High-grade gold opportunity in mineral rich region
Business Highlights
- ALG offers a Pre-IPO Convertible Loan Note with full upside potential and limited downside risk, with a 10% coupon and additional warrants
- Mining Concession granted and valid for 25 years with the option to extend for an additional 25 years
- Maiden Mineral Resource expected in the second half of 2022
- ALG plans to list after completion of the Maiden Mineral Resource
- High-grade gold zones surrounded by a wide lower-grade halo with mineralisation from surface
- ALG defined an Exploration Target of 220,540 to 1,369,600 oz Gold on only 3 of the 20 Prospect Areas with substantial Blue-Sky potential on the additional 17 Prospect Areas
- An early-stage contract miner has been appointed to mine and produce gold with no capital outlay or risk for ALG, potentially making ALG self-funded from early cash flow
- First Feasibility Study to be completed by 2024 with the goal to produce a Multi-Million Ounce Resource
- ALG is committed to sustainable development by supporting and empowering the local community through upskilling and assisting local farmers, schools and healthcare
- The company has established strong relationships amongst local government and communities
- Highly experienced team with a wide range of skills in project acquisitions, exploration, mining and in-country operations, as well as project development from conceptual stages to operations
Transaction Overview
African Lion Gold Plc raising £3M Via Convertible Loan Notes
Pre Placement
| Shares Outstanding | 72,522,317 |
| Options / Warants Outstanding | 0 |
| Debt Outstanding | £711,237 |
| Valuation | £10,153,124 |
Convertible Note Offering
| Convertible Note | Lesser of 25% Discount at IPO or £0.14 |
| Interest | 10% per annum |
| Warrants | 1 per share converted @ £0.14 (strike price of £0.21 per share) |
Use of Proceeds
| Activity | Total Project |
| Exploration Geologist Drilling (6-100 metres) Laboratory Analysis (6550) Camp/Operations Soil & Auger Sampling (2000) Equipment & Infrastructure In country Logistics & Admin Licence & Community relations |
£2,335,330 |
| Corporate & Admin Salaries Financials, Audit, Legal & IT UK – Office MUR – Office |
£110,658 |
| Listing Fees Audit fee, Legal, NOMAD |
£363,293 |
| Corporate Finance Fee | £195,000 |
| TOTAL | £3,004,280 |
| Anticipated Raise | £3,000,000 |
Project Overview
Chifunde Project at a Glance
Mining Contractor Engaged
Mining Concession in Hand
Gold Mineralisation from Surface
Committed to Sustainable ESG
Company Overview
African Lion Gold plc (ALG) is an exploration and mining company focused on gold and associated precious metal discoveries in Mozambique.
Mozambique is politically stable with a multi party democracy and has a resilient GDP growth. It is one of the most under explored countries in the world and in the past 5 years major discoveries include the largest graphite deposit, the largest ruby deposit and the second largest gas deposit in the world, with a recent surge in significant gold projects.
The Mozambique government is committed to foreign investment in mining with attractive project tenure and a mining friendly operating environment
Videos
Announcements
July 2022
Project Update
January 2022
Project Update
September 2021
Exploration Update
Team
Cobus Van Wyk
President & Chairman, Director
Franco Jordaan
Chief Executive Officer/Chief Financial Officer
Dirk Muntingh
Technical Director
Philip Richards
Non-Executive Director
Robert W. Schafer
Non-Executive Director
Paulo Cintra
Mining Engineer
Kyle Lusted
Head of Geological Department
Bento Muxlhanga
Senior Gelogist
