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Also traded in: Canada, Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash-to-Debt 0.39
AKG's Cash-to-Debt is ranked lower than
74% of the 1545 Companies
in the Global Gold industry.

( Industry Median: 291.20 vs. AKG: 0.39 )
Ranked among companies with meaningful Cash-to-Debt only.
AKG' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.39  Med: No Debt Max: No Debt
Current: 0.39
Equity-to-Asset 0.63
AKG's Equity-to-Asset is ranked higher than
57% of the 724 Companies
in the Global Gold industry.

( Industry Median: 0.60 vs. AKG: 0.63 )
Ranked among companies with meaningful Equity-to-Asset only.
AKG' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.63  Med: 0.94 Max: 0.97
Current: 0.63
0.63
0.97
Interest Coverage 1.06
AKG's Interest Coverage is ranked lower than
96% of the 1021 Companies
in the Global Gold industry.

( Industry Median: 10000.00 vs. AKG: 1.06 )
Ranked among companies with meaningful Interest Coverage only.
AKG' s Interest Coverage Range Over the Past 10 Years
Min: 0.98  Med: 4999.99 Max: N/A
Current: 1.06
Piotroski F-Score: 5
Altman Z-Score: 1.35
Beneish M-Score: 176509.67
WACC vs ROIC
20.28%
1.70%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry
vs
history
Operating Margin % 7.74
AKG's Operating Margin % is ranked higher than
67% of the 743 Companies
in the Global Gold industry.

( Industry Median: 1.28 vs. AKG: 7.74 )
Ranked among companies with meaningful Operating Margin % only.
AKG' s Operating Margin % Range Over the Past 10 Years
Min: 7.12  Med: 7.12 Max: 7.74
Current: 7.74
7.12
7.74
Net Margin % -7.19
AKG's Net Margin % is ranked lower than
62% of the 746 Companies
in the Global Gold industry.

( Industry Median: 0.29 vs. AKG: -7.19 )
Ranked among companies with meaningful Net Margin % only.
AKG' s Net Margin % Range Over the Past 10 Years
Min: -7.19  Med: -7.14 Max: -7.14
Current: -7.19
-7.19
-7.14
ROE % -3.15
AKG's ROE % is ranked higher than
64% of the 1395 Companies
in the Global Gold industry.

( Industry Median: -10.31 vs. AKG: -3.15 )
Ranked among companies with meaningful ROE % only.
AKG' s ROE % Range Over the Past 10 Years
Min: -37.75  Med: -13.96 Max: -0.79
Current: -3.15
-37.75
-0.79
ROA % -2.03
AKG's ROA % is ranked higher than
67% of the 1566 Companies
in the Global Gold industry.

( Industry Median: -9.58 vs. AKG: -2.03 )
Ranked among companies with meaningful ROA % only.
AKG' s ROA % Range Over the Past 10 Years
Min: -36.79  Med: -13.77 Max: -0.75
Current: -2.03
-36.79
-0.75
ROC (Joel Greenblatt) % 2.13
AKG's ROC (Joel Greenblatt) % is ranked higher than
73% of the 1487 Companies
in the Global Gold industry.

( Industry Median: -13.76 vs. AKG: 2.13 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
AKG' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -510.72  Med: -23.59 Max: 2.18
Current: 2.13
-510.72
2.18
3-Year EPS without NRI Growth Rate 63.70
AKG's 3-Year EPS without NRI Growth Rate is ranked higher than
93% of the 990 Companies
in the Global Gold industry.

( Industry Median: -20.60 vs. AKG: 63.70 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
AKG' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -90.2  Med: 4.3 Max: 210
Current: 63.7
-90.2
210
GuruFocus has detected 2 Warning Signs with Asanko Gold Inc $AKG.
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Financials


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Guru Trades

Q1 2016

AKG Guru Trades in Q1 2016

Jim Simons 1,122,469 sh (+424.03%)
Mario Gabelli 210,300 sh (+16.51%)
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Q2 2016

AKG Guru Trades in Q2 2016

Mario Gabelli 210,300 sh (unchged)
Donald Smith 2,009,579 sh (-0.01%)
Jim Simons 483,700 sh (-56.91%)
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Q3 2016

AKG Guru Trades in Q3 2016

Donald Smith 2,009,500 sh (unchged)
Mario Gabelli 161,300 sh (-23.30%)
Jim Simons 301,400 sh (-37.69%)
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Q4 2016

AKG Guru Trades in Q4 2016

Donald Smith 2,008,490 sh (-0.05%)
Mario Gabelli 153,800 sh (-4.65%)
Jim Simons 222,300 sh (-26.24%)
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Business Description

