Amani Gold Limited
BRYYF
Other OTC0.00
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Amani Gold Limited
BRYYF
(Other OTC)
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ROIC.AI
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- Amani Gold Limited engages in the acquisition, exploration, and development of precious metals properties, primarily gold projects in West Africa and Australia. Incorporated in 2005 and headquartered in Subiaco, Western Australia, the company formerly known as Burey Gold Limited changed its name in December 2016; it operates through subsidiaries including Giro Goldfields SARL in the Democratic Republic of Congo (DRC) and others such as Amani Consulting SARL, Amani Minerals (HK) Limited, and Amago Trading Tanzania Limited. Its principal activities historically centered on the flagship Giro Gold Project in the DRC's Kilo-Moto greenstone belt, comprising two exploitation permits spanning 497 square kilometers near Barrick Gold's Kibali mine; the project features the Kebigada deposit (estimated at 4.1 million ounces gold) and Douze Match deposit, with a total mineral resource of 149.2 million tonnes at 0.99 g/t gold following 2022-2023 diamond and RC drilling programs totaling over 3,500 meters that confirmed broad mineralization zones including 201 meters at 0.97 g/t Au from surface. Previously, the company pursued gold trading in Tanzania's Geita region via Amago Trading, sourcing from artisanal miners for refining and sale in Hong Kong, though this operation ceased in 2020 amid COVID-19 disruptions and is under disposal. In recent developments, Amani Gold executed a binding term sheet in February 2023 with Mabanga Shining SARL (formerly Mabanga Mining SARL) to sell its 85% interest in Amani Consulting SARL (holding a 55.25%-65% stake in Giro Goldfields SARL) for total cash consideration of US$30 million in four tranches; shareholder approval was obtained in August 2023, Tranche 1 (US$5 million) received in March 2023, and Tranche 2 (US$8 million) received by June 2024, with remaining tranches pending and shares held in escrow until full payment, enabling a pivot to new opportunities including a terminated 2024 acquisition agreement for Authium Ltd's Clayton Ridge lithium project in Nevada and a review of fresh mineral assets. The company raised A$1 million in December 2022 via placement of 1 billion shares at $0.001 with attaching options, executed board changes including appointments of Managing Director Conrad Karageorge and Non-Executive Chairman Peter Huljich in March 2023, further directors Glenn Whiddon, James Bahen, and Kian Tan in 2024 (with resignations including Burt Li and Anna Nahajski-Staples), issued performance rights vesting on tranche milestones (600 million converted in prior periods), initiated equal access buy-backs at $0.00035 per share in 2024 including for unmarketable parcels, completed a 1-for-1000 share consolidation in February 2025, delisted from ASX in December 2024 pending re-compliance with Listing Rules 1 and 2 post-acquisition, and announced a capital return of A$1.20 per share scheduled for June 27, 2025, representing over 90% of net cash post-Giro proceeds and expenses while evaluating growth through discovery, mining, and acquisitions with a cash balance of A$14.561 million as of June 2024.