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Last 0.02 GBp
Change Today 0.00 / 0.00%
Volume 28.5M
ACP On Other Exchanges
As of 11:30 AM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

armadale capital plc (ACP) Snapshot

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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 Capital Plc, Annual General Meeting, Apr 13, 2015

Armadale Capital Plc, Annual General Meeting, Apr 13, 2015., at 10:00 GMT Standard Time. Location: 55 Gower Street. Agenda: To approve the renewal of the director's authority to allot shares.

Armadale Capital Mulls Acquisitions

Armadale Capital Plc (AIM:ACP), which has announced a conditional placing of 966.7 million new ordinary shares, is looking for acquisitions. The company indicated that the Directors continue to maintain an active acquisition strategy and will review investment opportunities that they believe have the potential to be accretive in terms of shareholder value.

Armadale Capital Plc Announces Update on Metallurgical Testwork at 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 reconfirmed the gold recoveries achieved from previous testwork. Armadale has now received the results of a metallurgical testwork programme which was completed earlier this year on further samples from Mpokoto arising from the drilling programme completed last year (a further drilling programme is planned in the next few months). Metallurgical test work was carried out on un-milled samples from the oxide zone at Mpokoto. The samples were subjected to a series of tests aimed to mimic the metallurgical process which has been designed to recover the gold. Mpokoto has a current Total Mineral Resource of 678,000oz gold (Au) from 14.58 million tonnes (Mt) @ 1.45g/t Au at a cut-off grade of 0.5g/t. The Company last year announced the results of an Expanded Scoping Study for Mpokoto which demonstrated a post-tax net present value of $55.3 million based upon a discount rate of 8% and a gold price of $1,250/oz. The Project is subject to four Mining Licences which are valid for an initial term of 30 years from 30 September 2014. The company is currently finalising a definitive feasibility study on the Project which advances the work already undertaken as part of the Expanded Scoping Study. In parallel with this study the work the Group is in active discussions with potential funding partners to secure the $20 million of capital required to commence construction of the Mpokoto Project. The company anticipates that this funding will be secured at a project level. Summary of results of Metallurgical Testwork: Metallurgical testwork on the oxide ores has been conducted on six samples from various positions within the proposed pits and representing different grade types. Six samples selected from oxide ores of two of the projected mine pits were tested in January and February 2015 by Simpson & Peacock in Harare (Zimbabwe); The samples were individually screened to 2mm by means of a trommel screen, and the undersized material was processed by gravity concentrators (Knelson) followed by cyanidation of the gravity tails; Recoveries on the -2 mm fraction averaged 87.6% with individual results being; Additional tests are planned, with the view of increasing the overall recoveries from the oversize material produced by the trommel screen that represents approximately 11% of the feed mass. This testwork clearly demonstrates the effectiveness of the Company’s low cost modular process design and will allow the Project’s metallurgists to design additions, being crushing and milling circuits, to the initial oxide plant to enable the treatment of the oversize oxide material from the trommel screen, as well as the transition and fresh rock. As set out in the Expanded Scoping Study, the plant additions, required only after the oxide plant has been in operation for approximately 3 years, will have a capital cost of approximately $13 million and will extend the life of the mine by over 5 years. The testwork was carried out in the laboratory of Peacocke and Simpson in Harare, Zimbabwe. The consulting metallurgist overseeing the testwork and plant design for the Company is Richard Way of Bara Consulting – a Johannesburg based mining consultancy firm. Further Metallurgical Testwork: 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. These tests will 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.


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