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Reefton’s woes continue

URANIUM hopeful Reefton Mining’s recent troubles have compounded with the announcement that the company’s Alternative Investment Market (AIM) nominated adviser, Grant Thornton, has resigned.Reefton’s shares have been suspended from trading on AIM and, should the company fail to find a replacement within a month, its shares will be cancelled. The Perth-based explorer has also lost the support of broker to the company HB-Corporate. Reefton shares fell more than 10 per cent on the day of the announcement. This follows a refusal by the Namibian Government to allow the company to explore for nuclear fuels at its Erongo project. The company advised the market of its intention to seek a meeting with the Namibian Minister of Mines and Energy to discuss the matter further. In mid-July, Reefton raised $240,000 before costs in a share placement to UK-based Shore Capital Stockbrokers at 6.5 cents a share.

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