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The latest update is out from Zodiac Gold Inc ( (TSE:ZAU) ).
Zodiac Gold Inc. has allowed its exclusivity period with Avesoro Resources to expire without signing a definitive agreement, concluding that the proposed deal did not sufficiently reflect the value of its assets or align with shareholder interests amid strong gold prices. Instead, the company will prioritize an extensive resource development drilling program at its Todi Gold Project in Liberia and, subject to TSX Venture Exchange approval, will repay Avesoro’s US$200,000 exclusivity payment by issuing 1,191,489 Zodiac Gold shares, a move that preserves operational focus on exploration while keeping the door open to future collaborations on more favorable terms.
More about Zodiac Gold Inc
Zodiac Gold Inc. is a West African-focused gold exploration company listed on the TSX Venture Exchange and Frankfurt Stock Exchange, centered on its flagship Todi Gold Project in Liberia. The company is pursuing a district-scale gold opportunity along the Todi Shear Zone, in a politically stable, mining-friendly jurisdiction that also offers iron ore potential across a 2,316 km² land package with multiple drill-ready targets and demonstrated high-grade gold intercepts.
Average Trading Volume: 95,674
Technical Sentiment Signal: Buy
Current Market Cap: C$24.63M
For an in-depth examination of ZAU stock, go to TipRanks’ Overview page.