By Robert Tyerman | Tuesday 27 May 2014
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Within a month or so, AIM-quoted Armadale Capital (ACP) hopes to have completed its transformation from a company with interests in cleaning up mines in South Africa to one backing fully fledged gold mining operations in the Democratic Republic of Congo and elsewhere. Whether this brings about a rehabilitation of Armadale’s shares, which have lost 99 per cent of their value since floating as Watermark Global at 10p eight years ago, with a treatment for acidic water in the mines of South Africa’s Witwatersrand, depends on two projects which the company’s present management is pushing ahead.
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