The first round funding of $325 million would allow the company to proceed with key capital projects to upgrade its mining operations. These include a pit expansion and a new sulphide plant at Bibiani, equipment upgrades at Chirano, as well as underground development at both sites.
The second stage will include a $150 million senior debt facility, to be arranged by FirstRand Bank, and a $50 million standby equity commitment from an unnamed strategic investor, for a total of $200 million.
“Completion of this comprehensive financing package will mark a breakthrough moment in Asante’s history. It will transform our balance sheet and support execution of our growth plan to achieve gold production above 500,000 ounces per year by 2028,” commented Dave Anthony, Asante’s CEO.
The company’s plan is to organically grow its gold production through improvements at Bibiani and Chirano, tapping into the approximate…
