The Board of Mwana Africa PLC ("Mwana", the "Group" or the "Company"), the pan-African resource Company, announces its audited financial results for the year to 31 March 2009.
Key Features
Commenting on the results Kalaa Mpinga, Chief Executive Officer, said:
"This has been a challenging year for Mwana Africa as we have fought to protect our strategic investments and the foundations of our pan-African, multi-commodity strategy. With the improvement in operating conditions in Zimbabwe, we will shortly resume operations at Freda Rebecca and are currently looking at options to resume operations at BNC including the potential to restart development of our promising Hunters Road project."
Kalaa Mpinga, CEO
Oliver Baring, Executive Chairman
Tel: 020 7654 5580
Tom Randell / Anca Spiridon
Tel: 020 7653 6620
Mike Jones / Ryan Gaffney
Tel: 020 7050 6500
References to dollars or "$" refer to US dollars unless otherwise stated.
This press release includes 'forward-looking statements'. Words such as 'anticipates', 'expects', 'intends', 'plans', 'forecasts', 'projects', 'budgets', 'believes', 'seeks', 'estimates', 'could', 'might', 'should' and similar expressions identify forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding Mwana Africa's business strategy and plans and objectives of management for future operations and acquisition opportunities, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors which could cause the actual results, performance or achievements of Mwana Africa or the markets and economies in which Mwana Africa operates to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements, including, without limitation, political, regulatory and economic factors. Factors that would cause actual results or events to differ from current expectations include, among other things, political and regulatory risks and the other risks involved in the mineral exploration industry. Mwana Africa believes that the assumptions inherent in the forward-looking statements are reasonable; however, forward looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Mwana Africa does not assume any responsibility to update any of such forward-looking statements, save as required by relevant law or regulatory authority. This report contains information regarding the results of various exploration activities. Where a mineral resource has not been defined, it should be noted that the potential quantity and grade is conceptual in nature, there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. Charl du Plessis, Executive Vice President Exploration of Mwana Africa, who holds a PhD and is a Member of the AusIMM, is a 'Qualified Person' as defined in the AIM Rules and under NI 43-101, and the exploration and resource development information contained in this press release is based upon information prepared under the supervision of Dr Du Plessis. Dr Natasha Gibson Pr.Sci.Nat., Vice President, Exploration, is the qualified person as defined in the AIM Rules and, under NI 43-101, responsible for the technical information in this release relating to Mwana Africa's diamond production and exploration activities. The information relating to resources at BNC is based on information prepared under the supervision of Claudius Makuni, Manager Geology for BNC and a qualified person under NI 43-101.
| Share code: | MWA |
| Market: | AIM |
| Listing date: | 26 Oct 2005 |
| Index: | FTSE AIM All-Share Index |
| Sector: | Basic Resources; |
| Sub‑sector: | Gold Mining |
| Country of register: | Great Britain |
| Segment: | AMSM |