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Highlights
Asante Gold receives significant financial commitments for growth and liabilities
Conditional approval granted for TSX Venture Exchange listing targeted for August
Multiple funding sources include debt facilities and gold stream arrangements
Asante Gold (CSE:ASE), operating within the broader All Ordinaries index, has initiated a pivotal step in its corporate development with the announcement of substantial financial backing and plans for a listing on the TSX Venture Exchange. The company is currently focused on advancing its gold production and exploration activities in Ghana.
The listing is anticipated to conclude by August, subject to meeting certain exchange requirements.
Capital Commitment Supports Recapitalisation and Project Advancement
Asante Gold has received a significant funding commitment from institutional backers aimed at supporting ongoing project development and restructuring short-term liabilities. A major portion of this financial arrangement has been orchestrated by Appian Capital Advisory, complemented by strategic support from FirstRand Bank’s Rand Merchant Bank division.
The financing structure includes both senior and subordinated debt facilities, along with a revolving credit line to ensure operational fluidity. These components are designed to span multiple years, with clearly defined maturity dates and interest terms benchmarked to industry standards.
Stream Financing Expands Financial Flexibility
In addition to the primary financing arrangement, Appian Capital Advisory will provide additional funding through a gold stream agreement. Under this agreement, a fixed proportion of gold produced from Asante's Bibiani and Chirano mines will be sold at a discounted rate for a specified period. This stream is structured to increase and decrease based on predetermined delivery thresholds.
The flexibility of this component is intended to allow Asante to manage its working capital and forward-looking operational expenditures more efficiently while securing the resources needed for asset expansion.
Equity Raise and Liabilities Settlement Under Review
As part of the total financing framework, the company aims to raise equity capital, a portion of which has already been received. This equity component is integral to the finalisation of related transactions and is subject to settlement agreements with existing stakeholders, including Kinross Gold.
Asante expects the full transaction suite—comprising the debt package, stream agreement, and equity raise—to close by July.
Leadership Confirms Strategic Vision Aligned with Asset Development
According to the company, the newly secured funding will assist in advancing its operational objectives over the coming years, including increased gold production capacity and enhanced exploration across its portfolio in Ghana. The development strategy is underpinned by a focus on optimising existing assets and leveraging new capital to pursue long-term growth across high-priority tenements.
With a substantial landholding encompassing prominent geological structures, Asante’s assets are positioned within one of West Africa’s most prolific gold belts, offering significant exploration upside.
