Categories: Stories

Samukange offered more shares in African Consolidated Resources

Harare lawyer Jonathan Samukange has been offered 500 000 more shares in African Consolidated Resources, the London-listed mining company which says it is the legal owner of the diamonds in Marange, the company said yesterday.

The company says the shares valued at 50 000 pounds sterling have been issued “ to satisfy fees payable to the firm in which Jonathan Samukange is a partner in respect of legal fees which arise as a result of the Company’s dispute in relation to its diamond claims at Marange”.

Samukange now has more than one million shares in the company after being offered 600 000 shares in December for the same services.

ACR was listed in London in 2006 but has not earned a single cent in revenue though it is awash with cash.

(29 VIEWS)

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

Reserve Bank of Zimbabwe expects more foreign currency sellers to join the interbank market

The gazetting into law of the payment of quarterly taxes on a 50-50 basis in…

December 4, 2024

Zimbabwe 2025 citizens’ budget

Zimbabwe has today unveiled a ZiG276.4 billion budget for 2025 during which it expects the…

November 28, 2024

To go or not to go- Mnangagwa in a quandary

Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…

November 25, 2024

ZiG loses steam, falls against US dollar for five consecutive days

The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…

November 22, 2024

Indian think tank says Starlink is a wolf in sheep’s clothing

An Indian think tank has described Starlink, a satellite internet service provider which recently entered…

November 18, 2024

ZiG firms against US dollar for 10 days running but people still do not have confidence in the currency

Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…

November 16, 2024