AngloGold intends to subscribe for 24,500,000 common shares in G2 Goldfields.
A leading explorer in Guyana, G2 Goldfields is currently exploring with the 17km long Aremu-Oko trend. The district has ben a prolific alluvial goldfield since the gold rush in the 1870s.
AngloGold’s subscription will see the company own 11.7 per cent of G2’s issued and outstanding shares.
“This strategic investment in G2 will provide us with a strong position in one of the world’s key gold provinces with significant potential for new discoveries,” AngloGold Ashanti chief executive officer Alberto Calderon said.
“We look forward to G2’s continued exploration success as the Guiana Shield continues to develop.”
AngloGold believes that the exploration properties have significant growth potential, and the company will be granted preemptive and top-up rights for future security issuances by G2.
The G2 team is led by executive chairman Patrick Sheridan and chief executive officer Dan Noone and is comprised of professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana, as well as the financing and development of Aurora, the largest gold mine in Guyana.
The subscription is expected to close in January 2024.
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