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Valorem Resources ( (TSE:AGC) ) has issued an update.
Avanti Gold Corp. has announced a non-brokered private placement offering of 40,000,000 units at $0.035 per unit, aiming to raise up to $1.4 million. The proceeds will fund annual license fees for the Misisi Gold Project and general working capital. Martino De Ciccio will become a 9.9% shareholder, while company insiders, including the chairman and CEO, will collectively hold 19% upon closing. This move highlights confidence in Avanti’s gold assets in the DRC and strengthens its financial position, potentially enhancing its industry standing.
More about Valorem Resources
Avanti Gold Corp. is a gold exploration company with a strong portfolio of projects in Africa, focusing primarily on the Misisi Project in the Democratic Republic of Congo. The company’s flagship asset, the Akyanga gold deposit, boasts an inferred mineral resource of 44.3 million tonnes at an average gold grade of 2.37 grams per tonne, totaling 3.1 million ounces of gold. The Misisi Project covers 133 square kilometers along the Kibara Gold Belt, a region known for significant gold deposits.
Average Trading Volume: 150,816
Technical Sentiment Signal: Hold
Current Market Cap: C$4.85M
See more insights into AGC stock on TipRanks’ Stock Analysis page.