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Azumah Resources’ new director shows faith in gold strategy by acquiring first batch of shares

The banking and project financier has acquired 400,000 shares on-market for total consideration of more than $10,000.

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Azumah is focused on the Wa Gold project in West Africa

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.

READ: Azumah Resources appoints two new directors to board

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.

She has held various senior positions with Commonwealth Bank of Australia, Standard Bank London Group and Barclays Capital in Sydney, London, New York, Chicago and, since 2003, Perth.

Bakker is also the Western Australian representative of Auramet Trading LLC, a New York-based metals trading firm and merchant banking advisory service.

READ: Azumah Resources delivers proof of concept for feeder zone at Wa Gold Project

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.

Quick facts: Azumah Resources Ltd

Price: 0.033 AUD

ASX:AZM
Market: ASX
Market Cap: $32.29 m
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Azumah Resources progresses towards developing Wa Gold Project in Ghana

Azumah Resources Ltd(ASX: AZM) managing director Stephen Stone updates Proactive Investors on the company’s progress towards developing its Wa project gold asset in the West African country of Ghana. The plans are advancing following the recent release of a scoping study that indicated...

on 13/8/19

2 min read