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08.12.2010
Ridgeback Global Resources Plc – Letter to the Shareholders
Ridgeback Global Resources Plc – Letter to the Shareholders
December 08th, 2010
Dear Fellow Shareholders:
2010 was an important year for Ridgeback Global Resources. Not only did we successfully list on the Frankfurt Stock Exchange, but we have solidified our contacts in Sierra Leone on the national, regional and local government levels. Ridgeback has successfully formed a joint venture company, Ridgeback Mining Sierra Leone, with prominent local land owners in the Kono District, providing the company privileged access of up to 1,000 acres of alluvial diamond and gold mining concessions in addition to those we already hold in Sierra Leone, two of which are in small scale operations since the end of October. These additional concessions provide Ridgeback an excellent opportunity to channel investment towards the rapid development of Sierra Leone’s vast diamond and gold resources.
In addition to the Sierra Leone projects, we have solidified our relationship with one of the most prominent underwater diamond miners in South Africa, Kobus Pansegrouw and his company, Panda Marine Mining and Exploration, and have secured an equity partnership in their multi-billion dollar projects that are also currently in operations, as well as additional projects that are in active negotiation.
As a part of Ridgeback’s ongoing efforts to become more visible to high level investors, the Ridgeback management team recently completed an extensive European Road show where we met with high net worth investors and fund managers that are specialised in the mining sector. The feedback we received was very positive. We are in active discussions with multiple groups for not only the full funding of our various projects, but also for the revenue producing off-take agreements.
The company’s focus within the next six months is to close a financing of EUR 5m to allow full scale production in the first three diamond and gold mining concessions in Sierra Leone as well as acquiring 34.9% of the underwater diamond mining specialists Panda Marine Mining and Exploration, South Africa. Ridgeback fully intends on capitalising on the huge opportunity of working with Kobus Pansegrouw and the entire Panda Marine Underwater Mining team by providing the necessary funds to add the their current mining fleet and helping to scale up production in the very near term.
And finally, Ridgeback has been speaking with leaders in the diamond and gold mining industries in a search to identify new senior management and advisors to join the company.
In summary, Ridgeback is poised to be a successful player in the diamond and gold industries of Africa, and to that end, we as a company have to be on the lookout for those talented individuals who can assist us in our rapid growth and development. And from ongoing discussions with our investors, it appears we will exceed our minimum funding requirements for the projects currently on the table, allowing us to expand into new ventures. This is excellent news for all involved with Ridgeback.
We greatly appreciate your support.
Very truly yours,
Timothy M. Cocker
Chief Executive Officer
About Ridgeback:
Ridgeback Global Resources Plc (“Ridgeback”), an exploration stage company, engages in the acquisition, exploration, and development of Diamond and Gold properties in Canada, Sierra Leone and South Africa.
Ridgeback has formed a strategic alliance with Ridgeback Mining Sierra Leone (RMSL), an established gold and diamond mining company in Sierra Leone, Western Africa. Ridgeback has agreed terms with RMSL for 5 years plus an additional 5 years option to enter into Joint Venture agreements on all current and future gold and diamond mining concessions secured through the joint venture partnership.
Additionally, Ridgeback has secured an option agreement with Panda Marine Mining and Exploitation Limited to own up to 34.9% of its stock, giving it access to the 118km2 marine diamond mining concession off the west coast of South Africa by the mouth of the Groen River and its marine mining technology.
The company also owns a 100% interest in the 3,524 hectare Ridgeback Diamond project in the Saskatchewan, a proven diamond rich area in Canada.
For more information about the company please visit www.ridgebackmining.com or www.ridgebackmining.de.
For any further information please contact our Investor Relations Team directly:
Investor relations phone: +44 (0)207 193 0540
Email: info@ridgebackmining.com
Germany office: +49 (0)7031 785 2789
Forward looking statements:
The Ridgeback Global Resources plc (“Ridgeback”) communications contains certain statements regarding future events (as understood in the U.S. Private Securities Litigation Reform Act of 1995) that express the beliefs and expectations of management. Such statements are based on current expectations, estimates and forecasts on the part of company management and imply various known and unknown risks and uncertainties, which may result in actual earnings, the financial situation, growth or performance to be materially different from the estimates expressed or implied in the forward-looking statements. Statements with respect to the future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe", "estimate", "may", "will", "should", "shall" and similar terms. Ridgeback is of the opinion that the expectations reflected in forward-looking statements are appropriate; however, it cannot guarantee that these expectations will actually materialize. Ridgeback does not assume any obligation to update these forward-looking statements or adapt them to future events and developments.
