Why is our German friends saying it’s not far from Manono? Not exactly in Manono as claimed.
Gute Kooperation mit Regierung: AJN Resources: Junger Gold- und Lithiumexplorer im Kongo nimmt Fahrt auf
Anzeige / WerbungDer deutsche Geologe Klaus Eckhof genießt hohes Vertrauen bei den kongolesischen Regierungsbehörden. Alle Rohstoff-Claims befinden sich in besten Lagen. Die Gold-Claims unweit Kibali;www.finanznachrichten.de
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02.11.2022 | 09:33
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Good cooperation with government: AJN Resources: Young gold and lithium explorer in the Congo is picking up speed
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The German geologist Klaus Eckhof enjoys a high level of trust among the Congolese government authorities. All commodity claims are in prime locations. The gold claims near Kibali; the lithium claim not far from Manono.
The Congolese government will shortly bring 21 attractive gold projects and a lithium deposit to AJN Resources Inc. (TSX-V: AJN, FSE: 5AT) through an already incorporated company. Thereafter, the Congo Government will hold 60 percent of all AJN common stock and together with AJN management will seek to advance the projects and repeat the great achievements of Moto-Goldmines and AVZ Minerals.
Good things come to those who wait is a well-known German proverb. It describes very well what has happened at AJN Resources this year. As early as February 8, 2022, the company announced that it had signed a letter of intent with the government of the Democratic Republic of the Congo. It was officially confirmed on April 19, 2022.
General information, chart and videos about AJN Resources and other resource/technology companies at:
After that, it seemed to outsiders that AJN Resources and its activities had become quite quiet. However, the details of the two agreements were being worked on diligently behind the scenes. They have been completed in the meantime and the result is impressive both from the point of view of the shareholders of AJN Resources and from the point of view of the Congo government, because numerous very promising exploration properties have been bundled in a new company.
Congo Resources will soon become a 100% subsidiary of AJN Resources
The new company is called Congo Resources SAU. It will shortly receive 22 Exploration Permit Applications. Located in the east of the country, they cover 6,278 mining squares and an area of 5,398 km². The bulk of the applications, 21 in total, concern gold deposits and relate to the Kilo Moto gold belt. The 22nd permit is for a lithium occurrence in the Manono region.
Official event in Congo.
Klaus Eckhof's good relations with the Congolese government are paying off again.
In the past few weeks, the Congo government has authorized the mining register to accept the 22 new applications. As soon as the land registry office has approved the applications, the now fully founded Congo Resources SAU can start its work. However, it will not operate independently, but will operate as a 100% subsidiary of AJN Resources.
To this end, AJN Resources will transfer 60 percent of its ordinary shares to the Congolese state following capital increases that have yet to be carried out. This ensures that the country's promising gold projects cannot fall into foreign hands without the government of the Congo having a say.
AJN Resources will soon have an extremely attractive project portfolio
It speaks for AJN Resources and in particular its CEO and President, Klaus Eckhof, that the government of the Congo not only wants to bundle the important and particularly promising gold projects in the north-east of the Congo in one hand, but entrusts the development of these properties to AJN Resources.
AJN itself is still a young company and hardly any investor has this inconspicuous caterpillar, which could soon turn into a butterfly, on their radar. But government circles have not forgotten the great successes that Klaus Eckhof has achieved in the Congo over the past two decades. AJN on the ball on numerous gold claims; many of them not far from the legendary Kibali gold mine.
The development of the Kilo-Moto gold mine, acquired by Randgold in 2009 and now part of Barrick Gold through Randgold's merger with Barrick Gold, established its legendary reputation in the country. The project was acquired in late 2003 and has subsequently outlined over 20 million ounces of gold in just four years of exploration. They quickly attracted interest from Randgold Resources, which eventually not only led to Randgold's acquisition of Moto-Goldmines, but also significantly made Randgold the attractive company that merged with Barrick Gold in 2018.
In southern Congo, Klaus Eckhof, founder and former Executive Chairman of AVZ Minerals, also developed the Manono Project. LCT (lithium, cesium, tantalum) pegmatite deposits have been discovered on it. Their exploration has progressed so far in recent years that the Manono project has now grown into one of the largest lithium projects in the world.
Alphamin Resources' Mpama North mine also operates in northern Congo. This project, also discovered by Klaus Eckhof, not only represents a classic high-grade, low-cost producer, but with its annual production of around 10,000 tons of tin now also accounts for around three percent of global tin production.
No raw material project can succeed without the trust and goodwill of the local population
AJN Resources wants to continue this success story.
A continuation of this success story is not only possible, but planned. If it were otherwise, the government of the Congo would not have bundled 22 interesting mining projects in the country in the Congo Resources SAU and, secondly, would not have brought them into AJN Resources, but organized a management team and started exploration independently of AJN Resources.
However, the government of the Congo does not want to work with just anyone, but has made a conscious decision to cooperate with Klaus Eckhof. The same applies to all those investors who will participate in the forthcoming financing of AJN Resources. These investors also know that they will only be minority shareholders due to the state's 60% stake in AJN Resources, but they also make a conscious decision to work with Klaus Eckhof.
Investors entering AJN Resources invest in gold and lithium
How extensive the capital increases at AJN Resources will be will be determined by the forthcoming due diligence reviews for the projects brought in. However, two things are already certain: the Congolese state will hold 60 percent of all ordinary shares after all transactions have been completed and all shareholders, whether state or private, are focusing on the topics of gold/inflation and lithium/electromobility with their commitment to AJN Resources.
The gold properties are all located in northeastern Congo. The particularly attractive and promising projects include Wanga, Rambi, Gada and Nizi, as well as ten other exploration licenses in the Kilo Moto belt. The Company's lithium focus will also develop to the east but significantly further south as the Congo government has agreed to support the granting of a lithium license to Congo Resources SAU. It includes part of the Manono pegmatite.
AJN's lithium project is also in a truly prime location near the Manono lithium deposit.
Final preparations, then a win-win situation starts for everyone involved
In the coming weeks, the state will take further coordination measures to ensure the smooth issuance of the lithium license. The Congolese state will probably also want to participate in the further capital increases that will be necessary over time, because the government of the Congo has secured a right of first refusal for all capital measures to be carried out in the future.
This right only makes sense if the Congolese state wants to remain the company's main shareholder. Upon closing of the transaction, AJN Resources will be led by five directors. Two of them, including the vice-chairman, will be appointed by the state.
The chosen procedure offers advantages for everyone involved, because it creates a classic win-win situation. The state benefits from the fact that the gold projects it has brought into the company are finally being vigorously developed, and private investors also benefit from the state's participation, because they know that the state also has an increased interest in turning the properties into producing mines because the overriding goal of the government is long-term secure jobs for the local population and high, ongoing income from taxes and mining operations for itself.
Investors looking for further investments in the fields of gold and lithium can therefore only be strongly recommended to deal with AJN Resources, because there is not only the possibility that Klaus Eckhof will repeat his great successes in the Congo, but also at the same time the danger that investors only become aware of the company long after the train has left AJN Resources. Therefore, an early involvement with the company is only recommended to every interested commodity investor.
The German geologist Klaus Eckhof enjoys a high level of trust among the Congolese government authorities. All commodity claims are in prime locations. The gold claims near Kibali; the lithium claim not far from Manono.
