MINING MARKETS & INVESTMENT NEWS — Ashanti snaps up Samax, Geita

The Canadian subsidiary of Ashanti Goldfields (AHD-T) has purchased most of the shares of Samax Gold in order to acquire that company’s Geita property in Tanzania.

Ashanti nabbed 26.4 million Samax shares, or 98% of outstanding issues, for about $185 million. Ashanti says it will now go after the remaining 1.7% of the shares.

Meanwhile, shareholders of Thunderwood Resources and Joutel Resources have approved the proposed merger of those companies. The new company, Thundermin Resources, trades on the Toronto Stock Exchange under the symbol THR.