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Name change and growth for EMED - shares could well be very cheap

Spanish copper producer EMED Mining (EMED) plans to change its name to Atalaya Mining and to implement a one-for-30 share consolidation, as the AIM-quoted company prepares to boost annual production 50% to 7.5 million tonnes a year from the historic Rio Tinto mine near Seville. EMED, whose shares have fallen from a 12-month high of7.98p to 3.875p with copper in retreat, intends to reach that output level by the end of next June and lift it further to 9.5 million tonnes a year six months later  -- with expected extraction costs significantly below even today’s depressed copper price.

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