Vancouver-based Asante Gold has an-nounced it entered into an agreement to invest some US$5 million in West African gold explorer Roscan Gold corporation.
Under the deal, Asante Gold has agreed to subscribe for and pur-chase some 22.1 million common shares, the business said in a statement.
Douglas MacQuarrie, the president and CEO of Asante, said that “Roscan’s 100% owned Kandiole Gold Project in West Mali is located in one of the most prolific and productive gold jurisdictions in Africa. Results to date show a high potential to define a substantial gold min-eral resource. With this investment, Asante’s shareholders gain ex-posure to Roscan’s large exploration upside, and at a very attractive entry point.”
Asante Gold says it holds a number of projects in Ghana which it describes as Africa’s largest and safest gold producer.