By Adriano Marchese

G2 Goldfields said Tuesday that mining company AngloGold Ashanti intends to make a 22.1 million Canadian dollar ($16.5 million) investment in the company.

The Canadian miner said that it will issue 24.5 million shares to the South Africa-based company, which has confirmed its intention to complete the strategic investment.

The issued shares will represent an 11.7% stake in G2 Goldfields.

G2 Goldfields said that the net proceeds of the investment will be primarily used to advance exploration activities at its Oko project in Guyana.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 19, 2023 06:50 ET (11:50 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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