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armadale capital plc (ACP) Snapshot

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52 Week High
01/31/14 - 0.17 GBp
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Market Cap
2.0M
Average Volume 10 Days
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-0.0013 GBp
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armadale capital plc (ACP) Details

Armadale Capital Plc is focused on investing in and developing a portfolio of investments in natural resources and related sectors in Africa. The company owns the right to an 80% interest in the Mpokoto Gold Project located in the Katanga Province in the south of the Democratic Republic of the Congo. It also produces coal fines and briquettes; and is involved in the treatment of acid mine drainage in the Witwatersrand basins. The company was formerly known as Watermark Global Plc and changed its name to Armadale Capital Plc in July 2013. Armadale Capital Plc was incorporated in 2005 and is based in London, the United Kingdom.

2 Employees
Last Reported Date: 06/20/14
Founded in 2005

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armadale capital plc (ACP) Key Developments

Armadale Provides Positive Update on Mpokoto Gold Project in Katanga Province

Armadale, provided a positive update on its Mpokoto Gold Project in the Katanga Province of the Democratic Republic of Congo and outline its development plans for 2015 as it targets commercial production in first half 2016. Drilling programme for first quarter 2015 now being finalised with the intention of upgrading the current Total Mineral Indicated and Inferred Resource of 678,000oz gold which itself represents a 78% increase from 380,000oz Au resource when Project was acquired in November 2013. Metallurgical testwork to be conducted in 2015 with the objective of further enhancing the low cost gravity separation process targeted for Mpokoto which has demonstrated excellent recoveries of 84% available from transitional and fresh ore.

Armadale Capital plc Announces Positive Update on Metallurgical Testwork Programme for the Mpokoto Gold Project

Armadale Capital Plc announced a positive update on the metallurgical testwork programme for the Mpokoto Gold Project in the Katanga Province of the Democratic Republic of Congo which has demonstrated increased gold recoveries of 84% from transitional and fresh ore. This follows the completion of metallurgical testwork on the deeper transitional and fresh ores. Further testwork is to be carried out over the next few months with a view to increasing the recovery of gold from the shallower oxide ore at Mpokoto. The testwork programme incorporated semi-batch (low mass yield) gravity recovery as used for free gold, flotation of gravity tails, ultrafine milling of gravity tails prior to gravity amenability testing (GAT). The flotation concentrate was then cyanide leached. The testwork demonstrated that gravity extraction using a Knelson Centrifugal Concentrator, following a grind to 80% passing 75 microns, recovered approximately 43% of the gold in the transition and fresh ore zone. Flotation of the gravity tailings, followed by fine grinding and intense cyanidation of the flotation concentrate, recovered a further 41% of the gold. Overall recovery was therefore 84%. Low cost modular process equipment is available; this will allow the project’s metallurgists to design additions to the initial oxide plant to treat the transition and fresh rock to recover up to 84% of the contained gold. The current Expanded Scoping Study has used a more conservative recovery of 81% pending confirmation of the recovery from the batch Knelson concentrator in pilot scale testwork. The testwork was carried out in the laboratories of Peacocke and Simpson in Harare, Zimbabwe. Over the next few months further testwork is being undertaken on the oxide ore. Further samples have recently been selected and are being dispatched to Peacocke and Simpson for further tests. The aim of these tests will be to confirm the design of the current process flowsheet and will also seek to further improve the current anticipated 90% recovery of gold from the oxide ores. Increasing the rate of recovery should result in a further reduction of operating costs per ounce of gold produced as well adding value to the overall Project.

Armadale Capital Plc - Special Call

To provide information on the Scoping Study for the Mpokoto Gold Project

 

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