Mineseeker in negotiations in Southern Africa

February 27, 2012

Mineseeker Operations management team flew to Johannesburg, South Africa yesterday for a series of important meetings concerning the Memorandum of Understanding signed earlier this month.

Mineseeker has already formed a joint venture company (Mineseeker Southern Africa Ltd) and will be opening negotiations for aerial survey contracts aimed at liberating large sections of land affected by unexploded ordnance (UXO).

Mineseeker CEO, Mike Kendrick and Commercial Director Mark Dorey are visiting the area for four days of meetings, scheduled with governments and stakeholders representing the contaminated areas, with a view to formalizing and scoping the projects, and establishing the commercial structure and pricing of the potential contracts.

Mineseeker will also be meeting representatives of several other Southern African countries to discuss the way in which the company’s unique multi-spectral imaging radar system could bring benefit in helping to combat the problems they face with landmines and unexploded remnants of war.

In keeping with the company’s aims of not just releasing the land affected by mines, but also establishing sustainable futures for the local populations, under its strategy of compassionate capitalism, a meeting has been scheduled with one of South Africa’s largest retail chains to discuss the Aid Free Zone marketing and retail proposition. The company will be looking for further investment partners in order to meet its objectives in the region and will meet with a company that has made a specific proposal for the funding of the coconut factory in Mozambique. Pursuant to this Mineseeker is investigating restructuring the Aid Free Zone business to accommodate the offer, with the benefit of reducing ongoing funding requirements as the business grows.

Chief Executive, Mike Kendrick commented, ‘This is a very important series of meetings for us as a company and this is the culmination of a considerable amount of work by our regional Managing Director, Eric du Plessis, in bringing this through to fruition’.

‘It is clear that the governments in Southern Africa are determined to return as much land to their people as possible and Mineseeker can offer a cost effective means of helping them achieve this humanitarian goal, in a shorter time frame than previously deliverable’.

A report of the outcomes of the meeting will be made available on the return of the management team to the UK.