Azumah Resources Limited’s (ASX:AZM) newly appointed director Debra Bakker has showed faith in the company’s West African gold strategy by acquiring shares on-market.
The banking and project financier has made her first acquisition of 400,000 Azumah shares for total consideration of more than $10,000.
Bakker, who was appointed to the board last month, has more than 25 years’ experience as an international banker, deal maker and advisor to the resources industry.
Bakker is also the Western Australian representative of Auramet Trading LLC, a New York-based metals trading firm and merchant banking advisory service.
Azumah’s flagship is the Wa Gold Project in Ghana at which exploration is progressing on multiple fronts aimed at updating the resource and delivering an interim ore reserve.
Follow-up drilling in the central zone of the Kunche deposit has provided further proof of concept for a possible feeder zone into the main Kunche deposit.
The feeder zone is expected to enable the existing shallow pit design to be deepened and an underground mining option to be scoped.
Resources update this quarter
Azumah expects to update resources during this quarter and ore reserves by the end of the year.
The Wa resource includes 1.4 million ounces in the measured and indicated categories grading 1.7 g/t and incorporates a reserve of 624,000 ounces.