Atkins at the close of the transaction held 2,392,061 fully paid ordinary shares as well as a further 750,000 shares with an attached 10 million options at 3 cents per option.
Azumah is developing a portfolio of gold exploration assets in Ghana, having recently announced a total JORC resource of 2.496 million ounces across its Wa Gold Project’s 12 deposits.
Within this resource is an ore reserve of 9.1 million tonnes at 2.14 g/t gold for 624,000 ounces.
The company has progressively grown the resource by exploring its 2,400-square-kilometre licence holdings over large areas of prospective Birimian terrain, the rocks that host most of West Africa’s gold mines.
Along with a revised feasibility study and financial metrics, Azumah plans to continue drilling and growing the Wa resource and is fully funded to a development decision in the September quarter of 2019.