Key Developments For Randgold Resources Limited
Randgold Resources Limited (GOLD.O) (Nasdaq)
Randgold Resources Ltd. Completes Sale Of Transaction With Volta Resources Inc
Randgold Resources Ltd. announced that it has completed the sale of its interest in the Kiaka license, camp assets and licence data to Volta Resources Inc (Volta) for a cash consideration of CAD4,000,000 and an aggregate of 20,000,000 common shares of Volta. As a result of this transaction, based on publicly available information, Randgold Resources Ltd. will hold 20,000,000 common shares, representing approximately 27.3% of the issued and outstanding common shares, acquired pursuant to an asset acquisition exemption under applicable securities laws.
Volta Resources Inc. Closes Transaction On Advanced Kiaka Gold Project In Burkina Faso With Randgold Resources Limited
Volta Resources Inc. announced that it has received shareholder approval for the Kiaka gold project transaction (the Acquisition) with Randgold Resources Limited. As a result, Volta has completed the Acquisition. The purchase price consisted of cash consideration of $4,000,000 and 20,000,000 common shares of Volta to be paid and issued, as applicable, over a period of 24 months following closing.
Randgold Resources Limited And AngloGold Ashanti Limited To Increase Stake In Moto Gold Project
Randgold Resources Limited announced that, together with AngloGold Ashanti Limited, it has entered into a definitive agreement with L'Office des Mines d'Or de Kilo-Moto (OKIMO) to purchase an additional 20% stake in the Moto gold project for an aggregate consideration of approximately USD113.6 million. The consideration is to be funded equally by Randgold and AngloGold, with Randgold funding its share of the consideration from existing cash resources. Following completion of the Acquisition, Randgold and AngloGold will together hold a 90% interest in Kibali Goldmines through Kibali (Jersey) (both directly and indirectly) and OKIMO will remain a joint venture partner in Kibali Goldmines with a 10% direct interest, maintaining the continued vested interest of the Government of the DRC in the Moto Gold Project. As part of the Acquisition, the joint venture agreement which governs the operation of Kibali Goldmines and the Moto Gold Project is being amended to reflect the reduced holding of OKIMO and the increased indirect holding of Randgold and AngloGold in Kibali Goldmines and the Moto Gold Project.
Randgold Resources Limited Signs Agreement To Sell Entire Interest In Kiaka Gold Project To Volta Resources Inc
Randgold Resources Limited announced that it has signed a definitive agreement with Volta Resources Inc (Volta) to sell its entire interest in the Kiaka gold project in Burkina Faso to Volta for an aggregate cash consideration of CAD4 million and an aggregate share consideration of 20 million common shares in Volta, to be paid and issued over a period of 24 months.
Volta Resources Inc. Signs Definitive Agreement To Purchase Advanced Kiaka Gold Project In Burkina Faso From Randgold Resources Limited
Volta Resources Inc. announced that it has signed a Definitive Agreement with Randgold Resources Limited to purchase a 100% interest in the Kiaka Gold Project in Burkina Faso, subject to a free participating right of 10%, up to a full feasibility study (held by a local Burkinabe company), for a combination of cash and shares of Volta. The purchase price will consist of cash consideration of CAD4,000,000 and 20,000,000 common shares of Volta. The aggregate consideration shall be paid and issued, as applicable, over a period of 24 months following the date of closing of the Acquisition as follows: (a) 13,300,000 common shares on the Closing Date; (b) $1,000,000 cash on the date that is 6 months following Closing Date; and (c) $1,000,000 cash and 2,233,333 common shares on the dates that are 12, 18 and 24 months following the Closing Date. Each of Volta and Randgold has the option to elect to accelerate the issuance of the consideration shares such that all of such shares are issued upon closing. All shares that are to be delivered on closing shall be placed in escrow pending proof of recordation of the licence comprising the Kiaka Gold Project into Volta's name.
