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  • Viking Ashanti Is Close To Announcing Corporate Transaction 0 comments
    Feb 24, 2013 6:51 PM

    Viking Ashanti (ASX: VKA) has entered into a Non-binding Heads of Agreement and an Exclusivity Agreement with a third party in relation to a potential corporate transaction.

    The third party has projects in Ghana that have clear operational synergies with Viking's existing asset portfolio.

    Viking said there is no certainty that any transaction will result.

    During the exclusivity period, due diligence will be completed and definitive agreements are expected to be negotiated.

    Viking is heading for a Resource base of over 1 million gold ounces in Ghana as it continues to identify prospective gold targets at its Akoase project.

    The company has drill tested 6 kilometres of the 11 kilometre long Kadewaso trend that is host to the 700,000 ounce Akoase East Resource. The remaining 5 kilometres needs more evaluation.

    However, Viking believes positive early results on broad spaced shallow drilling at the Andy Hills and Dave Flats prospects supports the probability of additional resources being defined.

    Viking hopes to register a significant increase in the Akoase East Resource with additional infill drilling.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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