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China Africa Resources

17:15 on 07/04/2017

Current Price 3.17p | Bid 2.75p | Ask 3.25p | Change 0.00%

Company Overview

Chian Africa Resources's objective will be to carry out a full feasibility study on the Berg Aukas Project, which is expected to commence shortly after Admission and be completed by the end of 2012. The total cost of the feasibility study is expected to be US$3m over the full period and will be managed by Weatherly pursuant to the terms of the Management services agreement. Following admission of its Shares to AIM Car will be owned ECE 65% Weatherly 25% Other shareholders 10%. (Click here for Further details on ECE and Weatherly and for details of the Relationship agreement) Weatherly has agreed to provide management services to CAR for an interim period. This covers all the necessary office services and management for the company. The services of Rod Webster as Chief Executive Officer are provided under the terms of this agreement. (Click here for further details of the Management services agreement) Whilst the immediate focus of the Company will be the development of the Berg Aukas mine, the Company's strategy is to build a profitable and widely based resource business that may include the acquisition of additional assets from Weatherly, ECE or third parties. ECE is an active explorer in Namibia and other parts of the world and the expectation is that new discoveries will be vended into the Company at an appropriate time. ECE has recently obtained 18 exploration rights in Namibia, including gold, copper, iron ore, and zinc that cover an area of approximately 7,146 square kilometres. ECE also have considerable assets in China whose development may benefit from being transferred into the Company particularly where additional capital is required to develop their full production potential.

Stock Details

EPIC CAF
ISIN GB00B3ZW6Z85
Shares in Issue 23,076,924
Market cap £ 0.87m
Sector Mining
Indices

Financial Highlights Year Ended 31/12/2015

Turnover $0.00 million
Operating Profit $-0.55 million
Dividend Yield 0.00
Dividend Per Share 0.00
Dividend Cover 0.00
P/E Ratio -1.54
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Key Personnel

Roderick Webster CEO

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Price Summary

Mid Price ? 3.00p
Bid Price ? 2.75p
Ask Price ? 3.25p
Volume ? 0
Change Today 0.00p
% Change Today 0.00%
Open 2.75p
Previous Close 3.00p
Intraday High 0.00p
Intraday Low 0.00p
52 Week High 6.25p
52 Week Low 2.25p

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Broker Consensus

The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. It is subject to change without notice and may not necessarily be the view held by Redmayne-Bentley.

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