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8 Jul 2013 07:02
8 July 2013
Mwana Africa PLC
("Mwana" or the "Company")
Financing Update
The Board of Mwana today announces that, further to the update made on 24 June 2013, several funding options are being actively considered by the Board and include, amongst others, an equity placing and funding at project level.
For further information contact:
Mwana Africa PLC Tel: +44 (0)20 7654 5580
Donald McAlister / Lorenz Werndle
Nominated Adviser and Broker
Liberum Capital Limited Tel: +44 (0)20 3100 2000
Michael Rawlinson / Tom Fyson / Christopher Kololian
Joint Broker
Peel Hunt Tel: +44 (0)20 7418 8900
Matthew Armitt / Andy Crossley
Public & Investor Relations
Tavistock Communications Tel: +44 (0)20 7920 3150
Ed Portman / Mike Bartlett / Simon Hudson
About Mwana Africa PLC
Mwana Africa PLC is a pan-African, multi-commodity mining and development company. Mwana's principal operations and exploration activities cover gold, nickel, copper and diamonds in Zimbabwe, the DRC and South Africa.
Mwana's Freda Rebecca gold mine in Zimbabwe, having restarted operations in 2009, produced 65,350 ozs of gold in the 12 months to March 2013.
In February 2013, Mwana announced that the gold mineral resource at its Zani Kodo project in Democratic Republic of Congo had increased to 2.6 million ounces.
In February 2013, Mwana announced it had signed a Joint Venture Agreement with Zhejiang Hailiang Company Limited to jointly explore some of its copper license areas in the Katanga Province of the DRC.
The restart of operations at The Trojan Nickel Mine (owned by Mwana's Zimbabwe subsidiary Bindura Nickel Corporation ("BNC")) followed four years during which all of the BNC assets were on care and maintenance. In September 2012, BNC carried out a restructuring and recapitalisation involving US$23m being invested into BNC which has allowed it to restart the Trojan mine. First sale of concentrate to Glencore took place in April 2013.
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