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Ashanti exercises initial earn-in over Goldplat's Anumso project in Ghana

Following completion of a six-month review period, Ashanti Gold Corp. exercised the option to earn 51% of Goldplat Plc's interest in the Anumso gold project in Ghana.

Under the deal terms, Ashanti is required to spend US$1.5 million in the first 18 months to earn an initial 51% interest, according to a March 30 release.

Additionally, Ashanti can increase its interest in the project to 75% by spending a further US$1.5 million within the next 12 months.

Goldplat holds a 90% stake in the Anumso project, while the remaining 10% is owned by the government of Ghana.

The companies executed the earn-in option deal in September 2016.