- Gold exploration company Amani Gold (ANL) has entered a trading halt to raise some fresh capital
- ANL hasn’t indicated how much it’s planning to raise or what it will spend the money on
- Newsflow has been light recently with very minimal exploration conducted at its Giro Gold Project in the Democratic Republic of Congo
- ANL ended the June quarter with $873,000 in cash and 0.88 quarters left of funding and said it was reviewing funding arrangements to support operations
- Company shares last traded at 0.2 cents on September 6
Amani Gold (ANL) has entered a trading halt to raise some fresh capital.
The gold explorer hasn’t indicated how much it’s planning to raise or what it will spend the money on.
Over the last few months, Amani Gold hasn’t released many substantial updates with its most recent being a quarterly update for the three months ending June 30, 2021.
The company was reportedly reviewing a draft of an updated feasibility study for the Kebigada deposit which is part of the Giro Gold Project in the Democratic Republic of Congo.
In terms of exploration, ANL undertook a review of the deposit and planned drilling but there haven’t been any definitive details on a drilling program since then.
At the end of June, Amani Gold had $873,000 in cash and 0.88 quarters left of available funding. When responding to whether it plans to raise further cash and how, it said it was reviewing funding arrangements to support future operations.
The company expects to come out of the trading halt on September 9, by which time details on the capital raise would have been released.
Company shares last traded at 0.2 cents on September 6.