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President and CEO of New Dawn, Ian Saunders said Turk mine would now be the focus.

“Now that we have achieved a steady state production level, our focus will be to utilize the recently increased processing capacity at Turk Mine – now at 580 tonnes per day – to further increase gold production,” commented Ian R. Saunders, President and CEO. “In addition to continuing our efforts to increase production at the Turk Mine, we are also advancing our exploration activities in Zimbabwe on our portfolio of past gold producers.”

At November 2009 month-end, an additional 500 ounces or 15.5 kg’s of gold were awaiting export for sale in South Africa, which will be included in December 2009 sales

New Dawn reported that gold production at its Turk Mine in Zimbabwe for November 2009 decreased slightly to 1,130 ounces or 35.2 kg’s, as compared to 1,235 ounces or 38.4 kg’s produced in October 2009.

November gold production was in line with management’s expectations; the marginal decease in production was primarily attributable to one less production day in November as compared to October.

Gold sales for November 2009 totalled $1,367,000 at an average sales price of $1,138 per ounce. At November 2009 month-end, an additional 500 ounces or 15.5 kg’s of gold awaited export for sale in South Africa, as compared to 558 ounces or 17.4 kg’s of gold at October 2009 month-end. Gold held for export at month-end is included in sales in the following month.

100% of New Dawn’s gold sales from the Turk Mine were received in US dollars.

A total of 159 842 772 were offered for the rights which opened on the 16th of November and closed on December 4.

Out of these, only 107 716 387 were subscribed which represent a 67 percent take up rate.

The undewriters of the Rights Issue have been allocated 53 126 365 shares.

The insurance company embarked on the rights issue as it seeks to raise money for capital developments and also improcve on its business.

This loss comes against a background of a very modest turnover of US$2.7 million.

“This lower than budgeted turnover was attributed to depressed demand for the company’s products coupled by the subdued liquidity conditions in the economy.

“The results reflect the need for the company to increase its turnover and improve effectiveness in order to return to profuitability,” said Engineer Mataure the company chairman.

Steel sales were down 30 percent to 2 556 compared to last year while the company’s wagon division managed to break even.

“The group’s intention is to increase its share of activities in this sector and explore regional opportunities.

“Group capacity utilisation averaged between 15 and 20 percent for the year with most contracts coming from the fuel and energy, telecommunication and water reticulation sectors,” said Eng Mataure.

This meant that the percentage under subscription was 98.6%

Ordinary shares issued to under writer 6 ,712,518,015

Preference shares issued to under writer 6 ,992,897,326

Following a 98,4% under subscription of the CFX Financial Services rights offer, the underwriter Interfin Holdings Limited has taken

possession of the bank as they now take up the undersubscribed shares. Interfin got 6,712,518,015 shares that were

undersubscribed to give them a controlling stake in CFX of 51%. In addition the underwriter got a further 6,992,897,326 preference shares.

The exclusive park is offering a US$60 per person per night at the three start lodges with a four course dinner and a full English breakfast.

Children under the age of 12 will pay half price.

Self catering lodges are also available on request.

Mbizi remains one of the most exciting places in the capital because of the mixture of proximity to the city and the comforting serenity.

There are a number of activities for the family and this include cruising, game viewing amont others.

Opening up to the media on Wednesday night, Chanakira said the financial institution was now focused on what has to be done after they undertook a number of bold decisions in the past few months.

Some of the decisions have included rationalisation of staff by up to 182 as well as maiking sure that the remainder go on a shift programme.

Chanakira also said that the problems with Moxon were exaggerated.

He said if the relations had soured to the levels which had been suggested by the media, then why would they have hosted their function in Meikles.

“It remains a five star hotel,” said Chanakira.

He also said that the new team was driven by a belief that what they were doing was right and those who differed had left.

This is the first time that Chanakira has come out in the open and talked freely to the media.

There has been a lot of speculation on high health which contradicted what he showed on Wednesday.

Chanakira said the Kingdom group would soon be unveiling a number of products not only for the Zimbabwean market but the region.

This was the second time that grain bills were floated and there was a change this time around as investors are looking for an alternative to the Zimbabwe Stock Exchange.

A total of US$2.9 million was bidded for by the investors against a target of US$2.5 million.

The highest return tendered was 40 percent while the lowest was at 20 percent and bills were alloted at 23.5 perecent.