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Mwana poised for growth

TIP UPDATE: Drill results from Mwana Africa's Trojan nickel mine in Zimbabwe showcase the company's high-quality pipeline of assets
October 10, 2012

Mwana Africa's (MWA) operations in Zimbabwe and the Democratic Republic of Congo may not be every investor's cup of tea but, for those with a healthy appetite for risk, the company looks poised to deliver untapped value over the next year.

IC TIP: Buy at 4.9p

Having signed up a deep-pocketed Chinese partner in August for its copper licences in the Congo and refinanced a subsidiary in September to restart production at the Trojan nickel mine in Zimbabwe, the ball is now rolling. New assays from drilling at Trojan show high-grade nickel mineralisation extends to depth within the main orebody, further strengthening the mine's prospects. Meanwhile, Mwana's Freda Rebecca gold mine continues to churn out cash, allowing the company to advance exploration at the promising Zani-Kodo gold project.