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Galiano Gold Inc

Galiano Gold Inc (GAU)

1.435
-0.035
( -2.38% )
Updated: 15:30:00

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Key stats and details

Current Price
1.435
Bid
-
Ask
-
Volume
852,246
1.42 Day's Range 1.5099
0.52 52 Week Range 1.60
Market Cap
Previous Close
1.47
Open
1.49
Last Trade
33
@
1.43
Last Trade Time
15:30:00
Financial Volume
$ 1,237,032
VWAP
1.4515
Average Volume (3m)
935,205
Shares Outstanding
224,956,119
Dividend Yield
-
PE Ratio
9.74
Earnings Per Share (EPS)
0.12
Revenue
-
Net Profit
26.09M

About Galiano Gold Inc

Galiano Gold Inc is focused on building a sustainable business capable of long-term value creation for its stakeholders through a combination of exploration, accretive acquisitions, and the disciplined deployment of its financial resources. The company currently operates and manages the Asanko Gold ... Galiano Gold Inc is focused on building a sustainable business capable of long-term value creation for its stakeholders through a combination of exploration, accretive acquisitions, and the disciplined deployment of its financial resources. The company currently operates and manages the Asanko Gold Mine, located in Ghana, West Africa. Its Asanko Gold Mine is a multi-deposit complex, with two main deposits, the Obotan Project and the Esaase Project, both located in the Amansie West District of the Republic of Ghana (Ghana), West Africa. Show more

Sector
Gold Ores
Industry
Gold Ores
Website
Headquarters
Vancouver, British Columbia, Can
Founded
1970
Galiano Gold Inc is listed in the Gold Ores sector of the American Stock Exchange with ticker GAU. The last closing price for Galiano Gold was $1.47. Over the last year, Galiano Gold shares have traded in a share price range of $ 0.52 to $ 1.60.

Galiano Gold currently has 224,956,119 shares outstanding. The market capitalization of Galiano Gold is $254.20 million. Galiano Gold has a price to earnings ratio (PE ratio) of 9.74.

GAU Latest News

GALIANO GOLD ANNOUNCES UPCOMING CHANGES TO ITS BOARD OF DIRECTORS

GALIANO GOLD ANNOUNCES UPCOMING CHANGES TO ITS BOARD OF DIRECTORS Canada NewsWire VANCOUVER, BC, April 18, 2024 VANCOUVER, BC, April 18, 2024 /CNW/ - Galiano Gold Inc. ("Galiano" or the...

GALIANO GOLD REPORTS 2024 GUIDANCE, PRELIMINARY Q1 OPERATING RESULTS AND A 38% INCREASE IN ABORE M&I MINERAL RESOURCES

GALIANO GOLD REPORTS 2024 GUIDANCE, PRELIMINARY Q1 OPERATING RESULTS AND A 38% INCREASE IN ABORE M&I MINERAL RESOURCES Canada NewsWire VANCOUVER, BC, April 16, 2024 (all dollars in U.S...

GALIANO GOLD ANNOUNCES SIGNIFICANT DRILL RESULTS FROM ABORE, INCLUDING 45m @ 12.4 g/t Au & 37m @ 10.6 g/t Au

GALIANO GOLD ANNOUNCES SIGNIFICANT DRILL RESULTS FROM ABORE, INCLUDING 45m @ 12.4 g/t Au & 37m @ 10.6 g/t Au Canada NewsWire VANCOUVER, BC, March 11, 2024 VANCOUVER, BC, March 11, 2024 /CNW/...

GALIANO GOLD ANNOUNCES CLOSING OF TRANSFORMATIONAL TRANSACTION

GALIANO GOLD ANNOUNCES CLOSING OF TRANSFORMATIONAL TRANSACTION PR Newswire VANCOUVER, BC, March 4, 2024 (all dollar amounts in USD) VANCOUVER, BC, March 4, 2024 /PRNewswire/ - Galiano Gold Inc...

GALIANO GOLD REPORTS AN INCIDENT AT A MINING LEASE OWNED BY THE ASANKO GOLD MINE

GALIANO GOLD REPORTS AN INCIDENT AT A MINING LEASE OWNED BY THE ASANKO GOLD MINE PR Newswire VANCOUVER, BC, March 3, 2024 VANCOUVER, BC, March 3, 2024 /PRNewswire/ - Galiano Gold Inc...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1-0.075-4.966887417221.511.551.3613370611.48090764CS
40.1259.541984732821.311.61.2618067311.46262114CS
120.55663.25369738340.8791.60.89352051.33241064CS
260.8823159.634521440.55271.60.526331911.17098372CS
520.805127.7777777780.631.60.524169991.03452886CS
1560.25521.61016949151.181.60.364770730.828795CS
2600.25521.61016949151.182.390.367228761.10040947CS

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GAU Discussion

View Posts
Mephisto Berserk Mephisto Berserk 2 years ago
GAU has bottomed out here in the .60s. e
Earning good cashflow here. Low costs. Good profit. Debt free. Who doesnt like that?
👍️0
Pennyes Pennyes 3 years ago
Galiano, a debt free, fine Junior miner will breakout soon!!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163319627
👍️0
4Godnwv 4Godnwv 4 years ago
Added today on the dip. Held up well today considering spot tanked over $20 and futures were down $27 - we’ll see if she bounces tomorrow. So far it’s been a well behaved swing trade.
👍️0
4Godnwv 4Godnwv 4 years ago
Galiano Gold Reports Q1 2020 Results
May 07 2020 - 07:00AM
PR Newswire (US) Print
(All dollar amounts are United States dollars unless otherwise stated)

VANCOUVER, May 7, 2020 /PRNewswire/ - Galiano Gold Inc. ("Galiano" or the "Company") (TSX, NYSE American: GAU) (formerly Asanko Gold Inc.) reports first quarter ("Q1") 2020 operating and financial results for the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. The AGM is a 50:50 joint venture ("JV") with Gold Fields Ltd (JSE, NYSE: GFI), which is managed and operated by Galiano.

Q1 2020 Asanko Gold Mine Highlights (100% basis)

Record quarterly gold production of 66,333 ounces at all-in sustaining cost1 ("AISC") of $805/oz

The AGM delivered its best financial performance since commercial production was announced in April 2016.

Gold sales of 67,820 ounces at an average realized price of $1,542/oz, generating record gold sales proceeds of $104.6 million

Strong cash flow generation with operating cash flow of $37.0 million, and free cash flow1 of $27.0 million

As at March 31, 2020, the JV had cash of $55.6 million, $9.6 million in gold receivables and $0.5 million in gold on hand

Revolving credit facility of $30 million drawn down as a proactive measure in response to current economic uncertainty

Filed 43-101 technical report with updated Mineral Resource and Mineral Reserve Estimate

Precautionary measures in place in response to the COVID-19 global pandemic
Q1 2020 Quarterly Highlights for Galiano Gold Inc.

Net income after tax of $21.8 million and Adjusted EBITDA1 of $21.9 million

At March 31, 2020, Galiano had cash and receivables of $53.7 million

Continued returning capital to shareholders through the normal course issuer bid ("NCIB") program with 2,431,409 common shares repurchased and cancelled for $2.0 million

Appointed Paul N. Wright as Chairman of the Board of Directors as of May 5, 2020

Appointed Judith Mosely to the Board of Directors as of January 1, 2020

Appointed Todd Romaine as Executive Vice President, Sustainability as of May 1, 2020

Appointed Paul Klipfel as Senior Vice President, Exploration as of April 20, 2020
"We delivered an exceptional quarter in the context of a very challenging global backdrop," said Greg McCunn, Chief Executive Officer. "With record production and gold sales proceeds we continued to execute on our strategy of generating free cash flow at the Asanko Gold Mine and returning capital with distributions to the joint venture partners totalling $45 million during the quarter."

"During the quarter the team delivered on an important milestone with the completion of the life of mine plan and the updated Mineral Resource and Mineral Reserve estimate for the Asanko Gold Mine providing a baseline on which we are working to optimize. Included in the optimization is our cost initiative to drive down our all-in sustaining costs by $100/oz. Another key focus area where we see potential to drive value is within exploration and I am pleased to announce that Paul Klipfel has joined us as our newly appointed Vice President, Exploration. The focus on exploration in the short-term is on replacing depletion and during 2020 we have a $10 million program underway with 4 drill rigs currently turning on-site. We expect to have approximately 36,000 metres drilled by early August at near-mine targets which will form our updated reserve and resource estimate for year-end. We expect to see a sustained exploration effort in the medium term.

"During the quarter and subsequent to quarter-end we have also undertaken some changes to the board with the addition of Judith Mosely and our newly appointed Chairman Paul Wright. We have also recently appointed Todd Romaine as our EVP, Sustainability. With sustainability a key focus area, we are pleased to enhance our capability across the Environmental, Social and Governance spheres. We also received shareholder support at our Annual General and Special Meeting to change the Company's name and effective May 5, 2020 we began trading as Galiano Gold. This provides us a clear distinction between the corporate level entity and the Asanko Gold Mine whilst maintaining our vision to create a sustainable business capable of long-term value creation for all our stakeholders."

https://ih.advfn.com/stock-market/AMEX/galiano-gold-GAU/stock-news/82402166/galiano-gold-reports-q1-2020-results
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4Godnwv 4Godnwv 4 years ago
Galiano Gold 1Q Net $21.8M
Galiano Gold Had Cash and Receivables of $53.7M at March 31
BZ: Galiano Gold Q1 Adj. EPS $0.10, Up From $(0.02) YoY
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4Godnwv 4Godnwv 4 years ago
Press Release: Galiano Gold Reports Q1 2020 -4-

5/7/20, 7:00 AM
SOURCE Galiano Gold Inc.

/CONTACT: Enquiries: Lynette Gould, SVP Investor RelationsToll-Free (N. America): 1-855-246-7341, Telephone: 1-778-729-0608, Email: lynette.gould@ galianogold.com

/Web site: https://www.asanko.com/Home/default.aspx
👍️0
4Godnwv 4Godnwv 4 years ago
Analyst Actions: HC Wainwright Lifts Galiano Gold's Price Target to $2.50 From $2.40, Keeps Buy Rating
👍️0
4Godnwv 4Godnwv 4 years ago
Asanko Gold is now Galiano Gold Inc - trades under ticker symbol GAU
👍️0
whytestocks whytestocks 5 years ago
News: $AKG Gold Prices at 6 Year High Due to U.S.-China Trade Policies

August 8, 2019 Palm Beach, FL –August 8, 2019 – There are many reasons why the price of gold fluctuates, but one of the current reasons is the intensifying U.S.-China trade war which is perceived to threaten global economic growth. In times of uncertainty, gold is se...

Read the whole news Gold Prices at 6 Year High Due to U.S.-China Trade Policies
👍️0
whytestocks whytestocks 5 years ago
News: $AKG Asanko Gold Announces Management Restructuring

VANCOUVER, British Columbia, July 11, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) announces changes to its senior management team following a thorough review of the current business needs as managers and opera...

Read the whole news Asanko Gold Announces Management Restructuring
👍️0
whytestocks whytestocks 5 years ago
News: $AKG Asanko Gold Announces Q2 2019 Production Results

VANCOUVER, British Columbia, July 10, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce production results for the second quarter (“Q2”) 2019 from the Asanko Gold Mine (“A...

Find out more Asanko Gold Announces Q2 2019 Production Results
👍️0
ProfitScout ProfitScout 5 years ago
Asanko Gold Reports Positive Exploration Results
GlobeNewswire
April 8, 2019
News Link:
https://finance.yahoo.com/news/asanko-gold-reports-positive-exploration-110000417.html
👍️0
ProfitScout ProfitScout 5 years ago
Asanko Gold Reports Q4 and Full Year 2018 Results, and Provides 2019 Guidance

VANCOUVER, British Columbia, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) reports fourth quarter (“Q4”) and full year (“FY”) 2018 operating and financial results and provides 2019 guidance for the Asanko Gold Mine (“AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI), which is managed and operated by Asanko. All amounts are in US dollars unless otherwise stated.

Asanko Gold Mine Highlights (100% basis)

FY2018 gold production of 223,152 ounces at AISC1 $1,072/oz, exceeding 2018 production guidance and within the lower end of cost guidance
FY2018 gold sales of 227,772 ounces at an average realized price of $1,247/oz, generating gold revenue of $283.9 million, including by-product sales and after capitalization of gold sales related to pre-production activities at Esaase
For FY2018, the JV generated operating cash flows of $72.5 million and $100.5 million in operating cash flows before working capital changes
For FY2018, the JV reported adjusted net income1 after tax of $2.0 million, after accounting for the $126.9 million fair value adjustment associated with the JV transaction
Q4 2018 gold production of 59,823 ounces at AISC1 of $1,072/oz
Q4 2018 gold sales of 61,821 ounces at an average realized price of $1,215/oz, generating gold revenue of $74.2 million, including by-product sales and after capitalization of gold sales related to pre-production activities at Esaase
For Q4 2018, the JV posted a net loss after tax of $3.1 million
At December 31, 2018, the JV had cash of $21.6 million on hand and $4.3 million in receivables from gold sales
Quarterly Consolidated Financials for Asanko Gold Inc.

In Q4 2018, the Company reported net loss of $0.9 million and Adjusted EBITDA1 of $6.1 million
At December 31, 2018, Asanko had a cash position of $10.4 million
2019 Guidance for the Asanko Gold Mine (100% basis)

225,000 – 245,000 ounces at AISC1 of $1,040 – 1,060/oz and AIC2 of $1,130 – $1,150/oz
Capital expenditure forecast to be $25.0 million, of which $9.0 million is sustaining capex and $16.0 million is development capital for Esaase (included in AIC2)
Exploration budget of $8.0 million (included in AIC2)
Commenting on the Q4 and FY 2018 performance, Peter Breese, President and CEO, said: “The Asanko Gold Mine delivered a fourth consecutive quarter of strong operating performance, enabling the mine to set a new production record for the year, which exceeded guidance and met the lower end of cost guidance. This enabled the mine to deliver exceptional operating cash flows after working capital of $72.5 million in the year. This is a particularly pleasing result and allowed the mine to focus on investing in its future as we continued with the substantial pushback of the Nkran pit and commenced the initial development of the large greenfields deposit, Esaase.

Whilst the mine’s AISC1 were within the lower end of cost guidance for the year, Q4 AISC1 were impacted by a NRV adjustment to the mine’s lower-grade stockpile inventory value, the planned continued focus on the large Nkran pushback and inflationary pressures on mining unit rates. These costs translated into a net loss after tax of $3.1 million for the JV.

Looking to the year ahead, the Asanko Gold Mine is targeting 225,000 to 245,000 ounces of gold production at AISC1 of $1,040 – $1,060/oz for 2019. Whilst forecasted AISC1 for 2019 are in line with 2018, they include a continued investment on the large Nkran pushback, which will be complete in 2019, resulting in high strip ratios for the year. In addition we have provided for two additional costs items that were not incurred for the full year in 2018. These are $35/oz for the recently introduced Esaase trucking operation and $25/oz to account for the new 5% non-refundable levy on goods and services that attract VAT in Ghana.

Alongside meeting the operational plan for the year, we will be focusing on the continued development of Esaase and re-starting exploration. Working with our Joint Venture partners, we have put together an $8 million exploration program for the year. Our priority targets are located within the highly prospective South Camp area, as well as near-mine oxides close to existing infrastructure.”

