Australia-based company, Azimuth Resources Ltd has secured US$6 million to continue its resource expansion and prospect drilling at its West Omai gold project in Guyana, even as the global demand for gold remains high.
A press release from the Ministry of Natural Resources and the Environment said that the company’s newly-appointed Chief Operations Officer, Azimuth Resources Ltd, Paul Criddle made the disclosure during a meeting yesterday with Minister of Natural Resources and the Environment Robert Persaud while in discussions on the company’s plans for investment in Guyana’s mining sector.
Criddle explained that the additional capital will provide funds to significantly push work programmes at the company’s gold exploration projects here and it also provides working capital and financial security for the company in a turbulent global economic environment.
Minister Persaud welcomed the company’s expansion programme and assured that government will continue its support for small and medium scale mining in Guyana, the release added.
