Avana Resources Limited (“Avana” or, the “Company”) Avana Resources announces a $20 million digital security (“Token”) offering to accelerate and broaden its production and exploration capabilities. Among its assets, the company has active mining operations in Kenya which have a gold ore processing capacity of 12 tons per hour (tph) from an estimated 513,000 ounces of available gold at a grade of approximately 6 grams/ton. The funds raised will enable a production increase to 36 tph in Kenya and the completion of geophysics and drilling programs in Kenya, Madagascar and Mozambique.
The company has explored for and identified gold in Madagascar and Mozambique. The team is also aware of other metals and minerals in all of its locations as a result of geological surveys and exploration work conducted to date. Token holders have the potential of benefiting from significant blue-sky opportunity related to these minerals.
Token holders will be entitled to 30% of net profit originating from all revenues generated from Avana Resources globally.
Further information about Avana and the Token Offering is available at the company website: https://www.avanaresources.com
“Avana has launched a successful gold operation in Kenya and with today’s announcement looks to increase significantly the capacity of the Kenyan operation while also accelerating development of its operations in Madagascar and Mozambique” – Sam Malin (CEO)
About Avana Resources Limited
Avana Resources Limited, an Isle of Man company, is an East African gold producer and explorer founded in 2007. Avana is engaged in responsible and sustainable production, development and exploration of gold resources in East Africa and Madagascar. Avana’s most advanced project is in Kenya, where it operates a carbon-in-pulp (CIP) processing plant that produces gold doré of about 80%pure gold alongside a mining operation while simultaneously undertaking appraisal and exploration of its concession. Avana’s work to date on its concession points to the presence of several gold deposits in the order of 250,000 oz each. Avana intends to increase significantly its gold ore processing capacity in the near-term whilst simultaneously building and improving the quality of its resources figures.
Avana also has a focus on Madagascar, historically a significant gold producer, which produces far less gold than its potential due to under-exploration, under-development and a lack of investment. Avana is a well-established first mover in this renewed gold province with a very significant prospective acreage position on which it is undertaking exploration and appraisal with a view to moving its commercially-attractive holdings into production
Avana benefits from its strong cultural connection to sub-Saharan Africa, which is where a number of key team members are drawn from and where others have been active for decades. Avana team members have an excellent track record in developing projects in other high-yielding investment areas. Avana has a profound regional technical understanding, excellent relations with the regional business community and at all levels of government as well as linguistic skills relevant to its project countries.
For Further information about the Company (and the Tokens), please see the Company’s website https://www.avanaresources.com or contact:
Sam Malin
Chief Executive Officer
Avana Resources Limited
Email: info@avanaresources.com
Tel (USA): +1 646 820 9959
Tel (UK/Isle of Man): +44 208 638 6111
Avana’s regulation services provider has neither reviewed nor accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information:
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks presented in the Company’s slideshow/presentation on http://www.avanaresources.com. While the Company may elect to, it does not undertake to update this information at any time.
Media Contact
Company Name: Avana Resources Limited
Contact Person: Sam Malin
Email: Send Email
Phone: +1 646 820 9959
Country: United Kingdom
Website: https://www.avanaresources.com
