Gold Fields boosts stake in Suriname-focused Founders for $55M
The deal helps Founders buy out Nana Resources, its local partner at the Antino gold project.
Gold Fields, a major global miner, has increased its stake in Suriname's Founders Metals through a $55.7 million investment. This brings Founders' ownership to just under 20%. The deal allows Founders to acquire Nana Resources' 30% share in the Antino gold project for $17 million in cash, 13.6 million shares, and potential milestone payments of up to $21 million.
The Antino district spans 1,024 sq. km and is one of Suriname's largest contiguous gold land packages. Gold Fields will acquire 14.1 million Founders shares at $5.44 each, increasing its stake from around 12%. The transaction supports Founders' exploration efforts and marks a shift in Founders' ownership approach.
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