DRC: Amani Gold seeks USD 7 million to conduct gold exploration at Giro mine
Mining company Amani Gold announced on September 10 a two-tranche private placement of 7 billion shares at a price of $ 0.001 to raise $ 7 million. Shareholders as well as new investors took part in the operation, according to Agence Ecofin.
This fundraising will serve, according to Amani Gold, not only to replenish the company’s cash flow, but will also finance the development of its Giro gold project. The company is working in particular to complete a feasibility study launched last December for Kebigada. According to an estimate published in March 2020, this flagship deposit of the project harbors 4.1 million ounces of gold, at a cut-off grade of 0.5 g / t gold.
Note that the Giro gold project consists of two permits covering a total area of 497 km² in the Kilo-Moto belt in the northeast of the DRC. It is located less than 35 km from the Kibali Gold Mine, jointly operated by Barrick Gold and AngloGold Ashanti.
Amani Gold Limited, formerly Burey Gold Limited, is an Australian mining exploration company. The Company holds a stake in the Giro Gold project in the Haut-Uélé province. The Company is engaged in the acquisition and exploration of mining interests, in search of precious metals and energy. . The Giro project area is based on prospective volcano-sedimentary lithologies.
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