’Reddit is built for this moment’ - Stock soars on crushed earnings
LONDON - Landore Resources Limited (AIM:LND) has raised approximately £3.68 million gross through a two-tranche subscription in June 2024, the mining company reported in its final results for the year ended 31 December 2024.
The funds will support development of the company’s flagship BAM Gold Project in Ontario, Canada. Landore completed a 3,500-meter drilling program following soil and channel sampling to identify targets within the existing ore body.
CEO Alexander Shaw, who joined mid-2024, stated the company is pursuing a strategy to fast-track development of the BAM project in a cost-effective manner. Shaw envisions a "string of pearls" type mining operation with potential for both surface and underground operations.
"With the gold price near all-time highs, there has never been a better time to be a gold developer in Ontario - a tier one gold jurisdiction," Shaw said in the press release statement.
The company expects to receive an updated mineral resource estimate for the BAM project in the third quarter of 2025, incorporating results from the recent drilling campaign. This will be followed by an updated prefeasibility study.
Landore also reported it has refreshed its corporate branding and launched a new website with an investor hub.
The company’s Annual General Meeting is scheduled for August 5, 2025, at One Heddon Street in London. The full 2024 Annual Report and AGM notice are being distributed to shareholders and will be available on the company’s website.
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