Sydney - Tuesday - July 29: (RWE Aust Business News) -...

Sydney - Tuesday - July 29: (RWE Aust Business News) - Azumah
Resources (ASX:AZM) has secured the backing of Macquarie Bank (ASX:MQG)
as a substantial shareholder, with a $1.94 million share placement to
accelerate the development of the Wa-Lawra gold project in Ghana.
Macquarie has subscribed for 12.15m shares at an issue price of
16c each.
Macquarie will become Azumah's single largest shareholder with an
equity position of 13 per cent.
"Macquarie has a detailed knowledge of the West African resources
industry, and holds a number of strategic investments in several well
regarded explorers and producers in the region. We look forward to
working with Macquarie to achieve Azumah's ambitions," executive chairman
Stephen Stone said.