Goldplat PLC (LON:GDP) shares surged in early afternoon trading Monday after partner Ashanti Gold Corp decided to exercise its earn-in option for 51% of the Anumso gold project in Ghana.
The miner said it was now conducting a review of Ashanti’s work on the licence as a formal part of the agreement, with both parties working on a development plan to advance the Anumso project.
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The earn-in agreement was originally executed in September 2016 and gave Ashanti the option for a US$3mln earn-in on the project.
Gerard Kisbey-Green, chief executive of Goldplat, said the move validated Ashanti’s confidence in the project and believed the move would “continue to add value to the asset”.
Goldplat shares were up 4.2% at 3.7p.