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LONDON (Alliance News) - Goldplat PLC on Monday said Ashanti Gold Corp will exercise its option for 51% of the Anumso Gold project in Ghana.
Goldplat shares were trading up 13% at 4.0 pence.
Goldplat is a gold producer with gold recovery operations in South Africa and Ghana, as well as a gold mine in Kenya. Goldplat is at present conducting a review of Ashanti's work on the licence, a formal part of the earn-in agreement.
According to Goldplat, it is working together with Ashanti on a development plan to advance Anumso.
Ashanti had until the end of October to earn its 51% interest via the expenditure of USD1.5 million in Anumso. It may earn up to a further 24% interest in Anumso through an additional USD1.5 million of expenditure in the next 12 months.
"I am delighted that Ashanti have elected to exercise their option over Anumso, validating their confidence in the project. We have worked well with Ashanti to date and I believe that the partnership has, and will continue to add value to the asset, and more importantly, to our shareholders and to all other stakeholders including the local community," said Goldplat Chief Executive Gerard Kisbey-Green.