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Converting Note Redeemed
Ghana focused gold explorer and developer Azumah Resources Limited (ASX:AZM) (�Azumah� or �the Company�) advises that it is to redeem its $2 million Converting Note provided by Ausdrill Limited (ASL: ASX)(�Ausdrill�) through the payment of $1 million cash and the issue of 22,727,273 shares at a price of $0.044 each, being the same price as the recently completed share placement and Shareholders Purchase Plan.
The preferred contractor status of Ausdrill and its African contract mining services subsidiary, African Mining Services (�AMS�) will continue until 1st August 2017.
Azumah and Ausdrill have worked closely since the Note was issued (refer ASX release dated 28th January 2014) to enhance and advance Azumah�s Wa Gold Project, in north-west Ghana (�Project�) and will continue to do so.
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Azumah Resources Limited
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DEVELOPMENT STAGE |
CODE : AZM.AX |
ISIN : AU000000AZM5 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Azumah Res. is a gold exploration company based in Australia. Its main asset in development is WA in Ghana and its main exploration properties are KUNCHE and BEPKONG in Ghana. Azumah Res. is listed in Australia. Its market capitalisation is AU$ 18.6 millions as of today (US$ 12.4 millions, € 11.5 millions). Its stock quote reached its highest recent level on November 05, 2010 at AU$ 0.83, and its lowest recent point on August 02, 2019 at AU$ 0.01. Azumah Res. has 582 569 984 shares outstanding. |