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Unloved AIM minnow Armadale Capital (ACP) says it is in ‘advanced discussions with potential partners’ to bring its 80%-owned low-grade Mpokoto gold project in the Democratic Republic of Congo into production ‘in the first half of 2016’. The company, whose shares have tumbled 70% from their 12-month high to a mere 0.03p, says it cut its losses by nearly a third last year to £1.1 million and awaits a definitive feasibility study, now ‘near completion’, into Mpokoto, where a scoping study last autumn suggested an increased resource estimate of 678,000 oz., with 1.45 grammes of gold per tonne of ore, along with opportunities to target exploration for another potential 120,000 to 150,000 oz.
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