MIR Mining Inv Re

TIDMMIR

RNS Number : 4205V

Mining Investments Resources PLC

14 January 2013

14 January 2013

Mining Investments Resources plc

Investments Update

Mining Investments Resources plc ("MIR" or "the Company"), an investing company which focuses on special opportunities in the resource sector announces a half yearly update on its investments portfolio.

The Company is engaged in two main areas of activity. Firstly MIR invests funds in the quoted shares of mining companies and secondly it is working assiduously to secure direct investments in unquoted mining companies in the Far East of Russia.

Investment Results

On 28 August 2012, the Company invested GBP563,834 of the funds raised in the financing which closed in August 2012. We are pleased to be able to report that MIR's portfolio had increased in value by GBP97,779 during the period from 28 August to 31 December 2012, an increase of 17.3 per cent.

Direct Investment Activity

MIR is actively engaged in the negotiation of its direct investment activities, principally in the Far East of Russia. Its focus is to secure investments which are attractive natural resource plays but which also have infrastructure already in place.

Discussions are ongoing with MIR's strategic alliance partner, Artel Vostok, to secure licences for three gold exploration structures which have been identified within the area of and surrounding some of Artel Vostok's alluvial gold placer mining activities and are believed to be the source of gold for the alluvial operations. Exploration of these areas can be carried out using the infrastructure in place for the alluvial operations and by contracting the exploration drilling subsidiary of Artel Vostok which has the equipment necessary for a full exploration program in place, including two Boart Longyear drill rigs.

MIR is also in active negotiations to secure several other investment opportunities of more advanced exploration and development projects, mainly in the precious metals sector in the Khabarovsk and Primorsky regions of Russia.

Enquiries

 
                          Mining Investments Resources 
Michael Nosworthy          plc                           +33 675657274 
 
                          Mining Investments Resources 
Steve Roberts              plc                             07812043436 
 
 
                          Northland Capital Partners 
Luke Cairns / Matthew      Limited 
 Johnson                   (Nomad and Joint Broker)      020 7796 8800 
 
                          Peterhouse Corporate Finance 
Peter Greensmith / Eran    Limited 
 Zucker                    (Joint Broker)                020 7469 0932 
 
Jonathan Anderson         Investor Relations               07950410680 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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