RioZim Withdraws Cautionary Announcement

RioZim has withdrawn its June cautionary statement in which it warned of the impact of delayed gold payments.

The company now says “engagements with RBZ have been fruitful”. The company had said it was owed US$2.4m and $65.5m by Reserve Bank of Zimbabwe’s Fidelity Printers and Refineries (FPR). In a statement, the company said:

Shareholders are referred to the cautionary announcements dated 15 June 2020 and 8 July 2020 regarding the impasse between the Company, Fidelity Printers & Refiners (‘Fidelity’) and the Reserve Bank of Zimbabwe (‘RBZ’) over outstanding payments for gold deliveries made by the Company.

The Company would like to advise its valued shareholders that engagements with the RBZ have been fruitful.

The RBZ and Fidelity have been making part payments to the Company with a view to clearing outstanding amounts and have assured the company of timely payments for gold deliveries going forward.

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As a result, the Company’s operations are nearing normal capacity.

Accordingly, caution is no longer required to be exercised by shareholders when dealing in their securities.