Industry: Metals & Mining » Gold    NAICS: 212221    SIC: 611
Compare:OTCPK:ALIAF, NYSE:RIC, OTCPK:NMKTF, OTCPK:PIRGF, AMEX:GSV, OTCPK:ELKMF, OTCPK:DPMLF, OTCPK:WDOFF, NYSE:SA, AMEX:SAND, OTCPK:RMGGF, OTCPK:ICGQF, OTCPK:ARNGF, AMEX:GSS, OTCPK:VITFF, OTCPK:BRRGF, OTCPK:VNNHF, OTCPK:GDRZF, OTCPK:PMNXF, OTCPK:HRTFF » details
Traded in other countries:AKG.Canada, B7U.Germany,
Headquarter Location:Canada
Asanko Gold Inc is a gold producer. Its principal asset is the Asanko Gold Mine, which consists of two neighboring gold projects, the Obotan Project and the Esaase Project, both located in the Amansie West District of the Republic of Ghana, West Africa.

Asanko Gold Inc changed its name from Keegan Resources Inc. on March 1, 2013. The Company was incorporated as 'Quicksilver Ventures Inc.' It is a natural resource company currently engaged in the acquisition and exploration of mineral resources in West Ghana. All of the company's properties are currently in the exploration stage. The Company plans to undertake further work to perform a preliminary economic assessment of the deposit on the Esaase Property, as well as undertake additional exploration to add to the existing resource estimates and convert additional resources to an indicated resources category. It plans to continue exploration of the Asumura property, as well as the Jeni Concession. The Company competes with other mineral resource exploration companies. The current and anticipated future operations of the Company including further exploration activities, require permits from various Canadian, U.S. and West Ghanaian, Federal, Provincial, and/or state governmental agencies.

Top Ranked Articles about Asanko Gold Inc

Asanko Gold Releases Operating and Financial Results Company reported a loss in 4th quarter but exceeded guidance in gold production
Asanko Gold Inc. (AKG) reported operating and financial results for the last quarter of 2016 and the whole year of 2016 Thursday. Read more...
Asanko Gold Exceeds Gold Production Expectations The company aims to become a mid-tier gold producer
Asanko Gold Inc. (AKG) reported operating results for the fourth quarter of 2016 last Wednesday. From the Ghanaian Asanko Gold Mine’s Phase 1, the company produced 57,178 ounces of gold that exceeded the guidance that was set by the company, which was between 52,000 and 57,000 ounces. Read more...
Asanko Gold Results of Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 17, 2016) - Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE MKT:AKG) announced that all the resolutions put to shareholders at the Company's annual general meeting (the "Meeting") held yesterday were duly passed. The results for each of the matters voted upon at the Meeting are set out below:
Election of Directors
The seven nominees listed in the Company's management information circular dated May 23, 2016, were elected at the Meeting as directors of Asanko.



Director

Name
Votes

For
% Votes

For
Votes

Withheld
% Votes

Withheld


Colin Steyn
139,512,674
99.79%
294,323
0.21%


Peter Breese
139,661,074
99.90%
145,923
0.10%


Gordon Fretwell
136,960,207
97.96%
2,846,790
2.04%


Marcel de Groot
137,140,122
98.09%
2,666,875
1.91%


Michael Price
139,619,339
99.87%
187,658
0.13%


William Smart
138,641,549
99.17%
1,165,448
0.83%


Shawn Wallace
138,246,812
98.88%
1,560,185
1.12%



Appointment of Auditor



Name
Votes

For
% Votes

For
Votes

Withheld
% Votes

Withheld


KPMG LLP
153,004,490
99.82%
273,086
0.18%



Adoption of Shareholder Rights Plan




Votes

For
% Votes

For
Votes

Against
% Votes

Withheld


Shareholder Rights Plan
139,000,146
99.42%
806,851
0.58%



Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Enquiries:
For further information please visit: www.asanko.com, email: [email protected].






Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
44-7932-740-452
[email protected]





Read more...
Asanko Gold Annual General Meeting Information

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 23, 2016) - Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE MKT:AKG) advises it will hold its Annual General Meeting ("AGM") on Thursday June 16, 2016. Materials for the AGM, including its shareholders proxy circular, have now been filed at www.sedar.com and at www.sec.gov and are available on the Company's website at www.asanko.com. In the proxy circular, the Company provides details of its proposal to re-elect its current slate of seven directors, reappoint KPMG LLP as auditors and certain mandated disclosure about corporate governance matters. Included in this year's agenda is also a proposal to re-adopt a shareholders rights plan to replace a similar one that expired in 2015. The Rights Plan was not adopted in response to any specific take-over bid and is intended to ensure that, in the context of a bid for control of the Company through an acquisition of shares, all shareholders have an equal opportunity to participate in, and adequate time to assess, any bid that may be made. The Rights Plan is described in detail in the proxy circular and a full copy of the Rights Plan is separately available under the Company's SEDAR profile at www.sedar.com and at www.sec.gov. Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.





Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
Toll-Free (N. America): 1-855-246-7341
44-7932-740-452
[email protected]
Asanko Gold Inc.
Wayne Drier
Executive, Corporate Development
1-778-729-0614
[email protected]
Asanko Gold Inc.
www.asanko.com
[email protected]




Read more...
Asanko Gold Amends Debt Repayment Schedule in Preparation for Phase 2A Investment Decision

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 19, 2016) - Highlights:

Terms agreed to amend the repayment schedule on the existing US$150 million debt facility
Principal repayments deferred by two years to July 1, 2018
No other changes to the existing debt facility terms or offtake agreement
Revised repayment profile frees up an additional US$70 million in cash flow over two years for planned growth projects

Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE MKT:AKG) is pleased to announce it has agreed terms with RK Mine Finance ("Red Kite") to amend its existing US$150 million loan facility and defer repayment of the principal for two years to enable the Company to re-invest in its growth projects and increase production at its flagship project, the Asanko Gold Mine in Ghana, West Africa. Phase 1 of the Asanko Gold Mine is in production and expected to produce an annual average of 190,000 ounces of gold per year over a 12.5 year life-of-mine. On May 2, 2016 the Company elaborated on the scope of a Definitive Feasibility Study which is currently being undertaken to examine the expansion of the Asanko Gold Mine in two further stages. The first stage, Phase 2A, envisions capital expenditures of US$100-$125 million to expand production to approximately 280,000 ounces of gold per year by Q4 2018. The Company's ability to fully fund this expansion from cash flow from operations is now significantly enhanced by this US$70 million deferral of principal repayments on its US$150 million debt facility. Peter Breese, President and CEO, said: "Prudent financial discipline and deployment of capital has always been an integral component of our strategy. The deferral of the principal repayments on the Red Kite debt by two years will enable us to further strengthen our balance sheet ahead of an investment decision on Phase 2A in Q4 2016. Red Kite have been very supportive of our growth strategy and recognize that Phase 2A offers value accretive growth by increasing production by approximately 47% to 280,000 ounces per annum in 2018 whilst lowering unit costs and improving profit margins." With the loan amendment, the first principal repayment will now be payable on July 1, 2018 after which the facility will be amortized over nine equal quarterly instalments, with the last payment on July 1, 2020. The Company will continue to pay quarterly interest on the loan facility during the principal deferral period with the first interest payment on July 1, 2016. There are no other changes to either the existing debt facility terms or the offtake agreement. A deferral fee of 2% of the loan principal is payable by June 30, 2016. An amendment to the existing Senior Facilities Agreement is expected to be completed in the coming weeks and will be filed on SEDAR as a material Company document. About RK Mine Finance RK Mine Finance provides mining companies with project financing and metal off-take agreements for initiation or expansion of mine production and is part of the Red Kite group. Red Kite operates across the global metals industry from offices in Bermuda, Hong Kong, London, New York, Shanghai and Toronto. Investors in Red Kite funds include college endowments, foundations, family offices, pensions and other institutional investors. Further information on RK Mine Finance can be found at www.rkminefinance.com. About Asanko Gold Inc. Asanko's vision is to become a mid-tier gold mining company 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. The mine is being developed in phases. Phase 1 was built within budget and ahead of schedule, with gold production commencing in January 2016 and commercial production declared on April 1, 2016. Ramp-up to steady-state production of 190,000 ounces per annum is expected in Q2 2016. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. Forward-Looking and other Cautionary Information This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. The foregoing parameters for a Phase 2 mine expansion are preliminary estimates and projections only. Feasibility work has not progressed to the point where the Company has ascertained whether a Phase 2 project will prove economically feasible in its currently posited form or for any other form of mine model or plan. No estimated net present value or internal rate of return or sensitivity analysis around the project economics has been calculated at this time. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com. Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.






Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
44-7932-740-452
[email protected]
Asanko Gold Inc.
Wayne Drier
Executive, Corporate Development
1-778-729-0614
[email protected]
Asanko Gold Inc.
www.asanko.com
[email protected]




Read more...
Asanko Gold Q1 2016 Results and Site Visit Presentations

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 12, 2016) - Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE MKT:AKG) is hosting an analyst and investor visit today to its flagship project, the Asanko Gold Mine in Ghana, West Africa. The technical presentations are available on the Company's website at: www.asanko.com. On Friday May 13, 2016 Asanko will file its Q1 2016 results, which will be available on SEDAR and on the Company's website. For further information please visit www.asanko.com or email [email protected]. About Asanko Gold Inc. Asanko's vision is to become a mid-tier gold mining company 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. The mine is being developed in phases. Phase 1 was built within budget and ahead of schedule, with gold production commencing in January 2016 and commercial production declared on April 1, 2016. Ramp-up to steady-state production of 190,000 ounces per annum is expected in Q2 2016. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.





Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
44-7932-740-452
Toll-Free (N.America): 1-855-246-7341
[email protected]
Asanko Gold Inc.
Wayne Drier
Executive, Corporate Development
1-778-729-0614
[email protected]
www.asanko.com




Read more...
Asanko Gold Refines Scope of Phase 2 Definitive Feasibility Study

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 2, 2016) - Asanko Gold Inc. (TSX:AKG)(NYSE MKT:AKG) Highlights:

Phase 1 excess plant capacity provides optionality for Phase 2 development, DFS to provide for a staged construction scenario
First Stage: Phase 2A

Develop Esaase pit and mine 2Mtpa oxide ores only, build overland conveyor and expand capacity of existing processing facility up to 5Mtpa
Treatment of both Nkran fresh ore and Esaase oxide ore through the existing expanded CIL plant
Targeting ±280,000 ounces/pa over life of mine from Phase 1 and Phase 2A commencing Q4 2018
Capital cost(1) estimated between US$100 to US$125 million, financed from cash flow
Investment decision expected Q4 2016
Second stage - Phase 2B

Expand Esaase pit and mine oxide and fresh ores and convey to existing processing facility
Install additional milling circuit and flotation plant to expand processing facility to 10Mtpa
Targeting total ± 480,000 ounces/pa over life of mine for Asanko Gold Mine
Capital cost1 estimated circa US$150 to 170 million, financed from cash flow
Successful public hearing clears way for final stages of permitting of both stages of Phase 2
DFS, including modified scope, on track for publication in Q3 2016

(1) Based on Phase 2 PFS published on SEDAR June 29, 2015 Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AGK)(NYSE MKT:AKG) is pleased to provide an update on the Phase 2 Definitive Feasibility Study ("DFS") for its flagship project, the Asanko Gold Mine in Ghana, West Africa. The DFS was initiated following a positive Pre-Feasibility Study ("PFS") released in May 2015. Phase 2 Pre-Feasibility Study The PFS envisioned integrating the Esaase deposit with Phase 1 to create one large, multi-pit mine and expanding the existing processing facilities to produce an average of 411,000 ounces of gold per annum ("pa") over a 10.5 year Life of Mine ("LoM") from 2018. The ore would be mined and crushed at Esaase and then conveyed to the expanded Phase 1 processing facility, which would include an upgrade to the CIL circuit with two extra tanks to increase capacity from 3Mtpa to 3.8Mtpa and the addition of a 5Mtpa flotation plant. Opportunity for Staged Capital Development Following the successful commissioning of Phase 1 in Q1 2016, the process plant has demonstrated the ability to operate at greater than 110% of the 3Mtpa design (see news release dated April 6, 2016). This has presented an opportunity to take advantage of the Esaase oxide ore (representing approximately 37% of Esaase reserves) which are well suited to processing through the CIL circuit. Therefore the scope of the Phase 2 DFS has been modified to include a two-stage approach for the integration of the Esaase deposit with Phase 1:

Phase 2A: development of the Esaase pit, mining up to 2Mtpa of oxide ores and construction of the conveyor to provide the additional ore to process up to 5Mtpa through the existing CIL circuit, which will be upgraded; and
Phase 2B: mining of both Esaase oxide and fresh ores and expansion of the processing facilities to include the addition of a 5Mtpa flotation plant to bring the total processing capacity up to 10Mtpa.

