Amani Gold Limited
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Amani Gold Limited (ANL, formerly Burey Gold Limited) is an Australian-based exploration company with a focus on identifying and evaluating gold and uranium. ANL is targeting exploration at its flagship project, the Giro Gold Project. Amani Gold Limited is a limited liability company that is incorporated and domiciled in Australia.
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Metals & Mining
What does Amani Gold Limited (ANL) do and how does it earn money?
Amani money comes from gold. Headquartered in West Perth, Amani Gold (ANL) is an explorer, developer and acquirer of precious metals and minerals in the Democratic Republic of Congo (ROC). The company is primarily focused on finding large gold deposits.
Amani Gold’s current flagship operation is The Giro Gold Project, which is comprised of two exploration permits covering an area of 497 square kilometres within the Kilo-Moto Belt of the ROC. Within The Giro Gold Project, Amani Gold is at work on two prospective deposits, Kebigada and Douze Match.
To earn some revenue while exploring, Amani Gold secured a Gold Dealer Licence in Tanzania via a 60% equity interest in Amago Trading in November 2019. Amago Trading is a Tanzanian company that sources gold from Geitan artisanal miners, smelts it and transports it to Hong Kong for further refinement and eventually sales.
Is Amani Gold a profitable company?
No, Amani Gold is not profitable at this time. The company has recorded a net loss every year since FY2012 except in FY2017 when net income came in at A$245k.
In FY2019, FY2020 and FY2021, Amani Gold recorded net losses of A$18.96m, A$2.25m and A$3.42m, respectively.
In its FY2022 half-yearly report, the company informed investors that to continue operations, it undertook a private placement in September 2021 “to raise $5,250,000 before costs from sophisticated and professional investors through the issue of 5,250,000,000 shares at an issue price of $0.001 per share.”
Is ANL stock a buy?
Some investors believe ANL stock is a buy at this time.
The company confirmed the discovery of broad gold mineralisation zones in drill hole GRDD036 in February 2022 and drill hole GRDD037 in April 2022 at Kebigada. Upon the discovery at GRDD036, Executive Chairman Klaus Eckhof commented:
“The results of GRDD036 are very promising and we look forward to the assay results for the final 76.16m.”
Despite promising signs, some investors aren’t convinced as there’s no certainty the company will find gold any time soon. Weak financials are also a turn-off for many investors as is the company’s history of raising equity capital to continue operations.
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Does ANL stock pay dividends?
ANL stock has no history of paying out dividends.
In FY2021, Amani Gold’s directors recommended against paying dividends due to consolidated losses after tax.
Who owns ANL stock?
The general public owns the majority of ANL stock at 81% of the total float. Individual insiders come second at 11.9% ownership.
Some of ANL’s top stockholders include Executive Chairman and Managing Director Klaus Eckhof (4.31%), former Non-Executive Director Maohuai Cong (3.6%), Luck Winner Investment Limited (2.59%), Jean Allegret (1.47%), Notre Dame Investments Limited (1.47%) and Euroclear PLC, Asset Management Arm (1.27%).
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This does not constitute financial advice. You should do your own research before making an investment decision. Past performance is not a reliable indication of future performance. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.
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