Asanko Gold Mine – Summary of FY2018 and Q4 2018 Operational and Financial Results

Asanko Gold Mine (100% Basis) Q4 2017 Q3 2018 Q4 2018 FY 2017 FY 2018
Waste mined (‘000t) 10,692 9,084 8,370 30,108 39,244
Ore mined (‘000t) 802 1,730 1,370 4,048 4,898
Strip ratio (W:O) 13.3 5.3 6.1 7.4 8.0
Average gold grade mined (g/t) 1.5 1.4 1.5 1.7 1.4
Mining costs ($/t mined) 2.82 3.63 4.13 3.25 3.62
Ore treated (‘000t) 1,087 1,299 1,238 3,745 5,180
Gold feed grade (g/t) 1.5 1.6 1.6 1.8 1.5
Gold recovery (%) 94 94 95 94 94
Processing costs ($/t treated) 12.91 11.26 12.39 13.00 11.16
Gold production (oz) 51,550 61,599 59,823 205,047 223,152


Gold sales (oz) 49,561 65,267 61,821 206,079 227,772
Average realized gold price ($/oz) 1,264 1,198 1,215 1,243 1,247
Operating cash costs1 ($/oz) 586 743 811 556 688
Total cash costs1 ($/oz) 649 803 872 618 750
All-in sustaining costs1 ($/oz) 1,171 971 1,072 1,007 1,072
All-in sustaining margin1 ($/oz) 93 227 143 236 175
All-in sustaining margin1 ($m) 4.6 14.8 8.8 48.6 39.9
Revenue ($m) 62.8 78.4 74.2 256.2 283.9
Income (loss) from mine
operations ($m) 15.1 0.6 (0.8 ) 62.6 35.3
Net income (loss) after tax ($m) (9.3 ) (128.8 ) (3.1 ) 12.6 (124.9 )
Adjusted net income (loss) after tax1 ($m) (9.3 ) (2.1 ) (2.9 ) 12.6 2.0
Cash provided by operating activities 36.6 21.1 12.9 133.2 72.5
There were no lost time injuries (“LTI”) reported during the quarter, and the AGM has now achieved over 21 months and more than 10.9 million man hours worked without a single LTI.
For the year 2018 gold sales were 227,772 ounces at an average realized price of $1,247/oz, generating gold revenue of $283.9 million
Strong cash generation for the year, the JV generated $72.5 million in operating cash flow after working capital
Produced 59,823 and 223,152 ounces of gold in Q4 2018 and FY2018, respectively, exceeding 2018 production guidance of 200,000-220,000 ounces.
In Q4 2018, ore mined was 456,667 tonnes per month at an average mining grade of 1.5 g/t and a strip ratio of 6.1:1.
Completed the initial development and bulk sampling exercise of the large-scale Esaase deposit in Q4 2018. Trial mining operations commenced in January 2019.
The processing plant delivered another strong quarterly milling performance of 1.2 million tonnes at a plant feed grade of 1.6g/t.
Q4 2018 gold recovery was 95%, continuing to exceed design.
The AGM incurred operating cash costs per ounce1, total cash costs per ounce1 and all-in sustaining costs (“AISC”)1 of $811, $872 and $1,072/oz, respectively, in Q4 2018. These costs included a $106/oz impact associated with an adjustment to the carrying value of stockpile inventory in order to reflect the net realizable value of lower-grade stockpiled ore.
AISC1 for the FY2018 was $1,072/oz, which was within guidance for the year of $1,050-$1,150/oz.
During Q4 2018, the AGM sold 61,821 ounces of gold at an average realized gold price of $1,215/oz for total revenue of $74.2 million (including $0.2 million of by-product revenue and net of $1.1 million of gold sales related to pre-production activities at Esaase that were capitalized to mineral properties, plant and equipment), an increase of $11.5 million from Q4 2017. The increase in revenues quarter-on-quarter was a function of higher sales volumes in Q4 2018, partially offset by lower average realized gold prices.
Total cost of sales (including depreciation and depletion and royalties) amounted to $75.1 million in Q4 2018, an increase of $27.4 million from Q4 2017. The increase in production costs was primarily driven by a $9.3 million adjustment to the carrying value of the AGM’s stockpile inventory to reflect the net realizable value of lower-grade stockpiled ore, higher mining and overhead costs associated with the achievement of production performance targets, inflationary pressures on unit mining costs as well as higher gold ounces sold. Additionally, depreciation and depletion during Q4 2018 accounted for $5.7 million of the increase in cost of sales, compared to Q4 2017.
The AGM’s net loss after tax amounted to $3.1 million in Q4 2018, compared to a net loss of $9.3 million in Q4 2017. The reduction in net loss was due mainly to a reduction in deferred income tax expense and interest expense, the latter resulting from the settlement of the Red Kite debt in July 2018. These factors were partly offset by lower mine operating earnings in Q4 2018.
As at December 31, 2018, the JV had cash of $21.6 million on hand and $4.3 million in receivables from gold sales.
Asanko Gold Inc. – Summary of FY2018 and Q4 2018 Financial Results

Asanko Gold Inc. (consolidated) Q4 2017 Q3 2018 Q4 2018 FY 2017 FY 2018
Net income (loss) attributable to common shareholders ($m) (6.7 ) (0.3 ) (0.9 ) 5.8 (141.4 )
Net income (loss) per share attributable to common shareholders ($0.03 ) ($0.00 ) ($0.00 ) $0.03 ($0.64 )
Adjusted net income (loss)attributable to common shareholders1 ($m) (6.7 ) (1.6 ) (0.9 ) 5.8 1.9
Adjusted net income (loss) per share attributable to common shareholders1 ($0.03 ) ($0.01 ) ($0.00 ) $0.03 $0.01
Adjusted EBITDA1 ($m) 27.0 13.3 6.1 114.5 79.0
The Company reported a net loss attributable to common shareholders of $0.9 million in Q4 2018 compared to a net loss of $6.7 million in Q4 2017. The reduction in net loss for Q4 2018 was predominantly a result of the deconsolidation of the Company’s former Ghanaian subsidiaries and the recognition of $1.1 million in service fees (net of withholding tax) earned as operators of the JV.
Reported Adjusted EBITDA1 of $6.1 million for Q4 2018 compared to $27.0 million in Q4 2017. The decrease in Adjusted EBITDA1 was primarily a result of the higher cash costs incurred by the AGM in Q4 2018, as well as a reduction in the Company’s interest in the AGM from 100% to 45%.
For FY2018, the Company reported a net loss attributable to common shareholders of $141.4 million compared to net income attributable to common shareholders of $5.8 million in 2017. The reduction in net income for the year was predominantly the result of a $143.3 million loss associated with the loss of control of the AGM on July 31, 2018. In addition, the Company deconsolidated the results of its former Ghanaian subsidiaries effective July 31, 2018.
Reported Adjusted EBITDA1 of $79.0 million for FY2018 compared to $114.5 million in 2017. The decrease in Adjusted EBITDA1 was primarily a result of the higher cash costs incurred by the AGM in 2018, as well as a reduction in the Company’s interest in the AGM from 100% to 45%.
2019 Guidance
The Asanko Gold Mine JV announces 2019 production guidance of 225,000 – 245,000 ounces at AISC1 of $1,040 – $1,060/oz and AIC2 of $1,130 – US$1,150/oz, based on a $1,200/oz gold price. Corporate costs for Asanko Gold Inc. are expected to be $60 per attributable ounce over and above the AGM AISC1 and AIC2.

The AGM’s AISC1 in 2019 also includes $35/oz for the recently introduced Esaase trucking operation and $25/oz to account for the impact of the recent 5% non-refundable levy on goods & services that attract VAT in Ghana.

Total capital expenditure for 2019 is forecast to be $25 million. Sustaining capex is estimated at $9 million and includes a tailings dam lift. Development capital is forecast at $16 million, primarily for the development of Esaase and includes the commencement of a village relocation and the installation of two water treatment plants. In addition, $8 million is budgeted for exploration, mainly around the highly prospective Tontokrom – Miradani – Fromenda mineralized trend.

This news release should be read in conjunction with Asanko’s Management Discussion and Analysis and the Consolidated Annual Financial Statements for the year ended December 31, 2018, which are available at www.asanko.com and filed on SEDAR.
Notes:
1 Non-GAAP Performance MeasuresThe Company has included certain non-GAAP performance measures in this press release. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to the Non-GAAP Measures section of Asanko’s Management Discussion and Analysis for an explanation of these measures and reconciliations to the Company’s reported financial results in accordance with IFRS.

Operating Cash Costs per ounce and Total Cash Costs per ounceOperating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue per ounce of gold sold. Total cash costs include production royalties of 5%.
All-in Sustaining Costs Per Gold Ounce The Company has adopted the reporting of “all-in sustaining costs per gold ounce” (“AISC”) as per the World Gold Council’s guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion per ounce of gold sold.
Adjusted net income attributable to common shareholdersThe Company has included the non-GAAP performance measures of adjusted net income (loss) attributable to common shareholders and adjusted net income (loss) per common share. Neither adjusted net income nor adjusted net income per share have any standardized meaning and are therefore unlikely to be comparable to other measures presented by other issuers. Adjusted net income excludes certain non-cash items from net income or net loss to provide a measure which helps the Company and investors to evaluate the results of the underlying core operations of the Company and its ability to generate cash flows and is an important indicator of the strength of our operations and the performance of our core business.
Adjusted EBITDAEBITDA provides an indication of the Company’s continuing capacity to generate income from operations before taking into account the Company’s financing decisions and costs of amortizing capital assets. Accordingly, EBITDA comprises net income (loss) excluding interest expense, interest income, amortization and depletion, and income taxes. Adjusted EBITDA adjusts EBITDA to exclude non-recurring items and to include the Company’s interest in the adjusted EBITDA of the JV. Other companies and JV partners may calculate EBITDA and Adjusted EBITDA differently.
2 All in Costs Per OunceAll in Costs per ounce (“AIC") includes AISC as well as costs incurred at ‘new projects’ and costs related to ‘major projects at existing operations’ where these projects will materially benefit the operation. A material benefit to an existing operation is considered to be at least a 10% increase in annual or life of mine production, net present value, or reserves compared to the remaining life of mine of the operation.

Qualified Person StatementFrederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q4 2018 Operating & Financial Results Conference Call & Webcast - 9am ET on February 14, 2019

US/Canada Toll Free: +1 800 926 5082

UK Toll Free: 0800 496 0822

International: +1 212 231 2912

Webcast:
Please click on the link: https://cc.callinfo.com/r/1ot8ui8286kun&eom

About Asanko Gold Inc.
Asanko’s flagship project, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. For more information, please visit http://www.asanko.com.

Forward-Looking and other Cautionary InformationThis 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, investors should review the Company's Annual Form 40-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 (the “CIM Council”) Standards on Mineral Resources and Mineral Reserves (the “CIM Definition Standards”). The Securities and Exchange Commission (the “SEC”) has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC. As a result of the adoption of the SEC Modernization Rules, SEC will now recognize estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” that are “substantially similar” to the corresponding terms under the CIM Definition Standards. In addition, the SEC has amended its definitions of “proven mineral reserves” and “probably mineral reserves” to be “substantially similar” to the corresponding CIM Definitions. United States investors are cautioned that while the above terms are “substantially similar” to CIM Definitions, there is no assurance any mineral reserves or mineral resources that the Company may report as ”proven reserves”, “probable reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules.

Enquiries:
Alex Buck – Manager, Investor & Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44 7932 740 452
Email: alex.buck@asanko.com

Andrew J. Ramcharan – SVP, Corporate Development & IR
Toll-Free (N.America): 1-855-246-7341
Telephone: +1 647 309 5130
Email: andrew.ramcharan@asanko.com

Source: Asanko Gold Inc
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ProfitScout ProfitScout 5 years ago
ASANKO GOLD PROVIDES UPDATE ON ESAASE PROJECT

VANCOUVER, British Columbia, Feb. 01, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to provide an update on the development of the Esaase Project, which forms part of the multi-pit Asanko Gold Mine (the “AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko.

Highlights:

Successful completion of Esaase bulk sampling in Q4 2018
Trial mining operations at Esaase commenced in January 2019, as planned
Mined 95,899 tonnes @ 1.2 g/t in January 2019 @ 0.5g/t cut off grade
Development decision by JV partners to proceed with Esaase development expected Q2 2019
Updated NI 43-101 expected in Q2 2019
Commenting on the update, Peter Breese, President and CEO, said “The large-scale Esaase deposit provides an exciting near-term organic growth opportunity for the business. Ahead of a decision by the JV partners on the full-scale development plan in Q2 2019, it was appropriate to undertake a bulk sampling and trial mining operation and use the production and technical data to augment the updated Life of Mine plan. We are very encouraged by the results from the bulk sample and the trial mining so far, with the oxides performing well in the mill, throughput is exceeding expectations and gold recovery is in line with current levels experienced from other feed sources.”

Trial Mining Operation
Esaase is a large-scale permitted greenfields deposit located approximately 27 kms from the processing facility. A bulk sample was mined and processed through the central processing facility during Q4 2018, with the Esaase material performing above expectations. The trial mining operation, which commenced in January 2019 and will continue until end of June 2019, is focused on mining the surface oxides of the deposit. Mining is restricted to day shift only, with minimal blasting, and the material is being trucked to the processing facility via the newly commissioned haul road.

Mining rates are expected to approximate 350,000 - 400,000 tonnes per month during this period. Pre-production capital is estimated at US$18 million, of which US$11 million has been spent up to December 2018, and consists of initial infrastructure, mobilization of the mining contractor, initial mining works and the construction of a section of haul road to connect Esaase to the existing AGM haul road network.

Esaase Long-Term Development Plan
In 2017, Asanko published a Definitive Feasibility Study for the AGM, which included the development of Esaase and envisaged an overland conveyor to transport the ore from Esaase to the processing facility as part of the Project 5 Million (“P5M”) growth project. The Esaase mine, overland conveyor and the haul road are permitted.

Following the JV transaction with Gold Fields, which was concluded in July 2018, the JV partners undertook a detailed review of the proposed Esaase development plan and associated long-term ore transportation solution. This included a program of in-fill reverse circulation drilling and re-logging of historical core which has helped to better understand the geological controls to mineralization. All the new data is being compiled into updated Mineral Resource and Reserve Estimates.

In addition, other technical aspects such as the geotechnical, hydrogeological and metallurgical design parameters have also been re-evaluated, incorporating recent production data from the bulk sampling and trial mining operation. This, together with the updated Mineral Resource and Reserve Estimates, will result in an updated LoM plan that will confirm the optimal ore transportation solution and associated capital cost that will form the basis of the 2019 long term development plan for Esaase. This will be presented to the JV partners for a development decision in Q2 2019.

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

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, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. 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 the planned operations 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 40-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.


Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck – Manager, Investor & Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Andrew J. Ramcharan – SVP, Corporate Development & IR
Toll-Free (N.America): 1-855-246-7341
Telephone: +1 647 309 5130
Email: andrew.ramcharan@asanko.com
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finesand finesand 5 years ago
SP $0.70: MCAP $148.07M, EV $129.58M -> EV/R 0.86, EV/FCF 2.98 (cheap)

^^ our extrapolated numbers using 4Q18 known data and previous non-GAAP gross profit margins (FCF) w/o depreciation for mining operations. Multiplying the 4Q18 results simply by 4 as a lower estimate, produced more gold in previous quarters.

Industry average multiples, especially on debt free companies are EV/R 3 and EV/FCF 7.
Therefor the competitive SP should be at $1.40.

