Published: 13 May 2014

Investment intelligence company, Edison Independent Investment Research, has upgraded its valuation of Mwana Africa on the back of better production at units Freda Rebecca and Bindura Nickel Corporation in the fourth quarter.

The investment research company said while the now historic numbers were low, its valuation has increased to 12,1c for Freda Rebecca and Bindura Nickel Corporation from 11,7c previously.

The prior valuation was based on long-term metal prices and a 10 percent discount rate, owing to the passage of time, discounting from financial year 2014 and not the current financial year.

Edison has projected the multi-commodity miner to rake in $122,6 million revenue for the year to March compared to $109,2 million and profit before tax to come it at $6,9 million against $11,5 million last year.
- The Herald

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