Shanta Gold Set to Complete Acquisition of Kenyan Miner from Barrick
By Anthony O. Goriainoff
Shanta Gold Ltd. said it expects to complete the acquisition of
Acacia Exploration Ltd. from Barrick Gold Corp on Wednesday.
The London-listed, East Africa-focused gold producer said that
closing of the transaction is conditional on admission to AIM of
54.7 million consideration shares.
The company said in February it was acquiring Acacia
Exploration, a Kenya-based company that has a 100% participating
interest in licenses held by AfriOre Ltd., which includes an
existing high-grade resource.
The company said at the time that Barrick Gold would become its
fifth largest shareholder with a 6.4% interest.
Shares at 0730 GMT were down 0.37 pence, or 2.2%, at 16.88
Write to Anthony O. Goriainoff at
(END) Dow Jones Newswires
August 19, 2020 03:49 ET (07:49 GMT)
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