4Q18
- Operational 61.8koz x ($1215 price - $999 AISC) = $13.3M -> AKG $6.65M; re-invested in Esaase + $7M
- Revenues 61.8koz x $1215 price = $75.09M -> AKG $37.54M
- 29% Mining Op Gross Profits $10.89M (FCF)
- Cash US$25.9M by JV + US$10.4M AKG

> Cash $10.4M (AKG) + $12.95M (1/2 JV) = $23.35M
> Total Liabilities - Cash = $-18.49M
- SP $0.70: MCAP $148.07M, EV $129.58M -> EV/R 0.86, EV/FCF 2.98
- SP $0.80: MCAP $180.65M, EV $162.16M -> EV/R 1.08, EV/FCF 3.72
- SP $1.40: MCAP $316.13M, EV $297.64M -> EV/R 1.98, EV/FCF 6.83

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ProfitScout ProfitScout 5 years ago
ASANKO GOLD MINE DELIVERS RECORD GOLD PRODUCTION OF 223,152 OUNCES IN 2018 EXCEEDING UPPER END OF GUIDANCE

VANCOUVER, British Columbia, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) announces production results for the fourth quarter (“Q4”) and full year (“FY”) 2018 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko.

Q4 and FY 2018 financial and operating results will be published on February 14, 2019 with management hosting a conference call at 9am ET on the day, see further details below.

Q4 & FY 2018 Highlights (100% basis):

Record annual gold production in 2018 of 223,152 ounces, exceeding upper end of guidance of 200,000 – 220,000 ounces
Q4 gold production of 59,823 ounces
Q4 gold sales of 61,821 ounces, generating US$75.1 million from gold sales at an average realized price of US$1,215 per ounce
FY 2018 gold sales of 227,772 ounces, generating US$284.1 million from gold sales at an average realized price of US$1,247 per ounce
Zero lost time injuries during the quarter, continuing industry-leading safety LTIFR performance on a rolling 12 month basis of 0
Trial mining operation commenced at the large scale Esaase deposit
Approximately US$25.9 million held by the JV in unaudited cash and immediately convertible working capital balances, as at December 31, 2018, with an additional US$10.4 million of unaudited cash held at the Asanko corporate level
Commenting on the mine’s performance, Peter Breese, President and CEO, said, “The Asanko Gold Mine delivered another strong operational performance for the final quarter of 2018, producing 59,823 ounces for total annual gold production of 223,152 ounces which exceeded the top end of guidance.

During the quarter, the AGM started the initial development of the large-scale Esaase deposit with the completion of the haul road, site establishment of the mining contractor and commencement of trial mining operations. Key production information from the trial mining will assist with the finalization of the updated Life of Mine plans for the AGM which will also include updated Mineral Resource Estimates, revised mine plans and capital estimates. These are expected to be published in Q2 2019, ahead of an investment decision to progress with full-scale long-term mining operations at Esaase and the construction of the overland conveyor.”

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q4 2018 Operating & Financial Results Conference Call & Webcast - 9am ET on February 14, 2019

US/Canada Toll Free: +1 800 926 5082

UK Toll Free: 0800 496 0822

International: +1 212 231 2912

Webcast:
Please click on the link: https://cc.callinfo.com/r/1ot8ui8286kun&eom
Enquiries:

Alex Buck – Manager, Investor & Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44 7932 740 452
Email: alex.buck@asanko.com Andrew J. Ramcharan – SVP, Corporate Development & IR
Toll-Free (N.America): 1-855-246-7341
Telephone: +1 647 309 5130
Email: andrew.ramcharan@asanko.com
About Asanko Gold Inc.
Asanko’s flagship project, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. For more information, please visit http://www.asanko.com.

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, investors should review the Company's Annual Form 40-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.
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ProfitScout ProfitScout 5 years ago
Asanko Gold Senior Management Appointments

VANCOUVER, British Columbia, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce Rob Slater’s new role as Executive Vice President of Strategy and the appointment of Dr. Andrew J. Ramcharan (PhD, P.Eng, FAusIMM) as Senior Vice President of Corporate Development and Investor Relations and member of the Asanko Executive Committee, effective immediately.

Dr. Andrew J. Ramcharan joins Asanko from Sprott Resources where he was Managing Director of Project Evaluation for both debt and equity sides. He has over 18 years’ experience in operations, project evaluation, mergers and acquisitions, corporate development, project finance and investor relations. During his career, Andrew has worked for a number of well-respected companies including IAMGOLD Corporation and Resource Capital Funds. He holds a B.Eng degree in Mining Engineering, and a Master’s and Ph.D degree in Mining and Minerals Economics.

Dr. Ramcharan is also a Registered Member of The Society for Mining, Metallurgy and Exploration (SME) in USA, Licensed Professional Engineer in Ontario, Canada and Fellow of The Australasian Institute of Mining and Metallurgy. Dr. Ramcharan is a graduate of the Colorado School of Mines, University of Leoben and completed Harvard University’s Continuing Education program.

Commenting on the appointments, Peter Breese, President & CEO, said “With the Gold Fields Joint Venture transaction now completed, it’s the appropriate time to realign our management team accordingly. As Asanko’s lead representative, Rob will focus on managing the Joint Venture structures as well as our corporate strategy, and I am delighted to welcome Andrew to the team to lead our corporate development and investor relations initiatives. Andrew brings a unique combination of experience, sound technical knowledge and capital markets expertise to Asanko.”

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, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. 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.

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: http://www.asanko.com, email: info@asanko.com or contact:

Alex Buck – Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Andrew J. Ramcharan – SVP, Corporate Development and Investor Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +1 647 309 5130

Email: andrew.ramcharan@asanko.com

Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
Asanko Gold Launches the Women in Mining “Botae Pa Initiative”

VANCOUVER, British Columbia, Oct. 23, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce the launch of the Asanko Women in Mining “Botae Pa Initiative” at the Asanko Gold Mine (“AGM”) in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko.

Literally translated from the Ghanaian Akan language to mean “Good Purpose”, the Botae Pa Initiative is dedicated to the empowerment and furtherance of women at the Asanko Gold Mine and its catchment communities. This Initiative has been the brainchild of the Asanko Women in Mining Chapter and is being funded 50:50 by the mine and its contractors.

The Botae Pa Initiative’s projects will be focused on achieving gender equality and empowering women and girls by promoting the mining sector to women as an exciting career choice, focusing on the needs of women and girls in the local communities in the areas of education, health, access to finance and business, and supporting the professional development of Asanko’s women through mentoring and networking programs.

The Botae Pa Initiative builds on Asanko’s existing corporate social responsibility (“CSR”) programs and meets the globally recognized United Nation’s Sustainable Development Goal #5 “Achieve gender equality and empower all women and girls”. To date, Asanko’s CSR programs, under the umbrella of “The Asanko Opportunity Cycle”, have focused on education, health, access to capital and financial literacy, vocational training and assisting local businesses.

Commenting on the launch, Peter Breese, President & CEO, said, “Gender diversity isn’t just a buzzword of the moment, it makes good business sense to have a workforce that is made up of the best male and female talent out there.

"It’s important that we continue to develop and promote the women within our business, as well as the girls in our local communities, as they are the next generation of leaders and decision makers and the Botae Pa Initiative provides a dedicated platform to fulfil this.

"CSR is key to Asanko’s business and its long-term viability as a successful gold producer in Ghana. Over the past decade, we have built up a strong social license to operate and have been recognized for our award-winning CSR projects. The Botae Pa Initiative will complement these ongoing programs as well as deliver on our commitment to the UN’s SDG #5. I congratulate the Asanko Women in Mining Chapter for setting up this Initiative.”

Alongside the Botae Pa Initiative, Asanko also has a formal Women in Mining Charter outlining its commitment to gender diversity and empowerment, as well as a number of female-friendly policies designed to increase the number of women at the Asanko Gold Mine, which currently stands at approximately 10% for 2018 and is above the national average of 7% in the mining industry in Ghana. Amongst these policies are: prioritizing female applicants for vacant roles, provision of site accommodation for all women on the mine, maternity leave extended from 14 to 16 weeks and the provision of site accommodation and meals for all nursing mothers and their nannies.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck – Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@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, located in Ghana, West Africa, is the jointly owned Asanko Gold Mine with Gold Fields Ltd, which Asanko manages and operates. 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.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
AKG is an excellent gold play with market prices for the commodity on the rise now.

Gold Prices Power To 3-Mo. High On Safe-Haven Demand
Jim Wyckoff  
Tuesday October 23, 2018 08:16
https://www.kitco.com/news/2018-10-23/Gold-Prices-Power-To-3-Mo-High-On-Safe-Haven-Demand.html
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jedijazz jedijazz 6 years ago
Per yesterday's PR for AKG, You can listen to the recent Webcast:
Please click on the link: https://cc.callinfo.com/r/1olxigpk29h4v&eom

Replay:
A recorded playback will be available approximately two hours after the call until December 8, 2018:

US/Canada Toll Free: 800 558 5253

UK Toll Free: 0800 692 0831

International: +1 416 626 4100

Passcode: 21895203
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ProfitScout ProfitScout 6 years ago
AKG is exceeding expectation as we saw in this week's news. The company will also be benefiting from rising gold prices as political instability continues around the world.

Gold Prices Lifted By Geopolitical Worries
Jim Wyckoff,  Kitco News
Thursday October 18, 2018 13:16
Link:
https://www.kitco.com/news/2018-10-18/Gold-Prices-Lifted-By-Geopolitical-Worries.html
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jedijazz jedijazz 6 years ago
Very nice news! Nice sales numbers: Sales of 65,267 ounces, generating US$78.2 million in gold revenue at an average realized price of US$1,198 per ounce
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ProfitScout ProfitScout 6 years ago
Asanko Gold Announces q3 2018 Production Results for the Asanko Gold Mine

VANCOUVER, British Columbia, Oct. 17, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) announces production results for the third quarter (“Q3”) of 2018 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa. The AGM is a 50:50 joint venture (“JV”) with Gold Fields Ltd (JSE, NYSE: GFI) which is managed and operated by Asanko.

Q3 2018 Highlights (100% basis):

Record quarterly gold production of 61,599 ounces, tracking higher end of H2 2018 guidance of 110,000 – 120,000 ounces
Quarterly gold sales of 65,267 ounces, generating US$78.2 million in gold revenue at an average realized price of US$1,198 per ounce
Mining operations ahead of plan, bolstered by resumption of steady state operations at Nkran
Strong quarterly mill performance, processing 1.3 million tonnes of ore
Zero lost time injuries during the quarter, continuing industry-leading safety LTIFR performance on a rolling 12 month basis of 0
Esaase pre-production program on schedule, with bulk sample planned in Q4 2018

Approximately US$33.5 million held by the JV in unaudited cash and immediately convertible working capital balances, as at September 30, 2018, with an additional US$14.3 million of unaudited cash held at the Asanko corporate level

Commenting on the quarter’s performance Peter Breese, President and CEO, said “The Asanko Gold Mine delivered a third consecutive quarter of solid production results for the year, tracking the top end of 2018 guidance with production of 61,599 ounces for the quarter and 163,329 ounces year to date. The mine is well positioned to meet full year gold production guidance of 200-220,000 ounces.

The Esaase pre-production program is advancing according to plan, with site establishment well underway and preparations for the bulk sample exercise on schedule for Q4 2018, in anticipation of approval from the JV partners to commence mining in Q1 2019.”

Health and Safety
There were no lost time injuries (“LTI”) reported during the quarter. As at September 30, 2018, the mine achieved over eighteen months without a Lost Time Injury with 9,223,124 million man hours worked.

Production
During the quarter, the AGM sourced ore from Nkran, Nkran Extension, Akwasiso and Dynamite Hill. Nkran operated throughout the quarter at steady state production levels following the substantial completion of the Eastern push back in June 2018, with 1.1 million tonnes (“Mt”) of ore mined at a grade of 1.5g/t. The Western portion of Cut 2 is also progressing on schedule.

The processing plant delivered another strong result for the quarter, milling 1.3Mt and maintaining its performance well above the recently upgraded process design of 5 million tonnes per annum. Metallurgical recovery at 94% continues to attain a level higher than originally planned despite significant volume throughput improvements.

AGM Key Production Statistics (100% basis) Units Q4 2017 Q1 2018 Q2 2018 Q3 2018
Total Tonnes Mined 000 t 11,494 12,743 10,759 10,814
Waste Tonnes Mined 000 t 10,692 11,976 9,814 9,084
Ore Tonnes Mined 000 t 802 767 945 1,730
Strip Ratio W:O 13.3:1 15.7:1 10.4:1 5.3:1
Average Gold Grade Mined g/t 1.5 1.3 1.5 1.4
Ore Treated 000 t 1,087 1,269 1,374 1,299
Gold Feed Grade g/t 1.5 1.3 1.4 1.6
Gold Recovery % 94 93 94 94
Gold Produced oz 51,550 48,229 53,501 61,599
Esaase Update
In anticipation of a mining and trucking operation at Esaase, which is expected to commence in Q1 2019 following JV approval in Q4 2018, a pre-production program commenced during the quarter. The intial phase of the program is site establishment in preparation for a bulk mining sample exercise that will take place in Q4 2018. Bush clearing is underway and grade control drilling is in progress. The purpose of the bulk sampling exercise is to confirm the previous co-leaching test work results that mixes ore from this new source with existing ore sources to support an investment decision by the JV partners. In addition construction has commenced on the haul road linking Esaase to the existing haul road infrastructure and this is expected to be completed before year end.

Sales and Liquidity
Gold production for the quarter was 61,599 ounces with gold sales of 65,267 ounces at an average realized price of US$1,198 per ounce, generating gold sales revenue of US$78.2 million for the JV. At September 30, 2018 the JV held approximately US$30.4 million in unaudited cash, US$1.2 million in gold receivables and US$1.9 million in dore (with a market value of US$2.4 million). The Company held an additional US$14.3 million in unaudited cash, and is scheduled to receive a further US$20 million in cash related to the JV transaction by no later than December 31, 2019.

Qualified Person Statement

Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as definedby Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q3 2018 Operating & Financial Results Conference Call & Webcast - 9am ET on November 8, 2018

US/Canada Toll Free: 800 771 6781

UK Toll Free: 0800 496 0830

International: +1 212 231 2913

Webcast:
Please click on the link: https://cc.callinfo.com/r/1olxigpk29h4v&eom


Replay:
A recorded playback will be available approximately two hours after the call until December 8, 2018:

US/Canada Toll Free: 800 558 5253

UK Toll Free: 0800 692 0831

International: +1 416 626 4100

Passcode: 21895203
Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@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.

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 40-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.


Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
Joint Asanko Gold and Gold Fields Presentation and Webcast at the Denver Gold Forum

VANCOUVER, British Columbia, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) President and CEO, Peter Breese and Gold Fields Limited (JSE/NYSE: GFI) CEO, Nick Holland will host a joint presentation and webcast with analysts and investors at the Denver Gold Forum at 7:25 am MDT on Monday, September 24, 2018. Details below.

