Shares of AngloGold Ashanti plc (AU) are trading 6% higher Tuesday morning following the company’s decision to invest in G2 Goldfields Inc.
The company intends to buy 24.5 million shares of G2 for C$0.90 per share for total consideration of C$22.05 million.
Commenting on the Subscription, Alberto Calderon, CEO of AngloGold Ashanti said, “This strategic investment in G2 will provide us with a strong position in one of the world’s key gold provinces with significant potential for new discoveries. We look forward to G2’s continued exploration success as the Guiana Shield continues to develop.”
G2 is actively exploring in Guyana, which is host to a number of significant deposits including the Aurora (6Moz) and Omai (5Moz) mines and the Toraparu (7.0Moz) deposit in Guyana; the Rosebel (13.7Moz) and Merian (6Moz) mines in Suriname; and the Montagne d’Or (3.9Moz) and Camp Caiman (2.9Moz) deposits in French Guiana.
AU is at $19.01 currently. It has traded in the range of $14.91 – $30.27 in the last 1 year.
Source: Read Full Article