Mwana to sell 15% stake in Freda Rebecca gold mine

Aim-listed Mwana Africa said on Friday it would sell a 15% stake in its Freda Rebecca gold mine, in Zimbabwe, to a longstanding board member. Kenneth Musanhi, a Zimbabwean businessperson, would pay $405 000 for the stake.

Mwana reports 19% production increase

Gold production from Aim-listed Mwana Africa’s Freda Rebecca gold mine increased from 11 573 oz in the December quarter, to 14 280 oz in the three months to the end of March. The company attributed the 19% jump to increased mill throughput, as...

Mwana seeks $35m to restart Zim mine, fund DRC activities

Aim-listed Mwana Africa is looking to raise $35-million to restart its Zimbabwe-based nickel project and the funding of its activities in the Democratic of Congo (DRC), the company said on Monday. Mwana, which held a 52.9% interest in Bindura...

Company Announcement: Views from the Trading Floor

Oil & Gas Tower Resources (LON:TRP) slipped 10% to 3.55p after the company announced has raised GBP5.41 million before expenses through a conditional placing of 180.33 million new ordinary shares at 3 pence per share. As previously announced, the...

Mwana production falls 15%

Gold production from Aim-listed Mwana Africa’s Freda Rebecca gold mine dropped from 13 686 oz in the September quarter, to 11 573 oz in the three months to the end of December. The resources company attributed the lower production rates, which...

Reopened gold mine exceeding expectations

Mwana Africa’s Freda Rebecca Gold Mine (FRGM) has just completed Phase 2 of the construction programme on schedule and on budget.

Junior reports better than expected results at Zim and DRC projects

UK mining junior with a strong African focus reports the company has achieved better than expected results at its Freda Rebecca gold project, in Zimbabwe, and its Zani Kodo gold project, in the Democratic Republic of Congo.

Mwana secures IDC loan for Zimbabwe gold mine

Aim-listed Mwana Africa has drawn down the final tranche of the $10-million loan from South Africa’s Industrial Development Corporation (IDC) to boost production at its Freda Rebecca gold mine in Zimbabwe. The draw down of the $6-million second...

173 mining companies submit indigenisation proposals to Zim govt

Dozens of mining firms have submitted indeginisation proposals to government in line with a directive compelling them to do so.

Mwana Africa raises funds for DRC exploration

Aim-listed Mwana Africa will raise £9,27-million from existing and new institutional investors to fund its drilling programme and to provide finance to keep its BNC mines in Zimbabwe on care and maintenance. "Today's fundraising will support our...

Mwana increases gold output from Zimbabwe mine

Aim-listed resources company Mwana Africa increased its gold production by 27% in the six months ended September 30, as the ramp-up at its Freda Rebecca mine, in Zimbabwe, continues. The company said on Thursday that it produced 10 915 oz of gold...

Mwana raises £5,1m for Zimbabwe gold mine

Aim-listed Mwana Africa has raised £5,1-million, or $8-million, in a share placement to start the second-phase refurbishment programme at its Freda Rebecca gold mine, in Zimbabwe. Production at the mine was restarted in October last year,...