Register
Login:
Share:
Email Facebook Twitter


Exclusive: Hayden Locke, CEO Emmerson plc, a low cost high margin potash investment
Richard Slape, Oil consultant - Avoiding Losers and Picking Winners, his personal strategy


Alliance News


Armadale Capital Enters Agreement To Sell Mpokoto Gold Project

Fri, 11th Jan 2019 09:12


LONDON (Alliance News) - Investment company Armadale Capital PLC on Friday said it entered into a formal agreement with African Royalty Co Pty Ltd for the sale of its non-core Mpokoto Gold project in the Democratic Republic of Congo.

Under the agreement, Arrow Mining Pty Ltd, a company associated with African Royalty, will take over operations of the project. Arrow will pay Armadale a 1.5% royalty on gold sales achieved once in production.

"The transaction allows Armadale to focus on advancing its primary value driver, the high-grade Mahenge Liandu Graphite project in Tanzania, whilst ensuring the company retains exposure to the development upside of the Mpokoto Project," the company said.

Armadale shares were trading up 3.9% at 0.99 pence each.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Alliance News



Back to Alliance News


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk




Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.