East Africa Metals Inc. would like to provide an update on the ongoing exploration of its gold and gold/copper/zinc projects in the Ethiopia. After productive meetings with government officials in Addis Ababa last week, the Company is looking to building on the success achieved over the past ten years through the Company's investment of approximately $30,000,000 in exploration with the support of the Ministry of Mines and [...]
East Africa Metals Inc. is pleased to announce that further to its press release dated January 27, 2021, the Company has received the following update from its Tanzanian partner, PMM Mining Company. Start-up of the tailings re-processing has begun, on schedule. In January, PMM Mining informed EAM it had completed an engineering and metallurgical assessment of a plan to re-process existing tailings from illegal mining [...]
East Africa Metals Inc. would like to provide an update on the ongoing exploration/development of its gold and gold/copper/zinc projects in the Ethiopia. EAM has completed planning and received government approval for C$2.7M, Phase 1 exploration program that will include 8,000m of diamond drilling, 115 line kilometers of geophysical surveys, environmental, metallurgical studies and resource calculations/updates. The [...]
East Africa Metals Inc. is pleased to announce that further to its press release dated October 22, 2020, it has received the following update from its Tanzanian partner, PMM Mining Company. PMM Mining has informed EAM it has engaged development of a plan to re-process existing tailings from artisanal mining activities that took place between 2007 and 2016 at the Magambazi site, during which time large, active artisanal [...]
East Africa Metals Inc. is pleased to provide an update on the status of development programs on the Company's Ethiopia projects. EAM currently has three approved Mining Agreements with Ethiopia's Ministry of Mines and Petroleum . The Terakimti Oxide deposit Mining License has been issued and the Mining Agreements for the Mato Bula and Da Tambuk deposits have been approved and licenses issued . For the additional [...]
East Africa Metals Inc. announces voting results from its Annual Meeting of Shareholders held today in Vancouver. A total of 31,897,876 million common shares, representing approximately 17.28% of the Company's issued and outstanding common shares were voted in connection with the meeting. East Africa shareholders voted overwhelmingly in favor of all items of business, including the election of each director nominee as [...]
East Africa Metals Inc. is pleased to announce that, further to it's press release dated October 22, 2020, it has received formal consent from the government of Tanzania, approving the Magambazi gold stream transaction with Tanzanian partner PMM Mining Company Limited . The wire transfer of USD2.0M property payment has been made. The Magambazi Transaction: The consideration for the transaction includes: PMM has paid to [...]
East Africa Metals Inc. is pleased to announce Company management is advancing discussions with potential mining partners for the development and operation of the Harvest Copper-Gold VMS Project in Ethiopia. The Company currently owns 70% of Harvest Mining PLC through its wholly-owned subsidiary, Tigray Ethiopia Holdings Inc.. Harvest holds the Terakimti Mining License including the Terakimti Oxide deposit and the [...]
East Africa Metals Inc. is pleased to announce that subject to the approval of the Fair Competition Commission of Tanzania, the Company is expected to sign a binding Share Purchase Agreement and Gold Purchase Agreement with an arm's length Tanzanian private company, PMM Mining Company Limited , to develop the Magambazi Mine in Tanzania. Highlights: Government mandated mediation to resolve the current legal issues in [...]
East Africa Metals Inc. announces that SinoTech Corporation Limited, an insider of the Company, has agreed to provide an unsecured loan to the Company in the amount of CAD$250,000 at an interest rate of 12% per annum. The loan is repayable upon the earlier of 15 business days after the Company's closing of any financing or transaction in connection with the development of the Company's Harvest project ; or 6 months from [...]
East Africa Metals Inc. announces that due to circumstances created by the COVID 19 pandemic, it will not be filing its annual financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the financial year ended December 31, 2019 by the scheduled due date of April 29, 2020, as required by National Instrument 51-102. BC Instrument 51-515 provides issuers with an [...]
East Africa Metals Inc. is pleased to announce that it has reached agreement with Hong Kong-based Sino Union Energy Group Limited on a binding letter of intent to acquire a majority ownership stake in the Harvest Project currently held by EAM's wholly owned subsidiary, Tigray Ethiopia Holdings Inc. . TEHI holds a 70% interest in Harvest Mining PLC. with Ezana Mining Development PLC. Harvest Mining PLC owns 100% of the [...]
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