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Golden Saint Resources raises £600,000 as new chief takes up reins

Proceeds will go towards strengthening the alluvial bulk sampling operations and also to explore new business opportunities
picture of diamond
Sierra Leone is renowned for large diamonds

Alluvial diamond miner Golden Saint Resources PLC (LON:GSR) has raised £614,000 to fund its rejuvenation under new chief executive Pierre Fourie.

Proceeds will go towards strengthening the alluvial bulk sampling operations and also to explore new business opportunities for the company, it said.

Fourie, who took over formally at the start of September, is a veteran of the South African diamond industry and the plan eventually is for the company to add to its existing assets in Sierra Leone.

WATCH: Golden Saint's new CEO keen to maximise potential of their diamond licences

The company said there were no operational services affected by the recent flooding in the country and washing is continuing at the Tongo and Baja sites, with completion by the end of this month. Work at Moa will begin in early October subject to the weather. 

David McDonald, executive chairman said: "We are looking forward to benefiting from the competence and professionalism that Pierre will bring to the board".

Shares in the placing were issued at 0.021p.

 

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