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African Gold Group, Inc. (AGG.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.2200+0.0050 (+2.33%)
At close: 3:59PM EDT
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Previous Close0.2200
Open0.2300
Bid0.2100 x 0
Ask0.2300 x 0
Day's Range0.2200 - 0.2300
52 Week Range0.1000 - 0.4600
Volume595,735
Avg. Volume383,465
Market Cap32.766M
Beta (5Y Monthly)2.91
PE Ratio (TTM)N/A
EPS (TTM)-0.0600
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • REPEAT - African Gold Group Commences Dual Purpose Drill Program: Infill and Step out Targets on Untested Extension
    GlobeNewswire

    REPEAT - African Gold Group Commences Dual Purpose Drill Program: Infill and Step out Targets on Untested Extension

    Figure 1 Kobada and Faraba concessions Figure 2 Plan ViewTORONTO, Sept. 14, 2020 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to announce that a 10,000 meter drill program has commenced at the Company`s flagship Kobada Gold Project in Southern Mali. The phase 3 program is designed to both increase resources through strike length extension drilling and upgrade certain inferred resources to indicated. The Company continues to focus on advancing the Kobada Gold Project, based upon delivery of its very robust Definitive Feasibility Study (“DFS”) in July 2020 at $1,530/oz gold. The 2020 work program will focus on the following: * 10,000 m drill program comprised of approximately 160 holes, utilising reverse circulation (RC) and diamond drilling (DD) rigs at the Kobada main shear zone, its northern extension and the Gosso target. * Extension of main shear zone – prove strike extension northwards along continuous mineralized zone for at least another 4 km. * Gosso target - a mineralized fault zone located 5 km to the East of Kobada main shear zone with known mineralisation in high-grade grab samples (results below). * Resource upgrade - upgrade the 575,000oz inferred resources in oxides to the indicated and measured resource category with a target to reach 1 Moz of reserves.The Kobada Gold Project, based in southern Mali, is AGG’s flagship asset with the potential to produce 100,000oz of gold per annum. The previous drilling campaigns focused on delineating a 2.3 million-ounce resource, and 755,00oz oxide reserve, and only focused on 4km of 30km of shear zones identified on the concession. The upside potential of the Kobada Gold Project will be targeted in a number of phases, with Phase 3 focusing on the conversion of inferred ounces to indicated and measured resources and subsequently into reserves, and targeted drilling along the Kobada shear to extend the strike of the resource.“The delivery of the robust DFS, demonstrating a project with potential to produce 100,000oz per annum, with highly favourable financial deliverables, was a major milestone in the ongoing development of our flagship, ready for construction, Kobada Gold Project,” comments Danny Callow, Chief Executive Officer and President of AGG. “Despite some of the recent challenges in Mali, we have succeeded in mobilising and commencing exploration drilling. We look forward to re-commencing targeted exploration drilling to bolster the properties significant blue-sky potential by expanding resources and proving the upside potential of what could be a 3 to 5 million ounce deposit.”AGG awarded the contract to Etasi Drilling, a Malian drilling company, in keeping with the company policy of utilising high-quality local service providers. This partnership has enabled rapid mobilisation of the drilling fleet to site, more than 10km of roads and drill platforms have been prepared, and the company has started drilling.