Awalé Resources has closed a roughly $19 million strategic financing with Predictive Discovery and Fortuna Mining. The company issued 22,337,664 common shares at $0.85 per share for total gross proceeds of $18,987,000, with Predictive Discovery subscribing for $14,146,000 and Fortuna for $4,841,000. Following the placement, Awalé holds over $35 million in cash, while Newmont continues to fund the Odienné Joint Venture in Côte d'Ivoire. Predictive Discovery becomes the third strategic shareholder, joining Fortuna and Newmont, and now holds approximately 11.8% of the company, while Fortuna's stake rises to about 14.7%. Proceeds will primarily advance exploration on Awalé's 100%-owned properties within the Odienné Project.
Fortuna Silver Mines IncFortuna Mining invested $4.8M in Awalé, increasing its stake to 14.7%, signaling confidence.
Newmont Goldcorp CorpPredictive Discovery invested $14.1M in Awalé, becoming an 11.8% strategic shareholder.