Britannia Mining, Inc. (OTC Pink: BMIN) (PINKSHEETS: BMIN) ("Britannia" or the "Company"), a UK-based mining development Company, announced today, that European private equity firm, REM Capital, has provided Britannia with a draft timetable for an intended third quarter capital infusion.
Now positioned to generate sustainable revenue through two ready mined iron ore supply outlets, secured in the first quarter by Britannia's CEO Kenneth Roberts, investment opportunities have solidified substantially. An investment package originally contemplated by REM Capital at the beginning of the year (http://finance.yahoo.com/news/britannia-mining-talks-european-finance-141144320.html), has now come into play.
Mr. Kenneth Roberts stated, "We are certainly prepared to properly leverage and deploy this capital in the immediate execution of our ready mined operations in Malaysia, as well as the expansion of our exploratory and development operations in both Malawi and the Yukon."
The company anticipates that it will begin yearly distribution of roughly 1.2 million metric tons (http://finance.yahoo.com/news/britannia-executes-second-mou-valued-130000753.html;_ylt=AwrBJR7rSotT3nIAvl.TmYlQ) of ready mined iron ore through Malaysian ports. Management has indicated, that while the anticipated revenues are substantial, the upcoming capital infusion will better position Britannia to take a larger stake in Malaysian export operations, significantly increasing the ready mined revenue model.
Mr. Roberts concluded, "With a funding commitment of this size, we expect that in 2014, we will be able to begin growing Britannia to an economic level our shareholders will appreciate and greatly benefit from."
About Britannia Mining
Britannia Mining is a natural resources development company that is focused on acquiring high quality mineral, mining and other commodity based projects. The company is committed to developing revenues by conducting exploration, evaluation and trading activities. The company's mission is to secure commodities by developing immediate and near term product pipelines for iron ore and other natural resources.
The Company is targeting revenue producing assets and is currently in negotiations regarding acquisition and trading of mineral stockpiles.
The company has been developing a high grade iron ore project in Malawi and is currently renewing the Exclusive Prospecting License (EPL) for iron ore over 650 sq. km at Nthale Blantyre. The company is targeting 100 Million Tons (MT) iron at Nthale Hill (20 sq. km).
Britannia Mining has inherited the legacy projects (Gold claims) of the former Micron Enviro Systems in the Yukon and plans to conduct sampling on this area.
For more information, please visit www.BritanniaMining.com.
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may,'' "should,'' "expects,'' "plans,'' "anticipates,'' "believes,'' "estimates,'' "predicts,'' "potential'' or "continue'' or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors'' in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov. For all details regarding working interests in all of BMIN's mining prospects or any previous news releases go to OTC Markets website. You should independently investigate and fully understand all risks before making investment decisions.
SOURCE: Britannia Mining Inc.