Asante Gold Gains Conditional Approval for Joint Venture

Asante Gold Corp. (TSXV:ASE) announced that the TSX Venture Exchange has granted it conditional approval to gain a joint venture interest in Goknet Mining Company Ltd.’s Kubi gold mine.

As quoted in the press release:

Subject to entering into a Definitive Agreement with Goknet, financing and final closing, the joint venture plans on developing the Kubi Gold Mine as a custom milling and direct shipping operation as it is located near major mining and milling infrastructure between AngloGold Ashanti’s 60 million ounce* Obuasi Gold Mine and Perseus Mining Limited’s 6.6 million ounce* Edikan Gold Mine (* pre-mining resource, source company annual reports).

This proposed plan will minimize the required time and capital (estimated at 16 months and US$20 million) to reach production, subject to future exploration results, at 500 tpd or ~30,000 oz Au per year. Financing is expected to be primarily via secured debt in order to minimize future equity dilution.

Click here to read the full Asante Gold Corp. (TSXV:ASE) press release.