Asante’s president and CEO Dave Anthony stated the proceeds from the fairness problem would even be put in direction of “acquisition alternatives” in addition to refinancing of liabilities.
The Vancouver-based firm has a portfolio of tasks and mines in Ghana, the place it operates Bibiani and Chirano mines and continues with detailed technical research at its Kubi gold undertaking.
The miner is aiming to spice up its gold output this 12 months, with plans to supply 100,000 ounces from Bibiani and 165,000 ounces from Chirano.
To satisfy its targets, Asante is upgrading its operations at each websites. On the Bibiani mine, the corporate is putting in new crushing gear to extend ore processing capability from 3.3 million tonnes every year (Mtpa) to three.6 Mtpa.
At Chirano, Asante plans to put in a tertiary crusher, elevating throughput from the present 3.4-3.7 Mtpa to 4 Mtpa. This improve is predicted to spice up Chirano’s annual gold manufacturing to over 200,000 ounces throughout the subsequent two years.
Wanting forward, Asante plans to organically develop its complete manufacturing to over 500,000 ounces per 12 months by 2028. A key a part of this technique is the event of an underground part at Bibiani, slated to start operations by mid-2025. The mine presently holds 3.5Moz of assets throughout all classes, whereas Chirano has 3.1Moz.
Asante additionally famous it had agreed to non-binding phrases on an amended reimbursement schedule with Kinross Gold for the stability on the $225 million acquisition of Kinross Gold’s 90% stake in Chirano mine in 2022.
“Kinross and Asante count on to enter into an additional modification to its authentic share buy settlement,” the corporate stated. “Asante will problem full particulars on the amended reimbursement schedule when documentation is finalized.”
Ghana, the place Asante has mines and tasks, reclaimed in 2022 its standing as Africa’s prime gold miner, due to 32% surge in manufacturing. Gold output rose to three.7 million ounces in 2022 from 2.8 million ounces the earlier 12 months, when South Africa took the crown because the continent’s prime bullion producer.