Mine Restoration Investments pins its hopes on angel investor

Mine Restoration Investments (MRI) hopes negotiations with an angel investor will allow the company to invest in the iron beneficiation project it has been pursuing for the past few years, according to CEO Richard Tait. If not, MRI will have to enter voluntary liquidation. MRI’s shares were voluntarily suspended seven months ago as management warned there was uncertainty over its status as a going concern, which also made it impossible to publish audited financial figures for the year to February 2016. MRI’s major shareholders at the time were AIM-listed Armadale Capital; Stellar Capital, an investment company in which retail tycoon Christo Wiese is a major investor; Capital International, which manages some of the former Trinity Asset Management client portfolios; and the AfrAsia Special Opportunities Fund.

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