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02:02 29/06/2015

we all know the chinese are ruthless and now they somehow stole mwana the whole company off mr kalaa mpinga

17:22 21/05/2015

Mwana future turns on Chinese vote: Mpinga David McKay | Thu, 21 May 2015 117 Print this page Send this article to a friend Share [miningmx.com] – MWANA Africa CEO, Kalaa Mpinga, acknowledged that his future at the company may turn on how Chinese shareholders controlling 29% of the firm vote at an extraordinary general meeting (EGM) scheduled for June 9. The EGM has been called by a group of shareholders holding 5.1% of the Zimbabwe gold and nickel firm calling themselves the Concerned Shareholder Group (CSG), led by Mark Wellesley-Wood, the former chairman of Mwana Africa. The CSG maintain there have been significant breaches of corporate governance at Mwana Africa and question why a dispute between the Mwana board and shareholders Yat Hoi Ning and China International Mining Group Corporation has been taken to court. Wellesley-Wood told Miningmx on May 21 that Mwana Africa represented unfinished business following his abrupt resignation from the board in February 2014 ostensibly related to a difference over strategy. Said Wellesley-Wood: "This is not about revenge. This is about focusing on the company’s operations and shareholder value.” Mpinga said in an interview on May 20 that he was unaware how the Chinese would vote on the matter. "The Chinese have decided that owing to legal action they will not take a view or disclose what their approach is going to be," he said. The dispute is about the composition of the board after Ling attempted to first take the chairmanship and then - even though Mwana's board eventually agreed to this step - he recommended all the executive board members be removed. Mpinga said his board and the Chinese were "close to reaching a settlement on litigation with the Chinese". However, the calling of the EGM had confused matters: "We actually were discussing a new structure," he said. Commenting on the resignation of Wellesley-Wood last year, Mpinga disclosed that the board rejected the former DRD CEO's personal demands. In documents handed by the Chinese shareholders to Mpinga, the Mwana board realised that Wellesley-Wood was hoping for the company to pay relocation fees to Johannesburg as well as share options totalling £1m that could not be diluted. "There was a unanimous decision to vote him off," said Mpinga. Said Mpinga of the dispute with the CSG, the Chinese and Wellesley-Wood: "I find this puts me in a strange situation. The conversation always starts with: 'this is not about you, it’s about the board'. "But I’m like, gentlemen, can you decide how you want this to go and then we can focus on running the company. For me it’s unnecessary; it’s a big waste of money

00:28 01/03/2015

i thought the average life of a zimbabweean is around 40 yrs but magubee seems to live forever, if he dies the sp will be 10p or not if his wife takes over www.dailymail.co.uk/news/article-2973802/Robert-Mugabe-celebrates-91st-birthday-hate-filled-speech-threatens-land-white-farmers.html i still need to sell 1 million shares at 2.4p

16:26 18/02/2015

lots of selling today and the sp went up and this probably means the next sp drop will be even lower, i will buy more in lower prices

02:44 18/02/2015

gold price is dropping and the sp here will drop to 1.5p or even lower soon if gold price keep dropping as mwa will not make a profit at this price, and nickel price is not helping either

11:55 16/02/2015

lots of buying earlier and then lots of selling later today and thats pump n dump for quick profit

11:53 16/02/2015

gold price is going up if its go over $1300 then mwa will start making a profit as the all in sustaining cost is over $1300, the nickel price cannot be helped and we need the smelter now, expect sp to go back down to 1.15p soon

23:45 15/02/2015

i am still in profit, maybe i should sell all my shares while the last quarter update/rns is not out yet because i got a feeling the sp will tank to 1.45p and what does 1p sell mean on friday?

23:41 15/02/2015

hopefully the good news is upgrade/adjustment of equipment is completed since september and the bonds, but is that enough to lift the sp over 2p, plus that the nickle smelter will not be ready until later of the year

23:31 15/02/2015

from that presentation that they taken down, we know that the head grades for both gold and nickle is down alot, the amount of nickle mined is down but up for gold, the cash costs all in for both gold and nickle is up alot and thats for last quarter up to end of 2014

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