African Gold Group makes progress with CSR projects as it prepares for updated definitive feasibilit

African Gold Group Inc is a Canadian gold company listed on the TSX Venture Exchange with expansive holdings in West Africa’s prolific Birimian Greenstone Belt including more than 460 km2 across Mali and Burkina Faso. The company is focused on the development of the Kobada Gold Project located in Southern Mali, a low capital and low operating cost gold project with the potential to produce more than 100,000 ounces of gold per annum with over 10-plus years mine life.

African Gold Group, Inc said that it is upsizing its previously announced non-brokered private placement, raising gross proceeds of up to $5 million through the sales of up to 35,714,286 units at C$0.14 per unit.

The Toronto-based company said that it intends to use the net proceeds to advance its flagship Kobada Gold Project in Southern Mali and to continue to pursue corporate options.

The mining exploration company noted that each unit will consist of one common share of the company and one half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the company at an exercise price of $0.25 for a period of 24 months from issuance.

The closing of the offering is expected on November 8, 2021, the statement said.

() has announced that the Republic of Mali’s Ministry of Environment, Sanitation and Sustainable Development approved the Environmental and Social Impact Assessment (ESIA) for its Kobada Gold Project and has issued an updated environmental permit.

The ESIA marks a key milestone in the permitting process and is the culmination of extensive consultations and stakeholder engagement, the Toronto-based company said.

African Gold Group Inc has told investors it plans to raise up to $3.5 million through a non-brokered private placement financing of up to 25 million units at $0.14 each.

The net proceeds of the offering will be used to advance its flagship Kobada project in southern Mali and to continue to pursue corporate options, the Africa-focused gold company said.

How much of an uplift will African Gold Group Inc (CVE:AGG) get from its current round of drilling at the Kobada project in southern Mali?

A fair amount, probably, given what’s at stake.

African Gold Group (CVE:AGG) CEO Danny Callow catches up with Proactive’s Katie Pilbeam to discuss unveiling their latest definitive feasibility study (DFS) for its flagship Kobada gold development project in Mali.

The study incorporates the recently announced 66% increase in the proven and probable reserve at the potential mine, which could generate over 1.2 million ounces of gold over 16 years, averaging 100,000 ounces in the first ten years.

The pre-tax net present value (NPV) was pegged at US$506 million, while the internal rate of return (IRR) was put at 45%.