East Africa Metals announces that it has closed a non-brokered private placement, of shares in the amount CAD$500,000. The Company issued 3,333,333 common shares at a price of CAD$0.15 per share, for gross proceeds of CAD$500,000. The private placement involves an investment by a strategic investor, reflecting confidence in the Company's African assets and growth prospects. All securities issued will be subject to a [...]
East Africa Metals is pleased to announce the Company is currently working to develop a Memorandum of Understanding with JinJiu Hong Kong International Investment Ltd. for the development of the Magambazi mining project in Tanzania. In October 2020, the Company signed a Share Purchase Agreement and Gold Purchase Agreement an with a Tanzanian private company, PMM Mining Company Limited to develop the Magambazi mining [...]
East Africa Metals is pleased to announce that the Company's development partner Tibet Huayu Mining Co Ltd. has initiated the procurement process for heavy equipment required for the construction of the Adyabo Project's Mato Bula and Da Tambuk mines, located in the Tigray Regional State of Ethiopia. Equipment required for the mine construction and mining operations include drill rigs, excavators, trucks, loaders [...]
East Africa Metals Inc. has completed the negotiations of the Relocation Action Plan to allow the mine development activities to begin at the Mato Bula and Da Tambuk projects in the Tigray Regional State, Ethiopia. The completion of the RAP is a crucial step for mining projects in Ethiopia, a critical process to ensure that any displacement of communities and disruption of agricultural land is managed effectively and [...]
East Africa Metals Inc. is pleased to announce the Company has engaged Kluane Drilling Ltd. to advance the Mato Bula Extension drill program beginning with testing of the Halima Hill prospect. The Mato Bula Extension drill program will target prospective geology south of the known Mato Bula resource, as defined by an induced polarization anomaly representing the extension of the IP anomaly that defines the current known [...]
East Africa Metals Inc. and our development partner, Tibet Huayu Mining Co., Ltd. , are pleased to inform about the progress of our mine development plan, on the heels of receiving formal notification from the Ethiopian State Minister of Mines of the approval for extensions to the mine development period for the Mato Bula, Da Tambuk and Terakimti projects located in the Tigray region of the Federal Democratic Republic of [...]
East Africa Metals Inc. announces that it has closed the second tranche of its non-brokered private placement of units of the Company, as previously announced on March 3, April 5 and May 3, 2024. Due to increased demand, the Company increased the size of the Private Placement to a total gross proceeds of $1,086,000.00. In the second tranche the Company issued 10,360,000 units at a price of CAD$0.10 per unit, for gross [...]
East Africa Metals Inc. is pleased to announce it has received formal notification from the Ethiopian State Minister of Mines of the approval for an extension to the mine development period for the Mato Bula, Da Tambuk and Terakimti projects located in the Tigray region of the Federal Democratic Republic of Ethiopia. The extensions of these mine development periods resolve permitting issues that arose out of the regional [...]
East Africa Metals Inc. is pleased to update that the Company will continue to explore highly prospective areas in the immediate vicinity of the known Mato Bula Gold Copper and Da Tambuk Gold deposit areas. The contents of this disclosure outlines the Company's exploration strategy for assessing the areas through further targeted and staged exploration. This work will be concurrent with the initiation of mine development [...]
East Africa Metals Inc. are pleased to announce the development of the Mato Bula and Da Tambuk mines has been initiated. EAM's development partner, the Chinese company Tibet Huayu Mining Co., Ltd. , through its wholly owned subsidiary Silk Road Investments Co. Ltd., will bear 100% of the costs of mine construction. The mine development program is operated by the jointly owned company Tigray Resources Inc. . Once [...]
East Africa Metals Inc. is pleased to announce it has received confirmation from the Company's development partner, Tibet Huayu Mining Co., Ltd. that their Board of Directors has approved the initiation of mine development activity at the Mato Bula and Da Tambuk mines through their subsidiary Silk Road Investments Co. Limited . Tibet Huayu has based their decision to engage the development agenda based on information [...]
East Africa Metals Inc. announces the change in its financial year end from December 31 to March 31. The change in financial year-end has been made to align the timing of the Company's financial reporting obligations with the availability of the Company's service providers. The Company will file the interim financial statements for the 3 and 12 months ended December 31, 2022 on or before March 1, 2023, and audited [...]
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