ZCI acquires ACU’s stake in Matsitama Minerals

ZCI acquires ACU’s stake in Matsitama Minerals

South Africa’s ZCI Limited said it has acquired ACU’s shares in Matsitama Minerals.

It would be recalled that African Copper plc had filed for liquidation.

Matsitama is a ZCI Group subsidiary company incorporated in Botswana, owning the rights to the Thakadu-Makala deposits and holding permits in exploration properties at the Matsitama project.

The Matsitama project is contiguous to the southern boundary of the Mowana Mine owned by Leboam. Extensive greenfield exploration have been carried out at the Matsitama project by ACU in the past with encouraging results. ZCI will continue to provide financial assistance to Matsitama for purposes of funding its operating expenditure with the strategic intent to realise value from its investment in Matsitama.

ZCI also announced that its planned delisting will go ahead.

“Shareholders are reminded that as of Monday, 9 July 2018, communication via SENS/Euronext will cease,” the company said.