AFF Afferro Min

TIDMAFF

RNS Number : 8023K

Afferro Mining Inc.

28 August 2012

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.

28 August 2012

   TSX-V:     AFF 
   AIM:         AFF 

AFFERRO MINING INC.

Publication of Q2 2012 Results

The Board of Afferro Mining Inc. announces the release of its financial results for the second quarter ended June 30 2012. The Financial Statements should be read in conjunction with the accompanying Management Discussion and Analysis. These documents have been filed on Sedar and are available on the Company's website www.afferro-mining.com or at www.sedar.com.

For further information please contact one of the following:

Afferro Mining Inc.

Bevan Metcalf

Tel: +44 (0) 20 7257 2930

Investec

Nominated Adviser: Neil Elliot

Corporate Broker: Chris Sim

Tel: +44 (0) 20 7597 5970

RBC Capital Markets

Joint Broker: Martin Eales / Richard Hughes

Tel: +44 (0) 20 7653 4000

Pelham Bell Pottinger

Daniel Thöle / James MacFarlane

Tel: +44 (0) 20 7861 3232

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. Nkout comprises an NI 43-101 compliant indicated mineral resource estimate of 1.19 Bt at 32.9% Fe and an inferred mineral resource estimate of 1.33 Bt at 30.3% Fe plus an NI 43-101 compliant preliminary economic assessment. Afferro currently has a cash position of approximately $48m, plus a deferred cash consideration of at least $50m resulting from the divestment of its interest in Severstal Liberia Iron Ore Ltd., leaving it well placed for medium-term funding of all its projects.

Qualified Person

Howard Baker (MAusIMM(CP)) has 18 years' experience in the mining industry and 10 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.

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEANPLAFFAEFF

Afferro Min (LSE:AFF)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025

Afferro Min (LSE:AFF)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025