Kinross (KGC) Converts $80M Asante Debenture Into Common Shares

Kinross Gold Corporation (NYSE:KGC) is one of the top stocks to buy as gold rallies. On October 8, Asante Gold Corporation announced that Kinross Gold Corporation, which holds a secured convertible debenture issued on August 12, 2025, has elected to convert the full principal and accrued interest into common shares of Asante. The conversion amounts to around $80 million – the price was set at C$1.81 per share ($1.30). As a result, Asante will issue 61,735,867 shares to Kinross. With this conversion, all obligations relating to the debenture are extinguished, and the instrument no longer remains outstanding.

Following the conversion, Kinross’s stake in Asante is larger. And it (the conversion) follows Kinross’s earlier sale of Asante shares in September 2025. This previous sale reduced Kinross’s ownership from 9.4% to 5.2% (non-diluted basis), and up to 13.2% (partially diluted). After the debenture conversion, Kinross’s ownership in Asante increased to approximately 13–18% on a partially diluted basis.

Kinross Gold Corporation (NYSE:KGC) explores, develops, and operates gold mines across the Americas and West Africa. Its core assets include the Tasiast mine in Mauritania, Paracatu in Brazil, and La Coipa in Chile. The company also maintains development-stage projects such as Manh Choh in Alaska. Its primary offerings are gold bullion and silver by-products.

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Disclosure: None. This article is originally published at Insider Monkey.