DeSoto Resources Broadens Presence in Guinea through Strategic Acquisition of Gold Portfolio

DeSoto Resources ventures into Guinea with gold acquisition

DeSoto Resources (ASX: DES) has announced its intentions to establish a presence in Guinea through the purchase of a premier gold portfolio. The company has signed a binding agreement to take over Angex Australia, a private firm that oversees 14 gold projects in the West African country.

This tactical decision positions DeSoto Resources to engage with Guinea’s promising gold sector, utilizing both the geological opportunities and the proficiency of Angex Australia’s seasoned team in West Africa. The acquisition is anticipated to introduce state-of-the-art exploration technology and cutting-edge methodologies to DeSoto’s asset collection, enhancing its capacity to realize value from these initiatives.

Guinea is acknowledged as a prolific gold-producing area, housing multiple world-class deposits. By establishing a presence in this territory, DeSoto Resources aims to bolster its role in the global gold market while expanding its asset diversity beyond Australia. The company’s growth strategy is in line with its goal to seize high-grade gold possibilities in less-explored areas.

Strategic advantages of acquiring Angex Australia

The takeover of Angex Australia offers DeSoto Resources a significant strategic edge, providing access to a portfolio of 14 gold projects in Guinea, a locale recognized for its abundant mineral resources. This action not only broadens DeSoto’s asset portfolio but also integrates a highly skilled West African exploration team into its operations.

The Angex Australia team brings substantial regional proficiency, which is expected to expedite exploration and development activities. Their understanding of Guinea’s geological environment, paired with advanced exploration methodologies, positions DeSoto to effectively evaluate and unlock the potential of these gold resources.

Furthermore, the acquisition brings new technology and modern exploration methods into DeSoto’s portfolio. By employing contemporary geophysical and geochemical strategies, the company aims to enhance resource identification and refine project development plans.

From a financial viewpoint, this acquisition bolsters DeSoto’s growth path by diversifying its engagement with high-grade gold projects outside of Australia. With gold prices remaining robust, the company is well-placed to take advantage of the rising demand for the precious metal while broadening its presence in a key global mining jurisdiction.