EL Mining PLC
Location: South Western Ethiopia
Sector: Mining and Materials
Start Date: December 2010
Deal Size: $1-5 million
Status: Capital Raising, Strategic Advisory
EL Mining PLC, based in Addis Ababa, Ethiopia, is a gold exploration company with principle areas under license in Western Ethiopia. Encouraged by the conducive and attractive investment climate in the mineral resources sector in particular, and the country in general, El Mining has been engaged in this sector since 2007. El Mining has an established technical team composed of highly qualified and experienced professionals. The company has been granted a license from the Ministry of Mines & Energy of the Ethiopian Federal Democratic Republic to mine gold and other minerals in large scale at Oromia National Regional State, Western Wellega zone.
inSight and EL Mining began speaking in late 2010 to discuss EL Mining's then-current gold mining operations, principally the (now four-year) gold concession in South Western Ethiopia, with various mineral and chemical analyses completing in the area and home to significant competition from multinational gold and precious metals players.
Capital raising and the establishment of end-user demand in gold markets were the two principle mandates by EL Mining. Additional strategic advisory is provided throughout the early years of the project post-drilling.
Core drilling is set to begin in early 2012. inSight has brought to the table several leading private equity firms with principle investments in the gold and previous metals industries. Additional mineral analyses expected end of 2011.