AngloGold Ashanti plc (“AGA” or the
“Company”) is pleased to announce that it intends, subject
to execution of definitive documentation and satisfaction of
customary conditions, to subscribe (the “Subscription”) for
24,500,000 common shares (the “Shares”) in G2 Goldfields
Inc. (“G2”) at C$0.90 per share for total consideration of
C$22,050,000.
Following completion of the Subscription, AGA will own
approximately 11.7% of G2’s issued and outstanding Shares.
G2 is actively exploring in Guyana, a country which hosts the
Guiana Shield, one of the world’s most prospective gold provinces.
The Guiana Shield is host to a number of significant deposits
including the Aurora (6Moz) and Omai (5Moz) mines and the Toraparu
(7.0Moz) deposit in Guyana; the Rosebel (13.7Moz) and Merian (6Moz)
mines in Suriname; and the Montagne d’Or (3.9Moz) and Camp Caiman
(2.9Moz) deposits in French Guiana.
The G2 team, led by Patrick Sheridan, Executive Chairman and Dan
Noone, CEO 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, Guyana’s
largest gold mine.
G2’s principal OKO project comprises the OKO Main Zone and
Ghanie deposits. G2 announced, in April 2022, an Indicated Mineral
Resource estimate for the OKO Main Zone containing 220,000 oz Au
(793,000 tonnes grading 8.63 g/t Au) and an Inferred Mineral
Resource estimate of 974,000 oz Au (3,274,000 tonnes, grading 9.25
g/t Au). G2 intends to publish a Mineral Resource update in the
first half of 2024.
G2 has other exploration targets within a 20km radius of OKO
Main and Ghanie, which are located directly adjacent to Reunion
Gold Corporation’s OKO West discovery and where an Indicated and
Inferred Mineral Resource of 4.24Moz, grading 1.91 g/t, was
published in June 2023.
AGA believes that G2’s exploration properties have significant
growth potential.
As part of the Subscription, AGA will be granted pre-emptive and
top-up rights for future security issuances by G2.
Commenting on the Subscription, Alberto Calderon, CEO of
AngloGold Ashanti said, “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. We look
forward to G2’s continued exploration success as the Guiana Shield
continues to develop.”
The Subscription is expected to close in January 2024, subject
to execution of definitive documentation and satisfaction of
customary conditions.
Forward-looking statements
Certain statements contained in this document, other than
statements of historical fact, including, without limitation, those
concerning the economic outlook for the gold mining industry,
expectations regarding gold prices, production, total cash costs,
all-in sustaining costs, all-in costs, cost savings and other
operating results, return on equity, productivity improvements,
growth prospects and outlook of AngloGold Ashanti plc’s (the
“Company”, “AngloGold Ashanti” or “AGA”) operations, individually
or in the aggregate, including the achievement of project
milestones, commencement and completion of commercial operations of
certain of AngloGold Ashanti’s exploration and production projects
and the completion of acquisitions, dispositions or joint venture
transactions, AngloGold Ashanti’s liquidity and capital resources
and capital expenditures, the consequences of the COVID-19 pandemic
and the outcome and consequences of any potential or pending
litigation or regulatory proceedings or environmental, health and
safety issues, are forward-looking statements regarding AngloGold
Ashanti’s financial reports, operations, economic performance and
financial condition. These forward-looking statements or forecasts
are not based on historical facts, but rather reflect our current
beliefs and expectations concerning future events and generally may
be identified by the use of forward-looking words, phrases and
expressions such as “believe”, “expect”, “aim”, “anticipate”,
“intend”, “foresee”, “forecast”, “predict”, “project”, “estimate”,
“likely”, “may”, “might”, “could”, “should”, “would”, “seek”,
“plan”, “scheduled”, “possible”, “continue”, “potential”,
“outlook”, “target” or other similar words, phrases, and
expressions; provided that the absence thereof does not mean that a
statement is not forward-looking. Similarly, statements that
describe our objectives, plans or goals are or may be
forward-looking statements. These forward-looking statements or
forecasts involve known and unknown risks, uncertainties and other
factors that may cause AngloGold Ashanti’s actual results,
performance, actions or achievements to differ materially from the
anticipated results, performance, actions or achievements expressed
or implied in these forward-looking statements. Although AngloGold
Ashanti believes that the expectations reflected in such
forward-looking statements and forecasts are reasonable, no
assurance can be given that such expectations will prove to have
been correct. Accordingly, results, performance, actions or
achievements could differ materially from those set out in the
forward-looking statements as a result of, among other factors,
changes in economic, social, political and market conditions,
including related to inflation or international conflicts, the
success of business and operating initiatives, changes in the
regulatory environment and other government actions, including
environmental approvals, fluctuations in gold prices and exchange
rates, the outcome of pending or future litigation proceedings, any
supply chain disruptions, any public health crises, pandemics or
epidemics (including the COVID-19 pandemic), and other business and
operational risks and challenges and other factors, including
mining accidents. For a discussion of such risk factors, refer to
AngloGold Ashanti Limited’s annual report on Form 20-F for the year
ended 31 December 2022 filed with the United States Securities and
Exchange Commission (“SEC”) and AngloGold Ashanti’s registration
statement on Form F-4 initially filed with the SEC on 23 June 2023.
These factors are not necessarily all of the important factors that
could cause AngloGold Ashanti’s actual results, performance,
actions or achievements to differ materially from those expressed
in any forward-looking statements. Other unknown or unpredictable
factors could also have material adverse effects on AngloGold
Ashanti’s future results, performance, actions or achievements.
Consequently, readers are cautioned not to place undue reliance on
forward-looking statements. AngloGold Ashanti undertakes no
obligation to update publicly or release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events, except to the extent required by applicable law. All
subsequent written or oral forward-looking statements attributable
to AngloGold Ashanti or any person acting on its behalf are
qualified by the cautionary statements herein.
Non-GAAP financial measures
This communication may contain certain “Non-GAAP” financial
measures. AngloGold Ashanti utilises certain Non-GAAP performance
measures and ratios in managing its business. Non- GAAP financial
measures should be viewed in addition to, and not as an alternative
for, the reported operating results or cash flow from operations or
any other measures of performance prepared in accordance with IFRS.
In addition, the presentation of these measures may not be
comparable to similarly titled measures other companies may
use.
Mineral Reserves, Mineral Resources and Exploration Results
Disclosure
In this communication, AngloGold Ashanti relies on information
publicly disclosed by G2 pertaining to the OKO Main Zone deposit
and by Reunion Gold pertaining to the OKO West discovery. AngloGold
Ashanti has not independently verified this information and is not
treating such information as a current estimate of Mineral
Resources, Mineral Reserves or exploration results.
Website: www.anglogoldashanti.com
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version on businesswire.com: https://www.businesswire.com/news/home/20231218026820/en/
Media
Andrea Maxey +61 08 9435 4603 / +61 400 072 199
amaxey@anglogoldashanti.com
General inquiries media@anglogoldashanti.com
Investors
Andrea Maxey +61 08 9435 4603 / +61 400 072 199
amaxey@anglogoldashanti.com
Yatish Chowthee +27 11 637 6273 / +27 78 364 2080
yrchowthee@anglogoldashanti.com
Website: www.anglogoldashanti.com
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