Nigerian company Japaul Gold & Ventures Plc has made a significant move by listing N20 billion worth of new shares on the Nigerian Exchange Limited (NGX). The company, which has been in operation since 1997, has diversified its business from oil servicing to gold mining and other solid minerals.
Chairman Jegede Paul explained that the company’s new shares have been listed at N2.50 per share, and this move is expected to bring in fresh capital to the company. Japaul Gold & Ventures has been strategically positioned to start gold production before the end of 2025, to have over 100 million ounces of gold reserve by 2034.
The company has exploration licenses in different parts of the country and mining leases in various gold fields. Managing Director Akin Oladapo stated that Japaul’s transition into the mining sector is aimed at establishing a niche for the organization across the value chain of the global mining business.
Japaul Gold & Ventures has faced challenges in the past, including a huge operating loss of N2.869 billion in 2021. However, the company has made significant progress, reporting an operating profit of N191 million in 2022 and N619 million in 2023.
The listing of new shares on NGX is expected to bring in fresh capital to the company, enabling it to further explore and develop its gold fields. Japaul Gold & Ventures is poised for continuous growth and profitability, with plans to pay dividends to investors shortly.
This move is a big step in Nigeria’s mining sector, which has vast potential for growth and development. Japaul Gold & Ventures is leading the way in gold mining and other solid minerals, and its success is expected to have a positive impact on the Nigerian economy.
