JOHANNESBURG (miningweekly.com) – Dual-listed Asante Gold has reached an agreement with Ghana-based gold exploration company Goknet Mining to close the acquisition of the Kubi mining leases by issuing seven-million treasury shares, reserving 8 000 oz of gold for future delivery to Goknet.
Vancouver, British Columbia-based Asante plans to further explore and develop Kubi as a custom milling and direct-shipping underground operation.
The company will also acquire Goknet’s interests in eight prospecting licences – two totalling 38 m2 adjoining to the west of the Kubi mining leases – and six contiguous licences totalling 270 m2 located on the Asankrangwa Gold Belt, 15 km to the south-west and along strike of the Asanko gold mine.
To purchase the licences, Asante will issue up to a maximum of three-million treasury shares.
Goknet will retain a 2% net smelter return royalty on each licence acquired by the company.