(Ecofin Agency) - Golden Rim Resources, which is active on the Kouri gold project in Burkina Faso, has raised $1.27 million via a rights issue. The money will be used to fund drilling program at the firm’s flagship project, as Golden Rim intends to convert the JORC exploration target to a maiden resource by the end of this year.

“We are pleased with the results of the rights issue and the support we have received from our existing shareholders. Arrangements are being made to commence our drilling program at Golden Rim Resources' flagship project, the Kouri gold project in Burkina Faso, as soon as possible,” said Golden Rim Resources MD, Craig Mackay.

Golden Rim owns 100% of the Kouri project in Burkina Faso as well as the Babonga gold project whose permit it recently renewed for three years.

Louis-Nino Kansoun