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28 Feb 2017 12:47
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company
Armadale Capital Plc (‘Armadale’ or ‘the Company’)
Directorate change
Armadale, the AIM quoted investment company focused on natural resource projects in Africa, announces that William Frewen has resigned from his role as Non-Executive Chairman of the Company with immediate effect.
The Company is actively seeking a replacement UK based Non-Executive Director and will update shareholders in due course.
**ENDS**
| Enquiries: | |||
| Armadale Capital Plc Charles Zorab, Company Secretary | +44 20 7233 1462 | ||
| Nomad and broker: finnCap Ltd Christopher Raggett / Simon Hicks | +44 20 7220 0500 | ||
| Joint Broker: Beaufort Securities Limited Jon Belliss | +44 20 7382 8300 | ||
| Press Relations: St Brides Partners Ltd Susie Geliher / Charlotte Page | +44 20 7236 1177 |
Notes
Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources and/or infrastructure sectors in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.
The Company owns the Mahenge Liandu graphite project in south-east Tanzania, which is now its main focus. The Project is located in a highly prospective region with a high-grade JORC compliant inferred mineral resource estimate of 40.9Mt @ 9.41% TGC. At least 32Mt of this resource has an average grade of 10.47% TGC, one of the largest high-grade resources in Tanzania, and work to date has demonstrated Mahenge Liandu’s potential as a commercially viable deposit with significant tonnage, high-grade coarse flake and near surface mineralisation (implying a low strip ratio) contained within one contiguous ore body.
Other assets Armadale has an interest in include the Mpokoto Gold project in the Democratic Republic of Congo and a portfolio of quoted investments.
More information can be found on the website www.armadalecapitalplc.com
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170228006000/en/
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