“We are very keen to advance the exploration drilling on our Kobada Gold Project,” says Dr. Andreas Rompel, Vice President Exploration. “In particular, we are looking forward to new discoveries along the parallel shear which is untested by drilling so far, and to upgrading the oxide resources to get the reserves to over 1 million ounces.”Extend Strike North Along Continuous Mineralized Zone * Last 3 holes of Phase 2 campaign intersected exceptional results to the north of the resource shell on main shear zone. Highlights include: * 22.20m at 5.25 g/t Au from 78.40m to 100.6m * 23.80m at 1.57 g/t Au from 110.50m to 134.30m * Historical artisanal workings show the extent of the mineralised zone for many kilometres. * Step out drilling expected to increase strike length of existing resource pit. * Drill plan will follow the continuity of the main shear zone into Faraba concession.Conversion of 575,000 oz Inferred Oxides * Near mine shallow resource drilling. * In-fill drilling of oxides in gap areas to convert to measured & indicated. * Target high confident conversion to reserves to increases life-of-mine to 10+ years.Develop Understanding of Gosso Potential Through Drilling * A test pit has been excavated on the Gosso target, located ~5 km to the East of the Kobada Gold Project’s resource pit. * Mineralization at the Gosso target appears to be identical to the main shear zone in its structural control and reinforces the prospect of multiple mineralized oxide and sulphide deposits in the closer neighbourhood of our Kobada shear. * The Gosso target has shown positive gold value assay results from grab samples earlier this year. * Sample 207470 returned 1.10 g/t Au * Sample 207471 returned 3.16 g/t Au * Sample 207473 returned 4.60 g/t Au * Sample 207475 returned 1.87 g/t Au * The Gosso target will be drill tested to estimate the mineralization and its extent along the shear. * The Company intends to initially diamond drill to the north and the south to gain knowledge about the structures defining the gold mineralisation, stepping away from the know fault location in the outcrop, and then follow up with RC drilling for grade estimation.Drilling CompanyEtasi & Co Drilling SARL (“ETASI”) has been selected to conduct the Phase 3 drilling program at Kobada Gold Project in Southern Mali. ETASI is the successor company to AMCO, who conducted the Company’s Phases 1 and 2 programs during 2019-2020 drilling program. The Company expects a similar high level of productivity by AMCO as demonstrated previously.About African Gold GroupAfrican Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (TSX-V: AGG) with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.Qualified PersonThe scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and by Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions.For more information:Danny Callow President and Chief Executive Officer +(27) 76 411 3803 Danny.Callow@africangoldgroup.comScott Eldridge Non-Executive Chairman of the Board (604) 722-5381 Scott.Eldridge@africangoldgroup.comDaniyal Baizak  VP Corporate Development (416) 861-2267 Daniyal.Baizak@africangoldgroup.comCautionary statements This press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, the Company’s Phase 3 exploration program, expectations of increase in resources or reserves at the Kobada Gold Project, contracting with ETASI, extension of shear zones and additional targets at Gosso and Faraba. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although AGG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‑looking information. AGG does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/e4fcc4d1-b9af-4f1a-a958-e8017720fab7https://www.globenewswire.com/NewsRoom/AttachmentNg/9088da1d-cc12-4563-b28b-d66206e48054

