https://www.miningweekly.com

Amani Gold extends feasibility study for Giro project

19th December 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed Amani Gold has secured an agreement with Democratic Republic of Congo (DRC) State-owned entity, Société Minière de Kilo Moto (Sokimo) for an extension to the deadline for completion of a feasibility study at the Giro gold project.

The company’s DRC subsidiary, Amani Consulting and Sokimo have entered into an agreement under the terms of which the deadline for completion of a feasibility study at the Giro gold project has now been extended to December 31, 2018 in exchange for payment of a fee to Sokimo of $750 000.

If a feasibility study is still not complete by that date for reasons beyond Amani Consulting’s control and, in general terms, the feasibility study is progressing positively, then Sokimo may grant a further 12 months extension. Thereafter, in the absence of a completed study, Sokimo has the right to terminate the shareholders’ agreement with Amani Consulting by issuing a termination notice with a six months duration.

“The Amani Group is pleased to announce the agreement with Sokimo. That gives the company sufficient time to increase mineral resources through ongoing exploration at the Giro Gold Project and complete the necessary feasibility studies.” said the chairperson Yu Qiumin.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Iritron
Iritron

Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.077 0.881s - 111pq - 2rq
Subscribe Now