Kinross Sells Part of Its Asante Gold Shares but Keeps Key Investments

Kinross Gold Corporation has sold a large number of its shares in Asante Gold Corporation, but it still keeps an important stake in the company.

Kinross owned these shares. Back in 2022, AsanteGold bought the Chirano gold mine from Kinross. Part of the payment for the mine was not cash but shares of Asante, so Kinross became a shareholder in the company.

According to a statement by Asante Gold Corporation on September 8, 2025, cited by The High Street Journal, Kinross sold 29,850,984 AsanteGold shares. This is about 4.2% of all the shares AsanteGold has issued, and it represents 44.7% of the shares Kinross owned. The shares were sold at $1.55 each, which was 10% lower than the closing price on September 5, 2025.

Before this sale, Kinross owned around 9.4% of all AsanteGold shares, and if you count all the extra shares they could get later from financial instruments, their ownership could go up to 18% on a partially diluted basis. The partially diluted basis includes shares they might receive from warrants or convertible loans in the future.

After selling this portion, Kinross still owns 36,927,650 AsanteGold shares, plus 5,000,000 warrants, which are like tickets allowing them to buy more shares later at a fixed price. They also have a convertible debenture, a type of loan that can be converted into AsanteGold shares at C$1.81 per share over the next five years.

Because of these remaining shares and potential shares from the warrants and debenture, Kinross now owns about 5.2% of AsanteGold’s shares directly, and 13.2% on a partially diluted basis if you include the potential shares.

Speaking about the sale, Dave Anthony, President and CEO of AsanteGold, said: “This block of Shares was issued to Kinross as partial consideration when the Company purchased the Chirano Mine from Kinross in 2022. Kinross has been and remains a very supportive partner to Asante and we’re pleased that Kinross has been able to monetize this component of the original share consideration at an increase to the original value.”

Kinross sold nearly half of what it owned to get some money, but it still has a meaningful stake in AsanteGold. It also has options to increase its ownership in the future through the warrants and convertible debenture.

Investors now have a clear view of how much influence Kinross has in the company today and potentially in the years ahead.

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