GOLD FIELDS LIMITED INVESTORS AND MEDIA Media release
Johannesburg, 5 March 2024: Gold Fields (JSE, NYSE: GFI) is pleased to announce that, further to the media release of 21 December 2023 regarding divestment of the Gold Fields Group's 45% effective interest in the Asanko Gold Mine in Ghana to Galiano Gold for gross proceeds of US$170m plus a 1% net smelter royalty on future production from the Nkran deposit, all conditions precedent have been fulfilled and the transaction closed on 4 March 2024.
Gold Fields has received US$65m in cash and 28,500,000 shares in Galiano Gold as upfront proceeds for the divestment. The remaining gross proceeds will be settled through deferred and contingent payments as follows:
- US$25m to be paid on or before 31 December 2025;
- US$30m to be paid on or before 31 December 2026; and
- US$30m plus a 1% net smelter royalty to be paid once more than 100koz of gold equivalent is produced from the Nkran deposit at the mine. The royalty paid is to be capped at a volume of 447koz.
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Gold Fields Ltd. published this content on 05 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 March 2024 11:52:04 UTC.
