This article is 4 years old. Images might not display.
The buyer is Asante Gold Corp, listed on the Canadian Securities Exchange and currently capitalised at about C$55 million.
Asante's board and management include former execs with PMI and Cardinal, with the company planning a co-listing of its shares on the Ghana Stock Exchange.
Resolute said the initial US$30 million payment would be applied to repayment of debt, which, as of June 30, stood at net $220 million.
Another $30 million payment from Asante is due six months from deal completion, while the final $30 million follows a further six-month period.
Resolute's previous attempt to sell Bibiani fell through when the prospective buyer - China's Chifeng Jilong Gold - pulled out after Ghana's minerals commission canceled the lease for the mine, even though it was subsequently restored.
