https://www.miningweekly.com
Gold|Mining|Resources
Gold|Mining|Resources
gold|mining|resources

Golden Star seeks $15m payment owed to it for Bogoso-Prestea sale

20th July 2021

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Canadian mining company Golden Star Resources announces that Future Global Resources (FGR) has defaulted on its obligation to pay the company's wholly-owned subsidiary, Caystar Holdings, $15-million of the purchase price relating to the sale of Golden Star's 90% interest in the Bogoso-Prestea gold mine.

FGR has claimed that it is entitled to set-off its obligation to make such payment under the share purchase agreement (SPA) as a result of various alleged breaches of the SPA, a claim which Golden Star and Caystar say is without merit.

Caystar has also demanded that FGR's major shareholder, Blue International Holdings (BIH), pay the $15-million pursuant to the guarantee made by BIH in the SPA.

In the event payment is not received from BIH, Golden Star and Caystar are evaluating all available avenues of recourse to seek full recovery of amounts owed by FGR under the SPA.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.147 0.181s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: