29/03/2010 - 10:57

Resolute sells Ghana assets to Viking

29/03/2010 - 10:57

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Resolute Mining will spin out its gold assets in Ghana to Osborne Park-based Viking Ashanti, which plans to open its $8 million initial public offer shortly.

Resolute sells Ghana assets to Viking

Resolute Mining will spin out its gold assets in Ghana to Osborne Park-based Viking Ashanti, which plans to open its $8 million initial public offer shortly.

Resolute today said that Viking had lodged its prospectus with the Australian Securities and Investments Commission, with the IPO offering 26.67 million shares at 30 cents each to raise the $8 million.

Resolute has agreed to sell its Ghana gold assets for 20 million Viking shares and will emerge with a 33.2 per cent stake in Viking post IPO.

Shareholders in Resolute will have the opportunity to participate in a priority offer of Viking's shares.

On the Viking board are chairman Jack Gardner, managing director Peter McMickan and non-executive directors Trygve Kroepelien and Mark Newlands.

Viking expects to list on the Australian Securities Exchange on May 5.

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