African Queen Mines
African Queen Mines Ltd. and its subsidiaries acquire, explore and develop mineral properties in areas of Africa deemed to have relatively high potential for mining success and relatively low political risk. The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in Africa, initially focusing on exploration for diamonds in Botswana and Namibia, and gold in Mozambique. The Company has approximately 5,500 sq. km. of contiguous diamond licenses in Botswana and 6,200 sq. km. in Namibia, and is exploring for gold and metals in Mozambique under agreements with other companies. The Company was incorporated under the laws of the Province of British Columbia, Canada on April 30, 2008 and received the southern African net assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd. in June 2008.
African Queen Mines to raise CDN$1.2 mln in private placing
Norseman Gold plc African Queen Mines Ltd is planning to raise CDN$1.2 million before expenses in a private placing to institutional and private investors.
The company will offer a maximum of 4 million units priced at CAD$0.30 each, comprising 1 common share and 1 half-share purchase warrant, with each whole warrant allowing the subscriber to purchase 1 common share for two years from the date of closing at CAD$0.45 each.
The money raised will be used to accelerate work programs on the company’s gold projects in Mozambique as well as for potential property acquisitions and working capital.
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Other African Queen Mines articles
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19/10/09 African Queen in JV deal with Akan Exploration over Newmont’s Noyem-Nyafoman license in Ghana
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15/12/08 African Queen Mines' Sampling Yields G10 Garnets at Okavango Project in Botswana
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10/11/08 African Queen Mines– two diamond geezers on board
Other African Queen Mines news
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11/01/10 African Queen Mines eyes up drilling King Solomon Project, Mozambique
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15/12/09 African Queen to Close Private Placing On 21 December
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27/11/09 African Queen to raise up to C$3 mln in private placement to accelerate African gold projects
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14/10/09 African Queen says further samples from King Solomon in Mozambique confirm potential copper-gold-silver system
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17/09/09 African Queen Mines says samples from King Solomon in Mozambique indicate copper-gold-silver system
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25/05/09 African Queen Mines commences exploration at Fingoe Gold Project, Mozambique
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25/02/09 African Queen Mines shifting Mozambique gold focus to Fingoe Belt project
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28/10/08 African Queen Mines Chairman and CEO snaps up 2.8% of Company
