Cash Runway Under One Quarter Despite $16M Boost—Can African Gold Sustain Momentum?

Exploration Momentum at Blaffo Guetto

African Gold Limited (ASX – A1G) has delivered a strong exploration update for the September 2025 quarter, with drilling at its flagship Blaffo Guetto prospect in Côte d’Ivoire confirming consistent, high-grade gold mineralisation. Key intercepts include 16 metres at 13.2 grams per tonne gold from 197 metres depth, alongside several other significant intervals that validate the structural model and support eastward resource growth. This follows the June 2025 Mineral Resource Estimate that reported nearly 1 million ounces of inferred gold at an average grade of 2.5 g/t within 12.4 million tonnes.

The ongoing >40,000-metre drilling campaign aims to materially expand the resource footprint, with results so far reinforcing the scale and grade potential of the project. The company’s methodical approach to exploration is designed to unlock the full value of this underexplored gold corridor, positioning Didievi as a potential multi-million-ounce gold project.

Advancing Konahiri North with New Targets

At the Konahiri North Gold Project, African Gold has defined a coherent 5-kilometre gold anomaly through infill soil sampling, which remains open to the north. This anomaly sits within a broader 18-kilometre corridor identified by earlier geochemical surveys. A 3,000-metre auger drilling program is underway to refine and prioritise targets ahead of a maiden diamond drilling campaign scheduled for November 2025. This next phase will test structurally focused, geochemically supported targets with potential for high-grade lode mineralisation at depth.

Konahiri’s location within the prolific Kotiola–Marabadrassa Birimian greenstone belt, known for hosting multi-million-ounce gold deposits, adds to the project’s appeal. The area remains largely underexplored, offering significant greenfields potential for African Gold’s growth strategy.

Financial Strength from Montage Share Sale

In a notable corporate development, African Gold completed the sale of over 2 million shares in Montage Gold at an average price of C$6.72, generating gross proceeds of approximately A$15 million. This transaction delivered a 134% gain over the original issue price and has boosted African Gold’s cash position to around A$16 million. The strengthened balance sheet provides the financial flexibility to accelerate exploration activities, including the planned four-rig drilling program commencing in November.

The company’s disciplined capital management and strategic asset monetisation underpin its ability to fund aggressive exploration without immediate reliance on equity raises, a positive signal for investors focused on sustainable growth.

Looking Ahead – District-Scale Growth

African Gold’s exploration efforts are clearly focused on building district-scale gold resources across the Didievi corridor. With multiple drill-ready targets beyond Blaffo Guetto and Konahiri, including the promising Pranoi and Poku trends, the company is well positioned to expand its resource base significantly. The proximity of Didievi to existing processing infrastructure further enhances its development potential, offering a pathway to near-term production and future standalone operations.

As the company prepares for its November drilling campaigns, the market will be watching closely for results that could materially upgrade resource estimates and validate African Gold’s vision of establishing Côte d’Ivoire’s next major gold project.