  • African Gold Group Commences Dual Purpose Drill Program: Infill and Step out Targets on Untested Extension
    GlobeNewswire

    African Gold Group Commences Dual Purpose Drill Program: Infill and Step out Targets on Untested Extension

    Figure 1 Kobada and Faraba concessions Figure 2 Plan ViewTORONTO, Sept. 14, 2020 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to announce that a 10,000 meter drill program has commenced at the Company`s flagship Kobada Gold Project in Southern Mali. The phase 3 program is designed to both increase resources through strike length extension drilling and upgrade certain inferred resources to indicated. The Company continues to focus on advancing the Kobada Gold Project, based upon delivery of its very robust Definitive Feasibility Study (“DFS”) in July 2020 at $1,530/oz gold. The 2020 work program will focus on the following: * 10,000 m drill program comprised of approximately 160 holes, utilising reverse circulation (RC) and diamond drilling (DD) rigs at the Kobada main shear zone, its northern extension and the Gosso target. * Extension of main shear zone – prove strike extension northwards along continuous mineralized zone for at least another 4 km. * Gosso target - a mineralized fault zone located 5 km to the East of Kobada main shear zone with known mineralisation in high-grade grab samples (results below). * Resource upgrade - upgrade the 575,000oz inferred resources in oxides to the indicated and measured resource category with a target to reach 1 Moz of reserves.The Kobada Gold Project, based in southern Mali, is AGG’s flagship asset with the potential to produce 100,000oz of gold per annum. The previous drilling campaigns focused on delineating a 2.3 million-ounce resource, and 755,00oz oxide reserve, and only focused on 4km of 30km of shear zones identified on the concession. The upside potential of the Kobada Gold Project will be targeted in a number of phases, with Phase 3 focusing on the conversion of inferred ounces to indicated and measured resources and subsequently into reserves, and targeted drilling along the Kobada shear to extend the strike of the resource.“The delivery of the robust DFS, demonstrating a project with potential to produce 100,000oz per annum, with highly favourable financial deliverables, was a major milestone in the ongoing development of our flagship, ready for construction, Kobada Gold Project,” comments Danny Callow, Chief Executive Officer and President of AGG. “Despite some of the recent challenges in Mali, we have succeeded in mobilising and commencing exploration drilling. We look forward to re-commencing targeted exploration drilling to bolster the properties significant blue-sky potential by expanding resources and proving the upside potential of what could be a 3 to 5 million ounce deposit.”AGG awarded the contract to Etasi Drilling, a Malian drilling company, in keeping with the company policy of utilising high-quality local service providers. This partnership has enabled rapid mobilisation of the drilling fleet to site, more than 10km of roads and drill platforms have been prepared, and the company has started drilling.“We are very keen to advance the exploration drilling on our Kobada Gold Project,” says Dr. Andreas Rompel, Vice President Exploration. “In particular, we are looking forward to new discoveries along the parallel shear which is untested by drilling so far, and to upgrading the oxide resources to get the reserves to over 1 million ounces.”Extend Strike North Along Continuous Mineralized Zone * Last 3 holes of Phase 2 campaign intersected exceptional results to the north of the resource shell on main shear zone. Highlights include: * 22.20m at 5.25 g/t Au from 78.40m to 100.6m * 23.80m at 1.57 g/t Au from 110.50m to 134.30m * Historical artisanal workings show the extent of the mineralised zone for many kilometres. * Step out drilling expected to increase strike length of existing resource pit. * Drill plan will follow the continuity of the main shear zone into Faraba concession.Conversion of 575,000 oz Inferred Oxides * Near mine shallow resource drilling. * In-fill drilling of oxides in gap areas to convert to measured & indicated. * Target high confident conversion to reserves to increases life-of-mine to 10+ years.Develop Understanding of Gosso Potential Through Drilling * A test pit has been excavated on the Gosso target, located ~5 km to the East of the Kobada Gold Project’s resource pit. * Mineralization at the Gosso target appears to be identical to the main shear zone in its structural control and reinforces the prospect of multiple mineralized oxide and sulphide deposits in the closer neighbourhood of our Kobada shear. * The Gosso target has shown positive gold value assay results from grab samples earlier this year. * Sample 207470 returned 1.10 g/t Au * Sample 207471 returned 3.16 g/t Au * Sample 207473 returned 4.60 g/t Au * Sample 207475 returned 1.87 g/t Au * The Gosso target will be drill tested to estimate the mineralization and its extent along the shear. * The Company intends to initially diamond drill to the north and the south to gain knowledge about the structures defining the gold mineralisation, stepping away from the know fault location in the outcrop, and then follow up with RC drilling for grade estimation.Drilling CompanyEtasi & Co Drilling SARL (“ETASI”) has been selected to conduct the Phase 3 drilling program at Kobada Gold Project in Southern Mali. ETASI is the successor company to AMCO, who conducted the Company’s Phases 1 and 2 programs during 2019-2020 drilling program. The Company expects a similar high level of productivity by AMCO as demonstrated previously.About African Gold GroupAfrican Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (TSX-V: AGG) with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.Qualified PersonThe scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and by Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions.For more information:Danny Callow President and Chief Executive Officer +(27) 76 411 3803 Danny.Callow@africangoldgroup.comScott Eldridge Non-Executive Chairman of the Board (604) 722-5381 Scott.Eldridge@africangoldgroup.comDaniyal Baizak  VP Corporate Development (416) 861-2267 Daniyal.Baizak@africangoldgroup.comCautionary statements This press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, the Company’s Phase 3 exploration program, expectations of increase in resources or reserves at the Kobada Gold Project, contracting with ETASI, extension of shear zones and additional targets at Gosso and Faraba. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although AGG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‑looking information. AGG does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/e4fcc4d1-b9af-4f1a-a958-e8017720fab7https://www.globenewswire.com/NewsRoom/AttachmentNg/9088da1d-cc12-4563-b28b-d66206e48054

