Armadale Capital Plc / Index: AIM / Epic: ACP / Sector: Investment Company
26 March 2015
Armadale Capital Plc (‘Armadale’ or ‘the Company’)
Notice of General Meeting
Armadale, the AIM quoted investment company focused on natural resource projects in Africa, announces that it has today posted a notice of General Meeting to its shareholders. At the General Meeting, which will be held at 55 Gower Street, London WC1E 6HQ at 10.00a.m. on Monday 13 April 2015, resolutions will be proposed to approve the renewal of the directors’ authority to allot shares.
|Charles Zorab, Company Secretary||+44 20 7233 1462|
Nomad and broker: finnCap Limited
|Stuart Andrews||+44 207 220 0500|
Joint broker: VSA Capital Limited
|Bhavesh Patel/Richard Buckle||+44 203 005 5000|
Press relations: St Brides Partners Ltd.
|Susie Geliher||+44 207 236 1177|
Armadale Capital Plc is focussed on investing in and developing a portfolio of investments, targeting the natural resources sector in Africa. The Company, led by a team with operational experience and a strong track record in Africa, has a strategy of identifying high growth businesses where it can take an active role in their advancement.
Armadale is focused on the development of the Mpokoto Gold project in the Democratic Republic of the Congo, in which it owns an 80% interest. Mpokoto has a current Total Mineral Resource of 678,000 oz gold (‘Au’) from 14.58 million tonnes (‘Mt’) @ 1.45g/t Au at a cut-off grade of 0.5g/t. The Company has recently announced the results of an Expanded Scoping Study for Mpokoto which demonstrated a post-tax net present value of US$55.3m based upon a discount rate of 8% and a gold price of US$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.
Armadale also currently holds approximately a 30% interest in Mine Restoration Investments Ltd, a South African listed company, which aims to develop profitable operations in South Africa through the briquetting and sale of coal fines in KwaZulu Natal, as well as a number of other quoted investments.
More information can be found on the website www.armadalecapitalplc.com.