Avanti Gold, a Canada-listed mining company, has announced the appointment of Sir Samuel Jonah as Director and Chairperson, as the company embarks on exploration ventures in Botswana. This move comes at a pivotal time for Avanti as it expands its reach into newly acquired prospective terrain.
Sir Samuel Jonah brings a wealth of experience to Avanti Gold, particularly from his notable contributions to the mining sector in Africa. As the former president of gold miner AngloGold Ashanti, he played a key role in transforming the company into a mining multinational. Under his leadership, AngloGold Ashanti significantly increased its gold production, from 240,000 ounces per year to over 1.6 million ounces annually within a decade, before merging with Ashanti Goldfields Corporation.
Jonah’s expertise extends beyond AngloGold Ashanti, as he has served on the boards of various prominent companies, including Moto Gold Mines, Vodafone Group, Standard Bank Group, Roscan Gold, and Bank of America Corporation’s Global Advisory Council. He currently holds the position of Chairperson at telecoms infrastructure company Helios Towers.
Notably, Jonah was instrumental in the listing of Ashanti Goldfields on the New York Stock Exchange, making it the first operating African company to be listed on the exchange. Additionally, he played a pivotal role in the success of Uramin, guiding the junior mining company to become a major uranium producer, eventually sold for $2.4 billion in less than two years.
In recognition of his outstanding achievements, Jonah was knighted in the twenty-first century, becoming the first Ghanaian to receive an honorary knighthood. His contributions to engineering in the African mineral industry led to his election as a foreign member of the US National Academy of Engineering in 2018.
Meanwhile, Avanti Gold has entered into a share exchange agreement with MTM, a Seychelles-based company. This agreement aims to acquire all outstanding share capital of MTM, which holds rights to prospecting gold licences in Botswana’s District of Molopo. The licences cover an area of approximately 90 hectares within the highly prospective Kraaipan Granite-Greenstone Belt.
As part of the agreement, Avanti will issue 29 million common shares to MTM shareholders, facilitating the acquisition. This transaction will not constitute a fundamental change for Avanti or result in a change of control.
In addition to its ventures in Botswana, Avanti Gold is actively developing the tier-one gold asset, Misisi, located in the Democratic Republic of Congo’s South Kovu province. The project boasts a contained inferred mineral resource of three million ounces of gold.
Avanti’s strategic moves, coupled with the appointment of Sir Samuel Jonah, signal a significant step forward in the company’s expansion and commitment to unlocking value in Africa’s rich mining landscape.
