Mako hooks big funding support

MAKO Gold has more than A$13 million to spend on exploration at its Napie gold project in in Cote d’Ivoire after a $10 million fundraising that issued new shares at 11.5c each.
Mako hooks big funding support Mako hooks big funding support Mako hooks big funding support Mako hooks big funding support Mako hooks big funding support

The junior said the funding would allow it to "execute a systematic exploration and growth strategy that aims to extend existing high-grade mineralisation, test multiple high priority regional prospects and to support a future maiden mineral resource estimate".

Mako believes its Napie ground has "potential for multimillion ounce gold deposits", with four prospects returning gold in drilling. 

They include Tchaga where a headline hit of 13m at 21 grams per tonne gold from 32m has been recorded.

Mako has a 51% interest in Napie and can earn 75%, with its joint venture partner being gold miner Perseus Mining.

Another ASX-listed West Africa gold miner Resolute Mining exited its investment in Mako earlier this month.

Prior to going into a trading halt Mako's shares were trading at 14c, capitalising the company at $23.5 million.

The stock was trading at levels around 8c 12 months ago.