Azumah Strikes A$17M Earn-In Deal

    Published on August 4th, 2017

    Azumah Resources Limited (ASX:AZM) is pleased to advise it has entered into a binding Term Sheet enabling Perth managed private equity group, Ibaera Capital GP Limited (Ibaera), to earn in two stages up to a 47.5% interest for an expenditure of US$13.5 million ~(A$17M) in the Company’s Wa Gold Project in Ghana, West Africa (Project).

    See highlights below:

    • Investment group Ibaera Capital to earn up to 47.5% for US$13.50M spend (~A$17M) at Wa Gold Project, Ghana (over two years)
    • Represents material revaluation of Project and Azumah
    • Objective is to boost resources and reserves and deliver a fundable development project
    • Ibaera has option to invest up to A$2M in new Azumah ordinary shares at a premium of 10% above 10-day VWAP by 31 August 2017
    • Execution of full Earn-In, Investment and Joint Venture Agreement (EIJVA) expected by 31 August 2017
    • Acceleration of news flow and investment catalysts to result

    Read full announcement

    SOURCE: AZUMAH RESOURCES LIMITED
    DATE: AUGUST 2, 2017

    Azumah

     

    Connect with our Teams

    SIGN UP FOR EMAIL ALERTS

    CONNECT WITH CSA GLOBAL
      SIGN UP FOR EMAIL ALERTS