Sector Expert: Nana Sangmuah

Clarus Securities

Image: Nana Sangmuah

Nana Sangmuah is managing director of research at Toronto-based Clarus Securities. His previous industry experience includes the Prestea underground mine, AngloGold Ashanti's Obuasi and Iduapriem mines, and Gold Fields' Damang gold mine. He has over eight years of global mining equity research experience that covers more than 60 mining companies worldwide in the gold, base metals and diamond sectors and has in-depth knowledge of mining projects in West Africa. Sangmuah completed a Master of Business Administration in finance at the University of Toronto's Rotman School of Management in 2004 and obtained his Bachelor of Science in engineering from the University of Mines and Technology, Ghana, in 1999.

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Companies Commented On

  • Asanko Gold Inc.


Recent Interviews

Hitting the High Notes of African Resource M&A: Nana Sangmuah (3/9/15)
Merge

With six mining deals in 16 months, mining takeovers in African nations are happening with increasing frequency, and Nana Sangmuah, managing director of research with Toronto-based Clarus Securities, says more African M&A is on the way. But he cautions investors about companies high-grading reserves to generate cash flow. When the music stops, Sangmuah says, those companies will crash. In this interview with The Gold Report, Sangmuah tells investors how to avoid the party crashers and seek names that can hit the high notes with long-life production assets that can generate significant cash flow to retire debt, grow the business and return some profits to shareholders.

Invest in Africa Now: Nana Sangmuah (4/27/12)

Last year, Africa was the region that witnessed the strongest growth in gold-mining operations. In an exclusive interview with The Gold Report, Nana Sangmuah, managing director of research with Toronto-based Clarus Securities, expects that trend to continue and suggests some immediate smart investments in Ghana, Mali, Liberia and the Democratic Republic of the Congo.

Nana Sangmuah: African Takeouts on the Menu (10/29/10)

Clarus Securities Analyst Nana Sangmuah was born in Ghana, West AfricaŚa growing hot spot for gold exploration. He believes several gold juniors operating in West Africa are prime takeover targets and expects merger and acquisition (M&A) activity to heat up as the major gold producers seek to replenish their diminishing project pipelines. In this exclusive interview with The Gold Report, Nana reveals a few juniors on both sides of the Atlantic that could fall prey to larger predators.

Recent Quotes

"Trading at a 50% discount, AKG stock offers an attractive opportunity."

— Nana Sangmuah, Clarus Securities (11/6/17)
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"AKG is well-positioned to meet its revised guidance for 2017."

— Nana Sangmuah, Clarus Securities (10/19/17)
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"AKG's acquisition of Miradani should provide further resource growth based on historic trenching and extensive artisanal workings."

— Nana Sangmuah, Clarus Securities (9/25/17)
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"AKG's DFS update shows an executable path to derisking production."

— Nana Sangmuah, Clarus Securities (6/6/17)
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"We believe AKG would be a coveted asset in any of the majors' asset portfolios."

— Nana Sangmuah, Clarus Securities (1/12/17)
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"We believe AKG would be a coveted asset in any of the major's asset portfolios."

— Nana Sangmuah, Clarus Securities (11/24/16)
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"AKG's phase 1 ramp up has been progressing better than expected, setting the stage for strong production growth through phase 2A."

— Nana Sangmuah, Clarus Securities (11/8/16)
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"AKG's mining grades have consistently improved toward reserve grade."

— Nana Sangmuah, Clarus Securities (10/20/16)
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"We continue to believe that AKG is well positioned to deliver compelling production growth of ~100% by 2019."

— Nana Sangmuah, Clarus Securities (10/13/16)
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"We believe that the near-mine exploration success coupled with throughput expansion should enable AKG to deliver a significant production boost."

— Nana Sangmuah, Clarus Securities (9/20/16)
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"We are encouraged by the positive update that reflects AKG management team's confidence in the operational performance at Nkran."

— Nana Sangmuah, Clarus Securities (9/16/16)
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"We expect AKG's stock to rerate toward emerging producer peers as it continues to deliver on operational milestones."

— Nana Sangmuah, Clarus Securities (8/15/16)
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"AKG's update reaffirms our view that the production profile can be boosted in the short term."

— Nana Sangmuah, Clarus Securities (8/9/16)
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"We expect AKG to rerate toward its emerging producer peers as the company continues to deliver on operational milestones."

— Nana Sangmuah, Clarus Securities (7/21/16)
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"AKG is well positioned to boost production by 50% by 2018 and to double production by 2022 supported by internally generated cash flows."

— Nana Sangmuah, Clarus Securities (5/16/16)
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"AKG's current valuation does not reflect its growth profile."

— Nana Sangmuah, Clarus Securities (5/3/16)
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"AKG announced positive exploration results; we maintain our Buy rating."

— Nana Sangmuah, Clarus Securities (4/28/16)
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"We are encouraged by the progress with the ramp-up of AKG's operations."

— Nana Sangmuah, Clarus Securities (4/7/16)
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"AKG announced first gold production from its gold mine in Ghana."

— Nana Sangmuah, Clarus Securities (1/27/16)
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"AKG's management continues to deliver on its development milestones."

— Nana Sangmuah, Clarus Securities (12/22/15)
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