Vancouver — Birim Goldfields (BGI-T) has raised $500,000 through the exercise of 972,652 outstanding warrants at a price of $0.30 per share and by way of two non-brokered private placements.
The two private placements came from two of the company’s largest shareholders SODEMEX, a subsidiary of the Caisse de Depot et Placement du Quebec and RBC-DS Precious Metals.
Birim Goldfields will put the money towards a reverse circulation drill program at its Dunkwa or Bui concessions in the Ashanti gold belt, Ghana, West Africa. The junior reports that certain gold prospects within the Dunkwa concession have yet to be drilled or have been subjected to very limited drilling. The company is currently sampling the concession to prioritize drill targets. At Bui, several gold-in-soil anomalies are at the drill-ready stage and will also be considered for drilling.
Birim owns 28 km of strike along the Ashanti Gold Belt, 13 km were recently transferred to Ashanti as part of the Reserves Purchase Agreement. This agreement allows Birim to receive an upfront royalty based on the number of recoverable gold ounces outlined in a feasibility study conducted by Ashanti on the Mampon deposit. Results of this study should be available shortly.
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