Conference Call Details:
Monday, September 24, 2018 7:25 am MDT
US/Canada Toll Free: 1 800 734 8507
UK Toll Free: 0800 496 0825
International: +1 415 226 5359
Webcast:Please click on the link: https://cc.callinfo.com/r/1l3s8hbvmlmli&eom

Replay
A recorded playback will be available approximately two hours after the call until October 24, 2018:
US/Canada Toll Free: 1 800 558 5253
International: +1 416 626 4100
Passcode: 21895189
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: http://www.asanko.com, email: info@asanko.com or contact:

Alex Buck – Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
Millennium Management LLC Buys 225,095 Shares of Asanko Gold Inc (AKG)
September 9th, 2018 - By Kayla Sanchez
 
https://www.mareainformativa.com/2018/09/09/asanko-gold-inc-akg-shares-bought-by-millennium-management-llc-updated-updated-updated.html

Millennium Management LLC increased its stake in shares of Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) by 155.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 369,795 shares of the basic materials company’s stock after purchasing an additional 225,095 shares during the quarter. Millennium Management LLC owned 0.16% of Asanko Gold worth $370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. A.R.T. Advisors LLC increased its position in Asanko Gold by 363.5% during the 1st quarter. A.R.T. Advisors LLC now owns 126,353 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 99,090 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Asanko Gold by 3,221.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,975,880 shares of the basic materials company’s stock valued at $2,101,000 after buying an additional 2,886,280 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Asanko Gold by 14.4% in the 1st quarter. Franklin Resources Inc. now owns 11,368,675 shares of the basic materials company’s stock valued at $11,459,000 after buying an additional 1,429,000 shares during the period.
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ProfitScout ProfitScout 6 years ago
Asanko Gold Reports Q2 2018 Results

VANCOUVER, British Columbia, Aug. 02, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) reports its second quarter (“Q2”) 2018 operating and financial results. The Company released its production and revenue results for Q2 on July 12, 2018. All amounts are in US dollars unless otherwise stated. Management will host a conference call and webcast today at 9am Eastern Time, further details below.

Q2 2018 Highlights:

Gold production of 53,501 ounces and half year production of 101,731 ounces, exceeding upper end of H1 2018 guidance of 90,000 – 100,000 ounces
Quarterly gold sales of 51,785 ounces at an average realized price of $1,286 per ounce generating gold revenue of $66.6 million
Mining operations at Nkran returned to steady state levels in June, mining 178,000 tonnes at 1.9g/t
Another record quarterly mill throughput achieved with 1.37 million tonnes of ore processed
No LTIs during the quarter or on a rolling 12-month basis, maintaining industry leading LTIFR of zero per million man hours worked
Operating cash costs2 of $582/oz (Q1 2018: $571/oz) and total cash costs2 of $646/oz (Q1 2018: $637/oz)
AISC3 decreased 13% quarter on quarter to $1,068/oz (Q1 2018: $1,226/oz), while AISC3 of $1,145/oz for the half year was below the Company’s H1 2018 cost guidance of $1,200-1,300/oz
Cash provided by operating activities of $13.4 million ($28.6 million before working capital changes), compared to $19.1 million in Q1 2018. The reduction in cash provided by operating activities was primarily due to change in non-cash working capital and higher exploration expenditures
Net loss attributable to common shareholders of $142.3 million ($0.63/common share) solely attributable to the recognition of a loss ($144.6 million) due to the reclassification of the Company’s Ghanaian subsidiaries to assets and associated liabilities held for sale, resulting from the Gold Fields JV Transaction
Adjusted net income attributable to common shareholders of $2.3 million ($0.01/common share)
As at June 30, 2018, including assets classified as held for sale, the Company had cash and immediately convertible working capital of $48.1 million, of which $18.8 million is attributable to Asanko post-completion of the Gold Fields JV Transaction
Receipt of amended Environmental Permit for Esaase which includes a trucking operation
Completion of $185.0 million Gold Fields JV Transaction, with Gold Fields acquiring a 50% interest in all of Asanko’s Ghanaian interests, including the Asanko Gold Mine. Asanko to remain operator and manager of the Asanko Gold Mine
Repayment in full of the Red Kite project debt facility with proceeds from the Gold Fields JV Transaction, Asanko now debt free
Commenting on the quarter Peter Breese, President and CEO, said: “The mine’s solid operational performance for the quarter, predominantly the mill’s fantastic performance and Nkran resuming steady-state operations, enabled us to beat the top end of our guidance for the first half of 2018, producing 101,731 ounces at AISC3 of $1,145/oz. We are well positioned to meet our H2 2018 and full year guidance.

AISC3 decreased by 13% to $1,068/oz quarter on quarter, as the Eastern portion of the Nkran Cut 2 pushback was completed ahead of schedule, resulting in a 32% reduction in deferred stripping costs. Processing costs also dropped again this quarter as a result of the mill’s record throughput, posting a 23% decrease since we commissioned the P5M volumetric plant upgrade in Q4 2017. We maintained profitable operations this quarter, reporting an adjusted net income attributable to common shareholders of $2.3 million or $0.01 per common share.

This quarter pre-production work at Esaase got underway in anticipation of commencing mining operations in Q1 2019. The focus was primarily on additional infill exploration drilling and an extensive core re-logging exercise to improve the understanding of the geology and controls to mineralization within the Esaase pit. In addition, we also received an amended Environmental Permit that includes a trucking operation to transport ore from Esaase to the central processing facility, which completes the permitting process for Esaase. We expect an initial development decision to be made by the Joint Venture management committee in Q4 2018.”

This news release should be read in conjunction with Asanko’s Management Discussion and Analysis and the Unaudited Condensed Consolidated Interim Financial Statements for the three and six months ended June 30, 2018, which are available at www.asanko.com and filed on SEDAR.


Key Operating and Financial Highlights
Asanko Gold Mine 100% Basis
Q2 2018 Q1 2018 Q2 2017
Waste Mined (‘000t) 9,814 11,976 6,457
Ore Mined (‘000t) 945 767 1,049
Average Gold Grade Mined (g/t) 1.5 1.3 1.5
Strip Ratio (W:O) 10.4:1 15.7:1 6.2:1
Mining Cost ($/t mined) 3.65 3.23 3.22
Ore Treated (‘000t) 1,374 1,269 887
Gold Feed Grade (g/t) 1.4 1.3 1.7
Gold Recovery (%) 94 93 94
Processing Cost ($/t treated) 9.95 11.17 12.80
Gold Production (oz) 53,501 48,229 46,017

Gold Sales (oz) 51,785 48,899 48,461
Average Realized Gold Price ($/oz) 1,286 1,314 1,238
Operating Cash Costs2 ($/oz) 582 571 572
Total Cash Costs2 ($/oz) 646 637 634
All-in Sustaining Costs3 ($/oz) 1,068 1,226 930
All-in Sustaining Margin1 ($/oz) 218 88 308

Revenue ($m) 66.8 64.4 60.2
Production Costs, including Royalties ($m) 33.8 31.6 31.3
Income from Mine Operations ($m) 16.1 19.5 14.5
Net income (loss) attributable to common shareholders ($m) (142.3) 2.1 0.6
Net income (loss) per share attributable to common shareholders ($0.63) $0.01 $0.00
Adjusted net income attributable to common shareholders ($m) 1 2.3 2.1 0.6
Adjusted net income per share attributable to common shareholders1 $0.01 $0.01 $0.00

Cash provided by operating activities ($m) 13.4 19.1 33.7
Cash provided by operating activities before working capital changes ($m) 28.6 30.5 26.7
Cash provided by operating activities per common share1 $0.06 $0.09 $0.17

Q2 2018 Operating Results

• The Company produced 53,501 ounces of gold for Q2 2018 and 101,731 ounces of gold for the half year, exceeding the upper end of H1 2018 guidance of 90,000 – 100,000 ounces.
• Ore mining rates for Q2 2018 averaged 315,000 tonnes per month (“tpm”) at an average mining grade of 1.5g/t and a strip ratio of 10.4:1. Ore tonnes and average grade mined increased from Q1 2018 as steady state mining operations resumed at Nkran in June.
• During the quarter, the Asanko Gold Mine (“AGM”) sourced ore from Nkran, Akwasiso, Dynamite Hill and on-surface stockpiles:

At Nkran, 321,000 tonnes of ore was mined at an average grade of 1.8 g/t while mining operations focused on progressing the Eastern portion of the Cut 2 pushback. In June, steady state operations resumed a month ahead of schedule, mining 178,000 tonnes at 1.9g/t.
The Akwasiso satellite deposit delivered 356,000 tonnes of ore at a grade of 1.1g/t and Dynamite Hill delivered 251,000 tonnes of ore at an average grade of 1.9 g/t.
• There were no lost time injuries (“LTI”) reported during the quarter, and the AGM has now achieved over fifteen months and more than 7.7 million man hours worked without a single LTI.
• During Q2 2018, the processing plant achieved another quarterly record milling performance of 1.37 million tonnes (“Mt”), which exceeds the design throughput rate of the recently upgraded 5Mtpa processing plant. In order to meet the higher-than-planned throughput, mined ore was supplemented with lower-grade stockpiled ore, resulting in lower plant feed grades (1.4g/t), compared to the average grade that was mined during the period.
• Completed the commissioning of the recovery circuit upgrades and installation of the new upgraded mill motor on the SAG mill. In addition, a secondary cone crusher was installed during the quarter, which contributed to a finer product being delivered to the SAG mill. The addition of this crusher to the circuit contributed to the significant improvement in processing throughput rate for the quarter.
• Gold recovery continued to exceed design at 94% despite the elevated mill throughput rates and lower feed grade.
• Completed the commissioning of the P5M recovery circuit upgrades.
• On July 31, 2018, the Company announced the completion of the $185.0 million JV Transaction with Gold Fields under which Gold Fields acquired a 50% interest in all of Asanko’s Ghanaian interests, including the AGM. Asanko to remain operator and manager of the AGM.
• The Company received an amended Esaase Environmental Permit, which allows for a trucking operation to haul ore from the large-scale Esaase deposit to the central processing facility at the AGM. With the receipt of the amended permit, the Esaase mine is now fully permitted.
• In support of commencing mining operations at Esaase in January 2019, an extensive pre-production program got underway at Esaase, including additional infill exploration drilling and an extensive core re-logging exercise to improve the definition of the geology and controls to mineralization within the proposed pit and to facilitate a more robust resource model. All the new data will be incorporated to enhance the Mineral Resource Estimate and associated mine plan for Esaase which is targeted to be completed during Q4 2018.

Q2 2018 Financial Performance

The Company recognized revenues of $66.8 million in Q2 2018 compared to $60.2 million in Q2 2017. The $6.6 million increase in revenues was a result of higher sales volume, augmented by higher average realized selling prices.
Total cost of sales (including depreciation and depletion and royalties) amounted to $50.7 million in Q2 2018, an increase of $5.0 million from Q2 2017. The increase in cost of sales was predominantly due to a $2.5 million increase in depreciation and depletion resulting from a higher asset cost base, as well as increased mill throughput, in Q2 2018 compared to Q2 2017. In addition, cost of sales was $1.9 million higher in Q2 2018 compared to the prior year as a result of higher sales volumes, which also gave rise to a $0.3 million increase in royalty expense.
The Company reported a net loss attributable to common shareholders of $142.3 million in Q2 2018 compared to net income of $0.6 million in Q2 2017. The net loss during Q2 2018 was solely attributable to the recognition of a loss ($144.6 million) due to reclassification of the Company’s Ghanaian subsidiaries to net assets held for sale, resulting from the Gold Fields JV Transaction. In addition, the Company incurred higher exploration expense ($1.7 million increase) and an increase in finance expense of $1.0 million. These factors were partially offset by higher mine operating earnings ($1.6 million increase) and a lower income tax expense ($2.2 million decrease).
Adjusted net income attributable to common shareholders was $2.3 million in Q2 2018, compared to $0.7 million in Q2 2017, corresponding to the $1.6 million higher income from mine operations.
Mining costs averaged $3.65/t mined during Q2 2018 compared to $3.22/t in Q2 2017. Mining costs per tonne were higher than Q2 2017 as a result of higher drilling and blasting and loading and hauling costs associated with the progression of Cut 2 at Nkran. Of the mining costs incurred during Q2 2018, a total of $17.8 million was deferred as stripping costs.
Processing costs averaged $9.95/t milled compared to $12.80/t in Q2 2017. Processing unit costs were lower than Q2 2017 due the very strong operating performance of the plant, which on an annualized basis surpassed the newly upgraded throughput levels of 5Mtpa. As a result, there was a 55% increase in treated tonnes compared to Q2 2017, which had the impact of decreasing fixed processing costs on a per unit basis. In addition, the Company benefitted from a reduction in the unit price of power.
In Q2 2018, the Company incurred operating cash costs per ounce2, total cash costs per ounce2 and AISC3 of $582, $646 and $1,068, respectively.
AISC3 for H1 2018 was $1,145/oz, which is below the Company’s H1 2018 cost guidance of $1,200-$1,300/oz. The relatively lower AISC for H1 2018 was a result of more gold ounces sold relative to plan and lower processing costs and overhead expenses.
Cash provided by operating activities in Q2 2018 was $13.4 million, a 60% decrease from Q2 2017. Operating cash flow before working capital changes was $28.6 million in Q2 2018, 7% higher than Q2 2017 of $26.7 million. The increase in operating cash flows before working capital changes was primarily due to higher revenues, partially offset by higher cash production costs and exploration expenditures.
Q2 2018 Liquidity and Capital Resources

As at June 30, 2018, the Company had cash of $42.4 million on hand, $0.8 million in receivables from gold sales and unrefined gold dore at a cost of $5.1 million (and a market value of $6.8 million).
Concurrent with the closing of the JV Transaction, the Company used the proceeds from the Gold Fields JV Transaction to repay in full the outstanding debt principal and accrued interest to Red Kite. Asanko is now debt-free.
2018 Guidance

The Company is on track to meet its 2018 guidance of 200,000 - 220,000 ounces at AISC3 of $1,050 - 1,150/oz for 2018.

For H1 2018, the Company exceeded guidance producing 101,731 ounces at AISC3 of $1,145/oz against a forecast of 90,000 - 100,000 ounces at AISC3 of $1,200 - 1,300/oz.

In H2 2018, with Nkran Cut 2 pushback yielding steady-state levels of ore production, guidance is expected to be 110,000 - 120,000 ounces at AISC3 $950 - 1,050/oz.

Notes:
1 Non-GAAP Performance Measures

The Company has included certain non-GAAP performance measures in this press release, including working capital, operating cash costs, total cash costs, all-in sustaining costs per ounce of gold produced, all-in sustaining margin and operating cash flow per common share. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

2 Operating Cash Costs per ounce and Total Cash Costs per ounce

Operating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue per ounce of gold sold. Total cash costs include production royalties of 5%.

3 All-in Sustaining Costs Per Gold Ounce
The Company has adopted the reporting of “all-in sustaining costs per gold ounce” (“AISC”) as per the World Gold Council’s guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion per ounce of gold sold.

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q2 2018 Operating & Financial Results Conference Call & Webcast today at 9am ET


US/Canada Toll Free: 800 954 0629

UK Toll Free: 0800 496 0445

International: +1 212 231 2933

Webcast:
Please click on the link: https://cc.callinfo.com/r/1l06ddgf0g2fx&eom

Replay:
A recorded playback will be available approximately two hours after the call until September 1, 2018:

US/Canada Toll Free: 800 558 5253

UK Toll Free: 0800 692 0831

International: +1 416 626 4100

Passcode: 21891372

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. 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 InformationThis 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 most recent AIF and 40-F filings, available under the Company’s profile on SEDAR at www.sedar.com and EDGAR 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.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
Asanko Gold Announces Q2 2018 Production Results

7:00 am ET July 12, 2018 (Globe Newswire)

Quarterly gold production of 53,501 ounces and half year production of 101,731 ounces, exceeding upper end of H1 2018 guidance of 90,000 – 100,000 ounces
Quarterly gold sales of 51,785 ounces, generating US$66.6 million in gold revenue at an average realized price of US$1,286 per ounce
Mining operations at Nkran returned to steady state levels in June, mining 178,000 tonnes at 1.9g/t
Another record quarterly mill throughput achieved with 1.37 million tonnes of ore processed
Zero lost time injuries during the quarter, maintaining industry-leading safety LTIFR record on a rolling 12 month basis of 0
Receipt of amended Esaase Environmental Permit to include a trucking operation
Approximately US$48.1 million in unaudited cash and immediately convertible working capital balances as at June 30, 2018

VANCOUVER, British Columbia, July 12, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) announces production results for the second quarter (“Q2”) of 2018 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa.

