Mining firm Amani Gold signed with Chinese Luck Winner Investment a memorandum of understanding (MoU) for a $25 million investment in the Giro gold project, in DR Congo. The funds which will be raised via the placement of 500 million shares at a unit price of 5c, will be used to finance metallurgical testwork and drilling for feasibility studies.
After the fundraising, Luck Winner, will be holding a 28% interest in the issued shares of Amani Gold. However, the deal is still subject to the successful completion of due diligence for the project and to shareholders’ approval.
“Subject to completion, this capital raising will put Amani in a very strong position to take the Giro gold project through to completion of feasibility studies […],” said the Amani’s chairman, Klaus Eckhof.
Formerly known as Burey Gold, Amani Gold holds in DR Congo the Tendao and Giro projects.
Louis-Nino Kansoun
DRC met Alibaba, Isoftstone to discuss adapting China’s e-commerce model Joint working group ...
The new unified platform replaces the NIBSS Instant Payments system. It connects banks, finte...
DRC minister visited Huawei China center to boost AI training cooperation Talks focused on launch...
Germany to provide €49 million ($56.7 million) to support ECOWAS projects. Funds target peac...
Madagascar is going through one of the most turbulent periods in its recent political history. After...
The International Labour Orgazation (ILO) reported in 2024 that over 22% of African workers experience underemployment, hindering economic...
Burkina Faso has initiated the recruitment of 208 hospital-university assistants to bolster medical education and practical skills in...
Zambia launches a three-pillar strategy focused on energy security, national infrastructure sharing and faster rollout of telecom towers. The...
Partnership gives access to Digital School platforms, tools, and expertise Supports plan for nationwide digital learning rollout by 2027 Nigeria and...
Singita will invest $60m to build a 60-bed lodge on Santa Carolina Island and $42m in projects across the Bazaruto Archipelago. The...
The Okapi Wildlife Reserve, located deep within the Ituri Forest in the northeastern Democratic Republic of Congo, stands as one of the Congo Basin’s most...