10:00 AM EDT, 09/08/2025 (MT Newswires) -- Kinross Gold ( KGCRF ) climbed 0.69% on the Toronto Stock Exchange after saying it sold 29,850,984 common shares of Asante Gold ( ASGOF ) . The sale represented about 4.2% of Asante's outstanding shares and 44.7% of the shares held by Kinross.

The shares were sold at $1.55 each, not including commissions, for total proceeds of about CA$46.3 million, the company said.

Before the sale, Kinross held about 9.4% of Asante's outstanding shares and as much as 18% on a partially diluted basis, assuming conversion of all convertible instruments. After the sale, Kinross holds 36,927,650 shares, 5 million warrants, and a convertible debenture allowing it to acquire additional shares at $1.81 each at any time within five years.

The company now owns about 5.2% of Asante on a non-diluted basis and 13.2% on a partially diluted basis.

Kinross said the shares were sold in the ordinary course of portfolio investments. The company added it may buy or sell Asante securities in the future depending on market conditions and other factors, though it currently has no specific plans related to its investment.

Depending on market conditions, general economic and industry conditions, Asante's business and financial condition and/or other relevant factors, Kinross may develop other plans or intentions in the future, it added.

Kinross shares were last seen trading up $0.21 at $30.84 on the TSX.

Price: 31.11, Change: +0.48, Percent Change: +1.57