Aug 31st 2012 - Edison Investment Research today published a report on Mwana Africa (MWA.L, LSE:MWA, LON:MWA) entitled "Value Recognition". In summary, the report says:
On 21 August Mwana announced it had entered an agreement with Zhejiang Hailiang, whereby Hailiang will invest a minimum of US$25m in 27 of the 28 licences that comprise Mwana’s SEMHKAT copper exploration area in the Congo (excluding the five licences of the Ambase joint venture). In return for its investment, Hailiang will earn a 62% interest in the assets, leaving Mwana with a non-dilutable 38% interest. Hailiang also has an option to invest an additional US$15m in the one remaining – but most advanced – licence, Kibolwe, leaving Mwana with a non-dilutable 40% interest.
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