In Ghana, the Canadian company Asante Gold has completed the acquisition of the Bibiani Gold gold mine from Resolute Mining. The company said it paid Resolute $ 30 million in cash. After the transaction closes, an additional $ 30 million will be paid no later than six months. Then the remaining $ 30 million will be paid out no later than one year.
For Asante President and CEO Douglas MacQuarrie, the company was in the process of finalizing the establishment of the team to bring Bibiani back to production. The company also announced its intention to co-list its shares on the Ghana Stock Exchange.
Also, according to estimates, Bibiani has the potential to generate around 100,000 ounces of gold per year over a ten-year lifespan.