JOHANNESBURG (miningweekly.com) – Zambia Copper Investments subsidiary African Copper on Wednesday said that it would cease to trade ordinary shares on the LSE from June 5, with the Aim-cancellation becoming effective June 8.
The embattled company earlier this month reported that it had agreed to an unsecured loan facility for $1.5-million with its majority shareholder, the Copperbelt Development Foundation, but warned that this funding inflow might not be enough to keep the company’s doors open beyond June.
The copper producer’s early termination of the Thakadu mine, in Botswana, coupled with unforeseen shortfalls in production had resulted in a current working capital deficit.
It was now in the process of arranging a matched bargain trading facility.