AngloGold Ashanti (AGA) recently purchased 24.5 million shares in G2 Goldfields at C$0.90 per share for total consideration of $16.3 million. AGA now holds approximately 11.7% of G2, which is actively exploring the Guiana Shield in Guyana. The G2 team, led by Patrick Sheridan, executive chairman and Dan Noone, CEO, is comprised of professionals who have been directly responsible for the discovery of millions of ounces of gold in Guyana as well as the financing and development of Aurora, Guyana’s largest gold mine.

“This strategic investment in G2 will provide us with a strong position in one of the world’s key gold provinces with significant potential for new discoveries,” said Alberto Calderon, CEO of AngloGold Ashanti. “We look forward to G2’s continued exploration success as the Guiana Shield continues to develop.”

G2’s OKO project comprises the OKO Main Zone and Ghanie deposits. G2 announced, in April 2022, an indicated mineral resource estimate for the OKO Main Zone containing 220,000 oz gold (793,000 metric tons (mt) grading 8.63 g/mt gold) and an inferred mineral resource estimate of 974,000 oz gold (3.27 million mt, grading 9.25 g/mt gold). G2 said it intends to publish a mineral resource update in the first half of 2024.