RNS30 Jun 2020 08:59
Highlights
· Significant operational and corporate progress achieved with the objective of recommencing mining and delivering first revenues from the Akokeri-Homase Gold Project ("AKHM") in the Ashanti Region of Ghana
· Reduction in loss for the year to $(655)k (2019: $(1.014)m and particularly a significant reduction in corporate and administrative expenses to $543k (2019: $1.014m)
· AKHM Definitive Economic Plan ("DEP") published, underpinning highly compelling fundamentals and highlighting potential for low capex, low opex gold production
· Ministerial approval for 10-year mining lease for the Homase South Pit, the first of three planned pits as detailed in the DEP, received in November 2019 and formally awarded post period end in February 2020
· US$4.3 million raised post period end, to take the Company through to first gold production targeted in Q4 2020
· Strengthened technical profile of the Board with the appointment of Dr Orrie Fenn, a highly experienced mining professional and previous CEO of one of the world's leading mining contractors, Murray and Roberts