Okapi Resources stake in Amani Gold

By Justin Ware. Published at Mar 7, 2019, in Mining

Okapi Resources Limited (ASX:OKR) has secured a stake in Amani Gold Limited (ASX:ANL), after subscribing for its full entitlement under a fully underwritten non-renounceable rights issue.

In addition, it has received a further entitlement after sub-underwriting part of the rights issue shortfall: a total of 260.3 million shares have now been allocated to OKR at an issue price of $0.002 each.

In December 2018, OKR initially participated in a strategic private placement into Amani, after subscribing for 50 million shares at an issue price of $0.004 each.

Amani owns 55.25% of the Giro Gold Project, which is made up of two exploration permits covering a surface area of 497km2. The Giro title is located within the Kilo-Moto Belt (which is found within the DRC), which is a significantly under-explored greenstone belt.

Numerous major gold projects are nearby, including AngloGold Ashanti and Barrick’s 16 million-ounce Kibali gold mine group of deposits, which are 35km east of the Giro Project.

OKR’s acquisition is part of its strategy to seek out mineral resource investment opportunities in the DRC.

About Okapi Resources

OKR holds the Mambasa Gold Project, which is located in the Ituri Province of the DRC.

The project features two granted licences, PE364 and PE480. Mambasa sits in a region of well documented gold production and has impressive potential within a favourable setting that is similar to other large-scale gold deposits within the region.

The company continues to progress its exploration activities at the site. Encouragingly, Stage 2 soil and rock chip sample results returned up to 0.31 g/t gold in soil. 500 samples were sourced from areas of interest defined by the Stage 1 program.

OKR also holds the Crackerjack Gold Project, which is located in the Kimberley Region of Western Australia. Assays recovered from the site have returned results of up to 5.0g/t gold.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

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