Asante Gold (CSE: ASE) has secured $470 million to refinance debt, fund expansion at its Bibiani and Chirano gold mines in Ghana, and prepare for a mid-August TSX Venture Exchange debut.
The financing package includes $150 million in senior debt underwritten by South Africa’s Rand Merchant Bank, as well as up to $125 million in subordinated debt anchored by $75 million from London-based private equity firm Appian Capital. Asante has also arranged a $50 million gold-stream facility tied to production from its Bibiani and Chirano mines.
The company has also secured $110 million in bridge financing from lenders in the UAE and Ghana to help fund pit expansion and commission the sulphide circuit at Bibiani. The equity portion totals about $85 million so far, with Appian as the lead investor, as Asante targets raising up to $130 million.
This influx is intended to eliminate Asante’s debt obligations tied…
