Bacchus Capital Leads Third Successive Gold Sector M&A Transaction in 2020

LONDON, July 28, 2020 /PRNewswire/ -- Bacchus Capital, the independent London-based investment and merchant bank specialising in cross-border public market M&A, is pleased to advise that its client, Golden Star Resources, a low-cost West African gold producer listed on the NYSE, the TSX and the Ghanaian stock exchanges, has announced the sale of its Bogoso-Prestea gold mine in Ghana to Future Global Resources ("FGR").

The Bogoso-Prestea gold mine, located in south-western Ghana approximately 40km from Golden Star's world-class Wassa gold mine, consists of the operating Prestea underground mine and the Bogoso refractory open pit operation, which FGR will aim to restart following a refurbishment of the refractory processing plant.

FGR is a newly established privately owned mining company with a focus on the African continent. Bogoso-Prestea is FGR's first acquisition. FGR's principal shareholder, Blue International Holdings Ltd, is a UK based private investment group and the largest investor in Joule Africa Limited, a developer, owner and operator of sustainable power projects in sub-Saharan Africa.

This is the third cross-border M&A transaction in the gold sector led by Bacchus Capital so far in 2020, following the successful contested public takeover of Canadian listed Core Gold by Bacchus Capital's Australian client, Titan Minerals, and the ongoing hotly contested public market takeover of ASX-listed Cardinal Resources by Bacchus Capital client, UK company Nordgold, in competition with Shandong Gold.

About Bacchus Capital Advisers

Bacchus Capital was established in 2017 by Peter Bacchus, former Global Head of Mining and Metals Investment Banking at Morgan Stanley, in order to bring traditional investment banking values of independence, objectivity and trust to an expanded client base, which includes some of the largest and leading companies in the natural resources sector, alongside some of the industry's most interesting and innovative growth companies. His co-founders are Paul Cahill, former Group Head of Business Development at Anglo American plc; Chris Johannsen, previously a founder of Australian boutique advisory firm Gryphon Partners; and former Morgan Stanley banker, Richard Allan.

Bacchus Capital Advisers was established as an independent merchant banking platform specialising in public market M&A. Bacchus Capital Advisers is headquartered in Central London, with representation in Asia, the United States and Australia.

Media Enquiries:
Peter Ogden
Powerscourt
+44(0)20-7549-0997

SOURCE Bacchus Capital Advisers

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