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Acquisition of Asanko Gold (Tables) | 12 Months Ended
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Dec. 31, 2018
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Summary of Acquisition Date Fair Value of Major Class of Consideration Transferred | The following table summarises the acquisition date fair value of the consideration transferred:
|  | United States Dollar |
Figures in millions unless otherwise stated |  | 2018 |
Cash – Asanko redeemable preference shares and equity |  |  | 165.0 |
Total consideration transferred |  |  | 165.0 |
Gain on acquisition of Asanko |  |  |  |
Summary of gain on acquisition | The gain on acquisition was determined as follows:
|  | United States Dollar |
Figures in millions unless otherwise stated |  | 2018 |
Total fair value of assets acquired |  |  | 216.8 |
Redeemable preference shares equity financial asset acquired1 |  |  | 129.9 |
Fair value of identifiable net assets acquired2 |  |  | 86.9 |
Consideration transferred |  |  | (165.0 | )
Gain on acquisition3 |  |  | 51.8 |
Summary of Key Assumptions Used to Determine Fair Value of Redeemable Preference Shares at Acquisition | The redeemable preference shares were recognised as an investment in an equity financial instrument measured at fair value. The key assumptions used to determine the fair value of the redeemable preference shares of US$129.9 million at acquisition were as follows:
Par value of the preference shares |  | US$ | 165.0 million |
Market-related interest rate |  |  | 7.85 | %
Expected redemption period – 2020 to 2023 |  |  | 5 years |
Summary of Key Assumptions Used to Determine Fair Value of the Net Identifiable Assets Acquired |
| The key assumptions used to determine the fair value of the net identifiable assets acquired were as follows:
US$ gold price – 2018 to 2019 |  | US$ | 1,200/oz |
US$ gold price – 2020 onwards |  | US$ | 1,300/oz |
Discount rate |  |  | 10.27 | %
Life-of-mine – 2019 to 2030 |  |  | 12 years |

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