African Lion Gold plc

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

  • Access: 60 km from Kamudzu International Airport, Lilongwe and 220 km from Chingozi International Airport,  Tete
  • Size: 170 km2 (17, 000 ha)
  • Ownership: 80% ALG; 20% Mozambique Partner
  • Status: Mining Concession granted 14 September 2021
  • Work Completed: Geophysics; 7, 190m of Diamond and RC Drilling; Soil Sampling Program; CPR completed by SRK 2022
  • Exploration Target: 220,540 – 1,369,600 oz Gold 
  • Positive Drill Results: High-grade intersections of 5.00 – 38.00 g/t Au and wide lower-grade halo.
  • Deposit Type: Shears in Thermal Aureole Gold (TAG) Setting

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

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January 2022
Project Update

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September 2021
Exploration Update

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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

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