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It intends to use the net proceeds to advance its flagship Kobada Gold Project in Southern Mali and to continue to pursue corporate options.
Further potential remains to significantly increase the resource and reserve along strike and depth at the Kobada Gold Project.
“This transaction between two existing shareholders demonstrates strong institutional demand and continued interest in the uranium sector."
The Company has finalised all necessary engineering and study work to provide capex and timeline estimates together with project economics.
“Loulo-Gounkoto continues to confirm its status as a Tier One club and the largest private sector contributor to Mali’s GDP."
The project is located within the highly gold endowed Birimian volcano-sedimentary belt in south-western Mali