Commenting on the quarter Peter Breese, President and CEO, said “The Asanko Gold Mine delivered another set of solid production results this quarter, exceeding the top end of our H1 2018 guidance. Steady state levels of ore production at Nkran resumed in June, a month ahead of schedule, and the processing facility achieved yet another quarterly milling record. We are well positioned to meet our H2 2018 and full year guidance.”

Health and Safety
There were no lost time injuries (“LTI”) reported during the quarter. As at June 30, 2018, the mine achieved over fifteen months without a Lost Time Injury with 7,700,352 million man hours worked.

Production
During the quarter, the AGM sourced ore from Nkran, Akwasiso, Dynamite Hill as well as on-surface stockpiles. Whilst mining operations at Nkran continued to focus on waste removal as part of the ongoing larger Cut 2 push back, in June steady state levels of ore production resumed, a month ahead of schedule. Mined gold grades for the quarter were in line with the plan and increased slightly over Q1 2018 with the additional of ore from Nkran.

The processing plant achieved yet another quarterly record milling performance of 1.37 million tonnes, processing a monthly record of 479,361 tonnes in June, which is well above the recently upgraded design of 5 million tonnes per annum. Feed grades to the processing facility were lower than the grade of ore mined due lower grade stockpiles supplementing the ore feed to meet the required volumes being processed by the mill, which were well above the plan. Metallurgical recovery was in line with the plan despite significantly higher volume throughput at lower feed grade.

In H2 2018, gold grade and production is expected to be higher as Nkran continues to deliver steady state levels of ore production, with the Company targeting production of 110,000 - 120,000 ounces.

AGM Key Production Statistics Units Q3 2017 Q4 2017 Q1 2018 Q2 2018
Total Tonnes Mined 000 t 8,519 11,494 12,743 10,759
Waste Tonnes Mined 000 t 7,339 10,692 11,976 9,814
Ore Tonnes Mined 000 t 1,180 802 767 945
Strip Ratio W:O 6.2:1 13.3:1 15.7:1 10.4:1
Average Gold Grade Mined g/t 1.8 1.5 1.3 1.5
Ore Treated 000 t 862 1,087 1,269 1,374
Gold Feed Grade g/t 1.9 1.5 1.3 1.4
Gold Recovery % 94 94 93 94
Gold Produced oz 49,293 51,550 48,229 53,501
Esaase Permitting Update
Asanko recently received an amended Environmental Permit from the Ghanaian Environmental Protection Agency which includes a trucking operation to haul ore from the large scale Esaase deposit to the central processing facility at the AGM. With the receipt of the amended permit, the Esaase mine is now fully permitted. A decision to proceed with the initial development of Esaase is expected in Q3 2018.

Sales and Liquidity
Gold production for the quarter was 53,501 ounces with gold sales of 51,785 ounces at an average realized price of US$1,286 per ounce, generating gold sales revenue of US$66.6 million. At June 30, 2018 the Company’s balance sheet held approximately US$42.3 million in unaudited cash, US$0.7 million in gold receivables and US$5.1 million in dore (with a market value of US$7.1 million).

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q2 2018 Operating & Financial Results Conference Call & Webcast at 9am ET on Thursday, August 2, 2018

US/Canada Toll Free: 800 954 0629
UK Toll Free: 0800 496 0445
International: +1 212 231 2933

Webcast:
Please click on the link: https://cc.callinfo.com/r/1l06ddgf0g2fx&eom

Replay:
A recorded playback will be available approximately two hours after the call until September 1, 2018:
US/Canada Toll Free: 800 558 5253
UK Toll Free: 0800 692 0831
International: +1 416 626 4100
Passcode: 21891372
Enquiries: For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@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.

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 40-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.


Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
Asanko Gold Receives Ghana Government Approval for US$185 Million Gold Fields Joint Venture Transaction

VANCOUVER, British Columbia, June 22, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE MKT:AKG) is pleased to announce that it has received approval from the Ghanaian Minister of Lands and Natural Resources, whose approval was the principal condition to the closing of Asanko’s previously announced joint venture transaction (the “Transaction”) with Gold Fields Limited (JSE, NYSE: GFI) for a 50% interest in Asanko’s 90% interest in the Asanko Gold Mine in Ghana, West Africa.

Completion of the Transaction is now expected in early July, 2018. The final form of the joint venture agreement will be publically filed after completion. Completion now remains subject only to certain customary closing documentation and a lender’s consent from Exp T2 Ltd. (“Red Kite”), which are all expected to be in-hand in the ordinary course before the targeted completion time.

Red Kite has agreed to defer the first principal repayment, approximately US$20 million, due on July 1, 2018 until August 1, 2018 to facilitate the Transaction. Asanko intends to use the cash proceeds from the Transaction to repay in full all outstanding principal and accrued interest (US$164 million) owing to Red Kite under the Definitive Senior Facilities Agreement. There are no early repayment penalties associated with the Red Kite debt.

Peter Breese, President and CEO, said “I’d like to thank the Minister of Lands and Natural Resources for expediting approval of our Joint Venture transaction with Gold Fields and our in-country advisors, Kimathi and Partners, who have guided us through this approval process. Upon conclusion of this Transaction and repayment of the Red Kite debt facility, we will be debt-free and poised to grow our business and expand our production base.”

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.

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 InformationThis release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the completion of announced agreements including the agreement with Gold Fields, future operations and completion conditions 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 unexpected third party requirements, the absence of any material adverse events between the date hereof and completion.. 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 40-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.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc
👍️0
ProfitScout ProfitScout 6 years ago
Asanko Gold Reports Q1 2018 Results

VANCOUVER, British Columbia, May 10, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) reports its first quarter (“Q1”) 2018 operating and financial results. The Company released its production and revenue results for Q1 2018 on April 19, 2018. All amounts are in US dollars unless otherwise stated. Management will host a conference call and webcast today at 9am Eastern Time, further details below.

Q1 2018 Highlights:

No lost time injuries during the quarter or on a rolling 12 month basis, maintaining industry leading lost time injury frequency rate (“LTIFR”) of 0 per million man hours worked.

Quarterly gold production of 48,229 ounces, in line with H1 2018 guidance of 90,000 – 100,000 ounces.
Gold sales of 48,899 ounces at an average realized price of $1,314/oz generating gold revenue of $64.2 million.

Reduction in operating cash costs2 to $571/oz (Q4 2017: $586/oz) and total cash costs2 to $637/oz (Q4 2017: $649/oz).

AISC3 of $1,226/oz (Q4 2017: $1,171/oz), in line with the Company’s H1 2018 cost guidance, including a total of $533/oz associated with deferred striping, of which $467/oz is attributable to the investment in the larger Cut 2 pushback at Nkran.

Cash provided by operating activities of $19.1 million ($30.5 million before working capital changes), compared to $34.4 million in Q4 2017 primarily due to changes in non-cash working capital, partially offset by a higher revenue and lower production costs for the quarter.
Earned net income attributable to common shareholders of $2.1 million ($0.01 per common share), a $9.3 million increase relative to Q4 2017.
Cash and immediately convertible working capital of $42.9 million, as at March 31, 2018.

Announced a joint venture arrangement with Gold Fields under which Gold Fields will acquire a 50% interest in all of Asanko’s Ghanaian interests, including the Asanko Gold Mine. Asanko to remain operator and manager of the Asanko Gold Mine. Gold Fields to pay the Company $185 million for its interest and also subscribed for $17.6 million of common shares of Asanko on April 4, 2018.

Commenting on the quarter Peter Breese, President and CEO, said “The mine’s strong operational performance was mirrored in the financial results for the quarter as we returned to profitability. The record mill throughput for the quarter drove down processing unit costs by 13% relative to Q4 2017 and helped to ensure AISC3 was at the lower end of our forecast guidance for H1 2018.

During the quarter we continued to focus on waste stripping the larger optimized Nkran pushback, which accounted for 38% of our quarterly AISC3. This planned waste stripping exercise is progressing ahead of schedule and we expect commercial quantities of ore from Nkran to resume in Q3 2018, which will have the effect of increasing mill feed grades and lowering our AISC3 in H2 2018.

Net income attributable to common shareholders for the quarter was $2.1 million, a $9.3 million improvement compared to the previous quarter, due to a decrease in deferred income tax expense, a higher average realized gold price and lower production costs.

During the quarter we also announced a $185 million joint venture transaction with Gold Fields Limited (JSE, NYSE: GFI), one of the world’s largest gold producers and the second largest gold producer in Ghana, who will acquire 50% of Asanko’s interest in the Asanko Gold Mine. We will continue to operate and manage the mine, which is a great vote of confidence in both the quality of the asset as well as the management team. The transaction is progressing well and we remain on track for closing before the end of Q3 2018.”

This news release should be read in conjunction with Asanko’s Management Discussion and Analysis and the Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2018, which are available at www.asanko.com and filed on SEDAR.


Key Operating and Financial Highlights
Asanko Gold Mine
Q1 2018 Q4 2017 Q1 2017
Waste Mined (‘000t) 11,976 10,692 5,620
Ore Mined (‘000t) 767 802 1,017
Strip Ratio (W:O) 15.7:1 13.3:1 5.5:1
Mining Cost ($/t mined) 3.23 2.82 3.89
Ore Treated (‘000t) 1,269 1,087 908
Gold Feed Grade (g/t) 1.3 1.5 2.1
Gold Recovery (%) 93 94 95
Processing Cost ($/t treated) 11.17 12.91 13.3
Gold Production (oz) 48,229 51,550 58,187

Gold Sales (oz) 48,899 49,561 57,812
Average Realized Gold Price ($/oz) 1,314 1,264 1,199
Operating Cash Costs2 ($/oz) 571 586 578
Total Cash Costs2 ($/oz) 637 649 638
All-in Sustaining Costs3 ($/oz) 1,226 1,171 956
All-in Sustaining Margin1 ($/oz) 88 93 243

Revenue ($m) 64.4 62.8 69.5
Production Costs, including Royalties ($m) 31.6 32.5 37.7
Income from Mine Operations ($m) 19.5 15.1 15.1
Net income (loss) attributable to common shareholders ($m) 2.1 (7.1 ) 7.7
Net income (loss) per share attributable
to common shareholders $0.01 $(0.03 ) $0.04

Cash provided by operating activities ($m) 19.1 34.4 14.4
Cash provided by operating activities before working capital changes ($m) 30.5 26.2 28.8
Cash provided by operating activities per common share1 $0.09 $0.17 $0.07
Q1 2018 Operating Results

During Q1 2018, the Company produced 48,229 gold ounces as the Company continued to focus on operational delivery against plan, while progressing the larger Cut 2 pushback at Nkran, which is ahead of schedule.
Ore mining rates for Q1 2018 averaged 255,667 tonnes per month (“tpm”) at an average mining grade of 1.3 g/t and a strip ratio of 15.7:1. Ore tonnes and average grade mined were lower relative to Q1 2017, as expected, due to lower ore yield from Nkran. Mining operations at Nkran continued to focus on waste removal as part of the ongoing larger Cut 2 pushback, resulting in a higher strip ratio.
Average grade mined and gold production is forecasted to increase in the second half of the year when Cut 2 at Nkran will start delivering steady state levels of ore production, thereby reducing the dependence on stockpiles and increasing the grade delivered to the mill.
During the quarter, the AGM sourced ore from Nkran, Akwasiso, Dynamite Hill and Nkran Extension as well as on-surface stockpiles.
At Nkran, 34,333tpm of ore was mined at an average grade of 1.3 g/t while mining operations focused on progressing the larger Cut 2 pushback.
The Akwasiso satellite deposit delivered approximately 147,000tpm of ore at a grade of 1.2g/t and Dynamite Hill, the second satellite pit to be brought into production, delivered 67,333tpm of ore at an average grade of 1.6 g/t.
There were no lost time injuries (“LTI”) reported during the quarter. On March 19, 2018, the AGM achieved one-year LTI-free with over 5.9 million man hours worked.
During Q1 2018, the processing plant achieved another quarterly record milling performance of 1.3 million tonnes (“Mt”), processing a monthly record of 432,410 tonnes in March, which is above the recently upgraded design of 5Mtpa throughput. The feed grade to the plant was 1.3 g/t during Q1 2018.
Gold recovery continued to exceed design at 93% despite the elevated mill throughput rates and lower feed grade.
Completed the installation of the P5M recovery circuit upgrades with commissioning expected to be complete in Q2 2018.
The secondary crusher was delivered to the AGM and is expected to be installed in Q2 2018 and commissioned during Q3 2018.
On March 29, 2018, the Company announced a joint venture arrangement with Gold Fields Limited under which Gold Fields will acquire a 50% interest in all of Asanko’s Ghanaian assets, including the AGM.
Q1 2018 Financial Performance

The Company recognized revenue of $64.4 million in Q1 2018 from the sale of 48,899 gold ounces at an average realized gold price of $1,314/oz, compared to $69.5 million in Q1 2017. The $5.1 million decrease in revenues relative to Q1 2017 was a result of lower sales volume, partly offset by a higher average realized selling price.
Total cost of sales (including depreciation, depletion and royalties) amounted to $44.9 million in Q1 2018, a decrease of $9.5 million from Q1 2017. The decrease in production costs was largely due to lower sales volumes and inventory valuation adjustments.
Net income attributable to common shareholders of $2.1 million in Q1 2018 compared to net income of $7.7 million in Q1 2017. The decrease in net income during Q1 2018 was primarily attributable to a higher deferred income tax expense ($9.0 million increase) and an increase in finance expense of $1.0 million. These factors were partially offset by higher mine operating income ($4.4 million increase) and lower G&A expense ($0.5 million decrease). Net income before tax for Q1 2018 was $11.9 million compared to $7.6 million during Q1 2017, a 58% increase.
Mining costs averaged $3.23/t mined compared to $3.89/t in Q1 2017. Mining costs per tonne were lower than Q1 2017 as a result of a higher relative oxide material mix as well as the progression of Cut 2 at Nkran resulting in more tonnes mined, which had the impact of decreasing fixed mining costs on a per unit basis. Of the mining costs incurred during Q1 2018, a total of $26.1 million was deferred as stripping costs.
Processing costs averaged $11.17/t milled compared to $13.36/t in Q1 2017. Processing unit costs were lower than Q1 2017 due to the plant operating at the newly upgraded levels of 5Mtpa for the quarter, resulting in a 40% increase in treated tonnes compared to Q1 2017, which had the impact of decreasing fixed processing costs on a per unit basis.
The Company incurred operating cash costs per ounce2, total cash costs per ounce2 and AISC3 of $571, $637 and $1,226, respectively, in Q1 2018. The high AISC3 in Q1 2018 is in line with the Company’s H1 2018 cost guidance and is a result of the Company’s investment in mine development associated with the larger Cut 2 pushback at Nkran.
Cash provided by operating activities in Q1 2018 was $19.1 million, a 33% increase from Q1 2017. Operating cash flow before working capital changes was $30.5 million in Q1 2018, 6% higher than Q1 2017 of $28.8 million. The increase in operating cash flows before working capital changes was primarily due to a decrease in the Company’s production costs and general and administrative expenses in Q1 2018, partially offset by lower revenues.
Q1 2018 Liquidity and Capital Resources

As at March 31, 2018, the Company had cash of $38.6 million on hand, $0.8 million in receivables from gold sales and unrefined gold dore at a cost of $3.5 million (and a market value of $5.3 million).
On April 4, 2018, as part of the joint venture arrangement, Gold Fields purchased a 9.9% interest in the common shares of the Company via a private placement for gross proceeds of $17.6 million (22,354,657 common shares at $0.79 per common share).
On July 1, 2018, the first principal repayment of the Red Kite debt is due, however Asanko expects to repay the Red Kite debt facility from the proceeds of the JV transaction. In the event that the JV Transaction has not completed by July 1, 2018, Gold Fields has agreed to provide a bridge loan of up to $20.0 million to Asanko, which can be drawn at Asanko’s sole discretion. The bridge loan will be credited towards Gold Fields’ contribution to the Joint Arrangement on closing. Closing of the Gold Fields transaction is expected to occur before the end of Q3 2018. Upon closing, Asanko will emerge as a debt free company.
2018 Guidance

The Company is targeting 200,000 - 220,000 ounces at AISC3 of $1,050 - 1,150/oz for 2018, however the first half of the year is expected to have lower production and higher costs due to the focus on waste stripping the Nkran Cut 2 pushback, with guidance of H1 2018 of 90,000 - 100,000 ounces at AISC3 of $1,200 - 1,300/oz expected. In Q1 2018 Asanko’s production and AISC3 were both well within the guidance range.

