Kinross (KGC) Converts $80M Asante Debenture Into Common Shares

Core Insights - Kinross Gold Corporation has converted a secured convertible debenture worth approximately $80 million into common shares of Asante Gold Corporation, resulting in the issuance of 61,735,867 shares at a price of C$1.81 per share ($1.30) [1][2] Group 1: Financial Impact - The conversion extinguishes all obligations related to the debenture, meaning it is no longer outstanding [1] - Following the conversion, Kinross's ownership stake in Asante increased to approximately 13–18% on a partially diluted basis, up from a previous ownership of 5.2% (non-diluted) and 9.4% before a prior sale in September 2025 [3] Group 2: Company Overview - Kinross Gold Corporation operates gold mines across the Americas and West Africa, with core assets including the Tasiast mine in Mauritania, Paracatu in Brazil, and La Coipa in Chile [4] - The company also has development-stage projects such as Manh Choh in Alaska, primarily offering gold bullion and silver by-products [4]