Nigeria: ASCOM subsidiary receives 5.75mln shares in Kumruk project sale

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This share transfer represents 50% of the installment due for that month, as part of an ongoing payment agreement

Staff Writer, Arab Finance

October 3, 2024

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ASEC Mining Company (ASCOM) announced that its fully owned subsidiary, APM Investment Holdings BVI, received 5.75 million shares from Canadian Allied Gold Corp in September as an installment for selling its stake in Kurmuk project, as per a disclosure.

This share transfer represents 50% of the installment due for that month, as part of an ongoing payment agreement.

Previously, ASCOM disclosed that APM Investment Holdings had sold its 35% stake in Ethiopia's Kurmuk gold exploration project to Allied Gold Corp.

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