In H2 2018, the Nkran Cut 2 pushback will commence yielding steady-state levels of ore production and therefore guidance is 110,000 - 120,000 ounces at AISC3 $950 - 1,050/oz.

Notes:
1 Non-GAAP Performance MeasuresThe Company has included certain non-GAAP performance measures in this press release, including working capital, operating cash costs, total cash costs, all-in sustaining costs per ounce of gold produced, all-in sustaining margin and operating cash flow per common share. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

2 Operating Cash Costs per ounce and Total Cash Costs per ounceOperating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue per ounce of gold sold. Total cash costs include production royalties of 5%.

3 All-in Sustaining Costs Per Gold Ounce
The Company has adopted the reporting of “all-in sustaining costs per gold ounce” (“AISC”) as per the World Gold Council’s guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion per ounce of gold sold.

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Q1 2018 Operating & Financial Results Conference Call & Webcast at 9am ET on Thursday, May 10, 2018

US/Canada Toll Free: 800 768 3232

UK Toll Free: 0800 496 0830

International: + 1 212 271 4651

Webcast:
Please click on the link: https://cc.callinfo.com/r/1rmbvkh4ab6mf&eom

Replay:
A recorded playback will be available approximately two hours after the call until June 9, 2018:
US/Canada Toll Free: 800 633 8284
International: +1 402 977 9140
Passcode: 21887966


Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

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. 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 InformationThis 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 the Company’s most recent AIF and 40-F filings, available under the Company’s profile on SEDAR at www.sedar.com and EDGAR 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.

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc
© 2018 GlobeNewswire, Inc.
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ProfitScout ProfitScout 6 years ago
Asanko Gold Publishes 2017 Corporate Social Responsibility Report

VANCOUVER, British Columbia, May 07, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) today publishes its 2017 Corporate Social Responsibility (“CSR”) Report, which provides a detailed review of Asanko’s CSR strategy and performance during the year, including its contribution to both the local communities in which it operates and its host country, Ghana.

Peter Breese, President and CEO, said, “We believe genuine sharing of the benefits generated by the mine is key to supporting economic development and growth in our local communities and host country, ultimately underpinning the future success of our business.

In 2017, we expanded the involvement of indigenous companies in our operations and awarded the open pit mining contracts for the Akwasiso and Dynamite Hill satellite deposits to locally-based companies, Thonket and Rocksure respectively. As a result, we now have Ghanaian businesses involved in every aspect of our mine, from mining contractors through to key supplies, power, fuel, to catering and transport. 99% of our workforce is Ghanaian, of which 37% are from the local communities surrounding the mine.

In 2017, our economic contribution to Ghana was just over $255 million, supporting 277 Ghanaian businesses, 78 of which are from the Ashanti region where the mine is located, with the purchase of goods and services valued at $167 million.”

To learn more about Asanko’s CSR activities, please view the 2017 CSR Report on the Company’s website: http://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.

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.

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: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Source: Asanko Gold Inc
© 2018 GlobeNewswire, Inc.
👍️0
ProfitScout ProfitScout 6 years ago
Asanko Gold Annual General Meeting Information

VANCOUVER, B.C., May 03, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE MKT:AKG) advises it will hold its Annual General Meeting of shareholders (“AGM”) on Friday June 8, 2018 at 10am PDT, in Vancouver, B.C., Canada.

Materials for the AGM, including the Company’s management proxy circular (the “Proxy Circular”), have been filed under the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov and are also available on the Company’s website at www.asanko.com/Investors/AGM-Materials/.

In the Proxy Circular, the Company provides details of its proposal to re-elect its current slate of seven directors and reappoint KPMG LLP as auditors.

Shareholder Questions:

Shareholders who have any questions or require assistance with voting may contact Asanko’s Proxy Solicitation Agent:

Laurel Hill Advisory GroupToll Free: 1-877-452-7184
International: +1 416-304-0211 outside Canada and the US
By Email: assistance@laurelhill.com

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: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N. America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
Asanko Gold Announces Q1 2018 Production Results

Q1 2018 Highlights:

Quarterly gold production of 48,229 ounces and gold sales of 48,899 ounces, in line with H1 2018 guidance of 90,000 – 100,000 ounces
US$64.2 million in gold revenue at an average realized price of US$1,314 per ounce
Nkran Cut 2 push back progressing ahead of schedule
Record quarterly mill throughput of 1.27 million tonnes, demonstrating the processing plant’s ability to sustain throughput at newly upgraded levels of 5Mtpa
Zero lost time injuries and industry-leading safety LTIFR record on a rolling 12 month of 0.
Approximately US$43.2 million in unaudited cash and immediately convertible working capital balances as at March 31, 2018

VANCOUVER, British Columbia, April 19, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) announces production results for the first quarter (“Q1”) of 2018 from the Asanko Gold Mine (“AGM”), located in Ghana, West Africa.

Commenting on the quarter Peter Breese, President and CEO, said, “This is the second consecutive quarter that the mine has performed ahead of the optimized Life of Mine Plan, which was introduced in late Q3 2017. The mine performed exceptionally well and is ahead of plan on the key metrics of gold production, grade and mill throughput. The enlarged Nkran push back is progressing ahead of schedule and the mill delivered yet another record milling performance, both for the quarter and for the month of March, which is very encouraging. We are on track to meet our plan and guidance for H1 2018.

I would also like to take this opportunity to congratulate the entire team for achieving our first year without any lost time injuries, this is a fantastic result and I’m pleased to see such diligent commitment by all our employees and contractors to working in a safe environment and ensuring every one of us goes home safely after each shift. ”

Health and Safety
There were no lost time injuries (“LTI”) reported during the quarter. On March 19, 2018, the mine achieved one year LTI-free with over 5,945,246 million man hours worked.

Production
During the quarter, the AGM sourced ore from Nkran, Akwasiso, Dynamite Hill and Nkran Extension as well as on-surface stockpiles. Mining operations at Nkran continued to focus on waste removal as part of the ongoing larger Cut 2 push back, with a consequent increase in the strip ratio. Gold grades for the quarter were lower, as expected, due to the lower ore yield from Nkran, and feeding lower grade surface stockpiles to the mill. Grade and gold production is expected to be biased towards the second half of the year when Cut 2 at Nkran will start delivering steady state levels of ore production, thereby reducing the dependence on stockpiles.

The processing plant achieved another quarterly record milling performance of 1.27 million tonnes, processing a monthly record of 432,410 tonnes in March, which is above the recently upgraded design of 5 million tonnes per annum throughput. Metallurgical recovery was slightly ahead of plan and continued to exceed design levels despite higher mill throughput and lower feed grade.


AGM Key Production Statistics Units Q2 2017 Q3 2017 Q4 2017 Q1 2018
Total Tonnes Mined 000 t 7,506 8,519 11,494 12,743
Waste Tonnes Mined 000 t 6,458 7,339 10,692 11,976
Ore Tonnes Mined 000 t 1,048 1,180 802 767
Strip Ratio W:O 6.2:1 6.2:1 13.3:1 15.7:1
Average Gold Grade Mined g/t 1.5 1.8 1.5 1.3
Ore Treated 000 t 887 862 1,087 1,269
Gold Feed Grade g/t 1.7 1.9 1.5 1.3
Gold Recovery % 94 94 94 93
Gold Produced oz 46,017 49,293 51,550 48,229

Sales and Liquidity
Gold production for the quarter was 48,229 ounces with gold sales of 48,899 ounces at an average realized price of US$1,314 per ounce, generating gold sales revenue of US$64.2 million. At March 31, 2018 the Company’s balance sheet held approximately US$38.9 million in unaudited cash, US$0.8 million in gold receivables and US$3.5 million in dore (with a market value of US$5.3 million).

Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.



Q1 2018 Operating & Financial Results Conference Call & Webcast at 9am ET on Thursday, May 10, 2018
US/Canada Toll Free: 800 768 3232
UK Toll Free: 0800 496 0830
International: + 1 212 271 4651

Webcast:
Please click on the link: https://cc.callinfo.com/r/1rmbvkh4ab6mf&eom

Replay:
A recorded playback will be available approximately two hours after the call until June 9, 2018:
US/Canada Toll Free: 800 633 8284
International: +1 402 977 9140
Passcode: 21887966


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.

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 InformationThis 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 40-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.

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc
👍️0
ProfitScout ProfitScout 6 years ago
Asanko Gold Wins Outstanding Workplace Malaria Control Award

VANCOUVER, British Columbia, April 10, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) is pleased to announce that the Asanko Gold Mine has won the Outstanding Workplace Malaria Control Award, presented by the Private Sector Malaria Prevention Project (“PSMP”) at John Hopkins Center for Communication, as part of the West Africa Regional Malaria Safe awards.

The Asanko Gold Malaria Safe Mine Champions

Asanko’s award fell under the Sustainability-Focused Malaria Programing category and had peers such as Exxon Mobil (Nigeria), Access Bank (Nigeria) and Ecobank (Ghana), all of whom received similar awards.

Commenting on the award, Peter Breese, President and CEO, said “We are delighted to win this West Africa Regional Award recognizing our efforts to combat malaria amongst our workforce. I’d like to congratulate all our Malaria Safe Mine Champions for their role in educating colleagues on malaria prevention strategies as we work towards a malaria-free mine.”

The PSMP aims to accelerate private-sector workplace investments in malaria prevention; corporate insecticide-treated net distribution to employees, their families and their communities; and workplace malaria education sessions for employees and community members.

In a bid to reduce the burden of malaria on the mine and its surrounding communities, the Asanko Malaria Control Program was launched in February this year. 40 Asanko Malaria Safe Mine Champions have been trained to drive the malaria campaign in their respective departments and influence malaria safe behaviours among fellow employees. Since its launch, the Asanko Malaria Control Program has conducted mass health education and awareness campaigns on malaria, its signs and symptoms, as well as preventive strategies to avoid the disease, including distribution of mosquito repellents and long lasting insecticide nets, larviciding and 3T patient management to help achieve a significant reduction in malaria.

The PSMP’s Malaria Safe initiative is designed to help companies tackle malaria as a health issue in the workplace, as well as in adjoining communities with the ultimate goal being to build a partnership of active companies that are protecting employees and communities from the disease. It is funded by the UK Department for International Development and implemented by the Johns Hopkins Center for Communication Programs with partners such as the National Malaria Control Program of the Ghana Health Service, the Global Business Coalition on Health (GBCHealth).

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. 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.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/18be1795-7475-4e73-9cf0-6e1fabf95d73

Enquiries:

For further information please visit: http://www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
Asanko Gold Completes US$17.6 Million Private Placement by Gold Fields for 9.9% Interest in Asanko

VANCOUVER, British Columbia, April 05, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) is pleased to announce that it has completed the previously announced private placement with Gold Fields Limited (“Gold Fields”) (JSE:GFI) (NYSE:GFI), pursuant to which a subsidiary of Gold Fields has acquired a 9.9% interest in Asanko. The private placement involved the issue of 22,354,657 common shares of Asanko at a price of approximately US$0.79 (C$1.01) per share for total aggregate proceeds of US$17.6 million.

Concurrent with the completion of the private placement, Asanko entered into an investor rights agreement with the Gold Fields subsidiary which provides certain rights to Gold Fields to participate in future Asanko share issuances in order to maintain its 9.9% shareholding for up to five years. In addition, Gold Fields has agreed that it will standstill at this level of ownership for a one year period unless Asanko otherwise consents, and will support Asanko management nominees at shareholder meetings.

The completion of the private placement is the first step in the series of transactions under which Asanko and Gold Fields will, among other things, form an incorporated 50:50 joint venture in the Asanko Gold Mine (the “JV Transaction”). Completion of the JV Transaction remains subject to customary conditions precedent including that no material adverse event occurs and the Ghanaian Minister of Lands and Natural Resources does not object. Completion of the JV Transaction is expected to occur before the end of Q3 2018.

The private placement shares are subject to a four month hold period in Canada. The shares were not and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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. 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.

About Gold Fields Limited
Gold Fields Limited is a globally diversified gold producer with seven operating mines in Australia, Ghana, Peru and South Africa, and a total attributable annual gold-equivalent production of approximately 2.2 million ounces. It has attributable gold Mineral Reserves of around 49 million ounces and gold Mineral Resources of around 104 million ounces. Attributable copper Mineral Reserves total 764 million pounds and Mineral Resources 4,881 million pounds. Gold Fields has a primary listing on the Johannesburg Stock Exchange (JSE) Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SIX).

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 the completion of announced agreements including the agreement with Gold Fields, 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 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at http://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.


Enquiries:

For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc
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ClayTrader ClayTrader 6 years ago
* * $AKG Video Chart 03-29-18 * *

Link to Video - click here to watch the technical chart video

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ProfitScout ProfitScout 6 years ago
Asanko Gold to Receive US$185 Million From Gold Fields for 50% Joint Venture Interest and US$17.6 Million for 9.9% Private Placement in Asanko Gold

VANCOUVER, British Columbia, March 29, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) is pleased to announce that it has entered into certain definitive agreements under which Asanko will receive US$185 million for a 50% joint venture (“JV”) interest in its Asanko Gold Mine (“AGM”) from subsidiaries of Gold Fields Limited (“Gold Fields”) (JSE:GFI) (NYSE:GFI), one of the world’s largest gold producers and the second largest gold producer in Ghana.

Under the various transaction agreements (“Transactions”), Asanko and Gold Fields will, among other things, form an incorporated 50:50 corporate JV which will own Asanko’s 90% interest in the Asanko Gold Mine (the “AGM”) and all associated properties in Ghana. The Government of Ghana will continue to hold a free-carried 10% interest. In addition to the JV interest, Gold Fields will purchase a 9.9% shareholding interest in Asanko for approximately US$17.6 million to purchase 22,354,657 shares at approximately US$0.79, equal to the 5-day VWAP as of market close on March 27, 2018. Asanko will host an investor conference call at 9am ET today, details below.

