Brief: Asanko Gold To Receive $185 Mln From Gold Fields For 50 Pct JV Interest

Galiano Gold

29/03/2018 08:49

March 29 (Reuters) - Asanko Gold Inc  AKG.TO :
    * ASANKO GOLD TO RECEIVE US$185 MILLION FROM GOLD FIELDS FOR
50%
JOINT VENTURE INTEREST AND US$17.6 MILLION FOR 9.9% PRIVATE
PLACEMENT IN ASANKO GOLD
    * WILL USE THE PROCEEDS PRIMARILY TO REPAY ITS OUTSTANDING
RED
KITE DEBT OF US$164 MILLION‍​
    * ASANKO- ‍CO WILL REMAIN MANAGER & OPERATOR OF AGM, WILL
CONTINUE
TO BE PAID AN ARM'S LENGTH MANAGEMENT FEE FOR SERVICES RENDERED
TO JV OF ABOUT $6 MILLION PER ANNUM​
    * ‍ASANKO WILL RECEIVE US$185 MILLION FROM SUBSIDIARIES OF
GOLD
FIELDS LIMITED ​
    * SEES 2018 GOLD PRODUCTION 200,000 OZ - 220,000 OZ
    * SEES 2018 TOTAL CAPEX $19.5 MILLION

Source text for Eikon:  ID:nGNX4KsmpX 
Further company coverage:  AKG.TO 

 (Reuters.Briefs@thomsonreuters.com)