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Companies Commented On

  • Acacia Mining Plc
  • Asanko Gold Inc.
  • Aureus Mining Inc.
  • Continental Gold Ltd.
  • Endeavour Mining Corp.
  • IAMGOLD Corp.
  • Orezone Gold Corporation
  • Randgold Resources Ltd.
  • Rio Alto Mining Ltd.
  • SEMAFO Inc.
  • True Gold Mining Inc.

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.




Recent Interviews

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

"Progress to date at AKG's Asanko gold mine is encouraging." (4/9/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities Moreá>

"AKG is fully funded, but it is not trading at the level of its fully funded peers." (3/9/15) Asanko Gold Inc. - The Gold Report Interview with Nana Sangmuah Moreá>

"CNL is making progress derisking its Buriticß project in Colombia." (3/9/15) Continental Gold Ltd. - The Gold Report Interview with Nana Sangmuah Moreá>

"AKG bolstered its cash balances to ~$250M, an additional buffer." (2/12/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities Moreá>

"AKG remains a top pick among the developers we track." (1/16/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities Moreá>

"Project economics on AKG's Asanko mine plan remain compelling." (11/14/14) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities Moreá>

"AKG's update adds certainty to the resource at Asanko gold mine." (9/10/14) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities Moreá>

"AKG eliminated a 2% NSR on phase 1 of Asanko, a positive transaction." (8/27/14) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities Moreá>

more comments

"TGM announced a $120M stream agreement; available funds now are ~$160M." (8/12/14) True Gold Mining Inc. - Nana Sangmuah, Clarus Securities Moreá>

"TGM's high-margin Karma project makes money even at $1,000/oz Au." (6/10/14) True Gold Mining Inc. - Nana Sangmuah, Clarus Securities Moreá>

"AKG is one of our top picks due to its attractive cost profile and M&A target status." (5/27/14) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities Moreá>

"AKG appointed a contractor for its phase 1 (Obotan) construction." (4/3/14) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities Moreá>

"TGM increased its Karma resources to 5+ Moz." (3/14/14) True Gold Mining Inc. - Nana Sangmuah, Clarus Securities Moreá>

"TGM recently completed a $52M equity financing to advance Karma." (3/5/14) True Gold Mining Inc. - Nana Sangmuah, Clarus Securities Moreá>

"We're comfortable with TGM's Karma project, resource growth and derisking milestones." (1/28/14) True Gold Mining Inc. - Nana Sangmuah, Clarus Securities Moreá>

"Holes from TGM's Kao North showed 1.45 g/t weighted average grades." (1/21/14) True Gold Mining Inc. - Nana Sangmuah, Clarus Securities Moreá>

"TGM has delivered another milestone by signing a $90M debt financing." (1/17/14) True Gold Mining Inc. - Nana Sangmuah, Clarus Securities Moreá>

"We initiate coverage on TGM with a Buy rating." (1/8/14) True Gold Mining Inc. - Nana Sangmuah, Clarus Securities Moreá>

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