Asante secures $470m in credit and equity commitments
Gold producer Asante Gold has secured $470-million in credit and equity commitments, laying the foundation for a financing package that will fund its growth ambitions and recapitalise its balance sheet. The commitments include a $175-million package from private funds advised by Appian Capital Advisory and a $170-million credit and underwrite commitment from Rand Merchant Bank (RMB), a division of FirstRand Bank. The financing also supports the elimination of short-term liabilities, including those owed to Kinross, and underpins plans to ramp up production to more than 500 000 oz/y by 2028.
