Kinross Gold (TSX: K, NYSE: KGC) has sold its entire shareholding in Asante Gold (TSXV: ASE) at a discount, according to a disclosure filed Tuesday. The Canadian miner gave no reason for the divestment, which comes just as Asante prepares to broaden its investor base with a TSX Venture Exchange listing.
An early warning report shows Kinross disposed of approximately 36.93 million shares, representing 5.2% of Asante’s outstanding stock, at C$1.80 per share. The move follows an earlier block sale of 29.85 million shares at C$1.55 per share two weeks ago—nearly half of Kinross’s entire holding at the time.
Together, the sales generated C$119.4 million ($87 million) in proceeds. The most recent disposal was made even as Asante’s shares climbed to a 52-week high of C$2.29, giving the Ghana-focused gold miner a market capitalization of about C$1.6 billion ($1.2 billion).
Asante, which operates the Bibiani and Chirano mines in Ghana alongside exploration projects in the country, had posted mixed fiscal Q2 2026 results last week, with output slipping and losses widening, though management reaffirmed full-year guidance.
Kinross emphasized that it remains a “supportive investor” through its convertible instruments, which on a partially diluted basis would still give it an 8.4% stake. The company had previously owned and operated the Chirano mine for more than a decade before selling it to Asante in 2022.
The exit marks a notable shift in Kinross’s West African footprint and comes at a time when Asante is seeking to deepen capital markets access. Trading on the TSX Venture Exchange is scheduled to commence Wednesday.
Source: Kinross official Website
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