Kinross Gold partially divests shares in Asante Gold

Core Insights - Kinross Gold has sold 29,850,984 common shares of Asante Gold, representing approximately 4.2% of Asante's outstanding shares and about 44.7% of Kinross's holdings in Asante [1] - The shares were sold at C$1.55 each, resulting in a total sale price of C$46.2 million [1] - Following the sale, Kinross's stake in Asante is now approximately 5.2% on a non-diluted basis and 13.2% on a partially diluted basis [2] Group 1: Transaction Details - The sale was part of Kinross's regular investment portfolio management [3] - Kinross currently holds 36,927,650 shares, 5,000,000 warrants, and a convertible debenture that can be converted into shares at C$1.81 within five years [2] - Asante's president and CEO noted that the shares sold were part of the consideration when Kinross sold the Chirano Mine to Asante in 2022 [3] Group 2: Future Considerations - Kinross has indicated that future transactions involving Asante's securities may occur based on market conditions, but there are no specific plans at this time [3] - Asante recently secured C$237 million through a private placement as part of a larger $500 million financing package for advancing its mining projects [4] - The private placement involved selling 163.3 million subscription receipts at C$1.45 each, with funds released after meeting escrow conditions [5]