Business
Trading Statement for Q1 2016
Trading Statement for Q1 2016.
About this update from Aterian Plc
[{"type":"text","content":"\n \nRNS Number : 1690B Equatorial Mining & Exploration PLC 14 June 2016 \n\n \n14th June 2016\n \n \nEquatorial and Mining Exploration PLC (\"EME\" or \"the Company\")\n \nTrading statement for the first quarter period: January to March 2016\n \n \nIn accordance with the ISDX Growth Market - Rules for Issuers, Part 2 paragraph 50, Equatorial Mining and Exploration Plc is obliged to announce a trading statement in relation to the first quarter of 2016. This follows EME's recently modified Going Concern status as disclosed in the annual accounts for the year ended December 2015.\n \nIn the Chairman's statement, announced as part of the annual accounts on 31st May 2016, a summary of trading to the date of the announcement was made along the following lines:\n \nThe Company had engaged the services of a contract mining company to open up an access road into the centre of a planned Mining Lease in anticipation of its imminent grant. Encouragingly, EME's operating company in Nigeria, received a letter of confirmation from the Mining Cadastre Office in April that the Lease would be granted subject to the payment of a final fee amounting to about £15,000.00.\n \nSince the receipt of the above mentioned letter, the Company has maintained discussions with the its share, warrant and loan holders concerning the urgent need for additional funding to advance the exploration plan and as working capital to maintain the fabric of the Company. Such discussions continue and in the meantime the directors have limited EME's activity to the bare essentials needed to preserve the Company's existence.\n \nThe Company will announce a half year trading update at the end of this month.\n \n \nEnquiries:\n \nEquatorial Mining & Exploration Plc: \nEmail: [email protected] \nNicholas Nelson, Executive Chairman \n \nCORPORATE ADVISER AND CONTACT DETAILS:\nAlexander David Securities Limited \nDavid Scott - Head of Corporate Finance \nJames Dewhurst - Institutional Sales \nTelephone: +44 (0) 20 7448 9820\nhttp://www.ad-securiti...