Asante Gold (ASE) has successfully completed the purchase of the Bibiani Gold Mine from Resolute Mining Limited for US$90 million.
Resolute has received the initial US$30 million cash payment from Asante with the balance payable in two equal instalments of $30 million on or before six and twelve months following closing.
Asante is now assembling the team that will develop the Bibiani Mine back to production.
Asante is a Canadian-based 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 the Bibiani and Kubi Gold development projects located on the prolific Bibiani and Ashanti Gold Belts.
Asante Gold Corporation (ASE) is trading at C$1.00 per share at 10:30 am ET.