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Amani raises A$25m for DRC project

ASX-listed Amani Gold will raise A$25-million through a share placement to fund drilling and metallurgical test work for feasibility studies at its Kebigada project, in the Democratic Republic of Congo (DRC).

Amani on Wednesday said that it has entered into a non-binding memorandum of unsterstanding to issue 500-million shares, at a price of 5c each, as well as 250-million free attaching options, exercisable at 7c each within a two-year term.