  • GlobeNewswire

    REPEAT: African Gold Group Partners With SAFE Ltd in Providing Provenance and Transparency of its Supply Chain Process for Delivery of Gold

    TORONTO, Aug. 24, 2020 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to announce that it has partnered with SAFE Ltd (“SAFE”), a company specialising in providing best in class advice and solutions for companies looking for provenance and transparency in their supply chains, advice on current and impending regulations, and improvement in ESG standards.As a first phase, SAFE has created a Digital Supply Chain Map for AGG which will enable it to assess and address all risks along its future supply chain which could be subject to corruption or affected by conflict minerals regulation. The Digital Supply Chain Map also provides the backbone for implementing the right technology to show provenance and traceability. By beginning the process prior to operation allows the Company to develop a robust and risk-free supply chain of gold from production through to finished product. End-users will have access to this supply chain to ensure integrity at every step of the process.“The importance of ensuring full transparency and provenance along every point in the supply chain cannot be underestimated,” says Danny Callow, Chief Executive Officer of AGG. “With a much more stringent regulatory framework due to be introduced on gold in the European Union at the beginning of 2021, as well as our own internal requirements to ensure that we operate at the highest levels of ESG, this partnership is timely in our evolution towards construction and operation.”The Company intends to work with SAFE and its international partners to develop a complete solution which will provide full oversight of the production of gold through to the end-user. SAFE Ltd combines expertise through legal partners, Squires Patton Boggs, skilled in conflict minerals legislation, supply chain and operational personnel with decades of experience in logistics of commodities in challenging countries worldwide, and technology partners able to put in place “best-in-class” systems including blockchain technology.“Growing regulatory and commercial drivers mean customers increasingly need to mitigate risks in their supply chains,” says Dafydd Davies, MD of SAFE. “Regulation & market restructures are widening scope and increasing standards on players previously shielded from obligations. All players must align processes and controls that identify, assess, mitigate and report on risks to new and tightening global legislation. Combine this with the increasing focus on ESG from the investment community, and it’s clear the industry has a lot of work to do cleaning up its supply chains.”In January 2021, the new EU Conflict Minerals Regulation will come into full force, and will include gold, as well as tantalum, tin and tungsten, known as 3TG. These regulations will ensure that EU importers of 3TG meet international responsible sourcing standards, set by the Organisation for Economic Co-operation and Development (OECD). The regulations will also ensure that global and EU smelters and refiners of 3TG source responsibly,  help break the link between conflict and the illegal exploitation of minerals and help put an end to the exploitation and abuse of local communities, including mine workers, and support local development.About SAFE LtdSafe. Ltd provides through its own expertise and alliances with international partners the following services: * Legal Advisory: Assess and anticipate legislation and compliance through trusted legal experts​. Advising on the existing and impending legal requirements applicable to supply chains worldwide through trusted legal experts. * Business Process Optimisation: Improving business processes to ensure that the practical tools needed to satisfy existing and impending legislative requirements are in place. * Technology Transformation: Establishing best-in-class systems and processes around supply chains through technology.For more information regarding SAFE Ltd visit the website at www.safesupply.io. Mr. Danny Callow is a minority shareholder and partner of SAFE.About African Gold GroupAfrican Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (TSX-V: AGG) with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.For more information:Danny Callow President and Chief Executive Officer +(27) 76 411 3803 Danny.Callow@africangoldgroup.comScott Eldridge Non-Executive Chairman of the Board (604) 722-5381 Scott.Eldridge@africangoldgroup.comDaniyal Baizak  VP Corporate Development (416) 861-2267 Daniyal.Baizak@africangoldgroup.comCautionary statements This press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, the partnership with SAFE. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although AGG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‑looking information. AGG does not undertake to update any forward-looking information, except in accordance with applicable securities laws.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.