Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Cote d’Ivoire Acquisition Completes

by admin May 8, 2024
May 8, 2024
Cote d’Ivoire Acquisition Completes

Many Peaks Minerals Limited (Many Peaks or the Company) (ASX: MPK) is pleased to advise that it has completed its acquisition of 100% ownership of CDI Holdings (Guernsey) Ltd from Turaco Gold Ltd (‘Turaco’) and Predictive Discovery Ltd (‘Predictive’), which holds the right to acquire an 85% interest in four mineral permits in Cote d’Ivoire, with recent gold discoveries and over US$4 million in prior exploration expenditure.

The four mineral permits encompass a vast 1,275km2 land package including advanced stage exploration projects (see Figure 1).

The consideration paid by the Company for a 100% interest in CDI Holdings (Guernsey) Ltd for the acquisition included:

The issue a 5,617,978 fully paid ordinary shares in Many Peaks under the Company’s capacity under ASX listing rule 7.1 to:5,000,000 shares issued to Turaco; and617,978 shares issued to Predictive.Assumption of a 1.0% net smelter royalty (“NSR”) payable to Resolute (Treasury) Pty Ltd (ACN 120 794 603) (“Resolute”).The Company will also pay to Turaco and Predicative all future proceeds and consideration received for the sale of the Boundiali South Permit (Exploration Permit PR414) pursuant to a binding term sheet between Aurum Resources Limited (ASX:AUE), Turaco, CDI Holdings and Predictive Discovery Cote d’Ivoire SARL (refer to Turaco’s ASX announcement dated 19 March 2024).

Future Work Programs

Many Peaks plans to immediately commence initial diamond drill tests concurrent with auger drilling and surface geochemistry activity at the Odienne project in the current quarter. Concurrent with auger work, the company has already initiated field work complete mapping, regolith studies and modelling reviews with a focus on identifiying extensions to open gold mineralisation defined in the successful air core drilling tests completed last year at Odienne.

At the Ferke project auger drilling is anticipated to commence next quarter with a focus on defining additional targets to extend mineralisation. Follow-up drilling to expand on the intitial discovery success at Ferke generated from limited RC and diamond drilling coverage is planned to complete before year end within the 17km gold anomaly hosting the Ouarigue South discovery within the Ferke Project. (refer to ASX release dated 26 March 2024).

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
How to Invest in Cobalt (Updated 2024)
next post
Craig Hemke: Gold’s Next Price Target, Key Silver Factors to Watch

Related Posts

Guide to Uranium Mining in Canada

August 21, 2025

Element79 Announces Private Placement

October 26, 2024

Crypto Market Update: Bullish Targets Upsized US$4.82 Billion...

August 12, 2025

World Class Copper Potential Increased at Yataga Copper...

September 30, 2024

Troy Minerals Strengthens Leadership Team

November 7, 2024

Top 5 Canadian Mining Stocks This Week: Royalties...

June 21, 2025

Energy Fuels Announces Q2-2024 Results Including Uranium Mining...

August 3, 2024

Editor’s Picks: Gold Faces Bumpy Week on Trade...

June 1, 2025

Stallion Uranium to Resume Trading on the TSX-V and...

July 5, 2025

GMV Minerals

January 2, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump nominees squeezed between ‘blue slips’ and blue obstruction

      September 1, 2025
    • Trump says he will require voter ID with executive order

      September 1, 2025
    • Former FBI Director Robert Mueller has Parkinson’s disease: report

      September 1, 2025
    • Commencement of Henbury Field Program

      September 1, 2025
    • RCM to Acquire Webbs Consol Silver Project from Lode Res.

      September 1, 2025

    Categories

    • Business (1,092)
    • Investing (2,946)
    • Politics (3,598)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved