18th Mar 2013 15:06
Mwana Africa PLC
("Mwana" or the "Company")
Director Dealing
The Company was notified on 15 March 2013 that on that date Oliver Baring's pension fund sold 500,000 ordinary shares at a price of 5.015p per share.
Following this transaction, Oliver Baring, Non Executive Chairman of Mwana, has a total beneficial interest in the Company of 3,080,879 shares representing 0.28% of the Company's issued share capital.
For further information contact:
Mwana Africa PLC | Tel: +44 (0)20 7654 5580 |
Brian Tuck, Company Secretary
| |
Nominated Adviser and Broker | |
Liberum Capital Limited | Tel: +44 (0)20 3100 2000 |
Michael Rawlinson / Tom Fyson / Christopher Kololian
| |
Public & Investor Relations | |
Tavistock Communications | Tel: +44 (0)20 7920 3150 |
Ed Portman / Simon Hudson / Mike Bartlett | |
About Mwana Africa PLC
Mwana Africa PLC is a pan-African, multi-commodity mining and development company. Mwana's principal operations and exploration activities cover gold, nickel, copper and diamonds in Zimbabwe, the DRC and South Africa.
The restart of operations at The Trojan Nickel Mine (owned by Mwana's Zimbabwe subsidiary Bindura Nickel Corporation ("BNC")) follows four years during which all of the BNC assets were on care and maintenance. In September 2012, Bindura Nickel Corporation carried out a restructuring and recapitalisation involving US$23m being invested into BNC which has allowed it to restart the Trojan mine. First sale of concentrate to Glencore International is expected in Q2 2013.
Mwana's Freda Rebecca gold mine in Zimbabwe, having restarted operations in 2009, produced 47,770 ozs of gold in the 12 months to March 2012. Record quarterly gold production of 18,350 ozs was achieved in the third quarter of 2012.
In February 2013, Mwana announced that the gold mineral resource at its Zani Kodo project in Democratic Republic of Congo had increased to 2.6 million ounces.
In August 2012, Mwana announced it had entered into a Cooperation and Development Agreement with Zhejiang Hailiang Company Limited to jointly explore its copper license areas in the Katanga Province of the DRC.
Further information on the Company can be found at www.mwanaafrica.com
END
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