admingain last Friday.
The mining index had regained on Friday after days of big losses but a US2c drop in Bindura saw the resource index declining 3,64 percent to 78,05 points.
Bindura, still struggling to restart operations, says “uncertainty” over the country’s indigenisation laws has cast doubts over the group’s ability to continue operations.
In its financial statement for the interim period ending September 30, 2011, the group said the requirement to raise new finance also presented material uncertainty as a going concern, making it a candidate for liquidation.
RioZim was steady at US30c on news that the diversified resource firm was working on a “revised” recapitalisation scheme and debt retirement.
According to market sources, a new rescue plan for RioZim was being worked on but would be more of amendments to the earlier resolutions than anything else.
Hwange, which is yet to secure funding for recapitalisation, was unchanged at US30c.
Hwange, the biggest mining counter in terms of market capitalisation, is negotiating with DBSA for a loan to re-equip its mines.
The industrial index was marginally higher at 138,54 points after advancing 0,15 percent on gains in Old Mutual and selected second-tier stocks.
Old Mutual, the country’s largest insurer, advanced US5c to US121c.
TA, an investment holding with assets in hotels, insurance and fertiliser, was up US2,99c to US15,10c. Afdis, a manufacturer and importer of range of wines, spirits and ciders, advanced US1c to US11c.
Fidelity, the ZSE best performer this year, recovered US1c to US13c.
TSL rose US0,50c to US7,5c. On the downside was Aico Africa which dropped US1,50c to US13,50c while Meikles came off US1c to US19c.
Other losses were in starafrica which retreated 0,26c to a cent with Innscor and Trust Holdings down US0,20c each at US53c and a US1c.
Online Reporter