Glencar Mining completes sale of Wassa Gold

Glencar Mining PLC said the purchase of the Wassa Gold Project by Golden Star Resources Ltd from the receiver of its 59.4% owned Satellite Goldfields Ltd subsidiary has now been completed following approval from the Central Bank of Ghana.

Glencar said senior secured lenders have now indicated that they are prepared to release Glencar from a guarantee it provided to the Wassa Gold Project provided the subordinated lender CDC Group PLC also agrees to release its claim to the guarantee. CDC's response is awaited.

Glencar Mining PLC said the purchase of the Wassa Gold Project by Golden Star Resources Ltd from the receiver of its 59.4% owned Satellite Goldfields Ltd subsidiary has now been completed following approval from the Central Bank of Ghana.

Glencar said senior secured lenders have now indicated that they are prepared to release Glencar from a guarantee it provided to the Wassa Gold Project provided the subordinated lender CDC Group PLC also agrees to release its claim to the guarantee. CDC's response is awaited.