The following information is filed pursuant to the provisions listed above under the applicable securities legislation:
1. Name and address of the offeror:
Georges Cohen (the “Offeror”)
56, route de Vandoeuvres
Vandoeuvres, CH-1253 Suisse
2. The designation and number or principal amount of securities and the offeror’s security holding percentage in the class of securities of which the offeror acquired ownership or control in the transaction or occurrence giving rise to the reporting obligation, and whether it was ownership or control that was acquired in those circumstances:
The Offeror has acquired ownership and control of 25,270,000 units of Africa Gold Group, Inc. (the “Company”) under a private placement, with each unit consisting of one common share and one-half (½) common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company for a period of twenty-four (24) months at a price of: (i) $0.075 per common share for the first six (6) months and (ii) $0.10 per common share thereafter until the expiry date of the warrant. This acquisition represents 11.18% of the Company’s currently outstanding common shares, and 15.89% of the Company’s common shares on a partially diluted basis assuming full exercise of the warrants.
Toronto, Ontario -- (November 25, 2014) – African Gold Group, Inc. (TSX-V: AGG) ("African Gold Group" or the "Company") is pleased to announce the completion of a Scoping Study and Updated Preliminary Economic Assessment (PEA) for the Kobada Gold Project, located in Mali, West Africa.
HIGHLIGHTS: LOW CAPITAL AND OPERATING COSTS FOR SCALABLE GOLD PRODUCTION
Toronto, Ontario -- (October 29, 2014) – African Gold Group, Inc. (TSX VENTURE: AGG) ("African Gold Group" or the "Company") is pleased to provide an update of ongoing work for the Kobada Gold Project Feasibility Study.
AGG has received results from metallurgical test work being completed by Gekko Systems in Australia. The results exceed AGG’s expectations for processing the Kobada saprolite ore and include:
Work is also continuing in Mali with environmental studies progressing to support all permitting requirements. AGG has also been identifying and negotiating with construction and mining contractors in order to tightly define all costs for the Project.
The results from testwork and cost estimation will now be used for the compilation of the Scoping Study and Preliminary Economic Assessment. The results of this study are expected prior to the end of 2014.
African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the metallic assay results for an additional 23 diamond drill holes from AGG's Kobada, Mali gold project.
For coherence, the results from the 23 diamond drill holes have been organized according to the section the hole was drilled on as opposed to numerical order and are depicted in Table 1 below. Please see the attached map for the collar locations and trace of each hole and the respective section the holes were drilled on.
African Gold Group, Inc. (TSX VENTURE:AGG) ("AGG" or the "Company") is pleased to report on the progress of its feasibility study for its Kobada Gold Project, located in southern Mali, which is on schedule and anticipated to be delivered prior to the end of 2014.
The Company has further strengthened its feasibility study and mine development team with the appointment of Mr. Torben Michalsen as "Project Infrastructure & Logistics Manager", effective July 11, 2014.
Mr. Michalsen will be responsible for infrastructure and logistics activities relating to the construction, commissioning and project operation at the Kobada gold project.
Mr. Michalsen, is an accomplished project management professional with over 15 years experience managing logistics, resource management and construction in a variety of resource industries spanning three continents. Most recently, Mr. Michalsen was Project Manager at Guyana Goldfields where he was responsible for project implementation, management and development of infrastructure for the Aurora gold mine in Guyana South America. Prior to that, Torben was Forest Operations Supervisor and Manager for several forest management and wood industries companies. Mr. Michalsen has a BSc in Geoscience and Resource Management from the University of Copenhagen.
African Gold Group, Inc. (TSX VENTURE:AGG) ("AGG" or the "Company") is pleased to announce the completion of drilling for the 2014 field season at Kobada, Mali. This body of work has resulted in the successful collection of over 2.4 tonnes of lateritic and saprolitic material that is representative of the Kobada ore types.
The final drilling was completed subsequent to the incident that was reported in the Company's press release of July 9, 2014. AGG wishes to acknowledge the continuing support of the Government of Mali and their ongoing efforts to curtail illegal mining activity, throughout the entire country, during the rainy season, in accordance with Mali law. This support has allowed the Company to continue its planned work program through to completion.
Officials representing the Canadian Embassy in Mali continue to be most helpful in providing the Company with advice and support, as well as, intervening at the highest levels of the Mali Government on the Company's behalf. AGG wishes to express its gratitude for the continuing initiatives.
Importantly, 1.8 tonnes of sample material has been air-freighted to Australia for the commencement of metallurgical testwork. The balance of the material is being stored in Mali pending initial results of the testwork. The remainder of the sample material, which is packaged and ready for transport, will be sent to Australia via air-freight, should additional material be required.
African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the final results for the bulk sampling program at its wholly-owned Kobada Gold Project in Mali, West Africa. The program was designed to emulate the Kobada deposit from surface through to bedrock.
African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the analytical results for the first 50 bulk metallurgical test samples that were comprised of composites of reverse circulation (“RC”) drill intervals that were specifically selected to emulate the Kobada deposit, from surface down through to fresh bedrock.
Each bulk sample consisted of drill cuttings from one or more RC drill holes, within a specific horizon or layer of mineralization emanating from drill intervals that ranged between 30 to 50 meters in length and weighed between 0.8 up to 1.5 metric tonnes.
Average calculated gold grades of the 50 individual bulk composite samples, processed through the gravimetric pilot plant, yielded gold grades 65% higher than the average given gold grade, based on 2 kg Leachwell analysis, from the identical drill interval.
28 of the 50 bulk composite samples were classified as waste, averaging 0.085 g/t Au, based on 2 kg leachwell analysis, of the drilled interval(s). The calculated average grade of the bulk samples processed through the gravimetric pilot plant, for the identical drill interval(s), averaged 0.299 g/t Au, representing a 252% increase in gold content from the identical drill interval(s).
Pilot plant test results continue to confirm that increasing “sample support” (volume of material) and “aliquot” (the actual amount of material analyzed) is highly beneficial for improving the overall grade of mineralization of the Kobada deposit, a characteristic of the “nugget effect.”
Pilot plant test results continue to confirm that a Bulk Mining model applies to Kobada and that all material contained within the (mineralized) structural corridor is envisioned to be processed through a gravimetric gold recovery plant – including material that is defined as waste, based on drill sample support and Leachwell analysis.
TORONTO, CANADA, January 29, 2014 – African Gold Group, Inc., ("AGG" or the "Company") is pleased to report that local artisanal miners have discovered a one kilogram gold nugget at the Company’s Kobada, Mali gold project.
AGG geologists, on site at Kobada, Mali, have recorded the UTM coordinates of the discovery at 54591E, 1289982N in the vicinity of Section 800 South of the Zone 1 deposit.
Of note, on February 26, 2008 the Company similarly announced the discovery of a 2.7 Kilogram gold nugget at Kobada, Mali. AGG geologists recorded the UTM coordinates of this discovery at 543261E, 1290951N.
While the 1 kilogram nugget was discovered within the Zone 1 deposit, the location of the discovery of the 2.7 kilogram gold nugget is a considerable distance from the site of any work undertaken by AGG and speaks to the general prospective nature of the overall Kobada concession.
AGG geologists describe both gold nuggets as being "local." These factors are indicative of the nuggets not having travelled very far from their respective points of origin. It is hypothesized that the gold nuggets were weathered out of a quartz-carbonate vein.