KIG Mining Plc.
KIG Mining Plc:Funding for resumption of operations is in place for the Silverstream project
KIG Mining Plc / Contract Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Esher, 30.07.2009 - KIG Mining, Plc. ('KIG')(FWB - '5KM'): With the current acquisitions from BRC-DiamondCore, negotiations are being finalised to include all its South African assets in the agreement including the kimberlitic pipes. GEM has secured a EUR10 million line of funding for KIG Mining Plc which will be utilised for the settling of major creditors of BRC Diamondcore Ltd, resumption of the mining operations at the Silverstreams plant and the further development of the existing plant to increase production. Staff that was retrenched due to the 'care and maintenance' under which the plant was put, will be re-employed and additional job opportunities will be created by the expansion of the processing plant which will be a welcome boost in the social upliftment of the local community. Progressive negotiations are on track on the acquisition of rich Diamond deposits in South Africa's west coast as well as an operation on kimberlitic pipes in Botswana. Various other alluvial and kimberlitic deposits are also under consideration. KIG Mining Plc is foreseeing a highly lucrative long term operations in this historically proven mineral rich regions in Southern Africa. Chairman KIG MINING PLC Thames House, Portsmouth Road Esher, Surrey KT10 9AD United Kingdom Contact: Mr. Vicken Kaprelian (CEO) Tel: +27 837 377 543 Fax: +27 866 706 978 Email: ir@kigmining.com web: www.kigmining.com About KIG Mining Plc. KIG Mining Plc is a public company, registered under the laws of the United Kingdom. The southern African operations are managed from the KIG Mining offices in Pretoria, South Africa with field offices near the relevant mining sites. The company's business is focused on gold and diamond mining and has been active in various concession areas in West Africa. Since 2008, the company started moving interest to southern Africa and has been investigating several opportunities in the sub-continent. During the first quarter of 2009 it was ultimately decided by KIG Mining Plc's board of directors to move the focal point to southern Africa in order to benefit from a higher mineral deposit, proven quality and minimised risk. First properties have been acquired on the Orange River, downstream from the legendary Kimberley region in South Africa, known for its proven high quality gem diamonds. Progressive negotiations are on track regarding the acquisition of rich gold deposits in eastern South Africa as well as an operation on kimberlitic pipes in Botswana. Various other alluvial and kimberlitic deposits are also under consideration. With the current acquisitions, KIG Mining Plc is foreseeing a highly lucrative long term business growth in this historically proven mineral rich region. KIG MINING PLC Thames House, Portsmouth Road Esher, Surrey KT10 9AD United Kingdom Contact: Mr. Vicken Kaprelian (CEO) Tel: +27 837 377 543 Fax: +27 866 706 978 Email: ir@kigmining.com web: www.kigmining.com 30.07.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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