https://www.miningweekly.com

Amani raises A$25m for DRC project

10th May 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Amani Gold will raise A$25-million through a share placement to fund drilling and metallurgical testwork for feasibility studies at its Kebigada project, in the Democratic Republic of Congo (DRC).

Amani on Wednesday said that it had entered into a nonbinding memorandum of understanding to issue 500-million shares, at a price of 5c each, as well as 250-million free attaching options, exercisable at 7c each within a two-year term.

The agreement was inked with Hong Kong-based Luck Winner Investment, which was established to invest in Amani’s Giro gold project, and would see Chinese investors hold a 28% interest in the issued shares of Amani.

“Subject to completion, this capital raising will put Amani in a very strong position to take the Giro gold project through to completion of feasibility studies and assist with a comprehensive exploration programme at Tendao,” said Amani chairperson Klaus Eckhof.

“The raising introduces a cornerstone investor in the company at an attractive premium for existing shareholders,” he added.

The investment was subject to the completion of a due diligence and shareholder approval.

Amani holds a 55.25% interest in the two exploration licences making up the Giro project, which are less than 30 km from the producing Kibali gold deposits.

Edited by Creamer Media Reporter

Comments

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

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:0.157 0.19s - 88pq - 2rq
Subscribe Now