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    ANL   AU000000ANL3

AMANI GOLD LIMITED

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Amani Gold Limited Provides Update to Kebigada Feasibility Study

12/22/2020 | 05:20pm EDT

The Directors of Amani Gold Limited are announced that Beijing General Research Institute of Mining and Metallurgy has commenced an update of the Kebigada deposit DRC Feasibility Study. The Feasibility Study will comply with, and in many aspects exceed current DRC regulations. The Study is expected to be completed by January 2021. The updated DRC FS will incorporate the current Kebigada mineral resource estimate of 4.1Moz Au which is substantially larger than the Kebigada maiden mineral resource estimate of 2.9Moz Au which was utilized in previous studies. The Giro Gold Project comprises two exploration permits covering a surface area of 497km² and lies within the Kilo-Moto Belt of the DRC, a significant under-explored greenstone belt which hosts Randgold Resources' 17 million-ounce Kibali group of deposits within 35kms of Giro. The nearby Kibali Gold Project produces more than 600,000 oz gold per annum. The Giro Gold Project area is underlain by highly prospective volcano-sedimentary lithologies in a similar structural and lithological setting as the Kibali gold deposits. Both primary and alluvial gold was mined from two main areas, the Giro and Tora areas, during Belgian rule and these areas are mined extensively by artisanal miners. Giro Gold Project global resource for Kebigada and Douze Match deposits exceeds 4.4Moz contained gold; with a total Indicated and Inferred Mineral Resource Estimate of 132Mt @ 1.04g/t Au, for 4.4Moz gold. The Kebigada resource follows diamond core drilling results which successfully targeted deeper high-grade sulphide associated gold mineralisation within the central core of the Kebigada deposit. Drillholes GRDD034 and GRDD035 are 240m apart and both outlined high-grade gold mineralisation deeper than previously intersected at the Kebigada deposit. These gold assay results indicate the potential for the Kebigada deposit to substantially grow via targeted deeper and along strike drilling. Drillholes GRDD034 and GRDD035 are 240m apart and have both outlined high-grade gold mineralisation deeper than previously intersected at the Kebigada deposit. These gold assay results and the current Kebigada MRE indicate the potential for the Kebigada deposit to substantially grow via targeted deeper drilling along the entire strike of the orebody. A multi-purpose diamond core drill rig has been mobilized to Giro camp, has been serviced and is ready for use. Amani plans to complete 200m spaced drilling north and south of drillholes GRDD034 and GRDD035. The planned drilling campaign will involve 4 core holes, each nominally 500m in length for a total of 2,000m and is expected to commence in early 2021. Previous planned drilling campaigns have been delayed due to the availability of diamond core drill rigs in DRC because of border crossing closures.


ę S&P Capital IQ 2020
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Financials
Sales 2020 0,82 M 0,59 M 0,59 M
Net income 2020 -3,80 M -2,76 M -2,76 M
Net Debt 2020 1,96 M 1,42 M 1,42 M
P/E ratio 2020 -1,57x
Yield 2020 -
Capitalization 28,4 M 20,5 M 20,6 M
EV / Sales 2019 10 942x
EV / Sales 2020 10,7x
Nbr of Employees -
Free-Float 97,1%
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Managers and Directors
Klaus Peter Eckhof Executive Chairman & Managing Director
Conrad Karageorge Chief Operating Officer
King Sun Tsang Executive Director
Cong Mao Huai Non-Executive Director
James Timothy Bahen Secretary & Director
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