Miner Falcon Gold suspended from ZSE

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    Harare -Trading in shares of Falcon Gold has been suspended on the ZSE pending the release of outstanding financials.

    Falcon Gold is involved in the mining of gold at Golden Quarry mine, its single operating subsidiary, located in Shurugwi.

    The mine was reopened recently after years of shutdown and subsequent to the disposal of Dalny Mine to Rio Zim.

    Generally the company has been struggling reporting losses in each of the last 5 years amidst technical insolvency.

    In a statement on Tuesday, the ZSE notified the investing public of the voluntary suspension from trading in shares of Falcon Gold saying the suspension will be with effect from February 5 2019.

    The suspension will be lifted once the company publishes its outstanding 2018 financial report. The company’s year-end is September and was expected to have released the financials by December as per provision 64 of the Securities Exchange Act.

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