Resolute Mining Ltd (ASX:RSG) has updated its investment in three junior gold companies, Orca Gold Inc (CVE:ORG), Loncor Resources Inc (TSE:LN) and Manas Resources Ltd (ASX:MSR).
The previously outlined strategic investments in Canadian-listed Orca and Loncor are now complete with Resolute holding a 17% undiluted interest in Orca and 27% interest in Loncor.
Resolute also increased its holding in Manas by 3% to a total 23% interest via a share swap agreement.
READ: Resolute Mining receives environmental permit for Bibiani recommissioning
Last week, Resolute achieved a milestone in receiving environmental permit authorisation (EPA) to recommission the Bibiani underground gold mine and plant in Ghana.
The company intends for Bibiani to be its third operating gold mine alongside the Syama mine in Mali and Ravenswood mine in Queensland.
Production from Bibiani in FY21 will play a key role in transforming Resolute into a 500,000 ounces per annum gold producer.
Manas Resources is also based in West Africa
Manas has a large exploration landholding assembled in Cote d’Ivoire over prospective greenstone belts.
The recent Mbengué project acquisition provides the company with a significant opportunity for near-term success.
Manas has a zero entry cost for 70% earn-in rights following US$2 million worth of exploration expenditure.
The Mbengué project hosts a large gold anomaly adjacent to the world-class Tongon 4.9 million ounce gold deposit.
High-grade historical drilling results include 28 metres at 8.1 g/t gold and 25 metres at 4.0g/t gold ending in mineralisation.