Kinross Gold Sold its Entire Stake in Asante Gold
Mining News | 2025-09-24 12:10:48
Prior to the sales, Kinross held approximately 5.2% of the outstanding shares and up to 13.2% of the shares, on a partially-diluted basis.
By Paul Ploumis
SEATTLE (Scrap Monster): Leading Canadian miner Kinross Gold announced that it has sold its entire stake in Asante Gold, at a discount. The reason for the divestment was not disclosed.
Kinross Gold sold approximately 36.93 million of Asante’s shares, representing 5.2% of those outstanding, at a price of C$1.80 per share. An aggregate of 36,927,650 common shares were sold for an aggregate sale price of C$73,116,747. Prior to the sales, Kinross held approximately 5.2% of the outstanding shares and up to 13.2% of the shares, on a partially-diluted basis.
The deal takes place one week after Asante God's Q2 fiscal 2026 results were mixed. Although it restated its previously stated guidance for the entire fiscal year, the company reported a decline in production and increased losses.
Subject to a hold period until mid-December 2025 under applicable Canadian securities rules, the shares were offered through a private placement.
Kinross sold 29.85 million Asante shares two weeks ago for C$1.55 a share, which accounted for roughly half of Kinross's total shareholdings and 4.7% of Asante's capital.
Kinross Gold, a senior gold mining company based in Toronto, Canada, has a varied portfolio of mines and projects in the United States, Canada, Brazil, Chile, and Mauritania.
YOU MAY ALSO BE INTERESTED IN:
POLL
How could investors view Kinross’s future after this divestment?
Frequently Asked Questions
- Why did the sale take place shortly after Asante Gold’s Q2 results?
- The sale occurred after Asante reported mixed Q2 fiscal 2026 results, including a decline in production and increased losses, though the company restated its full-year guidance.
- Are there any restrictions on the sold shares?
- Yes, the shares are subject to a hold period until mid-December 2025 under Canadian securities rules.
- How many Asante shares did Kinross sell and at what price?
- Kinross sold approximately 36.93 million shares, representing 5.2% of Asante’s outstanding shares.
