JOHANNESBURG (miningweekly.com) – Aim-listed African Consolidated Resources (AFCR) on Friday announced that New Dawn Mining subsidiary Falcon Gold Zimbabwe’s (Falgold’s) shareholders have approved the sale of the Dalny mine, in Zimbabwe, and its associated infrastructure to AFCR.
AFCR had also agreed with Falgold to extend the date of payment for the outstanding purchase consideration of $7.5-million to August 22.
The company said it remained in active discussions with Falgold concerning a possible further extension to the payment date in light of the ongoing discussions concerning funding.
AFCR remained in active discussions regarding the funding of the $18-million needed to acquire the Dalny mine and to bring the company's Pickstone-Peerless gold project, also in Zimbabwe, to fast-tracked production.