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:

Nana Sangmuah, Clarus Securities (1/12/17)
"We believe with Phase 1 performance exceeding expectations, Asanko Gold Inc. is well positioned to deliver a compelling production growth of ~100% to ~300 koz by 2018 and ultimately become a ~0.5MM oz producer through Phase 2B by 2020. . .we await the final feasibility study with detailed mine plans to update our valuation model(Q1/17). . .given the production growth profile, we believe AKG would be a coveted asset in any of the major's asset portfolio. . .we maintain our BUY rating and target price of $8.50 per share."

Chris Thompson, Raymond James (1/11/17)
"Asanko Gold Inc. reported Q4/16 production results which were in-line with expectations. . .AKG reported Q4/16 production of 57 koz, which compares favorably with our estimate of 56 koz. . .recoveries of 94% exceeded our expectations of 92%. Management expects these recoveries to continue into the foreseeable future."

Geordie Mark, Haywood Securities (12/5/16)
"We see Asanko Gold Inc. as a growing gold producer through the staged expansion of the Asanko Gold Mine through Phase 2 (A and B). . .the Company's 2017 operations plan concentrates on ramping-up exploitation rates at Nkran, with a total of 25 million tonnes (Mt) of material expected to be exploited from the pit, which will include 4 Mt of ore and 5 Mt of waste removed as part of the west wall pushback. . .we project total production of 241 Koz of gold at a cash cost of $672/oz."

Analysts following Asanko Gold came away from a recent site visit with positive expectations for the company's Asanko Gold Mine in Ghana.
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Nana Sangmuah, Clarus Securities (11/24/16)
"We return highly encouraged from our Asanko Gold Inc. site visit; we were impressed by the team on the ground that has successfully delivered Phase 1 ahead of schedule and within budget. Year 2 (2017) production of Phase 1 is now being guided for 230–240koz, 25%-30% ahead of DPP plan of ~184koz. . . the better than expected ramp-up for Phase 1 has positioned the company well to deliver compelling production growth through Phase 2 that would boost production to 470 koz/year by 2020; given the production growth profile, we believe AKG would be a coveted asset in any of the major's asset portfolios."

Chris Thompson, Raymond James (11/24/16)
For Asanko Gold Inc., the Asanko mine's near-term production potential (Phase 1 completed, 2017 production and cost guidance recently released) and Phase 2A expansion plan rank as the paramount near-term value driver for AKG's shareholders. . .we continue to see Asanko as a low cost mine (2017E AISC of ~$825/oz, RJL's definition) capable of producing ~215koz (2017E), ~230koz (2018E), ~275koz (2019E/2020E), and ~460 koz (2021E). We note that our 2017 production estimate is conservative and falls below company guidance of 230 to 240 koz for 2017."

Jeff Killeen, CIBC World Markets (11/21/16)
"We think Asanko Gold Inc. has done a good job reaching commercial production and LOM reserve grades within the first year of initiating Phase 1. We also see YOY growth as another positive sign that AKG is meeting development expectations at Phase 1. . .we calculate our price target of C$6.00 by applying a ~10x multiple to our average three-year forward estimated cash flow per share of C$0.62 at a 1.35 US$/C$ exchange rate. . .on a P/NAV basis, the C$6.00 price target represents a ~1x multiple to our 5% discounted NAV."

News that Asanko Gold has increased production guidance and secured positive drill results from a new exploration site at its Ghana mine project spurred positive comments from four analysts following the company.
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More Expert Comments

Experts Following This Company

Ian Abbott – Goldman Sachs
Jeff Killeen, Analyst – CIBC World Markets
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
George Mack, Interviewer – BioDecade
Geordie Mark, Head, Mining Research – Haywood Securities
Bob Moriarty, Author 321 Energy , 321 Gold
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 – Echelon Wealth Partners

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

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Readers should conduct their own research for all information publicly available concerning the company.

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
Q3
2016
Phase 2 DFS published
Asanko Gold Inc. Content