AKG:NYSE.MKT; AKG:TSX

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.
AKG:NYSE.MKT AKG:TSX

Expert Comments:

Ron Stewart, Dundee Capital Markets (4/8/16)
"Asanko Gold Inc. declared commercial production at its phase 1 gold mine in Ghana; the mine is expected to produce 2.3 Moz at AISC of $781/oz over 12-year mine life. Asanko estimates after-tax NPV of $412M, 26% IRR based on $1,300/oz gold price. . .the company noted mining and gold production in H1/16 would not reflect the LOM plan as mining has focused on waste stripping and the main ore zones would be exposed in H2/16. . .Asanko has executed well, delivered on its objectives to this point and appears positioned to achieve guidance for the remainder of the year."

Nana Sangmuah, Clarus Securities (4/7/16)
"Asanko Gold Inc. achieved commercial production and remains on track for steady state production by Q2/16; the ramp-up has seen mill throughput rates and recoveries averaging well above Prefeasibility Study estimates while the bulk sample grade reconciliation was modestly below estimates. Overall, we are encouraged by the progress with the ramp-up of the operations and do not anticipate any significant deviations in the resource model based on the bulk mining tests; however, we note that any potential deviations in grade should be more than offset by the higher throughput and recoveries."

Jeff Killeen, CIBC World Markets (4/7/16)
"Asanko Gold Inc. announced that the Phase 1 (Obotan deposit) of the Asanko gold mine in Ghana achieved commercial production on April 1, 2016, a quarter ahead of schedule. . .over 276 Kt were processed by the mill in March; gold recoveries are exceeding design estimates, 94% for two weeks in March vs. 92.5% in mine plan; accelerated mining [is planned] through Q2/16 to de-bottleneck the pit. . .we view the mill performance as positive and higher recoveries are likely to persist on a go-forward basis."

Geordie Mark, Haywood Securities (4/7/16)
"Asanko Gold Inc. declared phase 1 commercial production for Asanko gold mine on April 1, with steady-state operations anticipated by the end of Q2/16. As of March 2016, 15,337 oz gold had been produced, with an additional 6,200 oz estimated in the processing circuit. . .Asanko is guiding for commercial production of 125,000–140,000 oz in 2016 (Q2–Q4), of which 90,000–100,000 oz is anticipated in H2/16. . .management stated as of March 31, Asanko had ~US$72M cash, which we view as sufficient liquidity given the current production rates, projected grade profile, prevailing commodity prices and assumed operating costs."

Chris Thompson, Raymond James (4/6/16)
"Asanko Gold Inc. achieved commercial production at its Asanko gold mine on April 1, 2016. . .this represents a major milestone, in our view, as the project continues to ramp up to steady state gold production, anticipated in H2/16. While we see the company's transition from developer to producer as already being reflected in a rerating by the market (0.79x NAV versus our producer group trading at 0.73x NAV), we feel that the top end of this range (0.9x NAV) is achievable with the successful completion of production ramp-up."

Geordie Mark, Haywood Securities (3/24/16)
"Our investment thesis for Asanko Gold Inc. is built on our belief that the newly merged entity holds a critical mass of gold resources and reserves at Esaase and Obotan that can be developed to provide the company with growth capacity and processing optimality to start initial production on a low-cost basis to weather potential commodity price volatility. . .Asanko commenced gold production in January at the Asanko gold mine. This phase 1 of the mine is projected to ramp up to commercial production later in the year, with throughput in 2017 currently projected to average 3.5 Mt/year."

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
Q2
2016
Commercial Production Declared for Phase 1
Q2
2016
Phase 2 DFS Published
Q2
2016
Asanko Gold Inc. Content