Transaction Highlights

Asanko will receive from Gold Fields: US$165 million in cash, payable upon closing of the JV Transaction expected before end of Q3 2018US$20 million in cash, also payable for the JV Transaction, on an agreed Esaase development milestone but in any event no later than December 31, 2019US$17.6 million from Gold Fields for a 9.9% private placement in Asanko shares at a price of US$0.79 anticipated to be completed in the immediate future
Asanko will remain the manager and operator of the AGM and will continue to be paid an arm’s length management fee for services rendered to the JV of approximately US$6 million per annum
Asanko will use the proceeds primarily to repay its outstanding Red Kite debt of US$164 million
Asanko views the JV as a significantly superior outcome than a restructuring of the Red Kite debt facility as it provides a balanced risk/return profile and creates a debt free platform that will enable Asanko to accelerate growth opportunities and pursue its strategy of becoming a mid-tier gold producer
“This transaction presents a unique opportunity for Asanko to de-risk its future production targets whilst at the same time eliminating corporate debt. With a healthy balance sheet and robust operational cash flows, together with a strong technical endorsement, our Life of Mine plan is assured,” said Asanko President and CEO, Peter Breese.

“After carefully weighing the benefits of this transaction, we have determined that it is superior to the alternative of engaging with Red Kite to extend our debt. With the repayment of the Red Kite debt, Asanko has achieved significant financial flexibility moving forward as we seek to continue to grow our business over the medium term.”

“The mine is now operating well within our business targets, with mining efficiencies and the process plant delivering ahead of plan. With this new investment and the freeing up of our balance sheet, we will now move forward with the development of our large scale Esaase deposit, with a view to commencing production in 2019 with an interim trucking operation until the conveyor is fully operational in late 2020. We look forward to working in partnership with Gold Fields and sharing mining and exploration expertise to create added value for all our stakeholders.”

Nicholas Holland, CEO of Gold Fields, commented: “West Africa is an important part of our business and we look forward to a long partnership with Asanko in Ghana. We view the Asanko Gold Mine as a high quality asset and a great addition to our existing portfolio of open pit gold operations in the country.”

Transaction Rationale

Significantly improved balance sheet Asanko emerges debt free following repayment of Red Kite FacilityStrong attributable pro forma cash position of approximately US$35 million (US$55 million including deferred consideration) as at March 23, 2018
World-Class Partner with Experience in Ghana Gold Fields is Ghana’s second largest gold producer with more than 20 years of in-country experienceGold Fields brings considerable technical and exploration expertise that complements Asanko’s existing development and operating capabilities
Management and Asset Validation Partnership endorses Gold Fields confidence in Asanko’s mine operator capabilitiesPartnership validates the AGM from a technical and operational perspective
Well Positioned for Future Growth Near-term organic growth self funded by the AGM from internally generated cash flowsRobust balance sheet with which to fund growth initiatives
Further Transaction Particulars
Under the terms of the Transaction, on closing, Gold Fields will acquire a 50% participating interest in Asanko’s 90% ownership interest in the AGM for an aggregate US$185 million in cash, of which US$165 million is payable upon closing. The remaining US$20 million is payable upon achievement of an agreed Esaase development milestone but in any event by no later than December 31, 2019.

The closing of the Transaction is expected to occur before end of Q3 2018 and is subject to customary conditions precedent including that no material adverse event occurs and Ghanaian Minister of Lands and Natural Resources does not object.

The Transaction will impact the recognition, presentation and measurement of assets and liabilities associated with the Company’s Ghanaian operations. The results of which are expected to result in a non cash impairment charge based on the JV Transaction indicative asset value.

The Joint Venture Agreement
Asanko will remain the manager (operator) of the AGM. A management committee will be formed, with representatives from each party, to govern the operating and development activities of JV. The JV will continue to pay Asanko an arm’s length management fee for services rendered of approximately US$6 million per annum. The JV will fund its growth from operating cash flow. The JV Agreement has customary terms for program participation elections, dilution of equity interest for non-participation, sole risk rights for new projects and expedited dispute resolution.

The Private Placement and Investor Rights Agreement
Gold Fields has agreed to purchase 22,354,657 common shares of the Company through a private placement, at a price of approximately US$0.79 per share (the “Private Placement”) equal to the 5-day VWAP as of market close on March 27, 2018. The net proceeds of the Private Placement will total approximately US$17.6 million, which will further strengthen Asanko’s balance sheet. These shares are subject to a customary four month resale restricted period in Canada. In connection with the Private Placement, Gold Fields will sign an investor rights agreement with Asanko under which Gold Fields will receive certain rights to participate in future Asanko share issuances in order to maintain its 9.9% shareholding for up to five years. In addition, Gold Fields has agreed that it will standstill at this level of ownership for a one year period unless Asanko otherwise consents, and will support Asanko management nominees at shareholder meetings. The Private Placement is anticipated to be completed in the immediate future and has received conditional TSX approval.

Repayment of the Red Kite Debt
Asanko will use the JV Transaction cash to repay in full all outstanding principal and accrued interest (US$164 million) owing to RK Mine Finance Trust I (“Red Kite”) under the Definitive Senior Facilities Agreement upon closing. There are no early repayment penalties associated with the Red Kite debt. Red Kite’s current gold offtake agreement will remain in effect until all outstanding ounces have been delivered to Red Kite or the JV elects to terminate the offtake and pay the associated fee.

In the event that the JV Transaction has not completed by July 1, 2018, when the first principal repayment of the Red Kite debt is due, Gold Fields has also agreed to provide a bridge loan of up to US$20 million for Asanko, to be drawn at Asanko’s sole discretion. The bridge loan will be credited towards Gold Fields’ contribution to the Joint Venture on closing. If closing does not complete for any reason, the bridge loan will be repayable, after written demand with a 30 day notice, at any time after six months from the date of advance of the bridge loan. If Asanko does not repay the bridge loan, the bridge loan claim would effectively be used to subscribe for new common shares of Asanko, up to the point where Gold Fields would own 19.9% of the outstanding Asanko shares, and the balance would be repaid in cash. Pricing of these shares is subject to TSX policy.

Development of Esaase Proceeding
The development of the large-scale Esaase deposit will commence in 2018 and initial production is expected in Q1 2019 with an interim trucking operation of approximately 1.5 million tonnes per annum during 2019 and 2020. The pre-production capital associated with opening up Esaase is approximately US$9 million, of which US$7 million is expected to be spent in 2018. A trucking permit has been applied for and is anticipated before the end of 2018.

2018 Guidance and 5 Year Outlook
As announced on March 15, 2018, the Company released its 2018 Guidance and 5-Year Outlook, which is summarized below. This Transaction will enable the AGM to generate strong cash flows to fund its capital requirements over the next three years.

Asanko Gold Mine 100% basis 2018 2019 2020 2021 2022 2023
Ore tonnes mined 000’t 4,300-4,700 7,300 7,560 5,450 6,980 6,400
Average grade mined g/t 1.4 1.4 1.5 1.3 1.5 1.4
Tonnes processed 000’t 4,700-5,000 5,000 5,000 5,000 5,000 5,000
Mill head grade g/t 1.5 1.7 1.8 1.5 1.8 1.7

Gold Production 000’oz 200-220 255 280 220 265 245
AISC1 US$/oz 1,050-1,150 950 810 905 775 880

Total capex US$m 19.5 75.0 100.5 31.5 9.0 18.2
Notes: Based on US$1,250/oz gold and construction of the overland conveyor in 2019/20

Advisors
In connection with this transaction, BMO Capital Markets and Taurum International acted as financial advisors and McMillan LLP acted as legal counsel to Asanko. Fasken Martineau DuMoulin LLP acted as legal counsel to Gold Fields.

Notes:
1 Non-GAAP Performance MeasuresThe Company has included certain non-GAAP performance measures in this press release, including all-in sustaining costs per gold ounce (“AISC”). These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

The Company has adopted the World Gold Council’s guidance for reporting of AISC. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion for each ounce of gold sold.

Qualified Persons
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng.) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the mining technical contents of this news release.

Management Conference Call & Webcast Details - 9am ET on Thursday, March 29, 2018

A presentation is available at: www.asanko.com.

Conference Call:
US/Canada Toll Free: (800) 909-4985
UK Toll Free: 08004960445
International: +1 (212) 231-2929

Webcast:
Please click on the link: https://cc.callinfo.com/r/144darwuupsw3&eom

Replay:
A recorded playback will be available approximately two hours after the call until April 28, 2018:
US/Canada Toll Free: 800 558 5253
UK Toll Free: 0800 692 0831
International: +1 416 626 4100
Passcode: 21886753

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. 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.

About Gold Fields Limited
Gold Fields Limited is a globally diversified gold producer with seven operating mines in Australia, Ghana, Peru and South Africa, and a total attributable annual gold-equivalent production of approximately 2.2 million ounces. It has attributable gold Mineral Reserves of around 49 million ounces and gold Mineral Resources of around 104 million ounces. Attributable copper Mineral Reserves total 764 million pounds and Mineral Resources 4,881 million pounds. Gold Fields has a primary listing on the Johannesburg Stock Exchange (JSE) Limited, with secondary listings on the New York Stock Exchange (NYSE) and the Swiss Exchange (SIX).

Forward-Looking and other Cautionary InformationThis release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address the completion of announced agreements including the agreement with Gold Fields, 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 40-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).

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc
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shanak10 shanak10 6 years ago
https://www.otcmarkets.com/stock/AKG/news/story?e&id=1041168
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ProfitScout ProfitScout 6 years ago
Asanko Gold Reports Q4 and Full Year 2017 Results, Provides 2018 Guidance and a 5-Year Outlook

VANCOUVER, British Columbia, March 15, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) reports its fourth quarter (“Q4”) and full year (“FY”) 2017 operating and financial results, as well as 2018 guidance and updated outlook. The Company released its production and revenue results for Q4 2017 on January 18, 2018. All amounts are in US dollars unless otherwise stated. Management will host a conference call and webcast today at 9am Eastern Time, further details below.

FY 2017 Highlights:

Financial

Gold sales of 206,079 ounces at an average realized gold price of $1,243 per ounce generating gold revenue of $256.2 million
Cash provided by operating activities of $123.2 million, an increase of 124% compared to FY 2016
Net income attributable to common shareholders of $6.1 million ($0.03 per common share), a $19.3 million increase relative to FY 2016
Cash and immediately convertible working capital of $54.6 million as at December 31, 2017
Operating

Gold production of 205,047 ounces, within 2017 amended guidance range
AISC3 of $1,007/oz versus guidance of $920 – 960/oz, primarily due to higher capitalized pre-stripping costs at Nkran
Introduction in Q4 2017 of optimized mine plan associated with P5M - includes larger Cut 2 pushback at Nkran to provide higher ore yields during the next capital growth phase of the AGM, expected to commence in 2019
Mining flexibility increased with addition of Akwasiso and Dynamite Hill brought into production
Successfully completed process plant volumetric upgrades, now achieving rates at or above 5Mtpa on a consistent basis
Acquisition of highly prospective Miradani concession area, adjacent to the AGM
Corporate

Expansion DFS confirmed economic viability of two growth projects, P5M and P10M
Indicative term sheet signed with Red Kite, subject to fees, terms and conditions, to defer first principal repayment by up to three years to enable construction of conveyor in 2019 – definitive agreements expected to be signed in early Q2 2018
2018 Guidance

Targeting 200,000 – 220,000 ounces of gold at AISC3 of $1,050 – 1,150/oz, weighted in favour of H2 2018 when ore yields from Nkran resume steady state production levels• H1 2018: 90,000 – 100,000 ounces at AISC3 of $1,200 – 1,300/oz • H2 2018: 110,000 – 120,000 ounces at AISC3 of $950 – 1,050/oz
5-Year Outlook (2019 – 2023)

Optimized mine plan, using current mine operating data, has improved the multi-pit schedule and reduced the overall strip ratio to deliver competitive AISC3 over a life of mine of 19 years
Average annual production over outlook period (2019 – 2023) of 253,000 ounces at AISC3 of $860/oz, an increase in ounces and improvement in AISC3 versus previous P5M unoptimized plan of 243,000 ounces at AISC3 of $1,007/oz
Optimized plan generates improved cashflows to provide Asanko with sufficient liquidity during the period of capital spend on Esaase, the installation of the overland conveyor and subsequent debt repayment
Commenting on the Company’s performance, Peter Breese, President and CEO, said, “2017 was a challenging year and we learned some important lessons from the operational issues we faced. The introduction of the new resource models at Nkran and Akwasiso together with a number of new mining and processing systems during H2 2017 are producing the desired results. I believe we now have the foundations in place going forward to deliver quarter-on-quarter against our plan.

Looking ahead to 2018, this will be a year of investment to give us future mining flexibility as we accelerate the larger pushback of the Nkran pit during a period in which we have low capital expenditure, in order to ensure higher ore yields, lower costs, and consequently solid cash generation during our next growth phase. 2018 will have relatively high all-in sustaining costs, especially in the first half of the year. However, we expect to start reaping the benefits of the larger Nkran Cut 2 pushback in the second half of 2018 and into 2019 and beyond.

The optimized mine plan, associated with the execution of P5M, successfully delivers a robust average production profile of 253,000oz/yr at competitive AISC3 of $860/oz over the five-year period from 2019 to 2023. This increase in ounces and lowering of costs, over our previous forecast, will generate substantial cash flow during our project build and debt servicing periods. At current gold prices, it provides a robust AISC margin of approximately $450/oz and positions us at the mid point of the second quartile on the industry cost curve.

On the corporate side, in anticipation of developing Esaase and constructing the overland conveyor, which we plan to commence in 2019, we have signed an indicative term sheet and are finalizing definitive agreements with Red Kite to extend the first principal repayment, subject to certain fees, terms and conditions, by up to three years beyond July 1, 2019. We anticipate execution of these agreements in Q2 2018.”

This news release should be read in conjunction with Asanko’s Management Discussion and Analysis and the Consolidated Annual Financial Statements for the year ended December 31, 2017, which are available at www.asanko.com and filed on SEDAR.

