18th Aug 2020 18:03
Shanta Gold Ltd - East Africa-focused gold producer - Says it expects to complete the acquisition of Acacia Exploration Kenya Ltd from three subsidiaries of Barrick Gold Corp on Wednesday. Closing of the transaction is now conditional on admission of 54.7 million shares which will be admitted to trading on Wednesday
In February, Shanta announced the purchase of Acacia Exploration, adding that it will pay USD7 million in cash to Barrick and USD7.5 million in shares, as well as a 2% life-of-mine net smelter return royalty. Following completion, Barrick will become Shanta's fifth-biggest shareholder with a 6.4% stake.
Current stock price: 17.25 pence
Year-to-date change: up 81%
By Ife Taiwo; [email protected]
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