By Anthony O. Goriainoff
Shanta Gold Ltd. said it expects to complete the acquisition of Acacia Exploration Ltd. from Barrick Gold Corp on Wednesday.
The London-listed, East Africa-focused gold producer said that closing of the transaction is conditional on admission to AIM of 54.7 million consideration shares.
The company said in February it was acquiring Acacia Exploration, a Kenya-based company that has a 100% participating interest in licenses held by AfriOre Ltd., which includes an existing high-grade resource.
The company said at the time that Barrick Gold would become its fifth largest shareholder with a 6.4% interest.
Shares at 0730 GMT were down 0.37 pence, or 2.2%, at 16.88 pence.
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