AngloGold Ashanti has officially exited its investment in G2 Goldfields, selling its entire 14.95% stake (35,948,965 shares) in a single market transaction on July 8, 2025, at 2.75/share for just under CAD 99 Million.
The shares were placed with two “large European institutional investors”, with one taking up approximately 23 million shares, about 9.5% of $GTWO —just under the 10% threshold where they would have to disclose and register as an insider to the TSX… Interested to know if it’s a passive or active fund (a la La Mancha)?
This opens up the playing field once again.
A nice transaction for AngloGold
AngloGold invested a total of CAD 38.675 Million starting in January 2024, with the bulk of the investment, CAD 35MM, made in two Private Placements in January and August 2024, at CAD 0.90 and 1.45/share, respectively. The balance was purchased in on-market transactions in the summer and fall of last year at between CAD 1.33-2.16/share.
At an average purchase price of 1.08/share, AngloGold made CAD 60 Million on their investment— 2.56x in just over 18 months. Not bad, beats the returns on actual mining…
What’s next for G2—and G3?
Now that Anglo is out, this puts the company firmly back “in play.” Will this bring GMIN into the picture? They are the most logical buyer, owning Block 4, the southern extension of the deposit they purchased from Reunion.
G2 will also have to sort out its G3 spinoff. It always seemed a bit too “ambitious” the number of properties that were being siphoned off to the new explore-co, on the assumption that the Oko-Ghanie deposit would be enough to satisfy any buyer? Some of them are clearly an extension of, if not a satellite to, the main deposits as they clearly stated in the latest news release:
“The New Oko Discovery has led to a management review of both “core” and “non-core” assets within the G2 property portfolio, and the New Oko Discovery as well as certain on-strike properties are currently considered by the Company to be “core” assets.”
I was always surprised AngloGold had OK’d that.
We will now have to wait until end of summer for the next Resource update, and whether they will be “completing any [my emphasis] proposed spin-out of its non-core assets in Q4 2025.” PEA should also be ready in Q4 ’25.
Read more here:
G2 NR, July 10, 2025: https://www.globenewswire.com/news-release/2025/07/10/3113105/0/en/G2-Goldfields-Provides-Comments-on-Recent-Trading-Activity-and-General-Corporate-Update.html
CEO.CA SEDI Filings https://ceo.ca/insiders-dashboard?symbol=GTWO&insider=Anglo
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