08 April 2024
08 April 2024
The risk of serious injury and death is a sad reality in mining, but technology can help reduce accidents and improve emergency response.
Argonaut plans to use the net proceeds from the private placement to address its immediate liquidity needs.
The establishment of the facility aligns with President Yoweri Museveni's plan to maximise the benefits of Uganda's mineral exports.
Funds will be directed towards the operational costs and reserve accounts of the Vidalia facility.
The increased and final takeover proposal values Shanta at around £156.1m ($196.84m), up 10% from the initial offer.
The proceeds will be used by the company to fund its La Virginia Project and corporate needs.
The nation’s finance minister is confident investments will lead to a rise in production.
The deal is set to establish a diversified gold company with an annual production capacity of 400,000oz.
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