On February 6, 2012, Yanggu Xiangguang Copper Co. Ltd ("XGC") entered into an agreement with AIM and TSX-listed EMED Mining Public Limited (“EMED Mining”) whereby a subsidiary of XGC agreed to subscribe for 105,378,519 new ordinary shares of EMED Mining (representing approximately 11% of the issued capital of EMED Mining) for approximately US$15 million. On March 22, 2012, the final condition to this subscription agreement was satisfied and the new ordinary shares were admitted to trading on AIM. On February 6, 2012, XGC also entered into a commitment letter with EMED Mining which contains the indicative terms for a US$15 million cost overrun support facility. In addition, a subsidiary of EMED Mining has granted XGC off-take rights over a portion of future copper production at EMED Mining’s Rio Tinto Mine in Spain. These arrangements with XGC, together with project finance negotiations currently underway by EMED Mining, represent part of the overall financing program for the restart of commercial operations at the Rio Tinto Mine. Fasken Martineau advised XGC on this transaction with a team comprising Thomas Wexler, Mark Camilleri, Michael Kashis and Anne Cobbett.