LONDON (Alliance News) - Armadale Capital PLC Monday said its 40%-owned Mining Restoration Investments Ltd has successfully commenced commercial coal briquetting operations in South Africa.
The AIM-listed natural resource project investment company said MRI?s coal briquetting plant successfully commenced operations in October and that the ramp up in operations at the site is expected to contribute to MRI's overall profitability.
Armadale Capital also said it remains focused on increasing its investment in Netcom Global Inc, which holds a right to an interest in the highly prospective Mpokoto Gold Project in the Democratic Republic of Congo.
Armadale shares were up 11.5% to 0.290, putting it in the top ten AIM movers Monday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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Armadale Capital (ACP)