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December 08th, 2010
Dear Fellow Shareholders:
2010 was an important year for Ridgeback Global Resources. Not only did we successfully list on the Frankfurt Stock Exchange, but we have solidified our contacts in Sierra Leone on the national, regional and local government levels. Ridgeback has successfully formed a joint venture company, Ridgeback Mining Sierra Leone, with prominent local land owners in the Kono District, providing the company privileged access of up to 1,000 acres of alluvial diamond and gold mining concessions in addition to those we already hold in Sierra Leone, two of which are in small scale operations since the end of October. These additional concessions provide Ridgeback an excellent opportunity to channel investment towards the rapid development of Sierra Leone’s vast diamond and gold resources.
In addition to the Sierra Leone projects, we have solidified our relationship with one of the most prominent underwater diamond miners in South Africa, Kobus Pansegrouw and his company, Panda Marine Mining and Exploration, and have secured an equity partnership in their multi-billion dollar projects that are also currently in operations, as well as additional projects that are in active negotiation.
As a part of Ridgeback’s ongoing efforts to become more visible to high level investors, the Ridgeback management team recently completed an extensive European Road show where we met with high net worth investors and fund managers that are specialised in the mining sector. The feedback we received was very positive. We are in active discussions with multiple groups for not only the full funding of our various projects, but also for the revenue producing off-take agreements.
The company’s focus within the next six months is to close a financing of EUR 5m to allow full scale production in the first three diamond and gold mining concessions in Sierra Leone as well as acquiring 34.9% of the underwater diamond mining specialists Panda Marine Mining and Exploration, South Africa. Ridgeback fully intends on capitalising on the huge opportunity of working with Kobus Pansegrouw and the entire Panda Marine Underwater Mining team by providing the necessary funds to add the their current mining fleet and helping to scale up production in the very near term.
And finally, Ridgeback has been speaking with leaders in the diamond and gold mining industries in a search to identify new senior management and advisors to join the company.
In summary, Ridgeback is poised to be a successful player in the diamond and gold industries of Africa, and to that end, we as a company have to be on the lookout for those talented individuals who can assist us in our rapid growth and development. And from ongoing discussions with our investors, it appears we will exceed our minimum funding requirements for the projects currently on the table, allowing us to expand into new ventures. This is excellent news for all involved with Ridgeback.
We greatly appreciate your support.
Very truly yours,
Timothy M. Cocker
Chief Executive Officer
About Ridgeback:
Ridgeback Global Resources Plc (“Ridgeback”), an exploration stage company, engages in the acquisition, exploration, and development of Diamond and Gold properties in Canada, Sierra Leone and South Africa.
Ridgeback has formed a strategic alliance with Ridgeback Mining Sierra Leone (RMSL), an established gold and diamond mining company in Sierra Leone, Western Africa. Ridgeback has agreed terms with RMSL for 5 years plus an additional 5 years option to enter into Joint Venture agreements on all current and future gold and diamond mining concessions secured through the joint venture partnership.
Additionally, Ridgeback has secured an option agreement with Panda Marine Mining and Exploitation Limited to own up to 34.9% of its stock, giving it access to the 118km2 marine diamond mining concession off the west coast of South Africa by the mouth of the Groen River and its marine mining technology.
The company also owns a 100% interest in the 3,524 hectare Ridgeback Diamond project in the Saskatchewan, a proven diamond rich area in Canada.
For more information about the company please visit www.ridgebackmining.com or www.ridgebackmining.de.
For any further information please contact our Investor Relations Team directly:
Investor relations phone: +44 (0)207 193 0540
Email: info@ridgebackmining.com
Germany office: +49 (0)7031 785 2789
Forward looking statements:
The Ridgeback Global Resources plc (“Ridgeback”) communications contains certain statements regarding future events (as understood in the U.S. Private Securities Litigation Reform Act of 1995) that express the beliefs and expectations of management. Such statements are based on current expectations, estimates and forecasts on the part of company management and imply various known and unknown risks and uncertainties, which may result in actual earnings, the financial situation, growth or performance to be materially different from the estimates expressed or implied in the forward-looking statements. Statements with respect to the future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe", "estimate", "may", "will", "should", "shall" and similar terms. Ridgeback is of the opinion that the expectations reflected in forward-looking statements are appropriate; however, it cannot guarantee that these expectations will actually materialize. Ridgeback does not assume any obligation to update these forward-looking statements or adapt them to future events and developments.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B608XL77">http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B608XL77</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.