AJN Resources: Falls again on Barrick's move to block Kibali stake deal

DRC Gold

27/02/2020 18:23

** Shares of junior miner  AJN.CD  fall ~14% to C$0.56 for
the second straight day after Barrick Gold  ABX.TO  moves to
block Kibali mine stake purchase
    ** Barrick, which own's 45% of Congo's biggest gold mine,
says AJN's 10% stake deal is undervalued 
    ** As per MoU signed on Feb. 6, Societe Miniere de Kilo-Moto
(SOKIMO) will receive 60% of stake in AJN in exchange for the
10% stake in Kibali as well as 30%-35% stakes in five other gold
assets 
    ** Barrick and AngloGold Ashanti, which also owns 45% of
Kibali, said they had not been consulted about the deal
 urn:newsml:reuters.com:*:nL5N2AR63O

 (Reporting by Shanti S Nair in Bengaluru)
 ((ShantiS.Nair@thomsonreuters.com))