African Gold Ltd (ASX:A1G)

African Gold Ltd (ASX:A1G)


Share Price
$ 0.16
Change
-0.005 (-3.13 %)
Market Cap
$8.54 m
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African Gold Ltd

African Gold Ltd (ASX:A1G) is exploring its Agboville projects in Cote d’Ivoire

EPIC: A1G
Market: ASX:A1G
52-week High/Low: A$0.400 / A$0.140
Sector: Mining
Market Cap: $8.54 m
Website: www.african-gold.com
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African Gold Ltd Snapshot

African Gold holds 100% of contiguous tenements highly prospective for gold at the Agboville Gold Project comprising 1400km2 in close proximity and to the to the north west of the economic capital and largest city in Cote d’Ivoire, Abidjan.

Cote d’Ivoire

Today Cote d’Ivoire is among the fastest growing economies in the world, and one of the most dynamic in West Africa. Côte d’Ivoire introduced a progressive new mining code in 2014, and on-going infrastructure improvements are making the country one of the more investor friendly countries in Africa. There is a strong desire to diversify the economy with gold and other mineral products. Exporting electricity  is playing an increasing role in this diversification.  Last year Côte d’Ivoire produced around 25 tonnes of gold up from only 1.2 tonnes in 2007. The mining sectors turnover rose by 11.5% in 2017, an increase achieved mainly via exports of gold, manganese and nickel. The country has 5 major producing gold mines and a number of near term development projects including Ity and Agbou (Endeavour), Yaoure and Sissingue (Perseus), Tongon (Randgold) and Bonicro (Newcrest). Other mineral commodities that offer potential for economic development in Côte d’Ivoire include diamonds, petroleum, natural gas, copper, iron, cobalt, bauxite, tantalum, lithium and silica sand.


The Agboville Project - An Exciting, Under-Explored Opportunity

Background

African Gold has 100% of four granted contiguous tenements. The permits comprise a total of 1400km2 and are located 50 kilometres to the north west of the economic capital and largest city in Cote d’Ivoire, Abidjan.

The Project is located in the south east of the West African Craton, in an area referred to as the South-Comoe domain, part of what is referred to as the Birimian (Paleoproterozoic rocks of West Africa). This land is well located and considered to be a excellent prospective for gold. It is also considered to have potential for nickel, cobalt, copper, lithium, tantalum +/- niobium and beryllium.

Mineralisation styles within the tenements are:

  • Shear Hosted Gold Mineralisation
  • Layered mafic-ultramafic intrusion hosted nickel, copper, cobalt mineralisation
  • Lateritic nickel – cobalt mineralisation
  • LCT Pegmatites, potentially hosting lithium, tantalum, niobium and beryllium mineralisation

Until quite recently there is little evidence of any systematic modern exploration in the area. To date there has been no exploration drilling completed in the project areas, and the exploration concepts remain completely untested. A number of large (>15km), of robust, high tenor (max gold in soil 4.11g/t) gold-in-soil anomalies present walk up drill targets. Additional work is required to evaluate nickel – copper – cobalt and LCT pegmatite potential.

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Last updated 11th April 2019

Glen Edwards
Chief Executive Officer & Exploration Manager

Mr Glen W Edwards in an economic geologist with over 25 years’ experience in the mining industry. He has worked for, and held senior positions in, a number of companies including: Gold Field of SA, Phelps Dodge, Anglovaal, Newmont, IAMGold, Indago Resources, Aviva Corporation and Acacia Mining. Mr Edwards has extensive experience in range of commodities, styles of mineralization in diverse geological environments around the world. Mr Edwards is an Africa “specialist” having grown up and worked for a large part of his career there. He has a demonstrated track record in developing and adding value to companies and shareholders through project generation, business development, exploration, discovery and resource development.

Mr Edwards holds a BSC degree in Geology and Chemistry from the University of Natal and a postgraduate degree in Geochemistry from the University of Cape Town. He is a Member of the Australian Institute of Geologists and the Society of Economic Geologists.


Evan Cranston
Non Executive Chairman

Evan is an experienced mining executive with a background in corporate and mining law. He is the principal of corporate advisory and administration firm Konkera Corporate and has extensive experience in the areas of equity capital markets, corporate finance, structuring, asset acquisition, corporate governance and external stakeholder relations. He holds a Bachelor of Commerce and Bachelor of Laws from the University of Western Australia.


Steve Parsons
Executive Director

Steve is an experienced geologist with an impressive record of exploration success in the gold sector. He has a proven track record of mineral discoveries, corporate growth, international investor relations and creating shareholder wealth. He was the founding Managing Director of Gryphon Minerals, which he listed on the ASX and grew it to an ASX-200 company. Steve is the Managing Director of ASX listed Bellevue Gold Ltd, a successful gold developer in West Australia as well Non-Executive director of Blackstone Minerals & Centaurus Metals and has advised a number of ASX listed companies.


Tolga Kumova
Non Executive Director

Mr Tolga Kumova has 15 years’ experience in stockbroking, corporate finance and corporate restructuring, and has specialised in initial public offerings and capital requirements of mining focused companies. He has raised in excess of $500 million for mining ventures, varying from inception stage through to construction and development.

Mr Kumova was a founding shareholder of Syrah Resources in 2010 and served as an Executive Director from May 2013 to October 2016, and as Managing Director from October 2014 to October 2016. Mr Kumova is currently Non-Executive Chairman of European Cobalt Ltd. Mr Kumova is also the Director of New Century Resources Ltd.

During his tenure at Syrah Resources, Mr Kumova led the business from resource stage through to full funding through to development, gaining experience negotiating offtake agreements with numerous globally recognised counterparties.


Michael Naylor
Company Secretary and Chief Financial Officer

Michael has 21 years’ experience in corporate advisory and public company management since commencing his career and qualifying as a chartered accountant. Michael has been involved in the financial management of mineral and resources focused public companies serving on the board and in the executive management team focusing on advancing and developing mineral resource assets and business development.

He is also an Executive Director of Bellevue Gold Limited, the Company Secretary of First Cobalt Corporation, joint Company Secretary of Blackstone Minerals Limited, Company Secretary of Cygnus Gold Limited and Director of Teranga Gold (Australia) Pty Ltd.

 


Last updated 11th April 2019

Registered Office:

Suite 3, Level 3
24 Outram Street
West Perth WA 6005

Email: [email protected]
Phone: +61 (8) 6166 9161

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