Latest news for Asante Gold (OTC:ASGOF) Stock

Asante Gold Corp is an exploration-stage company. It plans to capitalize on the gold-rich and growing mining environment by continuing to build assets through exploration, development, and acquisitions. The company is involved in the exploration and evaluation of mineral properties in Ghana, West Africa. The group portfolio consists of various projects namely Fahiakoba, Betanase, Keyhole, and Kubi and it generally explores gold deposits. The company has also acquired the Bibiani gold mine from Resolute Mining.

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Kinross Sells Chirano Mine In Ghana To Asante Gold

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<ul>
	<li>Kinross Gold Corp&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/K#TSX">K</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGC#NYSE">KGC</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/04/g26782616/kinross-announces-sale-of-chirano-mine-in-ghana" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">has agreed to sell its 90% stake in the Chirano mine</a>&nbsp;in Ghana to&nbsp;Asante Gold Corp&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/ASGOF#OTC">ASGOF</a>) for a total consideration of $225 million in cash and shares.</li>
	<li>&nbsp;The Ghanaian government has a 10% carried interest in Chirano.</li>
	<li>Kinross will get $115 million in cash upon the transaction&#39;s completion. Kinross will additionally receive $50 million in Asante common shares based on the 30-day volume-weighted average price of Asante common shares before closure.</li>
	<li>Kinross will also receive a total deferred payment of $60 million in cash.</li>
	<li>The transaction is expected to be completed on or around May 31, 2022.</li>
	<li>With the expected close of the transaction, Kinross will have no assets or interests in Ghana.</li>
	<li>Price Action:&nbsp;K shares are trading lower by 3.02% at C$6.74 on TSX, KGC lower by 3.01% at $5.33, and ASGOF lower by 3.75% at $1.54 on the last check Monday.</li>
</ul>

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Latest news for Asante Gold (OTC:ASGOF) Stock

Monday, April 25, 2022