5 Dec

Final Results 2012

Haresh Kanabar, IMIC’s Chairman, said: “We’ve made substantial progress during the financial year in laying the foundations for the successful delivery of our strategy for unlocking the value of iron ore in Africa. The current year has started well: we have the Board and advisory team, the balance sheet strength and the commercial relationships to achieve our ambition of becoming a significant player in Africa’s emerging iron ore market.”
 

Highlights


• Significant progress achieved in delivering IMIC’s strategy for becoming a major integrated iron ore company with development infrastructure and mining projects


• First infrastructure project announced in April 2012 – the Simandou South railway and seaport in the Republic of Guinea


• First strategic stake in a junior iron ore miner announced in July 2012 – a 3.9% holding in Afferro Mining Inc whose assets are in Cameroon


• IMIC’s Board strengthened with senior non-executive appointments and an Advisory Board established


• Balance sheet strengthened through a placing that raised £10 million gross in June 2012 and announcement of a US$50 million bond instrument in October 2012

Full announcement..