Amani raises cash for DRC gold
PERTH (miningweekly.com) – Junior gold developer Amani Gold will raise A$7-million through a share placement to sophisticated and professional investors, to fund the development of its Giro gold project, in the Democratic Republic of Congo.
The ASX-listed company on Friday said it had received firm commitments for the placement of seven-billion shares, at a price of 0.1c each. Participants in the share placement will also be offered one free attaching listed option, each exercisable at $0.0015 and expiring in January 2024.
The placement will be completed in two tranches, with the first tranche comprising some 1.8-billion shares to be issued under the company’s existing placement capacity.
Tranche 2 of the placement comprises 5.2-billion shares and will be issued subject to shareholder approval. The grant of options pursuant to the placement is also subject to shareholder approval.
Shareholder approvals will be sought at the company’s annual general meeting, which is expected to be held in early November 2021.
Funds raised from the placement will be allocated to development and commercialisation of the Giro gold project, providing working capital and to pay for the costs of the placement. Funds will also be reserved for repayment of a A$2.1-million convertible note held by Neo Gold, if Neo elects to be repaid the convertible note amount.
The convertible note matures in January 2022.
Amani is undertaking an assessment of its Giro gold project with the goal of accelerating the development or commercialisation of the deposit. This work has included a number of desktop studies in relation to the Kebigada deposit as well as a consideration of potential business development and corporate opportunities.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
