AngloGold Ashanti invests C$22m in G2 Goldfields to bolster position in Guyana’s gold market
AngloGold Ashanti plc (AGA), a leading player in the global mining industry, has announced its intention to make a significant investment in G2 Goldfields Inc. (G2), a company actively exploring gold in Guyana. This strategic move involves a subscription for 24,500,000 common shares in G2 at C$0.9 per share, amounting to a total consideration of C$22.05 million. This investment marks a pivotal moment in the gold mining sector, highlighting AGA’s foresight in tapping into one of the world’s most prospective gold provinces.
Strengthening Position in Guyana’s Gold Market
Upon completion of this investment, AGA will own approximately 11.7% of G2’s issued and outstanding shares. This acquisition is not just a financial venture but a strategic step towards strengthening AGA’s presence in Guyana’s rich gold landscape, part of the Guiana Shield. The region is known for its significant gold deposits, including the Aurora and Omai mines in Guyana, the Rosebel and Merian mines in Suriname, and other notable deposits in French Guiana.
Major Investment by AngloGold Ashanti in G2 Goldfields Inc. Expands Global Gold Exploration
G2 Goldfields’ Expert Team and Exploration Success
G2’s team, led by industry veterans Patrick Sheridan and Dan Noone, brings a wealth of experience to the table. Their history of successful gold discoveries and developments, particularly in Guyana, positions G2 as a promising entity in the gold mining industry. G2’s principal OKO project, consisting of the OKO Main Zone and Ghanie deposits, has already shown encouraging results with substantial Indicated and Inferred Mineral Resource estimates.
Exploration Potential and Future Plans
AGA’s investment is backed by its belief in the significant growth potential of G2’s exploration properties. The OKO Main Zone and nearby exploration targets present promising opportunities for new gold discoveries. G2’s plans to update its Mineral Resource estimates in the first half of 2024 further underline the potential of these properties.
Strategic Benefits and Future Outlook
Alberto Calderon, CEO of AngloGold Ashanti, commented on the investment, emphasizing its strategic importance in positioning AGA in a key gold province with significant discovery potential. This investment is expected to close in January 2024, subject to the fulfillment of customary conditions and the execution of definitive documentation.
Conclusion:
AngloGold Ashanti’s strategic investment in G2 Goldfields Inc. is a testament to the company’s commitment to expanding its global footprint in gold exploration. With this move, AGA taps into the vast potential of Guyana’s gold resources, marking a significant step in the global gold mining industry.