A correction to earlier news, in 2020, Ibaera Capital Fund LP increased its stake in Azumah Resources Limited (Australia) up to 69%. Azumah Australia owns a 53.5% interest in Azumah Resources Ghana Limited.
Azumah Australia has delisted the company from the Australian Stock Exchange and changed the name of the project to the Black Volta gold project, for the major river that runs to the west of the project. Running for 1,352 km, the Black Volta River provides the water for the mine and Ghana’s thriving agriculture. It also supplies the Akosombo Dam, a hydroelectric power station that provides 49% of the power to Ghana and also to the Black Volta mine project. It is truly part of the life-blood of Ghana.
Azumah Ghana is currently updating the feasibility study in order to commence construction of a new 148,000 oz per annum c.2g/t African gold mine in 2024.
