AFCR Stream Log

Hi Noddy

Great fundamentals, but what a rabid dog share. Nuclear furnace, icy comet, roaring volcano, Ed Miliband.

Nice assets, great price, but article states 'Instead, sources said Meikles Centar was looking at already developed mines in the country such as Caledonia (gold), New Dawn (gold), African Consolidated Resources (ACR) (gold, diamonds)and Mwana Africa plc (gold, nickel and diamonds). '. Not specifically AFCR then. So careful.

African Consolidated now reckons the project has a net present value of US$76 million and would deliver an internal rate of return of 73 per cent. The anticipated payback period drops from 50 to 15 months. Once commissioned, Pickstone-Peerless is expected to operate with an all-in cash cost of US$855 per ounce over the mine life, while the Dalny facilities may continue to operate beyond that date as the African Consolidated team secure additional sources of ore to process there. Before the acquisition of Dalny can occur, though, African Consolidated must raise a minimum of US$12 million to fund the transaction. Accordingly, African Consolidated remains in active discussions concerning a financing of approximately US$18 million, the funding necessary to acquire the Dalny mine and to bring Pickstone Peerless into production. The plan is to raise the funds by way of a mix of debt and equity. African Consolidated has already agreed in principle to a term sheet with a major African bank. “The acquisition will further enhance the already attractive economics of Pickstone, and strengthen our existing platform so that African Consolidated Resources can play a meaningful role in the resurgence of the Zimbabwean gold sector”, said chief executive Roy Pitchford. Harare – Zimbabwe will cut the royalty imposed on gold producers to 5 percent from 7 percent to boost production because companies are struggling with low prices, the government said. “International prices of precious metals, in particular, gold, remain subdued, thereby threatening the viability of most of the mining houses,” Finance Minister Patrick Chinamasa said in a statement seen by Reuters on Monday . “I, therefore, propose to review downwards, royalty on gold produced by primary producers from 7 percent to 5 percent. These measures took effect from 1 October 2014.” African Consolidated Resources To Fast Track Pickstone Peerless And To Acquire The Nearby Dalny Mine The addition of Dalny to the company’s portfolio will allow for the fast-tracking of development at Pickstone Peerless as established processing facilities come with the project. Pickstone Peerless covers 584 hectares of ground 100 kilometres southwest of Harare and holds a JORC compliant resource of 3.56 million ounces of gold.

Hold for gold !

pro - seems to be dropping like a stone! any ideas?

drop drop buy no-one can buy til the bounce

sneaky

wait for 1p

bit more sell sell sell please so i can get some more under 1p