Japaul Gold and Ventures Plc says it has filed an application with the Securities and Exchange Commission to raise additional capital in the sum of N20 billion through special placements from identified investors.According to Japaul, the proceeds of the placement will be applied primarily to finance the expansion of the company’s minefields through the acquisitions and establishment of a gold refinery.assets for share exchange.
Japaul said the mining lease of H&H Mines Limited based on the competent person report confirms a gold reserve in excess of 20,000kg while Covenant Gems & Gold Minerals Limited minefields contain copper and mineable gold with 97 percent.
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