So, get this – Japaul Gold and Ventures Plc is looking to raise a whopping N20 billion to level up their game! They’ve gone ahead and filed an application with the Securities and Exchange Commission (SEC) to get this cash from some big-shot investors. This news was dropped on the Nigerian Exchange Limited (NGX) just the other day.
Now, here’s the plan for all that moolah – Japaul Gold is all set to use it to expand their minefields and get their hands on a gold refinery. And guess what? They’re not stopping there. They’re eyeing a 50 percent stake in H&H Mines and a full-on acquisition of Covenant Gems & Gold Minerals Limited in Eti-oni, Atakumosa Local Government, Osun State. And get this – it’s all about swapping assets for shares. Plus, they’re going all in on setting up a gold refinery to make sure they’re raking in the big bucks.
According to Michael Edeko, the company’s secretary, this move is all about making Japaul Gold a major player in the mining game. They’re looking to take the lead in the mining sector and really make a mark.
And here’s the kicker – H&H Mines Limited has a gold reserve of over 20,000kg, and Covenant Gems & Gold Minerals Limited has some serious copper and mineable gold, like 97 percent serious. That’s some serious bling, if you ask me!