Sign up Australia
Proactive Investors - Run By Investors For Investors

Azumah Resources opens in-the-money raising for Ghana gold

The new funds will be allocated to the Wa Gold Project in Ghana.
Azumah Resources opens in-the-money raising for Ghana gold
Wa is already a multi-million gold ounce project

Azumah Resources Ltd (ASX:AZM) has now dispatched its prospectus for a fully underwritten non-renounceable rights offer to raise circa A$2.33 million.

The record date of the offer is the 16th August 2017, and is priced at $0.02 on the basis of 1 new share for every 5 shares.

Azumah shares closed at a premium to the offer on Friday at $0.023.

The funds raised through the rights issue will strengthen the company’s ability to deliver on a variety of initiatives in the coming months at its Wa Gold Project in Ghana, West Africa.

The positive momentum continues for Azumah who recently outlined a transformational $17 million earn-in detail with new partner Ibaera Capital.

WATCH LATEST VIDEO - Details on A$17 million earn-in deal

To date at the project Azumah has defined a JORC 2012 Resource of 2.06 million ounces of gold at 1.5 g/t gold across 7 deposits.

The Kunche, Bepkong and Julie deposits have an Ore Reserve of 624,000 ounces of gold.

View full AZM profile View Profile

Azumah Resources Ltd Timeline

Related Articles

picture of gold and dollars
March 14 2017
The advancement of over 100,000 ounces from the lower-confidence inferred category to indicated classification was significant.
July 25 2017
Greatland Gold is paying AU$25,000 in cash plus shares for the Havieron gold project
picture of mine
July 18 2017
Harry Adams, KEFI’s executive chairman, said a development funding approach was more appropriate for start-up purposes than bank debt

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use