trending Market Intelligence /marketintelligence/en/news-insights/trending/tcOnCsHUObievTcsnDYtLg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Desert Gold to acquire Ashanti Gold in C$3.8M deal

Mining Exploration Insights - April 2020

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

State of the Market: Mining Q2-2019


Desert Gold to acquire Ashanti Gold in C$3.8M deal

Desert Gold Ventures Inc. entered into a binding letter of intent to acquire Ashanti Gold Corp. in an all-share deal valued at C$3.8 million.

A definitive agreement is due by April 15, and closing is anticipated by Sept. 30. Closing is subject to various conditions including Ashanti Gold securing a renewal of its Kossanto East exploration permit in Western Mali, which is set to expire in May.

Desert Gold and Ashanti Gold said in a joint March 11 release that Ashanti Gold shareholders are expected to own 31% of the combined entity. Ashanti Gold CEO Tim McCutcheon will join the Desert Gold board upon closing.

The proposed exchange ratio is 0.2857 of a Desert Gold share for each Ashanti Gold share, with implied consideration of 5.14 Canadian cents per Ashanti share, a premium of 28.5% based on the March 8 closing price on the TSX Venture Exchange.

The consolidated asset portfolio will include a district-scale land package covering 190 square kilometers and hosting two geological structures as well as at least 11 known gold zones.