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Site Visit Showcases Progress and Potential at Asanko Gold Mine

Thursday, December 1, 2016 11:42
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Analysts following Asanko Gold came away from a recent site visit with positive expectations for the company’s Asanko Gold Mine in Ghana.

Asanko Gold Inc. (AKG:NYSE.MKT; AKG:TSX) hosted the site visit on Nov. 18, and also provided analysts and shareholders with an update on its Phase 2 definitive feasibility study and the outlook for 2017. The company’s technical presentation can be viewed on its website.

In a Nov. 21 research report, analyst Jeff Killeen of CIBC wrote, “We were impressed by the regional exploration potential beyond current outlined targets based on artisanal workings.”

Killeen also noted that CIBC believes “AKG has done a good job reaching commercial production and LOM (life-of-mine) reserve grades within the first year of initiating Phase 1. We also see year-over-year growth as another positive sign that AKG is meeting development expectations at Phase 1.”

Nana Sangmuah, writing in a Nov. 24 research report for Clarus Securities, said, “We return highly encouraged from our AKG site visit. We were impressed by the team on the ground that has successfully delivered Phase 1 ahead of schedule and within budget.”

Sangmuah also commented that, “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, writing in a Nov. 24 research report, commented that the “site visit takeaway” for Raymond James was that Asanko’s operating performance “affirm[s] the potential we see in [its] operation.”

Looking forward, Thompson noted, “We continue to anticipate a mine plan that delivers production and cash-flow growth with an increase in processed tonnes and a drop in head grade as Esaase ore is processed (1.4 g/t Av grade). Clarity on AKG’s near-term production potential will be revealed with a revised feasibility study anticipated in Q4/16.”

In addition, Thompson said the 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.”

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Disclosure:
1) Tracy Salcedo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She owns, or members of her immediate household or family own, shares of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: Asanko Gold Inc. The companies mentioned in this article were not involved in any aspect of the article preparation. Streetwise Reports does not accept stock in exchange for its services. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview or article until after it publishes.

Additional Disclosures for this Content

( Companies Mentioned: AKG:NYSE.MKT; AKG:TSX, )

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