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AFCR extends Dalny payment date

AFCR extends Dalny payment date

Photo by Bloomberg

30th June 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – As Aim-listed African Consolidated Resource’s (AFCR’s) buy-out of the Dalny mine heads to Falcon Gold Zimbabwe (Falgold) shareholders for approval, AFCR said it would extend the date for payment of the outstanding consideration of $7.5-million from July 22 to July 30.

This followed the determination by the listings committee of the Zimbabwe Stock Exchange that Falgold required approval from its shareholders to dispose of the mine and its assets.

“AFCR understands this to be a formality in view of the intention by New Dawn Mining to vote in favour of the sale in respect of its 84% shareholding in Falgold,” the company said in a statement.

An extraordinary general meeting would now be held on July 29.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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