Looks like a distressed sale......Ghana govt may have gone for Matthew Wood due to his track record with Aquarius Platinum
Nov. 26 (Bloomberg) -- Mwana Africa Plc, a miner of gold and nickel, mothballed its Trojan and Shangani mines in Zimbabwe because of falling nickel prices, low production and unfavorable exchange rates.
Smelter and refinery operations at the mines will also be on “care and maintenance” once stockpiles have been run down, the London-based company said in a statement distributed by the Regulatory News Service today. The operations are run by Bindura Nickel Corp. which is 53 percent-owned by Mwana, it said.
SBL Price at posting:
2.2¢ Sentiment: None Disclosure: Held
