Ghana (Gold) – In February of 2021, Emiral formed a local wholly owned subsidiary — Emiral Resources Ghana Ltd.
Emiral took an active interest in Ghana, the country primarily known for its gold reserves.
Today, Emiral continuously performs initial exploration on over 170 sq.km divided into 3 prospecting blocks.
Furthermore, the company has acquired 19.7% shares in the Asante Gold company, with Emiral’s CEO, Mr. Alexander Smirnov, joining Asante’s board. The $44 million investment into Asante Gold is part of an institutional placement and share purchase plan for their acquisition of Resolute’s Bibiani Gold Mine.
Highlights
- Asante Gold is a $0,5 bln market cap company
- Emiral’s investments in the company totals $45 mln
- Bibiani & Chirano mines:
- residual resources – 5,2 Moz (162 t) of gold
- 400-450 koz (12,5-14 t) of gold production annually
- ongoing Bibiani underground & satellite pits, Chirano open pit and underground mine development and updated resources
- extensive regional exploration and expansion potential, including near mine exploration program to expand mines life from ~8 years to 10+ years