Think GloballyAct Locally
Soon Mining Company Limited (SMC) is a mineral exploration company founded in 2010 to officially acquired ownership of the Kwahu Praso Gold Concession (Kwahu Praso Gold Project). SMC owns 100% of the project and has ownership of the mineral rights in the mining area.
In March 2011, SMC obtained the Reconnaissance License for the Kwahu Praso Project and in March 2012, were issued the prospecting license for the concession. The mining lease was officially obtained in July 2013 from the Mineral Commission of the Government of Ghana.
An independent technical JORC report was completed in July 2013 and in 2014 a subsequent updated JORC report was done for Kwahu Praso Gold Project and peer reviewed by the Principal Consultant (Geology) of SRK consulting. The estimated Indicated mineral resource within the mining lease area is 152,000 ounces of gold.
Soon Mining Limited (SMG) was incorporate in January 2015. In March 2015, SMG entered into a share purchase agreement with Ocean Blue International Limited (OBI) to acquire all the issued capital in OBI to complete a corporate restructure. OBI owns 100% of Soon Mining Company Limited.
Soon Mining Limited (SMG) was listed on the Australian Stock Exchange (“ASX”) on 21st March 2016. Listing on the ASX enabled the company to successfully expand into international capital markets and grow its investor network for future expansion.
On 11th February 2017, SMC entered into an initial 3-year mining rights agreement under a joint venture for alluvial gold in the Konongo Project through a Ghanaian consulting company, Tecdrill Company Limited. Soon Mining Company Limited has the right to mine and process gold freely within the designated area and SMC will retain 85% of gold production.
In the 2018 SMG shareholders meeting adopted the increase of oil business projects. In addition to the existing gold mining and exploration business, the company is also capable of operating the oil business. The board of directors believes this will be in the best of business diversification and bring greater benefits to shareholders.
On 15th March 2018 SMC had been approved for the Certificate of Upstream Petroleum Services Company which was issued by the Petroleum Commission in Ghana. The Company has the ability to engage the upstream petroleum operations in Ghana now which including the drilling, production services and other petroleum related businesses.