[miningmx.com] — ANGLOGOLD Ashanti now holds a 19.9% stake in exploration and development company Mariana Resources.
Mariana Resources, which is listed on London’s AIM and the Toronto Stock Exchange, said on Monday that it had issued 45.4 million shares to AngloGold Ashanti for gross proceeds of about R70.6m.
The company said the shares would be listed on AIM and the TSX from Tuesday, with the Canadian shares carrying a restriction that the shares may not be sold or offered for sale in Canada until after April 13, 2012.
In November, Mariana announced that AngloGold had agreed to subscribe for 45 million shares in Mariana at a price of 12 pence per share.
The terms of the agreement included a right for AngloGold to maintain its equity of 19.9% in Mariana in the event of further issues by Mariana.
When Mariana exercised its option to acquire Iamgold Corporation’s 30% interest in the Santa Cruz Joint Venture, AngloGold elected to maintain its interest by subscribing for an additional 418,212 shares at 9.41 pence per share.
Mariana Resources’ portfolio of gold, silver and copper projects is focussed in Santa Cruz province, Argentina and Chile.
