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25/04/2013

African Consolidated Resources is 'horribly undervalued'

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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: AFCR
Latest Price: 2.38p  (-9.51% Descending)
52-week High: 7.25p
52-week Low: 2.13p
Market Cap: 20.13M
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Deal AFCR Tax Free*
*subject to change and depends on individual circumstances.
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African Consolidated Resources
www.acrplc.com
Deal African Consolidated Resources Tax Free* Losses can exceed
your initial deposit *subject to change and depends on individual circumstances.

 

ACR is an AIM-listed multi-commodity resource development company focussed on Zimbabwe and Zambia.  The Company’s current focus is on its significant gold assets, which have a total JORC Compliant gold inventory of 4.3 million ounces.  In addition to near term revenue generation from certain gold assets in Zimbabwe, the Company...

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African Consolidated Resources says Hutton to succeed Cranswick as CEO

January 18 2013, 5:43pm Hutton has 25 years' experience in the mining sector having worked for Anglo American, Placer Dome and Harmony Gold.

African Consolidated Resources (LON:AFCR) has said Craig Hutton is taking over as chief executive from Andrew Cranswick, who is stepping down immediately to pursue other business interests.

Hutton has 25 years' experience in the mining sector having worked for Anglo American (LON:AAL), Placer Dome and Harmony Gold (NYSE:HMY).   

He worked as a consultant for ACR last year and was “instrumental” in the declaration of the major resource upgrade to 3.2mln-ounce Pickstone-Peerless Gold Project in Zimbabwe, the company said.

Chairman Roy Tucker added: "I would like to take this opportunity to thank Andrew for his enormous input into the development of ACR since its inception and listing in 2006. 

“He has been hugely influential in the growth of ACR's portfolio, and the identification of highly valuable assets such as the Pickstone-Peerless Gold Project, the Gadzema Gold Project and the Kasempa Copper Project.  

“On behalf of the board, I would like to wish Andrew well in his future endeavours, and look forward to continuing a close relationship as we move ACR into its next phase of growth.”

Hutton has been granted 6mln options with an exercise price of 5 pence valid until the end of 2015. The current share price is 3.25pence.

Non-executive director Julian Emery has also resigned from the board.


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