www.nyotaminerals.com
Nyota Minerals Limited (Nyota) is a mineral exploration and development company dual listed on the AIM Market of the London Stock Exchange (AIM:NYO.L) and the Australian Stock Exchange (ASX:NYO.AX). We are focused on the exploration and concurrent development of Tulu Kapi, our flagship project in Western Ethiopia. Total Inferred JORC Resource containing 1.46 million ounces of gold (15.96 million tonnes @ 2.84g/t gold). The Company is actively exploring several priority targets proximal to Tulu Kapi as well as regional gold targets in the northern blocks which Nyota believes have the potential to become future standalone projects.
Nyota Minerals completes exit from Philippines through sale of Daguma coal project stake
Nyota Minerals (AIM: NYO) has completed its planned exit from the Philippines by selling its non-core 8% stake in the Philippine Daguma coal project for US$1.7 million to provide additional funds to advance the ongoing exploration of its flagship Tulu Kapi gold project in Ethiopia.
“This exit from the Philippines strengthens our cash position to focus on our primary objective to quickly and efficiently substantially increase the JORC measured gold resource at Tulu Kapi,” said chief executive Melissa Sturgess.
The announcement comes just a day after Nyota reported on the results of metallurgical tests at Tulu Kapi, which it said would support prefeasibility level capital and operating cost estimates for a gold recovery plant and demonstrated potential for high recoveries and low operating costs when the project commences production.
The company raised £2.25 million to accelerate drilling at Tulu Kapi in December, two months after an independent technical review by Venmyn Rand to NI43-101 standard confirmed that the project was highly prospective with good upside potential from additional mineralisation and high gold recoveries from testwork.
Back in January, London based independent stockbroker Ocean Equities Ltd said that the Tulu Kapi gold resource may dwarf its initial 1 Moz estimate.

















