Awalé Resources sees fresh Newmont investment as statement of "confidence in the story" | News Direct

Awalé Resources sees fresh Newmont investment as statement of "confidence in the story"

News release by Awalé Resources Ltd

facebook icon linkedin icon twitter icon pinterest icon email icon Vancouver | December 29, 2023 01:46 PM Eastern Standard Time


Awalé Resources Ltd CEO Andrew Chubb speaks to Thomas Warner from Proactive after the junior exploration company closed a non-brokered private placement with Newmont Ventures Limited, a subsidiary of Newmont Corporation, raising nearly C$1 million. The funds will be allocated for greenfield exploration on the Odienné project permits and enhances Newmont's stake in the company to 15%.

Originally holding 10% of Awalé through a joint venture, Newmont's investment dipped but was restored and increased at a premium price. This financial boost enables Awalé to accelerate exploration on their wholly-owned permits, which encircle the two properties jointly ventured with Newmont.

Chubb suggests that the expanded investment from Newmont not only demonstrates trust in Awalé's operational approach but also signifies the potential of the district where they operate. Reflecting on 2023, Chubb expresses satisfaction with the company's progress.


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