A recent financing initiated by Etruscan Enterprises (EET-V) is expected to provide proceeds of $7 million for exploration programs at the company’s gold properties in Niger.
The company plans to use about $4 million of the net proceeds to fund exploration and development of the Taiwa gold concession there. Etruscan holds 50% of an African company that owns the concession.
The remaining proceeds will be used to explore other parts of Niger, and for working capital and corporate purposes.
A feasibility study is in progress for the Koma Bangou gold concession in Niger.
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