An update to earlier news, Ibaera now owns 100% of Azumah Resources and its flagship asset gold project in Ghana.
Ibaera 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.
“This is a great result for the shareholders of Azumah Resources Limited, Ibaera and the Black Volta gold project. We look forward to finalising the feasibility study and commencing construction of a new 100,000 oz per annum +2g/t African gold mine within the next 12 months.” Christopher Alexander, Partner and CFO.