Asanko Gold Inc.

Asanko Gold Inc.'s vision is to become a mid-tier gold producer that maximizes value for all its stakeholders. The company's flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa, which is being developed in phases. Phase 1 was successfully built and commissioned within budget and ahead of schedule. Gold production commenced in January 2016 and commercial production was declared in April 2016. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The company is strongly committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighboring communities.

Expert Comments:

Geordie Mark, Haywood Securities (5/19/16)
"The amendment of the Red Kite Mine Finance agreement to defer principal repayments for 2-years provides Asanko with added flexibility for the staged development of Phase II of the AGM. We view this as a reasonable step for a US$3 million cost (2% fee on current outstanding balance) to foster cash flow growth potential with a heightened working capital buffer. . .our $5 target and Buy rating remain unchanged."

Nana Sangmuah, Clarus Securities (5/16/16)
"We return from last week's site visit very encouraged and with furthered confidence in the project's operational performance and management's staged development approach to doubling production by 2022. . .the plant performance to date, grade reconciliation, qualified personnel and ramp up in production to steady state by Q2/16 provide us with optimism. . .Asanko is well positioned to boost production by 50% to 280 koz by 2018 and to doubling production to ~480 koz by 2022 supported by internally generated cash flows. We maintain our Buy rating and target of $6.00 per share."

Chris Thompson, Raymond James (5/16/16)
We attended a site visit in Ghana. . .Asanko's progress in ramping up grade and tonnage from the Nkran open pit to satisfy plant capacity, exploration, near-term value enhancing upside offered by mine site exploration targets, and Phase 2 expansion plans. . .the mine showed well and management was notably upbeat discussing all aspects of the operation. . .management maintains its stance on remaining fully funded for Phase 2 growth. . .we are increasing our target to C$5.00 (from $4.50) following the site visit, and increased confidence in our operating assumptions.

Geordie Mark, Haywood Securities (5/3/16)
Asanko has re-tasked the Phase II DFS scope to consider a two-stage development plan incorporating an incremental capacity build to an ultimate 10 Mtpa. . .we believe that the incremental capacity expansion re-scope offers an attractive path to grow production capacity through modest annual capital deployment, and makes use of the company's resource/reserve base and near-mine exploration potential."

Jeff Killeen, CIBC World Markets (5/3/16)
"Asanko Gold Corp. provided an update for development of Phase 2 (the Esaase deposit) at the Asanko Gold mine, essentially creating a staged construction scenario versus the original prefeasibility study from May 2015. . .the total Phase 2 capex is similar to the initial prefeasibility estimate of $270M, but staged to allow Asanko to fund both the Phase 2A and 2B expansions through operating cash flows. Per our model, we think Asanko can satisfy the lower end of the Phase 2 capex range through operating cash flow."

Nana Sangmuah, Clarus Securities (5/3/16)
"Asanko Gold Corp. announced a positive update on the scope of phase 2 DFS, due Q3/16, that showed a staged development approach and initial capex spread over several quarters. . .given the clarity that phase 2 development can now be funded internally even at $1,200/oz gold, we have increased the multiple on our NAV estimate to 1.0x. . .the current valuation does not reflect Asanko's growth profile and expect to see the discount dissipate with ramp-up toward steady state production and achievement of development milestones for phase 2 construction. . . .we boost our target price to $6/share (prior $4.00)."

More Expert Comments

Experts Following This Company

Benjamin Asuncion – Haywood Securities
Jayant Bhandari
Robert Cohen, VP and Portfolio Manager, GCIC Ltd. – Dynamic Funds
Brent Cook, Analyst, Geologist Exploration Insights
Ovais Habib, Analyst – Scotia Capital
Andrew Kaip, Analyst – BMO Capital Markets
Jeff Killeen, Analyst – CIBC World Markets
Chen Lin What Is Chen Buying? What Is Chen Selling?
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Geordie Mark, Head, Mining Research – Haywood Securities
Joe Mazumdar Exploration Insights
Nana Sangmuah, Research Analyst, Precious Metals – Clarus Securities
Jamie Spratt, Analyst – Clarus Securities
Ron Stewart, Analyst – Dundee Capital Markets
Chris Thompson, Mining Analyst – Raymond James
Ryan Walker, Analyst – Euro Pacific Canada

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
World class asset with low cost production
Organic growth with potential to double production
Respected management team with track record of delivering shareholder returns
catalyst Calendar
Commercial Production Declared for Phase 1
Phase 2 DFS Published
Asanko Gold Inc. Content