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Algold bolsters balance sheet

West Africa-focused gold exploration and development company Algold Resources (CN:ALG) has bolstered its exploration funds through a C$3.7 million (US$2.9 million) private placement.

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The inferred mineral resources at the Tijirit gold project have recently been upgraded

The subscriber of the placement was Mauritania-based family-owned company Wafa Mining & Petroleum, which now has the right to nominate one member to Algold’s board of directors and can participate