On July 27, 2020, Golden Star Resources Ltd.("Golden Star"), an established gold mining company that owns and operates underground mines in Ghana, West Africa, announced that it entered into a binding agreement for the sale of its 90% interest in the Bogoso-Prestea Gold Mine in Ghana to Future Global Resources Limited for a purchase price of US$55 million with a further contingent component of up to US$40 million.
Golden Star's balance sheet is strengthened by the sale and this transaction will allow it to accelerate the growth and development of other mining projects, in particular, the Wassa mine.
The transaction is expected to close by September 30, 2020
Fasken advised Golden Star Resources Ltd. with a team lead by John Sabetti which included John Turner and Laura Konkel (M&A) and Mitchell Thaw (tax).
Jurisdiction
- Ontario
