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:

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."

SmallCapPower (11/10/16)
"Asanko Gold Inc. is a top takeover target after impressive Q3 results. . .the company's most recent financial/operating results suggest that it is firing on all cylinders and may attract the attention of other suitors. . .the company has a more than 7.9 million ounce Measured & Indicated gold resource at its flagship Asanko Gold Mine. On November 7, 2016, Asanko announced Q3 gold production of 53,986 ounces, a 49% increase from the previous quarter, allowing it to generate net income of US$11.7 million and boost its working capital to $66.7 million."

Nana Sangmuah, Clarus Securities (11/8/16)
"Asanko Gold Inc.'s Q3 CFPS of $0.18 was ahead of our estimated $0.14 and consensus of $0.11 driven by lower operating cash costs that came in at $544/oz, 15% below our estimated $637/oz. . .the Phase 1 ramp-up has been progressing better than expected with the processing facility operating 20% above design, gold recoveries 1.5% above plan, mining grades converging with reserve grades and operating costs in line with the DPP. . .this sets the stage for the company to deliver a strong production growth through Phase 2A. . .we maintain our BUY rating and target price of $8.50."

Geordie Mark, Haywood Securities (11/7/16)
"Our target price of $6.50 for Asanko Gold Inc. is based on an 8x EV/OCF multiple to our 2017 cash flow estimate of C$0.92/sh. . .Q3/16 financial results were largely in-line with expectations as operating data had been released previously. . .the company reported Q3/16 revenues of US$72 million driving EBITDA of US$37 million and operating cash flow of US$36 million or US$0.18 per share. . .2017 Forecasts: We project total production of 241 koz gold at an average AISC of $595/oz; our 2017 forecasts drive revenues of US$343 million."

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
Benjamin Asuncion – Haywood Securities
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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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