AngloGold Ashanti investing in Guyana's G2 Goldfields
AngloGold will own almost 12% of the Guyana-focused explorer
AngloGold Ashanti announced it is investing in G2 Goldfields, subscribing for 24.5 million common shares at C$0.90/share.
Following the C$22 million investment, AngloGold Ashanti will own around 11.7% of G2's shares.
AngloGold's investment in the Guyana-focused explorer comes as tensions are rising in the region. Venezuela announced it wants to annex Guyana's resource-rich Essequibo region, which covers over two-thirds of the country.
AngloGold said it believes that G2's exploration projects "have significant growth potential".
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G2 said it will use the proceeds to advance exploration at the Oko project. Oko has 974,000oz gold inferred mineral resource contained within 3Mt at 9.25gpt gold, and 220,000oz gold indicated mineral resource contained within 793,000t at 8.63gpt gold.
"We are delighted Anglo Ashanti has confirmed it intends to be a major shareholder in G2," G2 chief executive Dan Noone said. "This is a testament to the quality of our assets and exploration team. Anglo Ashanti's investment will allow us to continue to advance our high-grade OKO project whilst aggressively exploring our district-scale land package."
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