Metallon partners Hennessy Capital
CLOUDINE MATOLA
Gold miner Metallon Corporation has partnered with Nasdaq-listed Hennessy Capital Investment Corporation (HCVI), as part of efforts to propel operations at its mines, Business Times can report.
Metallon operates mines including Mazowe Mine, How Mine and Redwing Mine, among many others.
In a statement, Metallon said: “In the first quarter of the year 2024, the shareholders of How Mine, Redwing Mine, and Mazowe Mine announced a strategic plan to restore sustainable mining at Redwing and Mazowe, and increasing production at How Mine.
“As previously communicated, the shareholders of How Mine, Mazowe and Redwing mines have been diligently exploring various investment options to propel these operations into a new phase of growth.
“…We are pleased to announce a transaction by way of a business combination with Hennessy Capital Investment Corporation (HCVI), a reputable company listed on the Nasdaq Global Market (NASDAQ: HCVI),” Metallon said.
Metallon added that, pending regulatory approvals, the acquisition is expected to close by the end of 2024.
Furthermore, as a result of this agreement, Redwing and Mazoe Mines could resume operations and boost output at How Mine.
Additionally, it offers the nation economic opportunities and increases the mining sector’s appeal to foreign markets.
“The transaction strongly positions the two mines, Redwing and Mazowe, to resume operations, while scaling up production at How Mine. The transaction further demonstrates the attractiveness of Zimbabwe’s mining sector to international capital markets, thereby offering more economic opportunities for the country,” Metallon said.
