Compass Gold Extends Warrant Expiry Amid Mali Mining Permit Delays
Compass Gold Corp. has announced plans to extend the expiry date of its common share purchase warrants. The move comes as the company continues exploration work in Mali while awaiting a key mining permit. Shareholders and regulators will now review the proposed changes.
The company intends to push back the warrant expiry date from December 31, 2025, to December 31, 2026. A total of 7,298,668 warrants will be affected, with the exercise price remaining fixed at $0.30 per share. The extension still requires final approval from the TSX Venture Exchange.
Meanwhile, the Board of Directors has issued 4,150,000 new options to officers, employees, and consultants. These options carry an exercise price of $0.18 per share and will last for five years. With this addition, the company now has 9,771,000 options outstanding—roughly 7.7% of its total common shares.
In Mali, the company’s technical team is actively exploring the Sikasso Property, covering 910 sq. km. They are investigating multiple geological anomalies as part of an ongoing programme. CEO Larry Phillips explained that the warrant extension follows a two-year suspension of Mali’s mining code, which delayed planned operations.
The company is also nearing the final stages of securing a Small Mine Permit for its Massala project. The Minister of Mines is expected to grant approval shortly.
Among the warrants set to expire in 2026, 1,233,334 are held by company insiders. This could classify the extension as a related party transaction under Canadian securities regulations.
The extended warrants will remain valid until the end of 2026, provided the TSX Venture Exchange approves the change. Compass Gold continues its exploration in Mali while awaiting the Massala permit. The company’s updated share options and warrant structure will now be disclosed in its upcoming regulatory filings.
