March 29, 2018 / 7:49 AM / a month ago

BRIEF-Asanko Gold To Receive $185 Mln From Gold Fields For 50 Pct JV Interest

March 29 (Reuters) - Asanko Gold Inc:

* ASANKO GOLD TO RECEIVE US$185 MILLION FROM GOLD FIELDS FOR 50% JOINT VENTURE INTEREST AND US$17.6 MILLION FOR 9.9% PRIVATE PLACEMENT IN ASANKO GOLD

* WILL USE THE PROCEEDS PRIMARILY TO REPAY ITS OUTSTANDING RED KITE DEBT OF US$164 MILLION‍​

* ASANKO- ‍CO WILL REMAIN MANAGER & OPERATOR OF AGM, WILL CONTINUE TO BE PAID AN ARM’S LENGTH MANAGEMENT FEE FOR SERVICES RENDERED TO JV OF ABOUT $6 MILLION PER ANNUM​

* ‍ASANKO WILL RECEIVE US$185 MILLION FROM SUBSIDIARIES OF GOLD FIELDS LIMITED ​

* SEES 2018 GOLD PRODUCTION 200,000 OZ - 220,000 OZ

* SEES 2018 TOTAL CAPEX $19.5 MILLION Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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