Asante Gold closes acquisition of Bibiani mine
Asante Gold Corporation [CSE-ASE; FRANKFURT-1A9; U.S.OTC-ASGOF] earlier announced the successful completion of the purchase of the Bibiani Gold Mine in Ghana from Resolute Mining Limited for total cash consideration of US$90 million.
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.
Shares of Asante currently trade at CAD$1.00 with a 52 week high of $1.10 and 52 week low of $0.08.