Avalon Investment Holdings Ltd.
Avalon Investment Holdings Ltd, through its wholly owned subsidiary, holds a 100-per-cent interest in a newly issued prospecting licence in Guyana, which covers 4,590 acres of licensed area, including the site of the past-producing Omai gold mine. The Omai gold mine produced 3.7 million ounces of gold by open pit mining at an average grade of 1.6 g/t prior to closure in 2005 by Iamgold Corp. Substantial exploration potential remains outside of the original pit boundaries due to a low gold price.
Avalon Investment Holdings Announces Closing of First Tranche of Private Placement Aggregate Gross Proceeds of US$3,314,857
Toronto, Ontario--(Newsfile Corp. - January 14, 2020) - Avalon Investment Holdings Ltd ("Avalon") the holder of 100% interest in the Omai Gold Mine in Guyana, through a wholly owned subsidiary, is pleased to announce that it has raised gross proceeds of US$3,314,857 as the first tranche of its US$4,400,000 ...2020-01-14 8:00 AM ET