India, July 23 -- Blue Gold Limited (BGL), a gold development and technology company, Wednesday said it has signed a non-binding term sheet with FGR Bogoso Prestea Limited to acquire 90% of the Mampon Gold and Copper Mine, located at Ashanti Gold Belt in Ghana.
As per the non-binding term sheet, Blue Gold would acquire 90% stake in a Ghana-based company to which the Mampon mining lease would be transferred, with the remaining 10% held by the Government of Ghana. Initially, Blue Gold would issue shares worth about $26.25 million, based on $35 per share. Additionally, for every ounce of confirmed gold, Blue Gold will pay up to $45 per ounce, capped at 6 million ounces, and for every ton of confirmed copper, it will pay up to $55 per ton, cap...