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Azumah Resources chairman adds to shareholding, brings total to 3.14 million shares

The total shareholding amounts to $56,520 at today’s 18-cent share price and represents about 4% interest in the company.
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Azumah is developing the Wa Gold Project in far northwest Ghana

Azumah Resources Ltd (ASX:AZM) chairman Michael Atkins has purchased 500,000 shares on market, bringing his total holding to more than 3.14 million shares.

Atkins at the close of the transaction held 2,392,061 fully paid ordinary shares as well as a further 750,000 shares with an attached 10 million options at 3 cents per option.

READ: Azumah Resources’ Ghana joint venture leveraged for transition to gold producer

Azumah is developing a portfolio of gold exploration assets in Ghana, having recently announced a total JORC resource of 2.496 million ounces across its Wa Gold Project’s 12 deposits.

Within this resource is an ore reserve of 9.1 million tonnes at 2.14 g/t gold for 624,000 ounces.

The company has progressively grown the resource by exploring its 2,400-square-kilometre licence holdings over large areas of prospective Birimian terrain, the rocks that host most of West Africa’s gold mines.

Along with a revised feasibility study and financial metrics, Azumah plans to continue drilling and growing the Wa resource and is fully funded to a development decision in the September quarter of 2019.

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