23rd Feb 2026 11:52
(Alliance News) - Amigo Holdings PLC on Monday said it has advanced technical work to assess the potential of its exploration licences within the Lake Victoria gold belt in Tanzania, incorporating three subsidiaries in the process.
The group's companies have completed a regional structural analysis, a ranking of its targets across all its licence areas, and micro-seismic subsurface imaging for priority areas, the London-based loans guarantor said.
Work is starting to integrate surface and subsurface data to allow for a structural interpretation of the area before drilling.
The areas being evaluated are all part of the company's early exploration Mojimoto project, located in the Mara region of Tanzania, where other large-scale gold mines have been established.
To manage the company's interests, Amigo said Afri Core Resources Ltd, an entity 99% owned by Kiwuli Holdings Ltd, will handle exploration licences granted in Tanzania. Kiwuli itself will act as an intermediate holding company, owned for 51% by Amigo Capital FZE in Dubai, the final holding fully owned by Amigo Holdings.
Amigo Holdings shares were up 12% to 2.53 pence each on Monday morning in London.
By Martin Miraglia, Alliance News reporter
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