Peter Breese, President and CEO, said: "The successful ramp-up of the Phase 1 processing facility and the additional excess mill capacity has led us to re-think our approach for Phase 2. With a hungry mill and a CIL circuit that can be cost effectively upgraded, we believe staging the development of Esaase is a smarter option that we can fund out of cash flow whilst maintaining our strong balance sheet. By focusing on mining just the Esaase oxides initially, which will utilize the mill's spare capacity, we can increase gold production by nearly 50%, thereby reducing our unit cost of production and significantly improving cash flow. With Esaase about two years away from production, we will look to advance development of the satellite pits as well as continue our near-mine exploration program to find additional resources to keep the mill full until Esaase is brought online." Overview of Phase 2A The Esaase deposit contains 60.3Mt of Proven and Probable Mineral Reserves2 of which approximately 23Mt are oxide and transition ores. Phase 2A will develop the Esaase pit, mining the oxide portion of the Mineral Reserve to provide an additional 2Mtpa of material which will be blended with 3Mtpa of the Nkran fresh ore and processed through the existing processing facility, which will be upgraded. Development will include construction of mining and crushing infrastructure and a 27km overland conveyor belt to transport the ore to the existing processing facility. Brownfield modifications will upgrade the existing processing plant capacity from 3Mtpa up to 5Mtpa. The upgrades to the processing facility that were originally envisioned to expand capacity from 3Mtpa to 3.8 Mtpa in the PFS are now expected to increase production levels up to 5Mtpa. The extent and cost of the modifications will be detailed in the DFS. Additional metallurgical test work, undertaken at ALS laboratories in Perth, Australia, together with operational experience gained from Phase 1 to date has confirmed that metallurgical recovery from blending of the Esaase oxide and Nkran fresh ores will be in-line with the PFS recovery estimates of approximately 90.9%2. (2) Based on Phase 2 PFS published on SEDAR June 29, 2015 Based on the PFS capital cost estimate and mine plan, Phase 2A is expected to take approximately 21 months for detailed design and construction at a capital cost of approximately US$100 - 125 million(2). Production of over 280,000 ounces/pa is targeted to commence in Q4 2018. The increase in production by approximately 47% is expected to improve the overall unit operating costs as the fixed cost of operations is spread over a larger production base. The operating and capital cost estimates are currently being updated as part of the DFS, which is due in Q3 2016. Based on the current gold price environment, the Company is forecasting that it should be able to fund construction of Phase 2A from the cash flow from the existing operations. Overview of Phase 2B The second stage of the project, Phase 2B, will expand the mining operation to mine both Esaase oxide and fresh ores and expand the processing facility with the construction of an additional 5Mtpa milling and flotation plant for the exclusive processing of Esaase fresh ores. Production is expected to exceed 480,000 ounces/pa from 2022 onwards, with total processing capacity of 10Mtpa (3Mtpa from Nkran and 7Mtpa from Esaase). The capital cost is expected to be approximately US$150 - 170 million(3) and development of Phase 2B development will be staggered so that the capital cost will be funded from cash flow. (3) Based on Phase 2 PFS published on SEDAR June 29, 2015 Permitting A Phase 2 Environmental Impact Assessment ("EIA") was submitted to the Ghanaian Environmental Protection Agency ("EPA") in June 2015 based on the revised scope for development of the Esaase project from a stand-alone operation. A Scoping Report and a draft Terms of Reference for the revised project proposal was prepared and submitted to the EPA in August 2015. Following extensive stakeholder engagement, the Company has obtained the necessary support of local stakeholders. This support was formalized in a Public Hearing held by the EPA on April 19, 2016 at which the local stakeholders expressed their desire for Phase 2 to proceed. A final Environment Impact Statement ("EIS") is now being prepared and following submission and review, the Company expects to receive its Environment Permit to start construction of Phase 2A in Q4 2016. Key Milestones and Timelines:


Complete Phase 2 DFS
Q3 2016


Receive Environmental Permit
Q4 2016


Investment Decision on Phase 2A
Q4 2016


Start detail design and Construction
Q1 2017


Phase 2A complete
Q4 2018



Enquiries: For further information please visit: www.asanko.com or email: [email protected]. About Asanko Gold Inc. Asanko's vision is to become a mid-tier gold mining company 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. The mine is being developed in phases. Phase 1 was built within budget and ahead of schedule, with gold production commencing in January 2016 and commercial production declared on April 1, 2016. Ramp-up to steady-state production of 190,000 ounces per annum is expected in Q2 2016. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. Forward-Looking and other Cautionary Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. The foregoing parameters for a Phase 2 mine expansion are preliminary estimates and projections only. Feasibility work has not progressed to the point where the Company has ascertained whether a Phase 2 project will prove economically feasible in its currently posited form or for any other form of mine model or plan. No estimated net present value or internal rate of return or sensitivity analysis around the project economics has been calculated at this time. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com. Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.





Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
44-7932-740-452
[email protected]
Wayne Drier - Executive, Corporate Development
1-778-729-0614
[email protected]




Read more...
Near Mine Exploration Yields Success at Asanko Gold Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 27, 2016) - Highlights:




Successful drilling completed on two near mine priority exploration targets to provide additional ounces to recently commissioned milling operations









Additional Measured & Indicated ("M&I") Mineral Resources of 628,600 tonnes at 1.89 g/t gold (38,250 contained ounces)1 estimated in an extension to the Adubiaso satellite pit









Low cost of discovery, approximately US$6.50 per M&I ounce




-
13 metres at 5.50 g/t gold




-
9 metres at 6.73 g/t gold




-
12 metres at 4.38 g/t gold










Both targets are within existing mine permit boundaries allowing for expedited permitting process



Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE MKT:AKG) is pleased to announce positive initial results from its 2016 exploration program. This follows a successful 2015 program that identified a series of advanced targets that are now being drilled to resource status on a systematic basis. The first drilling campiagn has delineated two mineralized zones - one is an extension of the existing Adubiaso pit (3km from the Phase 1 processing facility) and the other is a north-easterly extension of the main Nkran pit mineralization. Both zones present as near-surface, have not been mined before and occur within the existing mine permit boundaries which will result in a streamlined permitting process. Following the successful commissioning of the first phase of the Asanko Gold Mine in Ghana, West Africa in Q1 2016, the process plant has demonstrated the ability to operate at greater than 110% of design rates (see news release dated April 6, 2016). Currently the limiting factor on operating the plant at sustained rates above design is ore supply, as the Nkran pit cannot be sustainably mined at a rate of more than three million tonnes per annum. The main focus of the 2016 exploration program is to find sources of ore that are within close proximity of the processing facility to take advantage of the excess capacity. Peter Breese, President and CEO, commented, "We are very encouraged by the early success of our exploration strategy which is targeting near-surface resources that are within an economic trucking distance of the Phase 1 processing facility and which can be quickly and cost-effectively brought into production. Processing these resources using the exisiting capacity in our process facility will boost production levels, improve our unit operating costs and increase cashflow from operations in the near-term." 1 At a 0.8 g/t gold cut-off grade. Adubiaso Satellite Pit Extension The Adubiaso pit (Annexure 1) is a previously mined satellite pit at the Asanko Gold Mine which is estimated to contain 1.8 million tonnes of Proven and Probable Mineral Reserves at 2.07 g/t gold2. These Mineral Reserves lie predominantly under the old pit and form part of the current life-of-mine plan for the Asanko Gold Mine2. In 2015, mineralization in two zones over a 300m strike length extending to the North-East of the existing pit were identified based on an analysis of historical drill hole data. In the first quarter of 2016, the Company drilled 20 holes (approximately 2,100 metres) of Reverse Circulation (RC) drilling and delineated a classified Mineral Resource, as per the tables below. Whittle pit designs, waste dump planning and a water management program will now begin with a view to commencing mining by the end of the year. Given these additional resources are part of and not a material addition to the estimated Asanko Gold Mine resources, no separate technical report will be prepared for them.


Table 1: Adubiaso Extension - Measured and Indicated Resources


Cut-Off

(g/t gold)
Tonnage
Grade

(g/t)
Ounces


0.5
992,408
1.43
45,612


0.6
833,738
1.60
42,812


0.7
714,505
1.76
40,320


0.8
628,602
1.89
38,249


1.0
482,590
2.19
34,034












Table 2: Adubiaso Extension - Inferred Resources


Cut-Off

(g/t gold)
Tonnage
Grade

(g/t)
Ounces


0.5
406,846
1.69
21,394


0.6
328,860
1.96
20,042


0.7
269,528
2.24
18,815


0.8
239,597
2.42
18,086


1.0
191,347
2.79
16,657



Notes: The cut-off grade used for the Asanko Gold Mine - Phase 1 Project resources (Nkran, Adubiaso, Abore, Dynamite Hill & Asuadai) was 0.8 g/t. Columns may not add up due to rounding. All figures are in metric tonnes. The Mineral Resources are stated as in situ tonnes. Individual densities were used per ore domain. The tonnages and contents are stated as 100%, which means no attributable portions have been stated in the table conversion from grams to ounces - 31.10348. 2 Asanko Gold Mine Definitive Project Plan as filed on SEDAR on November 13, 2014. Nkran Extension Drilling Results The Nkran Extension target is located on the Nkran shear structure approximately 2km from the Phase 1 processing facility. The target runs for 900m North-South adjacent to the existing Tailings Storage Facility. A drilling program was completed during March 2016, with 29 RC drillholes completed (approximately 2,200 metres). Preliminary results are given in Annexure 2 with the final set of results currently being assayed, after which a classified Mineral Resource is expected to be announced during Q2 2016. Significant intercepts to date include the following:

