Dear shareholders and Investors,
The new year kicked off in a very favorable way for Stellar Africagold as we were invited by our Morocco based “earn-in partner” ONHYM (Office National des Hydrocarbures et des Mines) to an official signature ceremony for the renewal of our ‘earn-in’ agreement on January 28th, 2025.
The new agreement calls for exploration expenditures totaling US$2,239,000 (approximately C$3,500,000) over 3 years to earn an 85% interest in the permits group. Upon completion of the earn-in ONHYM will retain a 15% free carried interest and a 3 % Net Smelter Return royalty.
This is an essential piece of the puzzle which will trigger almost immediately some site work to better delineate the mineralized diorite intrusions as well as the shear zone that had been previously identified at our TICHKA EST project in the High Atlas Mountain Range region. That also triggered the appointment of Dr. Paul Kitto to our Board of Directors just one week later and this certainly had a positive effect on the investors who visited our booth at the 121 Mining Investment Event in Cape Town concurrently with the INDABA conference earlier this month.
In parallel to these events which were essentially derived from our Morocco activities, we recently concluded a ‘Stream Sediments Campaign’ at our wholly owned ZUENOULA project in Côte d’Ivoire. Results and final report are still pending but our intent is to keep this permit in good standing with the local Ivorian authorities, so it fully deserves our full attention just as well.
On the back of these recent events, Stellar Africagold held its AGM (Annual General Meeting) on Feb.27th and took advantage of this event to appoint 2 new Board of Directors members following the decision of one Board member to not stand for re-election.
We launched a fundraising campaign just around that time and should be in a position to close this private placement very shortly and immediately thereafter initiate some sitework on the Tichka project before kicking into higher gear for the quarter of 2025.
J.François Lalonde
President & CEO
J.François Lalonde
B.Sc. Civil. Engineering
PRESIDENT AND CHIEF
EXECUTIF OFFICER