AJN Resources has scrapped a plan to purchase a 10% stake in the Democratic Republic of Congo's (DRC'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.
The Canadian junior miner's shares tumbled nearly 50% last week reports said Barrick issued a cease-and-desist notice to block the Kibali stake purchase...
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