Asanko Gold Inc. has announced a settlement agreement with a private Ghanaian company, Goknet Mining to eliminate Goknet's claim for a 2% net smelter return ("NSR") royalty on Phase 1 of the Company's flagship Asanko Gold Mine Project.
The only material royalty now applicable to Phase 1 of the Project is the Government of Ghana's 5% NSR royalty.
The financial terms of the Agreement are confidential; however they are not considered material to Asanko.
The settlement involves cash, one million Asanko shares and the transfer to Goknet of two non-material exploration projects, Kubi and Diaso.
Included in the agreement, the Company will retain a right to match any future offer made to Goknet with respect to a disposal of the Diaso Project concessions.
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