Desert completes buyout of Ashanti Gold
Desert Gold Ventures (TSXV: DAU) closed this week the acquisition of Ashanti Gold Corp (TSX-V: AGZ), a move that caused the Canadian company’s stock to jump 7.5% in the past five days.
In a media statement, Desert said that each shareholder of Ashanti will receive 0.2857 Desert Gold shares for each Ashanti share held. In parallel, 21,097,657 Desert Gold shares were issued to Ashanti shareholders.
Ashanti will continue operating as a wholly-owned subsidiary of Desert
The buyout increases Desert’s land position along and near the Senegal-Mali Shear Zone and Main Transcurrent Fault Zone by 28% to 296.9 square kilometres. This is due to the addition of the Kossanto East project, located in western Mali, near the border with Senegal.
“Both of these regional structures are related to multi-million-ounce gold mines and deposits owned by B2Gold, Barrick, AngloGold Ashanti/IAMGOLD and Teranga,” the British Columbia-based miner said in the press release.
According to Dessert, the Ashanti concession hosts five gold zones with drill intercepts to 2.04 g/t Au over 75 metres. Gold mineralization in these zones is related to hydrothermal-type breccia zones and typical, structurally-controlled shear and fault zones hosted by both volcanics, sediments and felsic intrusions.
source: MINING.COM
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Mercuria eyes equity in African assets, new metals boss says
Glencore posts lower metals output for first nine months, reiterates outlook
Gold price surge adds glitter to tarnished miners
Traders see gold as a surefire bet as coin-toss election looms
Anglo American sells Australian coal JV stake for $1.1 billion
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years