<\/p>\n
Edward Koranteng, CEO, MIIF<\/em><\/strong><\/p>\n THE MINERALS Income Investment Fund (MIIF) has acquired over 14.4 million ordinary shares in Asante Gold Corporation\u00a0(Asante), a mining exploration and development company listed on the Toronto and Frankfurt Stock Exchanges.<\/p>\n MIFF currently has about $260 million under management after receiving mineral royalties since 2020. It thus gets a total equity position of about 3.5% in Asante as a whole.<\/p>\n The Asante Gold Corporation, also listed on the Canadian and Frankfurt Stock Exchanges, closed a US$100 million round of private placements on the 25 February, 2022, for which MIIF acquired 20% at CAD$1.75 per common share.<\/p>\n The company owns an advanced exploration project at Kubi near Obuasi.<\/p>\n Asante\u00a0purchased the Bibiani mine from Resolute Mining Ltd in August 2021 and has since placed it on an accelerated development programme to bring the mine into production by the third quarter of 2022.<\/p>\n Asante owns other ongoing exploration activities in Fahiakoba and Betenase in Ghana, all within Ghana\u2019s gold triangle.<\/p>\n Kwabena Barning, Head of Operations and Chief Technical Officer of MIIF, stated \u201cMIIF decided to take the offering after rigorous due diligence and a detailed technical analysis of the Bibiani mine which has the potential to be one of the highest yielding mines in Ghana.\u201d<\/p>\n Chief Executive Officer of MIIF,\u00a0Edward Nana Yaw Koranteng, said \u201cIt was a window of opportunity for us ( MIIF management) and the type of long-term asset we are looking for especially before the pour of first gold\u201d.<\/p>\n Asante has recently received a permit from the Environmental Protection Agency, which gave it permission to commence project development and production.<\/p>\n According to Mr. Koranteng, Bibiani\u2019s prospects are very good, with the mining contractor and other key contractors for fuel, explosives and plant refurbishment all substantially mobilised.<\/p>\n \u201cWe are in for the long haul and expect to see a gradual climb of the share price once Asante has achieved its key milestone of first gold in August\u201d.<\/p>\n \u201cBibiani is significantly de-risked given its past producer status and will have a production profile between 220,000 to 260,000 oz\/year) for the next 9 years,\u201d he added.<\/p>\n \u00a0<\/p>\n \n\t<\/div>\n","protected":false},"excerpt":{"rendered":" Edward Koranteng, CEO, MIIF THE MINERALS Income Investment Fund (MIIF) has acquired over 14.4 million ordinary shares in Asante Gold Corporation\u00a0(Asante), a mining exploration and development company listed on the Toronto and Frankfurt Stock Exchanges. MIFF currently has about $260 million under management after receiving mineral royalties since 2020. It thus gets a total equity […]<\/p>\n","protected":false},"author":1,"featured_media":1008127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[5588,213,451,5589,430,4985,478],"class_list":["post-1008125","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-144m","tag-asante","tag-buys","tag-corporation","tag-gold","tag-miif","tag-shares"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1008125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1008125"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1008125\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1008125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1008125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1008125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}