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New battle erupts at EMED Mining

By Robert Tyerman | Thursday 16 October 2014


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Multinational commodities group Trafigura, largest shareholder in AIM and Toronto-quoted EMED Mining (EMED), has stirred a flurry in the company’s shares by calling for the removal of most of its board to ‘bring about much-needed change’.  Having spent some £18 million earlier this year buying an 18% stake in EMED, Trafigura has called for a special investors’ meeting, claiming the present EMED board, under chairman Ronnie Beevor and chief executive officer Isaac Querub, ’is failing to serve the interests of shareholders’  and arguing the company, as currently constituted, lacks the financial resources and management capabilities to achieve its goal of reopening the historic Rio Tinto copper mine in the Spanish province of Andalusia.


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