Share Issue in London Mining

* Reuters is not responsible for the content in this press release.

Thu Apr 10, 2008 5:36am EDT 

  LONDON, Apr 10 (MARKET WIRE) -- 

London Mining has on 9 April 2008 issued 161,453 shares at a price of NOK
17. After the transaction, the total number of outstanding shares in the Company
is 100,853,795.

    The issue is  related to an  obligation to issue  Ordinary Shares  in
settlement of an amount of USD 500,000 (GBP 251,181) to a consultant for
services
provided in the conduct of negotiations with regards to the  acquisition of
the mining lease  in respect of the marampa iron ore mine in Sierra Leone.

    The number  of Ordinary  Shares was  determined by  reference to  the
Initial
Public  Offer  price  per share  immediately  prior  to  such listing of NOK
17, translating to 161,453 Ordinary Shares.

    The amount  was due  at 31  December  2007, but  as the  shares  were
subject
to a 6 months hold after  the listing on 9 October 2007,  the shares were
listed on 9 April 2008.


For further information, please contact:

London Mining Plc
Christopher Brown, Managing Director, +44 (0) 20 7495 6210
Graeme Hossie, Corporate Development & Deputy Managing Director,  +44
(0) 20 7495 6210

    
About London Mining Plc

    Incorporated and registered in the UK, London Mining is developing mines to
supply
the global steel industry.  The Company has operational mining, exploration
and development projects located in Brazil, Sierra Leone, Greenland and
Mexico. In 2007, London Mining raised over US$125million in equity and US$60m in
debt to finance development and expansion of its operations to meet the demand
of
world steel consumption. Core near term objectives:

      * Ramping up production to over 5mtpa from its operating itabirite    
iron ore
mine in Brazil

      * Bringing into production a previously mined specular hematite     iron
ore
operation in Sierra Leone

      * Completing feasibility studies on the Wadi Sawawin project under     a
joint venture with the National Mining Company of Saudi Arabia

      * Completing feasibility studies on a major magnetite iron ore     deposit
in Greenland

      * Continuing exploration under a 49% JV on an exploration magnetite    
deposit
in Mexico.

    On 9 October 2007, London Mining listed on the Axess market of the Oslo
Stock
Exchange (www.osloaxess.no) and trades under the Reuters symbol LOND.OL and
Bloomberg symbol LOND.NO.  Please also visit our website
www.londonmining.co.uk for more information about London Mining and its
operations.

    Share Issue in London Mining:
http://hugin.info/137683/R/1208158/249217.pdf

    Copyright Copyright Hugin AS 2008. All rights reserved.

    



Copyright 2008, Market Wire, All rights reserved.

-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.