LSELondon South East
IIIInteractive Investor
DTMdiscussthemarket.com
MWA parkhurst962
19 Nov 2014
Re: Seller Posted date: November 19, 2014in: Africa, Investment, Mining, ZimbabweNo CommentsKuda Chideme, HARARE November 19 (The Source) – Pan African resources firm Mwana Africa ‘s board of directors is set to meet on Thursday to consider whether or not to float a $20 million bond to fund its $26 million smelter restart project.In June, the Mwana Africa-owned Bindura Nickel Corporation indicated that it would mobilise internal resources to finance 50 percent of the project costs but a proposal seen by The Source indicates that the company could opt for a Secured Fixed Rate Redeemable bond.Mwana Africa head of investor relations Caroline Mathonsi told The Source that the bond route was being considered with the board yet to come up with a position.“The decision is still up to the board. They have a meeting this week (Thursday) and by Friday we will have a position,” she said.In Zimbabwe, bonds are now seen as a tool for plugging funding gaps arising from an underperforming financial sector.The draft document seen by The Source proposes a five-year bond with an interest rate of 10 percent per annum payable semi-annually in arrears.BNC has applied for the bond to be accorded Prescribed Asset Status by the Minister of Finance and Liquid Asset Status by the Reserve Bank.“The bond will be guaranteed by Mwana Africa PLC to the extent of the outstanding bond amount, including accrued interest at any time during the tenor of the bond,” said BNC in the proposal document.In August, Mwana Africa chief executive Kalaa Mpinga told shareholders at the annual general meeting that preparatory work on the smelter had commenced, with the project team having been recruited, while most of the key components of the engineering designs had also been completed and orders for key technical components placed.Site preparations and demolition of some of the infrastructure had also reached advances stages, he said.The smelter which is expected to start operating during next year would offer significant financial and strategic benefits to BNC by producing and selling higher-value nickel leach alloy, cutting on transport costs and expenses associated with selling concentrates.
MOIL Mike C in Bristol
19 Nov 2014
top up 2 greetings,my First cash investment since the bank crash, yesterday lunchtime i put my savings £3k = 30,000 @ 10.2 (trade not showing - dontya love aim's transparency !)[link] the Moil team video chatting typical pr guff, e.g. “in a very, very short space of time”, to the blonde from Proactive.we will be the first ever Malagasy 'oil producer' selling to market; hopefully, (hence my further investment) we'll be seen as better value with a govt. approved development plan & first sales, so that needing to 'raise around US$50m in early 2015', after a re-rating, will not drastically affect us pi's.happy days plate !
SPH dwiggy
19 Nov 2014
Re: Trades Henderson the culprit...
NEW JV PARTNER, spekky 19 Nov'14 - 15
6 - 2456 of 2456 0 0
Something very strange going on,I have just come across a new player in this field going by the name VELATEX.
Even stranger is the website which is using images of previous Hightex contracts including Maracana,Busan Stadium,and the Leicester Space Centre.
How can they get away with that?
MWA DEREK 1968
19 Nov 2014
Re: Seller Really have you got a link for that news. Being a private company they do not give much away.
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