Waraba Gold Ltd Stock Price, News & Analysis

Waraba Gold (WARAF) has issued a correction to its March 25, 2025 release regarding its Ivory Coast operations. The company clarifies that the previously mentioned 'Tiegba' license was erroneously included and should be disregarded.

The corrected earn-in agreement details with Somaco include:

• Waraba can earn up to 80% stake in Somaco over 4 years
• Initial payment of US$500,000 within two months
• Additional US$1.5 million payment over following 2 years
• US$5 million in exploration commitments over 4 years
• Issuance of 6 million common shares upon JVA signing

Somaco holds two pending gold license applications in northern Ivory Coast: The Sirasso License (369.34 km²) along the Senoufou greenstone belt, and the Tengrela License (398.7 km²) near the Syama mineralized shear zone. The vendors will retain a 2% net smelter return royalty on the licenses.

Waraba Gold (WARAF) has announced key strategic moves, including an earn-in agreement to acquire up to 80% of Somaco Global Resources SARL in Ivory Coast. The deal involves two prospective gold license applications: the Sirasso License (369.34 km²) near Barrick Gold's Tongon mine, and the Tengrela & Tiegba Licenses (767.67 km² combined) in strategic locations.

The earn-in terms include:

• Initial payment of US$500,000 within two months
• Additional US$1.5 million over 2 years
• US$5 million in exploration commitments over 4 years
• Issuance of 6 million common shares upon JVA signing

Additionally, the company plans to raise US$500,000 through non-convertible unsecured debentures maturing in 12 months. Operations at the Fokolore Gold Project in Mali have been suspended due to security concerns, though the company previously submitted a mining permit application in June 2024.

Waraba Gold (CSE: WBGD) (FSE: ZE0) (OTC Pink: WARAF) has announced the continuation of its drilling program at the Fokolore Gold Project in western Mali, West Africa. The company is transitioning from reverse circulation (RC) drilling to diamond core drilling for the next part of its Phase 1 campaign.

This transition follows initial results announced on August 7, 2024, which provided significant geological and structural insights into the mineralized zones. The diamond core drilling technique allows for the recovery of more detailed geological information, important for understanding mineralization and structural controls within the deposit.

The new drilling phase aims to systematically define the extent and grade of gold mineralization, targeting both known zones and exploring new areas within the Fokolore Project. This approach is expected to provide higher-quality samples and enable a more comprehensive analysis of the mineralized zones, expanding Waraba's understanding of the mineralized system.

Waraba Gold (CSE: WBGD) has announced initial results from its 2024 Phase 1 reverse circulation (RC) drill program at the Fokolore Gold Project in western Mali. Key highlights include:

• 13 RC drill holes completed, totaling 1369 meters
• 1369 RC drill samples collected
• Significant gold intercepts from the Mamoudouya Target, including:
• 7 m of 2.80 g/t Au from 13 m, including 2 m of 8.36 g/t Au
• 4 m of 3.19 g/t Au from 28 m, including 1 m of 11.77 g/t Au
• 3 m of 3.73 g/t Au from 57 m, including 1 m of 7.98 g/t Au

The drilling program aims to expand the potential exploration target from 2.3 km to 3.5 km along strike. Drilling is ongoing, with plans for Phase 2 and 3 to follow.

Waraba Gold (CSE: WBGD) (FSE: ZE0) (OTC Pink: WARAF) has announced a significant change in its leadership team. Effective August 2, 2024, Mr. Carl Esprey has stepped down from his role as interim Chief Financial Officer. The company has appointed Mr. José Teixeira as the new Chief Financial Officer and a member of the board of directors. Carl Esprey, who remains a director of the company, expressed his satisfaction with Mr. Teixeira's appointment to the Board. This management change marks a new chapter for Waraba Gold , potentially bringing fresh perspectives and expertise to the company's financial leadership and strategic direction.

Waraba Gold (CSE: WBGD, FSE: ZE0, OTC Pink: WARAF) has concluded a non-brokered private placement of common shares, raising $777,726. The placement issued up to 13,429,900 common shares at a price of $0.03 each. The funds will be utilized for exploration and general working capital. The issued shares will be under a statutory hold period of four months and one day from the issuance date.

Waraba Gold announced the commencement of a new drilling campaign at its Fokolore Gold Project in West Mali, West Africa. This marks 'Phase 1' of a three-phase program designed to extend the strike length of historic high-grade gold mineralization. During this phase, Waraba aims to carry out 76 reverse circulation drill holes, averaging 120 meters in depth, and 2,350 meters of rotary air blast drilling. 'Phase 2' and 'Phase 3' will follow based on initial results, with the potential for 20,000 meters of RC drilling and 2,000 meters of diamond core drilling. The first phase is expected to be completed in four to six weeks, with results announced as they become available.