"Some juniors might be apprehensive about exploration in the DRC but at Amani Gold, we have a highly experienced board that has worked extensively in the region."

Conrad Karageorge

CEO, AMANI GOLD

May 16, 2022

Could you introduce Amani Gold to our audience?

Amani Gold is an ASX (ANL) and OTC (BRYYF) listed company focused on gold exploration in the Kilo-Moto Greenstone Belt. Our Giro gold project stretches almost 500 km2 and covers two concessions - our flagship Kebigada deposit and the Douze Match deposit – together combined to 4.4 million oz Au. We are putting money into the ground as part of an aggressive exploration campaign: This year, we will be drilling up to 10,000 m to further grow the resource into a world-class gold deposit.

Amani Gold has postponed running a feasibility study. What is the project’s upside potential?

Before putting out a feasibility study, we wanted to make sure that the final report would show the full potential of the project. We think there is a bigger story here and we want to take the time to fully test these grounds. There is scope for both increasing the size of our resource and finding higher grades. At Kebigada we are testing the main ore body looking for higher-grade elements as well as resource extensions at depth. Our RC drilling program will also test some exciting high grade satellite deposits.

Could you walk us through your financing strategy and current capital structure?

As of December 2021, Amani Gold holds around A$9 million in capital. In September last year, we raised A$5.3 million from a Placement and A$6.33 million in options exercises. We found very strong support from the ASX, but also from American investors. Amani Gold is one of the few ASX companies that trade heavily on the OTC market in the US, where we have a very strong following among retail shareholders.

How do you find the current investment climate for gold, and how do you think investors rate the DRC and DRC-based juniors?

As an exploration company headquartered in Perth, I would say that the capital raising climate is quite good. There is definitely a feeling that we are in a commodity super-cycle and juniors are receiving commensurate attention. 2021 was a record year for IPOs in Australia. In terms of the gold story, the number of projects that have become economic has grown substantially over the past two years ultimately thanks to the rising gold price. I personally think gold still has a long way to go.

Some juniors might be apprehensive about exploration in the DRC but at Amani Gold, we have a highly experienced board that has worked extensively in the region. Our Chairman, Klaus Eckhof, has a strong record of success in the region and our director Peter Huljich is a director of AVZ Minerals, a great lithium success story in the DRC.

Could you familiarize our audience with the operational aspects of your property, including the presence of artisanal mining and the relationship with the local community?

The Giro project is located on the Kilo-Moto belt, which also hosts the 16 million oz Kibali gold mine just 35 km away from our property. There is huge potential for more greenfield discoveries in the region. Amani has established a very effective exploration ecosystem in the region. We have a technical team located on site at Giro and our drilling contractors have their RC and Diamond rigs located at our camps, which is very convenient.

Community relations at Giro is a key component of our project development process. As part of our community outreach plan we are running a health clinic and a school at the Giro campsite. The Kilo-Moto region sees activity from artisanal miners, who operate in designated artisanal mining areas. Amani has a good working relationship with artisinals working outside of our concession.

Do you have a final message?

Amani Gold has a very experienced team and a very robust company structure. We look forward to fully developing the 4.4 million oz Giro gold project, which we think has the potential to become a truly world-class operation.  

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