Keegan Resources buys Ghana mining concession for $1.1m

Keegan Resources Ghana Limited has bought the 10.4 square km Dawohodo prospecting concession from Dawohodo Marketing and Manufacturing Ltd, a private Ghanaian company in exchange for $1.1million.

According to Keegan Resources, Ghana’s Mineral Commission recommended that the purchase of the concession should be approved by the Ministry of Lands, Forests, and Mines and the Ministry has done so.

“Keegan is pleased to announce that its fully owned subsidiary, Keegan Resources (Ghana) Ltd has completed the purchase of the 10.4 square km Dawohodo prospecting concession from Dawohodo Marketing and Manufacturing Ltd, a private Ghanaian company in exchange for US$1.1 m”, a press release issued on its website dated February 22, 2011 has said.

According to the release, Keegan plans to immediately commence surface exploration in the area in preparation for exploratory drilling.

“The acquisition of the Dawohodo concession provides an additional piece of ground which can be used in the development of the Esaase Project. In addition to the surface exploration programs, we will be able to undertake additional optimization studies for enhanced project facilities layouts with this additional area now under our control. We are happy that we have been able to finalize this strategic land acquisition”, Keegan’s President and CEO Maurice Tagami states.

Keegan is a junior gold company offering investors the opportunity to share ownership in the rapid exploration and development of high quality pure gold assets

By Ekow Quandzie