13 metres at 5.50 g/t gold
9 metres at 6.73 g/t gold
12 metres at 4.38 g/t gold

2016 Exploration Program Asanko controls a large, continuous package (approximately 679km²) of mineral rights in the Asankrangwa Gold Belt in Ghana. Work will continue on the remaining targets identified through the prospectivity and regional geophysics surveys (VTEM) completed during 2014 and 2015. Asanko looking ahead In the longer term, the Company plans to develop the large Esaase deposit as Phase 2 of the Asanko Gold Mine. A Definitive Feasibility Study is currently underway and expected to be published in Q3 2016. Qualified Persons Statements The Mineral Resource Estimate ("MRE") for the Adubiaso Mineral resources was prepared by Joseph Mamphey, Diploma Geological Engineering, MSc Geostatistics, MRM Asanko Gold Mine, and audited by Charles J. Muller, B.Sc. Geology (Hons), PR.Sci.Nat., MGSSA, a Director of CJM Consulting Pty Ltd. ("CJM") of Johannesburg, South Africa. The MRE is reported in accordance with Canadian National Instrument 43-101 requirements and the South African Code of Reporting of Exploration Results (SAMREC), which is consistent with the CIM Estimation Best Practice Guidelines in Canada. Philip N Bentley, PR.Sci.Nat., FGSSA, MSc, MSc (Minex), Geology and Resources Executive for Asanko, and a qualified person with respect to NI 43-101, has supervised the scientific or technical information for this press release. Enquiries: For further information please visit: www.asanko.com. About Asanko Gold Inc. Asanko's vision is to become a mid-tier gold mining company 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. The mine is being developed in phases. Phase 1 commenced gold production in January 2016 and declared commercial production on April 1, 2016. Ramp-up to steady state production of 190,000 ounces per annum is expected in Q2 2016. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. Forward-Looking and other Cautionary Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com. Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Cautionary Note to US Investors Regarding Mineral Reporting Standards: Asanko has prepared its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of US securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Asanko uses certain terms, such as, "measured mineral resources", "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the public filings of Asanko which have been filed with securities commissions or similar authorities in Canada). To view Annexure 1 Locality plan of Adubiaso Satellite Pit, visit the following link: http://media3.marketwire.com/docs/1052266-A1.pdf Annexure 2 Nkran Extension #1 preliminary borehole intercepts


Hole ID
From
To
Intercept Description


AKRC16-044
63
68
5.00m @ 0.60 g/t


AKRC16-044
75
77
2.00m @ 0.67 g/t


AKRC16-045
14
23
9.00m @ 2.11 g/t


AKRC16-045
33
42
9.00m @ 6.73 g/t


AKRC16-046
66
78
12.00m @ 1.92 g/t


AKRC16-047
26
31
5.00m @ 1.45 g/t


AKRC16-048
79
91
12.00m @ 4.38 g/t


AKRC16-049
20
21
1.00m @ 0.85 g/t


AKRC16-049
49
52
3.00m @ 1.71 g/t


AKRC16-050
15
22
7.00m @ 2.36 g/t


AKRC16-057
13
18
5.00m@ 1.84 g/t


AKRC16-057
31
44
13.00m @ 5.50 g/t









Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
44-7932-740-452
[email protected]
Asanko Gold Inc.
Wayne Drier
Executive, Corporate Development
1-778-729-0614
[email protected]
Asanko Gold Inc.
[email protected]
www.asanko.com




Read more...

Ratios

vs
industry
vs
history
Forward PE Ratio 19.16
AKG's Forward PE Ratio is ranked lower than
57% of the 583 Companies
in the Global Gold industry.

( Industry Median: 17.01 vs. AKG: 19.16 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PB Ratio 1.19
AKG's PB Ratio is ranked higher than
67% of the 1388 Companies
in the Global Gold industry.

( Industry Median: 2.03 vs. AKG: 1.19 )
Ranked among companies with meaningful PB Ratio only.
AKG' s PB Ratio Range Over the Past 10 Years
Min: 1.17  Med: 1.75 Max: 2.23
Current: 1.19
1.17
2.23
PS Ratio 2.74
AKG's PS Ratio is ranked lower than
64% of the 672 Companies
in the Global Gold industry.

( Industry Median: 1.84 vs. AKG: 2.74 )
Ranked among companies with meaningful PS Ratio only.
AKG' s PS Ratio Range Over the Past 10 Years
Min: 2.7  Med: 6.4 Max: 21.64
Current: 2.74
2.7
21.64
Price-to-Operating-Cash-Flow 8.14
AKG's Price-to-Operating-Cash-Flow is ranked higher than
50% of the 385 Companies
in the Global Gold industry.

( Industry Median: 8.68 vs. AKG: 8.14 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
AKG' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 8  Med: 11.67 Max: 26.97
Current: 8.14
8
26.97
EV-to-EBIT 53.99
AKG's EV-to-EBIT is ranked lower than
84% of the 904 Companies
in the Global Gold industry.

( Industry Median: 20.02 vs. AKG: 53.99 )
Ranked among companies with meaningful EV-to-EBIT only.
AKG' s EV-to-EBIT Range Over the Past 10 Years
Min: -74.6  Med: 59.7 Max: 109.9
Current: 53.99
-74.6
109.9
EV-to-EBITDA 9.62
AKG's EV-to-EBITDA is ranked higher than
52% of the 971 Companies
in the Global Gold industry.

