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19 Sep 2011 15:50
Mwana Africa PLC (the "Company")
Clarification regarding Freda Rebecca press coverage
London, 19 September 2011- The Company would like to respond to recent press articles referencing production rates, production costs and forecast production at Freda Rebecca, its gold mine in Zimbabwe.
These press articles do not reflect the Company's official position on production status, operating costs or forecast production targets at the mine. The Company would like to direct shareholders to the last quarterly update dated the 10th of August 2011 available at www.mwanaafrica.com/ir/press.asp. The Company will update the market in October 2011 on its operating performance for the quarter to September 2011.
The Phase 2 production target remains 50,000oz per annum (4,167oz per month) and the Company remains confident that this target rate will be reached in the quarter ending 30th of September 2011.
Furthermore, the Company would like to state that no further fundraising is required for Freda Rebecca Gold Mine.
Enquiries:
Mwana Africa PLC
Donald McAlister / Lorenz Werndle Tel: +44 (0) 20 7654 5580
Nominated Adviser and Broker
Ambrian Partners Limited Tel: +44 (0) 20 7634 4700
Anthony Rowland / Jen Boorer
Joint Broker
XCAP Securities plc Tel: +44 (0) 20 7101 7070
Jon Belliss / John Grant / Parimal Kumar
Public Relations
Merlin Tel: +44 (0) 20 7726 8400
David Simonson / Anca Spiridon
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