Waraba Gold Limited ( (TSE:WBGD) ) has issued an update.
Waraba Gold Limited has announced a strategic move to acquire up to 80% of Somaco Global Resources SARL in Ivory Coast, which holds two prospective gold license applications. This acquisition, alongside the appointment of two experienced geologists to its board, aims to enhance Waraba’s technical competence and expand its exploration footprint in West Africa. Additionally, Waraba plans to raise US$500,000 through non-convertible unsecured debentures to fund its initial commitments under the earn-in term sheet. Meanwhile, operations in Mali have been suspended due to security concerns, but Waraba remains committed to the Fokolore Gold Project, awaiting a stable operating environment to resume activities.
More about Waraba Gold Limited
Waraba Gold Limited is a resource exploration company focused on acquiring and exploring mineral properties. It is a reporting issuer in British Columbia and Alberta, with its common shares trading on the Canadian Securities Exchange under the symbol ‘WBGD’ and on the Frankfurt Stock Exchange under the symbol ‘ZE0’.
Average Trading Volume: 12,214
Technical Sentiment Signal: Buy
Current Market Cap: C$1.62M
Find detailed analytics on WBGD stock on TipRanks’ Stock Analysis page.