Ridgeback Global Resources, Plc. Secures Nationwide Mining License from the Government of Sierra Leone
(firmenpresse) - Ridgeback Global Resources, Plc. Secures Nationwide Mining License from the Government of Sierra Leone
March 01, 2011 - Ridgeback Global Resources Plc. (“Ridgeback”), a Diamond and Gold Mining Developer focused on African and Canadian mining properties, has today announced its receipt of a nationwide mining license from the Ministry of Mining in Sierra Leone. This license provides Ridgeback full mining rights to any new concessions it secures, in addition to its existing mining claims in the Kono District, the country’s prominent diamond and gold mining district.
The granting of the nationwide license will allow Ridgeback, through their local joint venture company, Ridgeback Mining Limited, to identify and secure additional mining properties to their current portfolio in Sierra Leone. Management have targeted several additional diamond and gold concessions and are currently performing due diligence. Ridgeback expects to introduce these new mining assets in the 3rd quarter of 2011.
Ridgeback currently owns the mining rights to 3 diamond and gold mining concessions in the Kono District, the most mineral-rich region of Sierra Leone - in the Nimikoro Chiefdom, the Nimiyama Sewafe Chiefdom and the Sandoh Chiefdom.
Tim Cocker, CEO of Ridgeback stated, “This is a great step for Ridgeback on our road to prominence in diamond and gold mining in Sierra Leone. Our previous certification recognized Ridgeback as a fully registered company with all the rights thereof, and our regional chiefdom licenses granted us the joint venture partnership to mine the existing concessions we have in place, but having secured the nationwide mining license for Sierra Leone gives us carte blanche to mine whatever concessions we can secure in the country. This was a huge and necessary step for our long term growth strategy. Our local partners’ knowledge, expertise and contacts within the country’s mining community provides us privileged access to some of the best mining territories available, something we believe we can capitalise on in the near future given our ability to mine countrywide.”
Mr Cocker concludes “The Company’s near term focus remains on proving its mining capabilities within its existing claims in the Kono District. This new license paves the way for long term growth in the company, which helps us to attract the necessary Joint Venture partners with which to form strategic alliances to scale up operations and help build long term value for our shareholders.”
About Ridgeback:
Ridgeback Global Resources Plc (“Ridgeback”), engages in the acquisition, exploration, and development of Gold and Diamond properties in Sierra Leone, South Africa and Canada.
Ridgeback has formed a strategic alliance with Ridgeback Mining Sierra Leone (RMSL), an established gold and diamond mining company in Sierra Leone, Western Africa. Ridgeback has agreed terms with RMSL for an initial term of 5 years, with 5 year extensions, to enter into 40% ownership Joint Venture agreements on all current and future gold and diamond mining concessions secured through the joint venture partnership.
Additionally, Ridgeback has secured a J/V agreement with Panda Marine Mining and Exploration, Ltd. to own up to 34.9% of its marine diamond reserves in South Africa with an estimated value of 14.1 billion USD.
The company also owns a 100% interest in the 3,524 hectare Ridgeback Diamond project in the Saskatchewan, a proven diamond rich area in Canada.
For more information about the company please visit www.ridgebackmining.com or
www.ridgebackmining.de or www.ridgebackmining.ru.
For any further information please contact our Investor Relations Team directly:
Investor relations phone: +44 (0)207 193 0540
Email: info(at)ridgebackmining.com
Germany office: +49 (0)7031 785 2789
Forward looking statements:
The Ridgeback Global Resources plc (“Ridgeback”) communications contains certain statements regarding future events (as understood in the U.S. Private Securities Litigation Reform Act of 1995) that express the beliefs and expectations of management. Such statements are based on current expectations, estimates and forecasts on the part of company management and imply various known and unknown risks and uncertainties, which may result in actual earnings, the financial situation, growth or performance to be materially different from the estimates expressed or implied in the forward-looking statements. Statements with respect to the future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe", "estimate", "may", "will", "should", "shall" and similar terms. Ridgeback is of the opinion that the expectations reflected in forward-looking statements are appropriate; however, it cannot guarantee that these expectations will actually materialize. Ridgeback does not assume any obligation to update these forward-looking statements or adapt them to future events and developments
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Datum: 01.03.2011 - 09:08 Uhr
Sprache: Deutsch
News-ID 28297
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