Mwana Africa to price £25 million private placement of stock

By Devika Patel

Knoxville, Tenn., June 18 - Mwana Africa plc said it plans a £25 million private placement of ordinary shares.

Proceeds will be used to continue exploration at certain core prospects, to fund initial capital expenditure at Kibolwe and Freda Rebecca, and to give Mwana Africa the flexibility to provide, as necessary, financial support to Bindura Nickel Corp.

Based in Dublin, Ireland, Mwana is a gold exploration company.

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