Business
Asante Gold Closes Acquisition of Bibiani Mine
VANCOUVER, British Columbia, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the "Company"), is pl
About this update from Asante Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the \"Company\"), is pleased to announce the successful completion of the purchase of the Bibiani Gold Mine (Bibiani) in Ghana from Resolute Mining Limited (Resolute) for total cash consideration of US$90 million (see our press release dated 5 August 2021). Resolute has received the initial US$30 million cash payment from Asante with the balance of consideration payable in two equal instalments of US$30 million on or before six and twelve months following closing. Given the successful closing of the purchase, Asante is now finalizing its team that will develop the Bibiani Mine back to production, and we look forward to sharing those plans once completed. \"Douglas R. MacQuarrie\" President and CEO About Asante Gold Corporation Asante is a pure gold exploration and development company with a high-quality portfolio of projects in Ghana, Africa’s largest and safest gold producer. Asante is focused on developing high margin gold projects including our Bibiani and Kubi Gold development projects located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with more than 24Moz of gold resources and reserves discovered and developed in Ghana. Asante is listed on the Canadian Securities Exchange and Frankfurt Stock Exchange and has announced plans to co-list its shares in Ghana. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle. Additional information is available on our web site at: www.asantegold.com About the Bibiani Gold Mine Bibiani is a historically significant Ghanaian gold mine situated in the western region of the country. Bibiani has past production of 4Moz, is fully permitted with available mining and processing infrastructure on site consisting of a 3 million tonne per annum mill and processing plant, and existing underground mining infrastructure. Resolute acquired Bibiani in 2014, and placed the mine on care and maintenance following their acquisition to complete exploration activities designed to enable the development of an economically viable, long term, large scale undergro...