THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR
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INTO THE UNITED STATES,
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Afferro Mining Inc
TSX-V: AFF
AIM: AFF
International Mining & Infrastructure Corporation
PLC
AIM: IMIC
LONDON, UK, July 18, 2013 /CNW/ - IMIC and Afferro have
agreed to amend the Arrangement Agreement, details of which were
announced on 24 June 2013. The
amendment provides for the extension of the outside date to
29 September 2013 to allow both
parties to prepare all necessary documentation. All other
commercial details of the Arrangement Agreement remain
unchanged.
Further Information on Afferro and
IMIC
Further information on Afferro and its assets
can be found at www.afferro-mining.com
Further information on IMIC can be found at
www.imicplc.com
A copy of the arrangement agreement will also be
filed on Sedar and can be found at www.sedar.com
Advisors
Canaccord Genuity Limited is acting as Afferro's
exclusive financial advisor in relation to the Transaction.
Investec is Afferro's Nominated Advisor and Joint Broker. RBC
Capital Markets is Afferro's Joint Broker.
Merrill Lynch International ("Bank of America
Merrill Lynch"), a subsidiary of Bank of America Corporation, is
acting exclusively for IMIC in connection with the Transaction and
for no one else and will not be responsible to anyone other than
IMIC for providing the protections afforded to its clients or for
providing advice in relation to the Transaction.
WH Ireland is IMIC's Nominated Advisor and Joint
Broker. Ocean Equities Limited is IMIC's Joint Broker.
About IMIC
International Mining Infrastructure Corporation
plc (IMIC), in conjunction with its privately held strategic
partner African Iron Ore Group (AIOG), is working to unlock value
in the metals and mining industry in West and Central Africa by providing infrastructure
solutions, for railways, deep-water ports, power and/or iron ore
beneficiation, that will allow the region's emerging iron ore
projects to develop into globally significant export
operations.
IMIC and AIOG are well positioned to partner
African host countries in the delivery of infrastructure
arrangements, and to assist with initiatives that best address the
long-term aspirations of their governments and people.
China, as
consumer of 70% of the world's seaborne iron ore, is key to this
opportunity. A best in breed alliance of Chinese construction and
equipment groups and iron ore off-takers has been carefully
assembled to provide funding and delivery of projects and onward
sale of iron ore.
AIOG's major infrastructure project, in
partnership with IMIC, is the Simandou South iron ore project in
the Republic of Guinea, where
there is an agreement with the Guinean government to deliver a
multi-purpose, multi-user infrastructure solution which ultimately
could become the backbone of the country's transport network.
IMIC also takes strategic stakes in junior
miners with the intention of benefiting from the uplift in value
once an infrastructure solution is initiated.
IMIC shares are traded on the London Stock
Exchange's AIM market under the ticker symbol IMIC.
About Afferro Mining Inc.
Afferro is an established exploration and development company
listed on the TSX-V (AFF) and AIM (AFF). Afferro's portfolio
includes the 100% owned Nkout, Ntem and Akonolinga iron ore
projects. It also holds a 70% interest in the Ngoa project, an
exploration target bordering Nkout. All projects are subject to
government rights. Nkout has a National Instrument 43-101 ("NI
43-101") compliant Indicated Mineral Resource Estimate of 1.6Bt at
33.3% Fe and an Inferred Mineral Resource Estimate of 0.9Bt at
30.8% Fe. In addition Nkout has a NI 43-101 compliant Preliminary
Economic Assessment ("PEA") which indicates that the project is
economically viable. Ntem comprises a NI 43-101 compliant Indicated
Mineral Resource Estimate of 39.1Mt at 34.0% Fe and an Inferred
Mineral Resource Estimate of 76.4Mt at 34.2% Fe.
Qualified Person
Howard Baker
(MAusIMM(CP)) has 19 years' experience in the mining industry and
11 years' experience in the exploration, definition and mining of
iron ore mineral resources. Mr Baker is a full-time employee of SRK
Consulting (UK) Ltd., an independent consultancy, and has
sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration, and to the
type of activity which he is undertaking to qualify as a Qualified
Person in accordance with NI 43-101 and a Competent Person as
defined in the June 2009 Edition of
the AIM Note for Mining and Oil & Gas Companies. Howard Baker consents to the inclusion in the
announcement of the matters based on their information in the form
and context in which it appears and confirms that this information
is accurate and not false or misleading.
Forward-looking Statements
This announcement includes certain
forward-looking statements. All statements, other than statements
of historical fact, included herein are forward-looking statements
that involve various known and unknown risks and uncertainties as
well as other factors. Such forward looking statements are subject
to a number of risks and uncertainties that may cause actual
results or events to differ materially from current expectations,
including delays in obtaining or failure to obtain required
regulatory approvals. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements.
Information about the risks and uncertainties of
the Company's business is provided in its disclosure materials,
including its Annual Information Form and the MD&A for the 12
months ended 31 December 2012,
available under the Company's profile on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actions, events or results to differ materially
from those described in forward looking information, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. The
forward-looking information contained herein, speaks only as of the
date hereof (unless stated otherwise) and, except as may be
required by applicable law, Afferro disclaims any obligation to
update or modify such forward-looking statements, either as a
result of new information, future events or for any other
reason.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Afferro Mining Inc.
