– CANADA, Toronto – African Gold Group, Inc. (TSX: AGG) today announced that Stan Bharti has agreed to join the Company as Chairman and CEO on a permanent basis. Previously Mr. Bharti was acting as Interim Chief Executive Officer.
Mr. Bharti successfully predicted the gold market and gold-stock run-up in the mid-nineties and again in 2003. “I believe the gold sector and, in particular, gold stocks are going to have a run with indices and metal prices higher than during the last cycle. Gold prices have strengthened over the past several months and I believe this is just the start of a strong gold market and junior gold stocks will outperform. It feels like we are in 2003 again, at the cusp of a great run in gold and gold stocks,” Mr. Bharti notes.
“African Gold Group has all the ingredients to become a successful gold producer and developer. The Kobada Project 100% owned by AGG and located in Southern Mali, is fully permitted with a feasibility study. With the current large resource covering less than 25% of the Kobada property, there is strong potential to expand the current resource. Mali is Africa’s third-largest gold producer and has a stable political environment for the mining industry. Our goal is to build AGG into a mid-tier African gold producer within the next two years.”
Further Mr. Bharti noted that “We have been in Mali and West Africa for many years. The Tabakoto mine, which was owned and operated by Avion Resources, was started by our team and sold to Endeavour Mining in 2012. The Tabakoto mine remains in operation today. We believe that the Kobada mine is more advanced than Tabakoto was when it was acquired, and, we believe, has excellent upside potential.”
“I have always acquired undervalued assets in emerging markets. This gives our shareholders the best potential for positive returns. AGG fits in that category very well. With the recent injection of almost $3 million in equity capital, we are now ready to update the current feasibility study and aim to start construction in 2020.”
Mr. Bharti intends to leverage his track record of attracting top tier management and operational professionals, to build a strong team to support his efforts over the coming months. Mr. Bharti commented, “Once the team is in place, we will be ready to rapidly take this asset to the next level in one of the most bullish gold environments I have seen in my long mining career.”
About African Gold Group Inc.
African Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali.
For more information: http://www.africangoldgroup.com
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