ASX-listed mining junior Wia Gold Limited (Wia) has received firm commitments from new and existing shareholders, including institutional and sophisticated investors, for a $19.8mn placement as it advances its project in Namibia.
Wia said in a release on November 7 that its directors have subscribed for about $662,000 of the placement of 200mn new fully paid ordinary shares.
The cash would be used to speed up ongoing drilling at its Kokoseb gold project to increase its mineral resource estimate. Some of the funding would be used to initiate scoping study work and advance the project towards definitive feasibility study completion, along with drilling at its Birimian gemstones project in Côte d’Ivoire, working capital and corporate costs.
“The progress made at the Kokoseb gold discovery over the past year has been exceptional and has been recognised by existing and new shareholders as a new gold district within Namibia, a highly regarded jurisdiction by the global mining industry,” Wia executive chairman Josef El-Raghy said.
“The placement is an important step in the transition of Wia into Namibia’s leading gold exploration company, but also accelerates the development of Kokoseb into Namibia’s next gold mine.”
Canadian oil and gas exploration and production company Africa Oil has increased its shareholding in Africa-focused independent explorer Impact Oil and Gas to 39.5%, the company said in ... more
Ghana’s Supreme Court is due to determine the fate of a contentious anti-LGBTQ bill on December 18, less than two weeks after the country’s presidential election, reports Citi News. The ... more
The number of children worldwide exposed to extreme climate events is set to rise eight-fold by the 2050s; they will face far more frequent extreme heatwaves, floods and droughts compared with the ... more