Zincox Resources Plc Share Price (ZOX)

September 25, 2023

The Lusaka High Court has ordered Moxico Resources Zambia Limited and Euroafrica Kalengwa Mines Limited to pay US$ 21 million damages to Kalengwa Mineral Processing, the rightful owners of Kalengwa Mines in Mufumbwe district, North-Western Province.

This follows a judgment dated September 22, 2023, in which Judge Edward Musona declared Kalengwa Mineral Processing as the rightful owners of Kelengwa Mines and should, therefore, continue their operations.

He also ordered for Moxico Resources Zambia Limited and Euroafrica Kalengwa Mines Limited to pay damages to be quantified by the deputy registrar for the theft and pilfering of the plaintiff’s plant and equipment.

I suspect Moxico will time their listing to coincide with the strengthening price of Copper.

From the annual report

Additional projects in Zambia and in other jurisdictions are continuously considered, with the aim to generate further long-term shareholder value. Concurrent to that, the Company is pursuing its plan to list on the London Stock Exchange, which is still expected to occur in 2022.

Obviously the listing has been delayed.
Copper prices expected to boom next year.

From the annual report.

‘ …..the Company is pursuing its plan to list on the London Stock Exchange, which is still expected to occur in 2022.’