploration and near-surface gold production in Africa. The Company currently holds exploration and exploitation licenses for a 1.442 km2 area in the Kilo-Moto Greenstone Belt in northeastern DR Congo and an exploration license for a 90 km2 area in Moyale in southern Ethiopia. The group mother company is registered in Stockholm, Sweden and the company's share is listed at AktieTorget in Sweden under the ticker symbol MII. For more information, please visit www.mineralinvest.com
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