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Mako Gold gains new substantial shareholder in Delphi; fully funded for Napié gold drilling

Proceeds of the placement will strengthen Mako’s balance sheet and provide a pathway to accelerate exploration at the Tchaga Prospect on the Napié Gold Project.

Mako Gold Ltd - Mako Gold gains new substantial shareholder in Delphi; fully funded for Napié gold drilling
Mako is exploring West Africa’s Birimian Greenstone Belts which hosts over 400 million ounces of gold.

Mako Gold Ltd (ASX:MKG) has gained a new substantial shareholder in Delphi which has picked up an 8.93% interest in the company.

Wilhelm K.T. Zours majority-owned Delphi Unternehmensberatung Aktiengesellschaft (AG) and related entities picked up the stake by participating in Mako’s $10 million placement.

The placement at an issue price of 8 cents per share was strongly supported by new and existing institutional investors.

Mako is now fully funded to deliver an accelerated exploration program as part of its growth strategy at the flagship Napié Gold Project in Côte d’Ivoire.

High-quality institutional investors

Mako managing director Peter Ledwidge said: “We are extremely pleased by the overwhelming support from quality domestic and international institutional investors.

“Attracting such high-quality institutional investors speaks to the potential of the project and experience of our team.

“Proceeds of the placement will strengthen Mako’s balance sheet and provide a pathway to accelerate exploration at the Tchaga Prospect on the Napié Project as we move towards and beyond a maiden mineral resource estimate.

“The funds raised will also allow us to implement significant drill programs on other prospects at Napié and to fast-track exploration on our Korhogo Project.

“We are pleased to welcome a number of new institutional shareholders to our register and sincerely thank our existing shareholders for their continued support.”

Quick facts: Mako Gold Ltd

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Price: 0.094 AUD

Market Cap: $35.93 m

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