The Canadian junior miner's shares regain some ground after announcing it will not buy a 10% stake in DRC's biggest gold mine
AJN Resources has scrapped a plan to purchase a 10% stake in the Democratic Republic of Congo's biggest gold mine from state-owned gold firm Sokimo, buckling to pressure from Barrick, the operator and 45% stakeholder of the Kibali mine which opposed the deal.
"As a result of its due diligence and further information received, will not proceed with its proposed acquisition of Sokimo's 10% free carried interest in the Kibali," the company announced in a release late on Sunday. Congolese civil society groups added to the pressure on AJN, demanding transparency over the deal and asking why Sokimo's stake sales were not subject to an open tender.
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