African Gold Group Featured In The Financial Post, Mining News Section
Dear Investors,
We wish to bring your attention to African Gold Group Inc.'s most recent press release which was prominently featured in the Financial Post, Mining News Section.
"African Gold Group, Inc., ("AGG" or the "Company") (TSX VENTURE:AGG) is pleased to report that the Government of Mali's Minister of Mines, the Honourable, Monsieur Amadou Cisse, has formally granted AGG an extension of its Kobada, Mali exploration license.
AGG's application for extension of the exploration license was granted to facilitate AGG completing a Feasibility Study for the Kobada (Mali) gold project. The extension of the exploration license calls for AGG to submit a Feasibility Study to the Ministry of Mines (Mali), on or before June 28, 2012. AGG anticipates submitting a positive Feasibility Study. The submission of a positive Feasibility Study is required for securing an Exploitation (Mining) License.
On July 14, 2011 AGG issued a press release announcing the results of its 43-101 compliant Preliminary Economic Assessment ("PEA") for the Kobada (Mali) gold project. The PEA estimates an after-tax Net Present Value (NPV) of US$216.9 million from commencement of construction and an after-tax Internal Rate Of Return (IRR) of 90.57% using a base case of US$1,100 per ounce of Au and a discount rate of 5%."
Continue Reading at the Financial Post...
Additional Information is available on the Company's website at africangoldgroup.com and on sedar.com and through the Company's offices at:
Sun Life Financial Tower,
Suite 2518, 150 King St. West,
Toronto, Canada M5H 1J9.
On Behalf of the Board:
Michael A. J. Nikiforuk, President, Director
African Gold Group, Inc.
Michael A. J. Nikiforuk
President, Director
(416) 644-8892 ext 101
info@africangoldgroup.com