londonbased miner to purchase zimbabwe mine
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

London-based miner to purchase Zimbabwe mine

Arab Today, arab today

Arab Today, arab today London-based miner to purchase Zimbabwe mine

London-based miner to purchase Zimbabwe mine
Harare - XINHUA

Medium-scale gold producer Falcon Gold Zimbabwe Limited (Falgold) announced Monday that it was negotiating with London-based African Consolidated Resources Plc (AFCR) for the disposal of its closed Dalny Mine at a cost of 8 million U.S. dollars.
Falgold, which is 84.7 percent owned by the Toronto Stock Exchange-listed New Dawn Mining Corporation (New Dawn), said in a cautionary statement that the bulk of the purchasing amount, 5.5 million, will go towards settlement of Dalny's liabilities.
The estimated net cash from the transaction is approximately 2. 5 million U.S. dollars," Falgold said.
Among other proposed terms of the transaction, AFCR would fully settle all known trade creditors of Dalny mine, settle the mine's labor costs and any capital gains tax or other tax liabilities due to the Zimbabwe Revenue Authority.
Falgold closed its 100 percent owned Dalny mine in August last year citing a serious liquidity problem spawned by the delay in approval of its indigenization plan by government, falling gold prices and operational challenges such as power disconnection due to failure to pay.
As part of the shut-down, an approximately 900 Dalny workers were placed on unpaid leave while the company was moved to care and maintenance.
At the time of shut-down, the company's debt was estimated at 3. 1 million U.S. dollars.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

londonbased miner to purchase zimbabwe mine londonbased miner to purchase zimbabwe mine

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

londonbased miner to purchase zimbabwe mine londonbased miner to purchase zimbabwe mine

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday