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new in Zim-Club:

 

African Consolidated Resources (AFCR)

 

quote]

 

Seen these getting touted, but seemingly a bit of horse trading ;) going on with the Zim government (not involved are you Conrad :lol: )

 

Didn't like the have they/have they not debate as to entitlement myself, in comparison to others.

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TORONTO, Oct. 7 /CNW/ - New Dawn Mining Corp. (TSX: ND) reports that in light of substantial opportunities now present in Zimbabwe, New Dawn intends to focus exclusively on expanding output at its Turk and Angelus Mine in Zimbabwe, furthering exploration on its options claims in Zimbabwe, and pursuing acquisition opportunities in Zimbabwe that are value accretive. In pursuing its Zimbabwe focused growth strategy, management has determined that its Blue Dot Mine Development Project in South Africa is no longer a part of the Company's corporate focus. As such, New Dawn has shut down the Blue Dot Mine Development project, and has decided to place Blue Dot into provisional liquidation, a legal process under South African law that provides for an orderly sale, liquidation or winding up of the business. Provisional liquidation will allow New Dawn to most effectively manage the disposal of this asset.

 

The Blue Dot Project has not generated any revenue from gold sales to New Dawn. As such, New Dawn confirms that gold sales and production figures as generated from its Turk Mine in Zimbabwe will not be affected in any way as a result of the Blue Dot closure.

 

"We have a producing mine in Zimbabwe in which output has increased for five consecutive months and we are well on our way to increasing output and continuing to examine other value accretive opportunities in a country where our expertise lies and significant opportunity is present in an ever improving political and economic environment," commented Ian Saunders, President and CEO. "The operating environment in South Africa deteriorated to the point where it was no longer sensible for us to continue to pursue developing an asset that ultimately did not have the size and scope to provide our shareholders with the economic reward relative to the related operating country risk."

 

http://www.newswire.ca/en/releases/archive...9/07/c4661.html

 

Talk about roles reversed!!

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Yes did notice and no doubting the potential upside, but that Marange field looks a hot potato and I think it's going to take a lot for everyone to go away happy, then again a few "you got mail" to the right people :rolleyes:

 

Doesn't look simple to me, lots of chatter in Zim papers and online editions suggest far from cut and dried!

 

Can't believe it, but actually i've found something i'm risk averse to :D

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THIS HAS TO BE THE CAVEAT EMPTOR FOR AFCR!

The Zimbabwean government has said it will appeal against a Harare High Court ruling two weeks ago that confirmed ACR’s right of title to claims on the notorious Chiadzwa diamond field.

 

http://www.zimonline.co.za/Article.aspx?ArticleId=5201

 

http://allafrica.com/stories/200910071161.html

 

Government ignoring the law (no change there), 2 new companies potentially to do battle with on ownership, MDC M.P with little knowledge of the process, illegal miners and local population issues!

 

Companies campaigning for policy change is one matter, but taking on stubborn governments!

 

Think i'll watch this one.

 

 

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Yes did notice and no doubting the potential upside, but that Marange field looks a hot potato and I think it's going to take a lot for everyone to go away happy, then again a few "you got mail" to the right people :rolleyes:

 

Doesn't look simple to me, lots of chatter in Zim papers and online editions suggest far from cut and dried!

 

Can't believe it, but actually i've found something i'm risk averse to :D

 

Remember the Moto Goldmines battle in DRC.

Kasongos foul-play-reports has manipulated the shareprice near ground-zero-level at the end of 2008, and I bet my ass, this is the same game in Zim.

The Zim-government is playing with the fear of the shareholders ...and operates in the background as a buyer to make the profit later.

 

I would buy a small position, if the government succeeds in putting down the share price and the market capitalisation is equal like the cash of the company.

I bought MGL for € 0.47 around the end of 2008 ...exactly on companies cash-level.

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  • 2 weeks later...

Mining in Africa seem to have taken a shine to ND., the writer belives "it is highly likely that New Dawn Mining will be making more acquisitions which could include advanced stage exploration properties as well as other gold mining companies with production and resources."

 

http://www.newdawnmining.com/i/pdf/2009-Oc...ingInAfrica.pdf

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The political situation in Zimbabwe remains very iffy, but the revival of the gold mining sector in that country demonstrates a few things. Mining, if treated right, can survive in harsh places.

 

The CEO and president of Caledonia Mining Corporation, which owns the Blanket mine in Zimbabwe, says; “We’re a mining company and we are not political. We adopt the pragmatic point of view that we don’t mind who the government is as long as it is stable, and gives us a set of legislation that enables us to look after our people and to operate for the benefit of our shareholders.”

 

That sums it up. From a government perspective, assuming the geology, infrastructure and market permits, it is not too difficult to ensure the survival, let alone the success, of a country’s mining sector, with all the well known concomitant benefits to the population and the economy........

 

.....gold mining in Zimbabwe illustrates, mining can also survive where other businesses give up the ghost. Part of mining’s bad reputation is its association with dubious regimes, and that is because it is often the only industry that survives in such places......

 

A mine in a particular location is neither an endorsement nor a rejection of that government’s social policies, never has been and never will be.

 

To some it might make mining seem to be a cynical and hard nosed business, but actually it is a refreshingly honest business. In fact it is the opposite of cynical and manipulative. It is not about brands and images, and linking of products to human aspirations and emotions – well other than perhaps the downstream diamond sector and to a lesser degree some precious metals – but it is about simple supply and demand and mineral economics.

 

Reputation as an honest broker (and that applies to both the host countries and the mining companies) is important of course, but mining companies don’t and shouldn’t have to manipulate emotions.

 

http://beta.miningreview.com/node/15598

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Mining in Africa seem to have taken a shine to ND., the writer belives "it is highly likely that New Dawn Mining will be making more acquisitions which could include advanced stage exploration properties as well as other gold mining companies with production and resources."

 

http://www.newdawnmining.com/i/pdf/2009-Oc...ingInAfrica.pdf

 

ND`s success is awesome

.. not because the size of their own production, but for the mining-scene with rare positive signs from Zim

 

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ND`s success is awesome

.. not because the size of their own production, but for the mining-scene with rare positive signs from Zim

 

Agreed. SIX Consecutive growth months and looks like they are starting to motor. Just hope no pwer problems affect them.

 

Also noticed Lonzim relocation plans back to Southern Africa. Another vote of confidence of sorts.

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Wednesday, 28 October 2009 17:13

HARARE - A coal mining company has been ordered to stop prospecting in Hwange, in a case showing government policy flip-flops likely to scare away investors.

 

Zambesi Gas, the coal mining company, was directed to cease operations of prospecting for coal at Entuba coalfields a fortnight ago by the government, despite having been granted a special permit to do so in 2007.

 

"Zambesi Gas only had a permit to prospect, but not a licence to start operations. The fact that the company submitted an application did not give it permission or a right to start operations. Secondly, there are fears that Zambesi Gas is carrying out operations within the Hwange National Park territory," Mpofu told ***The Zimbabwean.

 

An official at Zambesi Gas, however, denied charges by Mpofu, adding that the company had got word that the Mines Ministry wanted to grab its piece of land and allocate it to Chinese Company. :unsure:

 

"The Mine is outside the borders, the Minister knows it. What we hear is that a Chinese company has been promised our site," the company official said, speaking on condition of anonymity. He added that they "are challenging the Ministry's directive to stop operations”.

 

No comment could be obtained from the site geologist, Constance Reid.

 

 

http://www.thezimbabwean.co.uk/20091028260...ng-company.html

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New Dawn's Turk Mine Gold Production Increases 20% Month Over Month

 

TORONTO, Nov. 11, 2009 (Canada NewsWire via COMTEX News Network) --

 

 

<<

Seven Consecutive Months of Gold Production Increases

 

Highlights:

 

- Gold production for October 2009 was 1,235 ounces or 38.42 kg's, as

compared to September 2009 gold production of 1,029 ounces or 32

kg's, an increase of 20%

- Gold sales for October 2009 were US$1,334,635 at an average gold

price of US$1,039 per ounce

- At October 2009 month-end, an additional 558 ounces or 17.35 kg's of

gold were awaiting export for sale in South Africa, which will be

included in November 2009 sales

- 100% of gold sales were received in US Dollars

- October 2009 marks the 7th consecutive month of increased gold

production

- October 2009 was the highest level of gold production during calendar

2009 and the largest month over month percentage increase since

production resumed in March 2009

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After three years of silence, the din of monster dump trucks and conveyor belts fills the air at the Freda Rebecca mine 50 miles to the north west of Harare, Zimbabwe's capital.

 

Struggling to make himself heard as 30 tons of gold-bearing rock is unloaded nearby, Kalaa Mpinga, chief executive of Mwana Africa, the London-listed mining company, admits it has been tough convincing investors about the chances of reviving mineral production in one of Africa's most politically tormented countries.

 

http://www.ft.com/cms/s/0/68c5e8b2-cff4-11...144feabdc0.html

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Rapaport TradeWire®

Friday, November 13, 2009

 

News: TRADE ALERT - The Rapaport Group and the RapNet Diamond Trading Network is implementing an immediate trading ban on all diamonds from Zimbabwe due to severe human rights violations in Marange. RapNet members should immediately remove all RapNet listings of diamonds originating from Zimbabwe. Firms and individuals that continue to trade in diamonds from Zimbabwe will be denied access to all Rapaport services. News: Rough bubble expanding as dealer speculation pushes premium price levels to about 10% over value of resultant polished. Mining company rough prices up about 5% with DTC sight estimated at $325 mil. Polished markets stable but cautious with very weak demand ahead of Christmas season. Gold jumps to $1,124/oz. Israel Oct. polished exports +46% to $478.3 mil., rough & polished imports +7% to $504.3 mil. Bidz.com 3Q sales -55% to $25 mil., profits -99% to $39k.
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Blimey was AEP being kind of positive :lol: Is interesting however re MWA - for a gamble!

 

Might explain the surge today as didn't think the volume was that huge! Personally considered it a gamble at 4-6p levels, now I feel somewhat chilled about it all :)

 

EDIT: Should add sold near half at 13.25, so not being smug as timing could have been better eh (16p mid just a few days later). Helps to feel relaxed with the remainder though.

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Saturday, 28 November 2009 12:24

HARARE – The Zimbabwean government is willing to engage British mining firm African Consolidated Resources (ACR) in negotiations to resolve an ownership dispute over the controversial Marange diamond field, a top government official said Thursday.

 

"This dispute has to be solved and a solution has to be found in view of forging a partnership," Deputy Mines Minister Murisi Zwizwai said.

He added: "The solution has to be for the benefit of everyone. The companies that are there (in partnership with ZMDC) are just operating from a certain portion of Chiadzwa and not the whole area. Chiadzwa is a big place which cannot be operated by a small company :unsure: ."

 

 

http://www.thezimbabwean.co.uk/20091128270...mond-field.html

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Runway for Zimbabwe diamond field

 

http://nehandaradio.com/2009/11/24/runway-...-diamond-field/

 

A private investor is looking to construct a runway at the controversial Marange diamond field...... :huh:

 

 

..................................

 

 

For brave investors, Zimbabwe could be the ultimate turnaround story

 

http://www.telegraph.co.uk/finance/comment...ound-story.html

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AIM-listed investment group LonZim has raised just over £1 million to beef up working capital for its Zimbabwean operations as it prepares to capitalise on the country’s economic growth prospects.

 

The proceeds are expected to provide working capital to LonZim's Zimbabwean companies “to continue to run their businesses as economic growth returns to the important market sectors where LonZim operates”.

 

http://www.fingaz.co.zw/index.php?option=c...s&Itemid=47

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Not sure whether should post MWA's latest news here or on the DRC thread given Zani-Kodo results but anyway......

 

Dec 10 (Reuters) - Gold miner Mwana Africa (MWA.L: Quote, Profile, Research) posted a narrower pretax loss and said it completed a drilling program at its Zani-Kodo gold project in the Democratic Republic of Congo and expected to report updated resources in the New Year.

 

http://in.reuters.com/article/rbssIndustry...lBrandChannel=0

 

F.D since bought a few more shares, few options granted today at 14p exercise price and shares have now tracked back to 13p (phew, doesn't make my sale look so dumb now!)

 

Still waiting more news from F.Rebecca progress.

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