Corporate Update: Mojimoto Gold Project, Tanzania
Summary by AI BETAClose X
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE 23 February 2026
Amigo Holdings PLC
("Amigo" "PLC" or the "Company")
Corporate Update: Mojimoto Gold Project, Tanzania
Amigo Holdings PLC (LSE: AMGO) provides an update on exploration activities and corporate restructuring related to the Mojimoto Gold Project in the Mara Region of Tanzania.
Following its preliminary update on 19 January 2026, Amigo's group of companies ("Group") has advanced technical work to assess the potential of its licences within the Lake Victoria Gold Belt. To support the next phase of development, the Company has also incorporated three new group subsidiaries.
Exploration Progress and Technology Deployment
In partnership with technical collaborator AK Corporation, the Group has completed the following initial exploration work:
· Regional Analysis: Completed regional structural analysis and surface geological reconnaissance.
· Target Ranking: Ranked exploration targets across all licence areas.
· Subsurface Imaging: Conducted micro-seismic subsurface structural imaging across priority zones.
· Data Integration: Initiated workflows to integrate surface and subsurface datasets for structural interpretation.
The Group is utilising advanced technologies to minimise geological risk before drilling, including AI-assisted satellite alteration mapping, rapid spectral analysis, and integrated geospatial modeling.
Regional Context
The Mojimoto Project is located in the Mara Region, a premier gold province hosting several multi-million-ounce operations. The project is situated within the Lake Victoria Gold Belt, near established large-scale mines such as:
· North Mara Gold Mine (Barrick Gold Corp): Reported reserves of approximately 3 million ounces.
· Geita Gold Mine (AngloGold Ashanti): Reported reserves of approximately 3.5 million ounces.
The presence of these mines demonstrates the structural continuity of gold-bearing systems in the region, providing a foundation for systematic exploration at Mojimoto.
Corporate Restructuring
Amigo has established a new corporate structure to manage its regional interests:
· Amigo Capital FZE (Dubai): Wholly owned by Amigo Holdings PLC; serves as the holding company for mining opportunities in Tanzania.
· Kivuli Holdings Ltd (Ras Al Khaimah): 51% owned by Amigo Capital FZE; acts as an intermediate holding company for Tanzanian operations.
· Afri Core Resources Limited (Tanzania): 99% owned by Kivuli Holdings Ltd; this entity is a holding company for exploration licences granted in Tanzania.
Next Steps
The Group's forthcoming technical objectives include:
· Completing integrated structural modeling.
· Conducting targeted trenching in high-priority zones.
· Refining drill-ready targets.
· Continuing systematic exploration using advanced methodologies.
The primary goal is to expedite the technical understanding of the licences while maintaining prudent capital allocation.
Project Status and Cautionary Statement
The Mojimoto Gold Project remains at an early exploration stage. Current exploration is insufficient to define a Mineral Resource or Mineral Reserve under applicable reporting codes. References to nearby large-scale mines are for regional context only and do not imply that similar mineralisation exists on the Group's licences. The exploration activities and corporate restructuring have been executed through internal resources.
Contacts:
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Amigo Holdings PLC |
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Craig Ransley |
Executive Chair |
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Nick Beal |
Chief Executive |
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Sponsor
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Beaumont Cornish 0207 628 3396 |
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This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). The person responsible for this announcement is Nicholas Beal, Company Secretary.
About Amigo Holdings PLC
Amigo is a public limited company registered in England and Wales with registered number 10024479. The Amigo Shares are listed on the Official List of the London Stock Exchange.
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