Marange Update

RNS Number : 2429S

African Consolidated Resources Plc

07 September 2010

 



African Consolidated Resources Plc (the 'Company')

Marange Update

African Consolidated Resources plc ("the Company"), the Zimbabwe-focused mineral exploration and development company, announces that the Zimbabwe High Court has decided to rescind its Judgement of September 2009 in favour of the Company which confirmed the validity of the Company's mining claims within the Marange diamond field.  The Company will immediately appeal to the Supreme Court against the rescission.  It is understood that the appeal will have the effect of suspending the rescission.  The Company will issue a more detailed statement upon receipt and analysis of the written judgement.

Enquiries:

African Consolidated Resources plc

Roy Tucker                                                          [phone] / [phone]

African Consolidated Resources plc

Andrew Cranswick                                          [phone]

Ambrian Partners Limited

Richard Greenfield                                         [phone]

 

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