( Industry Median: 10.14 vs. AKG: 9.62 )
Ranked among companies with meaningful EV-to-EBITDA only.
AKG' s EV-to-EBITDA Range Over the Past 10 Years
Min: -2762.6  Med: 10.6 Max: 25.8
Current: 9.62
-2762.6
25.8
Current Ratio 2.53
AKG's Current Ratio is ranked higher than
54% of the 1502 Companies
in the Global Gold industry.

( Industry Median: 2.17 vs. AKG: 2.53 )
Ranked among companies with meaningful Current Ratio only.
AKG' s Current Ratio Range Over the Past 10 Years
Min: 2.38  Med: 23.96 Max: 51.83
Current: 2.53
2.38
51.83
Quick Ratio 1.84
AKG's Quick Ratio is ranked higher than
52% of the 1502 Companies
in the Global Gold industry.

( Industry Median: 1.71 vs. AKG: 1.84 )
Ranked among companies with meaningful Quick Ratio only.
AKG' s Quick Ratio Range Over the Past 10 Years
Min: 1.84  Med: 23.96 Max: 51.83
Current: 1.84
1.84
51.83
Days Inventory 44.24
AKG's Days Inventory is ranked higher than
73% of the 606 Companies
in the Global Gold industry.

( Industry Median: 76.92 vs. AKG: 44.24 )
Ranked among companies with meaningful Days Inventory only.
AKG' s Days Inventory Range Over the Past 10 Years
Min: 38.79  Med: 38.79 Max: 44.24
Current: 44.24
38.79
44.24
Days Sales Outstanding 49.27
AKG's Days Sales Outstanding is ranked lower than
62% of the 600 Companies
in the Global Gold industry.

( Industry Median: 36.83 vs. AKG: 49.27 )
Ranked among companies with meaningful Days Sales Outstanding only.
AKG' s Days Sales Outstanding Range Over the Past 10 Years
Min: 48  Med: 48 Max: 49.27
Current: 49.27
48
49.27

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -33.40
AKG's 3-Year Average Share Buyback Ratio is ranked lower than
75% of the 1131 Companies
in the Global Gold industry.

( Industry Median: -12.90 vs. AKG: -33.40 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
AKG' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -87.3  Med: -33.1 Max: 0
Current: -33.4
-87.3
0

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 1.19
AKG's Price-to-Tangible-Book is ranked higher than
70% of the 1342 Companies
in the Global Gold industry.

( Industry Median: 2.29 vs. AKG: 1.19 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
AKG' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.6  Med: 2.73 Max: 10.47
Current: 1.19
0.6
10.47
Price-to-Median-PS-Value 0.43
AKG's Price-to-Median-PS-Value is ranked higher than
89% of the 518 Companies
in the Global Gold industry.

( Industry Median: 1.05 vs. AKG: 0.43 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
AKG' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.42  Med: 28.27 Max: 56
Current: 0.43
0.42
56
Earnings Yield (Greenblatt) % 1.86
AKG's Earnings Yield (Greenblatt) % is ranked higher than
58% of the 1748 Companies
in the Global Gold industry.

( Industry Median: -0.10 vs. AKG: 1.86 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
AKG' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 0.9  Med: 1.4 Max: 1.9
Current: 1.86
0.9
1.9

More Statistics

Revenue (TTM) (Mil) $183.0
EPS (TTM) $ -0.07
Beta0.98
Short Percentage of Float5.58%
52-Week Range $2.23 - 4.68
Shares Outstanding (Mil)27.00

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 291 335 346
EPS ($) 0.10 0.17 0.26
EPS without NRI ($) 0.10 0.17 0.26
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($)
» More Articles for AKG

Headlines

Articles On GuruFocus.com
Asanko Gold Releases Operating and Financial Results Mar 20 2017 
Asanko Gold Exceeds Gold Production Expectations Jan 14 2017 
Asanko Gold Produces 53,986 oz in Q3 2016 Oct 13 2016 
Asanko Gold Announces Encouraging Initial Drill Results From New Exploration Target Sep 19 2016 
Asanko Gold Partners With Leading Canadian NGO, CODE to Bring its World Class Literacy and Education Sep 15 2016 
Asanko Gold Increases H2 2016 Production Guidance Sep 15 2016 
Asanko Gold Results of Annual General Meeting Jun 17 2016 
Asanko Gold Annual General Meeting Information May 23 2016 
Asanko Gold Amends Debt Repayment Schedule in Preparation for Phase 2A Investment Decision May 19 2016 
Asanko Gold Q1 2016 Results and Site Visit Presentations May 12 2016 

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