The Directors of Azumah unanimously recommend that Shareholders REJECT the Ibaera Offer

To reject the Offer, DO NOTHING

Read Target's Statement

Azumah Resources Limited is a Perth-based, ASX-listed (ASX:AZM) exploration company focused on the highly prospective gold province in the Upper West Region of Ghana, West Africa.

  • 2.8Moz Mineral Resource; 1.03Moz Ore Reserve
  • 2,400km² regional-scale prospective Birimian terrain
  • Feasibility Study pending Q3, 2019
    • Plus 100,000oz/yr, from open-pit mining
    • 11-year operational life
    • CIL gold recovery; >2g/t Au process grade
    • US$117M initial development capital cost
    • 2x 15 yr mining leases granted
  • Numerous quality early to advanced stage targets
  • Strong community and government support
  • Largely de-risked for rapid development
  • Excellent infrastructure. Grid power to gate
  • Ibaera Capital Fund has earned an initial 42.5%
  • Ibaera multi-disciplinary and accomplished team managing feasibility study and exploration
  • Recent discovery of Bepkong East Lode mineralisation to 580m depth
  • Bepkong underground Scoping Study completed
  • Recent extension of Kunche mineralisation to 500m below surface
  • 13.4% equity in Ghana neighbour, Castle Minerals Limited (CDT) (10,000km²)

Key Details

Board & Management:

Chairman:
Michael Atkins
Managing Director:
Stephen Stone
Non-Executive Directors:
Debra Bakker
Linton Putland
Company Secretary:
Dennis Wilkins

Issued Capital:
978.6M ordinary shares
3M 3c options expiring 30.06.2020
45M 3c options expiring 13.11.2021
1.5M 3c options expiring 31.01.2021

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