(NewsDirect)
Awalé Resources Ltd CEO Andrew Chubbspeaks to Thomas Warner from Proactive after the junior explorationcompany closed a non-brokered private placement with Newmont VenturesLimited, a subsidiary of Newmont Corporation, raising nearly C$1million. The funds will be allocated for greenfield exploration on theOdienné project permits and enhances Newmont's stake in thecompany to 15%.
Originally holding10% of Awalé through a joint venture, Newmont's investment dippedbut was restored and increased at a premium price. This financialboost enables Awalé to accelerate exploration on their wholly-ownedpermits, which encircle the two properties jointly ventured withNewmont.
Chubb suggests that the expanded investment fromNewmont not only demonstrates trust in Awalé's operationalapproach but also signifies the potential of the district where theyoperate. Reflecting on 2023, Chubb expresses satisfaction with thecompany's progress.
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