Resolute Mining has tapped Treadstone Partners and law firm Thomson Geer for the sale of its Bibiani Gold Mine for $US90m to Asante Gold.
Asante is an explorer and developer of gold projects in Ghana including the Kubi Gold Project and is listed on the Canadian Securities Exchange.
It has announced plans to co-list its shares on the Ghana Stock Exchange.
The Bibiani mine is located in the western region of Ghana and has been one of the country’s major gold producers.
It has a mill and processing plant capable of processing 3 million tonnes of gold per annum and existing underground mining infrastructure.
Resolute, which mines gold in Australia and Africa, purchased the mine in 2014.
It was placed on care and maintenance following the acquisition to complete exploration activities designed to enable the development of an economically viable, long term, larger scale underground operation.
Current mineral resources at Bibiani consist of 21.7 million tonnes at 3.6 grams of gold per tonne for 2.5m ounces of gold.
Jarden to lobby for joint Australia-NZ share trading index
Growing concerns about liquidity on the Australia and New Zealand stock exchanges have prompted plans to lobby governments for a combined trans-Tasman share trading index.
Citi leads as block trades rule
Block trades dominated much of the equity capital markets activity in 2024, with Citi coming out on top with its role in a deal involving Goodman.