- Central African Gold (CAGR) has entered into an agreement with a third party to acquire a 60 per cent interest in the Zani-Kodo gold project
- Zani-Kodo is in Northeast DRC, 120km southeast of the Barrick-Anglogold Kibali mine, Africa’s largest gold mine
- This acquisition is a major milestone for Central African Gold
- Central African Gold is a natural resource company focused on the exploration, development and operation of mineral projects in the DRC
- Central African Gold Inc. (CAGR) opened trading at C$0.175 per share
Central African Gold (CAGR) has entered into an agreement to acquire a 60 per cent interest in the Zani-Kodo gold project.
Payment of the US$55 million for the 60% interest will include cash payments and assumption of third-party liabilities. The transaction remains subject to completion of technical and corporate due diligence, the execution of definitive agreements, required financing, and regulatory approval.
Zani-Kodo is in Northeast DRC, 120km southeast of the Barrick-Anglogold Kibali mine, Africa’s largest gold mine.
Mr. Yves Kabongo, CEO of Central African Gold commented on the acquisition.
“This acquisition is a major milestone and company building event for Central African Gold. It is the culmination of total group effort utilizing all of our extensive local knowledge of business and experience in the DRC, so essential to success in a complex environment.”
Mr. Kevin Torudag stated,
“Zani-Kodo is one of the last remaining drilled out assets in the DRC and retains significant upside potential. For Central African Gold to enter into an agreement to acquire a controlling interest in a project of this size is extremely exciting. We have stayed on course with our previously disclosed objective of pursuing and acquiring significant assets in the DRC and will continue to pursue additional opportunities.”
Central African is a natural resource company focused on the acquisition, exploration, development, and operation of mineral projects in the Democratic Republic of the Congo.
Central African Gold Inc. (CAGR) opened trading at C$0.175 per share.
