Vantage International Sarl, a junior gold mining company, is pleased to announce its successful fundraising round with Tongguan Gold
— Rakesh Rajagopal, Co-founder and Managing Director
ANTANANARIVO, MADAGASCAR, July 31, 2023/EINPresswire.com/ — Vantage International Sarl, a junior gold mining company, is pleased to announce its plans for expansion following the arrangement of a debt fundraising round with Tongguan Gold Group Limited.
Among other things, the funds raised will be used to carry out a drilling programme with a view to completing a JORC or SAMREC compliant assessment.
Also, Vantage International will acquire the necessary equipment to initiate small-scale mining and processing of gold with the local community by hiring local people, marking the start of early production.
“We are excited about the opportunities this funding will bring,” said Dr. Prasannan Nediyedath, Founder / CEO of Vantage International. “Having completed the Environmental Impact Assessment and now commencing a drilling programme, we shall possess valuable data to guide our expansion efficiently and effectively. The acquisition of new equipment will also enable us to start early production, which is a significant milestone for our company.”
The debt funding shall be provided by Tongguan Gold Group Limited, a company incorporated in Bermuda. As part of the agreement, Vantage International shall pledged 100% of its shares as collateral. Tongguan Gold Group Limited will also have the right to acquire a certain equity stake in Vantage International.
Benny Pang, Co-founder / Chief Legal Counsel for Vantage International, added, “Our cooperation with Tongguan, a Hong Kong Stock Exchange Main Board listed company, carries multiple benefits. We are particularly excited about leveraging their expertise as a gold-focused organisation, their sterling compliance team, and their access to capital markets.”
Rakesh Rajagopal, Co-founder / Managing Director of Vantage, spoke about the company’s strategic objectives and its full commitment to ESG efforts in Madagascar. “Vantage International is committed to making a positive impact in Madagascar, a country with one of the lowest income per capita. Our plans include implementing social programmes for mining communities and working towards eliminating the widespread use of mercury in the small-scale gold mining industry by setting up gold buying stations/ leaching plans in the main mining districts and providing access to artisanal miners to sell to us at very fair prices.”
Vantage International Sarl is a private company registered in Madagascar, principally engaged in the exploration and mining of gold and related minerals. The company owns twenty blocks of licensed gold mining concessions located in the Antananarivo district of Madagascar.
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Article originally published on www.einpresswire.com as Vantage International Sarl Announces Successful Fundraising Round