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Armadale director sees value in the Mpkoto gold project

Justin Lewis, a director at Armadale Capital PLC (LON:ACP), says the company has been very busy over the last couple of years at the Mpkoto gold project in Democratic Republic of Congo, having acquired a mining licence and completed a feasibility study.

He says the company is now looking to get the funding in place to enable it to being building the project, with Armadale in the final stages of negotiations on a US$20mln funding package with mining contractor African Mining Services.

In addition to this, the company is also undertaking some exploration activities to “hopefully further add value to the whole project”.

Speaking to Proactive Investors at the UK Investor Show, Lewis says “I genuinely believe there is underlying value in the project and hopeful it’ll be reflected in the share price.”

Quick facts: Armadale Capital PLC

Price: 3.21 GBX

AIM:ACP
Market: AIM
Market Cap: £14.75 m
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