Galiano Gold to acquire a 45% stake in Asanko Gold Mine from Gold Fields for $170m.

Galiano Gold, a company that engages in the exploration, development, and production of gold properties, agreed to acquire a 45% stake in Asanko Gold Mine, a gold mine located in Ghana, from Gold Fields, a gold mining company, for $170m. "This transaction marks a significant value adding event for the shareholders of Galiano, transforming the Company into a relevant, emerging mid-tier gold producer by consolidating one of the largest gold producing mines in West Africa. Upon closing of the Acquisition, Galiano immediately doubles attributable gold production and will further increase this to an expected average of 240,000 ounces per year over the life of mine. The transaction structure results in a strongly accretive acquisition and galvanizes a significant rerate opportunity for our shareholders. This includes Gold Fields, who continue to be a supportive shareholder through an increased share ownership In Galiano," Matt Badylak, Galiano President and CEO.