Mako Gold, will raise AU $ 10 million through an equity placement to finance exploration work on its Napie gold project in Ivory Coast.
The share placement will include 125 million shares, priced at 8 cents each, which will be issued in two tranches. The first tranche of 64.3 million shares, which will raise AU $ 5.1 million, will be placed under Mako’s existing placement capacity, while the second tranche of an additional 60.7 million shares will be subject to shareholder approval at a meeting scheduled for mid-August.
For Managing Director Peter Ledwidge, “We are extremely satisfied with the massive support from quality national and international institutional investors. Attracting institutional investors of this quality testifies to the potential of the project and the experience of our team ”
Funds raised to implement major drilling programs and other prospects in Napie and to accelerate exploration of the Korhogo project