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Viking Mines Looks To Monetise Akoase Gold Project

Viking Mines (ASX:VKA) has granted Ghanaian company Akroma Gold Co. Ltd a three month exclusivity period to undertake due diligence to acquire its Akoase gold project in southern Ghana.

The project would now be considered non-core given the progress of its advanced Mongolian coal project.

The due diligence will allow Akroma to negotiate a transaction with Viking in relation to the Akoase project at any time within that three month period.

Akroma, which owns the Sian gold project about 12 kilometres northwest of Akoase, will pay an option fee of U$90,000 for the exclusivity period.

Akoase has a JORC Inferred Resource of 790,000 ounces of contained gold. It is located 150 kilometres north of Accra, and 25 kilometres from Newmont's Akyem gold mine of the Ashanti Gold Belt.

Analysis

The exclusivity period has the potential to result in a monetisation event for Akoase, now a non core gold project.

Promisingly for that, Akroma already owns the neighbouring Sian gold project, with the company clearly looking to increase its footprint in the area.

Viking is squarely focused on the development of its advanced coal project in Mongolia. Last week Viking signed a second future coal supply agreement with a Mongolian Government power authority for its Berkh Uul Bituminous Coal Project in northern Mongolia.

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