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Asanko Gold to acquire PMI in stock deal valued at C$183M

Dec. 17, 2013 8:27 AM ETGaliano Gold Inc. (GAU) StockGAU, PMVGFBy: Carl Surran, SA News Editor
  • Asanko Gold (NYSEMKT:AKG) agrees to acquire PMI Gold (OTC:PMVGF) in an all-stock transaction valued at ~C$183M, to create an emerging mid-tier gold producer with a pathway to 400K oz. of annual gold production.
  • A highlight of the deal will be the combination of the neighboring Esaase and Obotan gold projects in Ghana, with a combined resource base of 7.5M oz. measured and indicated resources and an additional 2.9M oz. inferred resources, of which 4.8M oz. are proven and probable mineral reserves.
  • A merger attempt last year by the two Ghana miners was dropped when it appeared the deal wouldn't get enough support from PMI shareholders.

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