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Desmond lends $830,000 to African Gold Acquisition

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Dermot Desmond has loaned $830,000 to the US-based African Gold Acquisition Corporation, in which he is a major shareholder, the firm has announced.

In a stock market update, the company said that Desmond’s loan would be used “to fund working capital deficiencies and in connection with its efforts to consummate an initial business combination”.

African Gold Acquisition, which is seeking to buy gold mines, was founded as a blank cheque company, meaning that it has ...

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