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African Gold Group completes sale of Ghanaian gold assets

African Gold GroupInc. said July 12 that it has completed the sale of its AGG Ghana Ltd.subsidiary to private Ghanaian firm Star Goldfields Ltd. for US$1.2 million.

AGG Ghana holds all of African Gold's assets in Ghana, and thesale included the company's Asankrangwagold tenements and Nyankumasigold concession in the country.

The company has received the remaining US$1.0 million of theconsideration amount. Star Goldfields paid African Gold a nonrefundable US$200,000deposit upon signing the initial purchasedeal in January.