Last checked at 6 Oct 2015 11:20
Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company
6 October 2015
Armadale Capital Plc
(‘Armadale’ )
Notice of General Meeting
Armadale, the AIM quoted investment company focused on natural resource projects in Africa, announces that it has posted a notice of General Meeting to its shareholders. At the General Meeting, which will be held at 55 Gower Street, London WC1E 6HQ at 11.00a.m. on Wednesday 21 October 2015, resolutions will be proposed to approve the renewal of the directors’ authority to allot shares.
**ENDS**
Enquiries:
For further information please visit www.armadalecapitalplc.com or contact:
Armadale Capital plc
Peter Marks, Chairman +44 207 233 1462
Charles Zorab, Investor Relations
Nomad and broker: finnCap Ltd
Christopher Raggett/Simon Hicks +44 (0) 207 220 0500
Joint Broker: Beaufort Securities Ltd
Jon Belliss +44 (0) 20 7382 8300
Joint Broker: VSA Capital Ltd
Andrew Raca/Richard Buckle +44 (0) 203 005 5000
Press relations: St Brides Partners Ltd.
Hugo de Salis/Charlotte Heap +44 (0) 207 236 1177
Notes
Armadale Capital Plc is focused on investing in and developing a portfolio of investments, targeting the natural resources sector 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. Armadale’s primary project is the development of the Mpokoto Gold project in the Democratic Republic of the Congo, in which it owns an 80% interest. Mpokoto has a current Total Mineral Resource of 678,000 oz Au from 14.58 Mt @ 1.45g/t Au at a cut-off grade of 0.5g/t. An Expanded Scoping Study for Mpokoto demonstrated a post-tax net present value of US$55.3m based upon a discount rate of 8% and a gold price of US$1,250/oz. The Project is subject to four Mining Licences which are valid for an initial term of 30 years from 30 September 2014. Armadale also currently holds approximately a 30% interest in Mine Restoration Investments Ltd, a South African listed company, focused on the processing and sale of coal fines in KwaZulu Natal, as well as a number of other quoted investments.
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