Asanko Gold Axes 2-percent Net Smelter Return Royalty

Asanko Gold Inc. (TSX:AKG,NYSEMKT:AKG) announced that it has entered into a settlement agreement with Goknet Mining Company under which Goknet’s claim for a 2-percent net smelter return royalty on Phase 1 of the Asanko gold mine project will be eliminated.

As quoted in the press release:

The only material royalty now applicable to Phase 1 of the Project is the Government of Ghana’s 5% NSR royalty.

The financial terms of the Agreement are confidential, however they are not considered material to Asanko. The settlement involves cash, one million Asanko shares and the transfer to Goknet of two non-material exploration projects, Kubi and Diaso. Included in the agreement the Company will retain a right to match any future offer made to Goknet with respect to a disposal of the Diaso Project concessions.

Click here to read the full Asanko Gold Inc. (TSX:AKG,NYSEMKT:AKG) press release.

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