Fortuna completes acquisition of Chesser, strengthening West African presence
Canadian precious metals minerFortuna has closed the previously announced acquisition of gold exploration company Chesser Resources.
Fortuna acquired 100% of the fully paid ordinary shares of Chesser in consideration for about 0.02 of one common share of Fortuna (each whole share) for each Chesser share held.
On closing, Fortuna issued 15 545 368 Fortuna shares in exchange for the Chesser shares, representing about 5.1% of the resulting issued and outstanding Fortuna shares on an undiluted basis.
“The acquisition of Chesser expands Fortuna’s presence in West Africa to include the preliminary economic assessment stage Diamba Sud gold project in Senegal, a new and emerging gold discovery in the region,” states Fortuna.
Chesser holds tenements in Senegal, covering about 872 km2 of prospective ground located close to, and sharing similar geological features with, nearby tier one gold mines.
Diamba Sud is comprised of four open-pittable high-grade gold deposits, along with numerous anomalies yet to be tested. Fortuna will prioritise exploration to expand the mineral resource at Diamba Sud before advancing the project to the development stage.
“With the acquisition of Chesser, Fortuna continues to strengthen its presence in West Africa. Senegal is a mining-friendly and highly prospective jurisdiction, and we are excited about the growth potential that Chesser’s Diamba Sud gold project provides,” states Fortuna CEO and president Jorge A. Ganoza.
“We look forward to integrating Diamba Sud into our global portfolio, focusing on exploration to unlock value, and partnering with the local communities and stakeholders as we continue to advance the project,” Ganoza concludes.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
