Mining

Burkina Faso: Golden Rim Resources seeks to raise $3.5 million to develop Kouri project

Wednesday, 21 February 2018 17:18

Today February 21, Golden Rim Resources announced a $3.5 million fundraising campaign to fast-track exploration at its Kouri gold project in Burkina Faso. So far, it has received commitments from a number of investors for the placement of 87.5 million ordinary shares, worth 4 cents each.

“We are pleased with the overwhelming support the company received for the capital raising from a number of institutional, professional and sophisticated investors as it reflects the quality of our flagship Kouri gold project,” said Craig Mackay, the company’s managing director.

Golden Rim Resources plans to use the funds to complete the assessment of the untapped mineral resource as well as conduct further infill drilling campaigns and explore areas outside the mining zone. It will also be used as working capital.

The company which fully owns Kouri project also operates Babonga gold project in Burkina Faso.

On the same topic
Two-phase project targets 90,000 tons output; $160 million funding needed Project valued at $1.08B; aims to diversify graphite supply...
President Daniel Chapo denies allegations of torture and killings by security forces protecting Mozambique LNG in 2021. The ECCHR has filed a...
Niger starts selling Somaïr’s uranium despite a binding ICSID ruling obtained by Orano. Niamey is reported to have reached a deal with Russia’s...
Tullow Oil cut its board to four members while negotiating the refinancing of more than $1.8 billion in debt. The company reduced its 2025...
Most Read
01

Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...

Tanzania’s Mobile Money Goes Global: Vodacom Partners with Visa, Alipay, and MTN
02

Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...

Anthropic Partners with Rwanda, ALX to Deploy Claude-Powered AI Learning Companion Across Africa
03

Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...

Togo’s Kossi Ténou Appointed President of AMF-UMOA
04

JA Africa launches $1.5M digital safety program in four African countries Initiative to ...

Google.org, JA Africa to Train Children, Teachers and Caregivers in Digital Safety
05

Francophone Sub-Saharan Africa hosts 860+ startups but faces deep structural weaknesses EY urges...

Major Tech Reforms Needed for Francophone SSA to Attract More Investment, Report Says
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.