Good News From DRC Boosts Anvil and Moto Goldmines Shares

The Democratic Republic of Congo has finished its infamous mining contract review, and companies are starting to report the results. So far, the damage is not as bad as many investors feared.

Shares of Moto Goldmines Ltd. (MTOGF.PK) jumped about 30% after the company announced a number of proposed changes to its contracts. While the government wants to change the terms, it does not plan to cancel any of the contracts, which clearly relieved investors.

Similarly, the government called for Anvil Mining Ltd.'s (AVMNF.PK) Dikulushi project, which predates the DRC mining code, to be transferred to that code. Investors took that as good news, and Anvil shares rose more than 5%.