African Consolidated Resources raising $18m, buying Zimbabwe mine
African Consolidated Resources said it plans to raise about $18 million to bring its Pickstone Peerless gold project into production and buy the Dalny Mine in Zimbabwe.
The company has signed a conditional agreement with Falcon Gold Zimbabwe to buy the mine for a total of $8.5 million. The mine, located 56 kilometers from Pickstone, has a processing plant and other infrastructure. The firm said the deal will mean faster gold production at Pickstone.
The Dalny Mine is also close to the firm’s Gadzema Gold Project.
African Consolidated Resources said it will raise the $18 million, which will also be used to support general corporate purposes, through a mixture of debt and equity.
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3 Comments
Sergio Pastor
Zimbabwe…? are you sure?…If you are looking for good projects I can put you fellows in contact with some good above grass-roots recon in Peru.. The country is OK and the mining law is friendly!!! to foreign investments. I am a geologist,+ 40 years of field evaluations experience contact me at : [email protected]
Chegorerino
Yes, why not?? For your own info ACR has had two potentially big projects on the table, (if you read carefully you will understand that). Thay are looking to expand their business, they are not new players in the country.
jasmine
well