Key Operating and Financial Highlights
Asanko Gold Mine

Q4 2017 Q3 2017 Q2 2017 Q1 2017
Waste Mined (‘000t) 10,692 7,339 6,457 5,620
Ore Mined (‘000t) 802 1,181 1,049 1,017
Strip Ratio (W:O) 13.3:1 6.2:1 6.2:1 5.5:1
Mining Cost ($/t mined) 2.82 3.35 3.22 3.89
Ore Treated (‘000t) 1,087 862 887 908
Gold Feed Grade (g/t) 1.5 1.9 1.7 2.1
Gold Recovery (%) 94 94 94 95
Processing Cost ($/t treated) 12.91 12.94 12.80 13.36
Gold Production (oz) 51,550 49,293 46,017 58,187

Gold Sales (oz) 49,561 50,241 48,461 57,812
Average Realised Gold Price ($/oz) 1,264 1,265 1,238 1,199
Operating Cash Costs2 ($/oz) 586 485 572 578
Total Cash Costs2 ($/oz) 649 549 634 638
All-in Sustaining Costs3 ($/oz) 1,171 975 930 956
All-in Sustaining Margin ($/oz) 1 93 290 308 243

Gross Gold Revenue ($m) 62.8 63.7 60.2 69.5
Production Costs, including Royalties ($m) 32.5 28.0 31.3 37.7
Income from Mine Operations ($m) 15.1 17.9 14.5 15.1
Net income (loss) attributable to common shareholders ($m) (7.1 ) 4.7 0.7 7.8
Net income (loss) per share attributable to common shareholders (0.03 ) $0.02 $0.00 $0.04

Cash provided by operating activities ($m) 34.4 40.7 33.7 14.4
Cash provided by operating activities before working capital ($m) 26.2 31.7 26.7 28.8
Cash provided by operating activities per common share1 $0.17 $0.21 $0.17 $0.07

Q4 2017 Operating Results

Industry-leading safety record maintained, with a rolling 12-month lost time injury frequency rate per million man hours worked of 0.17 and no lost time injuries reported during the quarter.
Gold production of 51,550 ounces, an increase of 5% over Q3 2017, as the Company focused on operational delivery and completed the volumetric upgrades to the process plant to 5Mtpa which contributed to higher process plant throughputs.
In Q4 2017 we implemented the optimized mine plan associated with P5M with the commencement of the larger Cut 2 pushback at Nkran. This program is progressing ahead of schedule with steady-state levels of ore yield from Nkran expected in Q2 2018.
Part of the optimized mine plan also includes geotechnical design changes in the oxide zones at Nkran to further flatten the slope angles from 34 degrees to 26 degrees. This design change requires an additional 4 million tonnes (“Mt”) of waste to be mined, of which 2Mt was mined in Q4 2017, with the balance being mined in 2018.
Ore mining rates averaged 267,333 tonnes per month (“tpm”) at an average mining grade of 1.5 g/t and a strip ratio of 13.3:1. Ore tonnes and average grade mined were lower compared to the previous quarter due to the larger Cut 2 pushback at Nkran which, combined with the establishment of the Dynamite Hill pit, resulted in the overall strip ratio increasing significantly for the quarter.
At Nkran, mining operations extracted ore from multiple zones of mineralization with an average mining grade of 1.7g/t during the quarter. The grade control versus resource model reconciliation continues with the positive trend and was within 2% for the second half of 2017, validating the Nkran Mineral Resource and Reserve Estimates.
At Akwasiso mining operations delivered approximately 42,300tpm of ore at a grade of 1.1g/t.
At Dynamite Hill, the second satellite pit to be brought into production, mining operations commenced during the quarter as planned. Ramp up to full mining rates of approximately 70,000tpm are expected in Q1 2018.
During the quarter, Nkran Extension, a third although very small satellite deposit, was brought into production to supplement oxide feed to the upgraded processing plant.
The Company completed the volumetric upgrades to the processing plant under budget and ahead of schedule, these upgrades achieved name plate capacity in December 2017 and the plant has been operating at or above an annualized rate of 5Mtpa since.
During the quarter, the plant processed a record 1.1Mt, in spite of a lower proportion of oxide tonnes being fed to the mill than designed, with a feed grade of 1.5 g/t.
Gold recovery continued to exceed design levels at 94%, despite the elevated mill throughput rates highlighting the capability of the recovery circuit to maintain efficiency at higher throughput levels.
Q4 2017 Financial Performance

Net loss attributable to common shareholders of $7.1 million compared to net income attributable to common shareholders of $4.7 million in Q3 2017. The net loss during Q4 2017 was primarily attributable to higher deferred income tax expense ($10.1 million increase) and higher cost of sales ($1.9 million increase) and exploration expenditures ($1.4 million increase) partially offset by an unrealized foreign exchange gain of $1.1 million. Net income before taxes for Q4 2017 was $7.1 million.
Mining and processing costs averaged $2.82 per tonne mined (Q3 2017 - $3.35/t) and $12.91 per tonne milled (Q3 2017 - $12.94/t), respectively, during Q4 2017. Mining costs per tonne were lower than Q3 2017 as a result of a higher oxide material mix as well as higher tonnes mined associated with the progression of Cut 2, which had the impact of decreasing fixed mining costs on a per unit basis.
The Company incurred operating cash costs per ounce2, total cash costs per ounce2 and AISC3 of $586, $649 and $1,171, respectively, in Q4 2017. AISC3 for the quarter was impacted by higher stripping costs associated with the development of Cut 2 at Nkran.
Gold sales of 49,561 ounces at an average realized gold price of $1,264 per ounce generating gold revenue of $62.8 million.
Total cost of sales (including depreciation and depletion) was $44.5 million.
Cash provided by operating activities was $34.4 million or $0.17 per share1. Cash provided by operating activities before changes in working capital was $26.2 million.
Q4 2017 Liquidity and Capital Resources

As at December 31, 2017, the Company had cash of $49.3 million on hand, along with unrefined gold dore at a cost of $4.1 million (and a market value of $5.7 million as at December 31, 2017) and $1.2 million in receivables from gold sales.
In February 2018, the Company agreed to a new term sheet with its long-term debt provider RK Mine Finance Trust I (“Red Kite”), whereby the Company would be able to defer the repayment of principal associated with the long-term debt by up to three years (repayment commencing on July 1, 2021) subject to certain fees, terms and conditions.
Management expects to complete the definitive documentation with Red Kite and announce the terms of the restructured debt facility in early Q2 2018.
2018 Guidance

In 2018, the AGM is targeting 200,000 – 220,000 ounces of gold at AISC3 of $1,050 – $1,150/oz. During the year, ore will be sourced from Nkran, Akwasiso, Dynamite Hill, Nkran Extension and surface stockpiles.

The implementation of the larger optimized Nkran Cut 2 pushback will continue throughout 2018. The design change to the Nkran pit, as part of the P5M optimization, delivers a significantly reduced strip ratio, increased ore yields and higher grades to the process facility over the period of capital spend on the construction of the overland conveyor and opening up Esaase as well as the subsequent debt principal repayment timeframe.

Production will be lower and AISC3 is expected to be higher in H1 2018 due to the larger volume of waste stripping at the Nkran Cut 2 pushback, consequently lower ore yields will result in lower blended ore grades being delivered to the process facility. Approximately $370/oz of AISC3 for H1 2018 will be stripping costs.

Steady state levels of higher grade ore production from Nkran will resume in H2 2018 and the waste stripping portion of the Cut 2 pushback will reduce, with stripping costs decreasing to approximately $280/oz of AISC3 for H2 2018. The overall feed grade improvement and increase in gold production will also contribute to a lowering of AISC3.

Growth capital for the year is expected to be approximately $8.5 million, $3.0 million for the recovery upgrades to the plant, which will be done in Q1 2018, $1.5 million for the upgraded mill motors, to be installed in Q2 2018, and $4.0 million for the secondary crusher, which is expected to be fully commissioned in Q3 2018. Sustaining capital expenditure for 2018 is expected to be approximately $4.0 million.


2018 Guidance H1 2018 H2 2018 FY 2018
Gold Production (oz) 90,000 – 100,000 110,000 – 120,000 200,000 – 220,000
AISC3 ($/oz) 1,200 – 1,300 950 – 1,050 1,050 – 1,150
Notes: Based on $1,250/oz gold price

5-Year Outlook (2019 – 2023)

The optimized mine planning exercise associated with P5M has successfully reduced the overall strip ratio and improved AISC3 over a 19-year life of mine. Over the next five years, during the period of high capital expenditure and debt repayment, average annual production is expected to be 253,000 ounces at AISC3 of $860/oz, an increase in gold production and an improvement in AISC3 of $147/oz versus the previous P5M forecast of 243,000 ounces at AISC3 of $1,007/oz.

This has been achieved using current mine operating data and optimizing the multi-pit schedule to generate the best cash generation profile to deliver a competitive AISC3 over the life of mine and specifically during the periods of capital spend on the overland conveyor, opening up the Esaase deposit and the debt principal repayment.


5-Year Outlook 2019 2020 2021 2022 2023
Gold Production (oz) 255,000 280,000 220,000 265,000 245,000
AISC3 ($/oz) 950 810 905 775 880
Notes: Based on US$1,250/oz gold and construction of the overland conveyor in 2019

Notes:
1 Non-GAAP Performance Measures

The Company has included certain non-GAAP performance measures in this press release, including working capital, operating cash costs, total cash costs, all-in sustaining costs per ounce of gold produced, all-in sustaining margin and operating cash flow per common share. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

2 Operating Cash Costs per ounce and Total Cash Costs per ounce

Operating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue for each ounce of gold sold. Total cash costs include production royalties of 5%.

3 All-in Sustaining Costs Per Gold Ounce
The Company has adopted the reporting of “all-in sustaining costs per gold ounce” (“AISC”) as per the World Gold Council’s guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion for each ounce of gold sold.


Q4 and FY 2017 Operating and Financial Results Conference Call & Webcast Details

Management will host a conference call and webcast at 9am ET on Thursday, March 15, 2018:

Conference Call:
US/Canada Toll Free: (800) 954 0621
UK Toll Free: 0800 496 1447
International: +1 (212) 231 2938

Webcast:
Please click on the link: https://cc.callinfo.com/r/1cb9r3i9b3y77&eom

Replay:
A recorded playback will be available approximately two hours after the call until April 15, 2018:
US/Canada Toll Free: 800 558 5253
International: +1 416 626 4100
Passcode: 21885541


Qualified Persons
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng.) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

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.

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 40-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).

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@asanko.com

Rob Slater – Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
Email: rob.slater@asanko.com

Source: Asanko Gold Inc
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ProfitScout ProfitScout 6 years ago
Asanko Gold Q4 & FY 2017 Results Conference Call Details

VANCOUVER, British Columbia, March 08, 2018 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX:AKG) (NYSE American:AKG) will be announcing its Q4 and Full Year 2017 operating and financial results on March 15, 2018 at 7am ET.

Management will host a conference call and webcast at 9am ET on Thursday, March 15, 2018.

Conference Call:
US/Canada Toll Free: (800) 954 0621
UK Toll Free: 0800 496 1447
International: +1 (212) 231 2938

Webcast:
Please click on the link: https://cc.callinfo.com/r/1cb9r3i9b3y77&eom

Replay:
A recorded playback will be available approximately two hours after the call until April 15, 2018:
US/Canada Toll Free: 800 558 5253
International: +1 416 626 4100
Passcode: 21885541

Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com or contact:

Alex Buck - Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
Email: alex.buck@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.

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.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Source: Asanko Gold Inc
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shanak10 shanak10 6 years ago
check out latest 13D/G filings
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ProfitScout ProfitScout 6 years ago
A Free-Falling Dollar Takes Gold To New Highs
Gary Wagner 
KITCO 
Wednesday January 24, 2018 18:27
Link:
http://www.kitco.com/commentaries/2018-01-24/A-Free-Falling-Dollar-Takes-Gold-To-New-Highs.html
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ProfitScout ProfitScout 6 years ago
Gold Prices Up as Dollar Slides

FinancialBuzz.com News Commentary
NEW YORK, January 23, 2018 /PRNewswire/ --

Gold price traded higher on Monday due to a weaker dollar. Gold Spot rose 0.19 percent to $1,336.43 per ounce during the Monday trading session. The U.S. Gold future for February delivery rose 0.29 percent to $1,335.8 per ounce, while the U.S. Dollar Currency Index still traded near its three year low of 90.113. Gold price is sensitive to the U.S. dollar as a weaker dollar makes other currencies holders cheaper to buy dollar-denominated commodities. Investors are also closely watching European Central Bank meeting and Bank of Japan policy announcement this week. The change in monetary policy may affect the price of gold. Golden Dawn Minerals Inc. (OTC: GDMRF), Asanko Gold Inc (NYSE: AKG), Golden Star Resources (NYSE: GSS), Eldorado Gold Corporation (NYSE: EGO), Gold Standard Ventures Corp. (NYSE: GSV)

According to a report by Reuters, "Spot gold has risen about $100 from nearly five-month lows hit in mid-December, mainly due to weakness in the U.S. dollar. Analysts have warned that the dollar weakness could have been overdone, which could lead to short-term correction in gold. A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies."

Golden Dawn Minerals Inc. (OTC: GDMRF) also listed on the TSX Venture Exchange under the ticker 'GOM'. Today the company announced breaking news that, "an updated Mineral Resource Estimate has been completed for the J&L Project, with 1.35 million gold equivalent ounces in the Measured and Indicated categories and 1.08 million gold equivalent ounces in the Inferred category (details in table below). J&L is therefore one of the largest undeveloped gold Mineral Resources in western Canada.

J&L is an advanced stage project located 35 km north of Revelstoke, BC. The project assets include a rail siding and load-out facility for the Canadian Pacific Railway in Revelstoke, and a fully functional 40-man camp as well as a large shop and office facility located at the property, with two mine portals that access 3.1 km of underground mine workings, and a fleet of formerly utilized underground mining equipment…

1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

3) The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.

4) The following parameters were used to derive the NSR block model cut-off values used to define the Mineral Resource:

- Dec 31, 2017 US$ two year trailing avg. metal prices: Pb $0.95/lb, Zn $1.13/lb, Au $1,253/oz, Ag $17.08/oz
- Exchange rate of US$0.76 = CDN $1.00
- Process recoveries of Pb 74%, Zn 75%, Au 91%, Ag 80%
- Smelter payables of Pb 95%, Zn 85%, Au 96%, Ag 91%
- Refining charges of Au US$10/oz, Ag US$0.50/oz
- Concentrate freight charges of C$65/t and Smelter treatment charge of US185/t
- Mass pull of 5% and 8% concentrate moisture content.

5) The NSR cut-off of CDN$110 per tonne was derived from $75/t mining, $25/t processing and $10/t G&A.

6) AuEq= Au g/t + (Ag g/t x 0.011) + (Pb % x 0.422) + (Zn % x 0.455)

The updated Mineral Resource Estimate includes the Main, Yellowjacket, Hanging Wall (HW) and Footwall (FW) Zones. The most significant are the Main, Footwall and Yellowjacket Zones. The Main Zone extends over 3 km on surface and has been drill-defined over 1.5 km along strike and 850 m down dip and remains open for expansion. In general, the zones consist of gold-silver-lead-zinc-bearing sulfides.

Golden Dawn will also proceed with a Preliminary Economic Assessment (PEA) to fulfil the first phase of the terms of its option agreement. It is expected that the PEA will incorporate results of advanced metallurgical studies and will investigate opportunities for pre-concentration and processing on and off-site. The PEA is expected to be completed within 5 to 8 months, with costs estimated at $250,000, including project expenditures. The Company has no further significant obligations under the terms of the option agreement until a decision is made to proceed with a Pre-Feasibility Study. Golden Dawn intends to manage the J&L Project on a stand-alone basis and finance it on the foundation of an economically robust Pre-Feasibility Study."

Asanko Gold Inc (NYSE: AKG) announced recently production results for the fourth quarter ("Q4") and full year ("FY") of 2017 from the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. The company reported US$62.6 million in gold revenue at an average realized price of US$1,264 per ounce for Q4. Commenting on the quarter Peter Breese, President and CEO, said "The Asanko Gold Mine delivered another solid quarterly performance, producing 51,550 ounces and achieving 2017 revised guidance with full year production of 205,047 ounces."

Golden Star Resources (NYSE: GSS) is a gold mining company that owns and operates the Wassa and Prestea mines in Ghana, West Africa. On January 11th, Golden Star announced its production results for the fourth quarter and full year of 2017 and its guidance for FY 2018. Golden Star produced 267,565 ounces of gold in FY 2017, achieving the middle of the FY 2017 consolidated production guidance range of 255,000-280,000 ounces. Consolidated gold production in the fourth quarter of 2017 increased 34% to 71,769 ounces, compared to the same period in 2016. Sam Coetzer, President and Chief Executive Officer of Golden Star, commented: "I'm particularly pleased to see the strong results from Wassa Underground in the fourth quarter of 2017, including a 55% increase in grade compared to the third quarter, and I look forward to stronger production in 2018 as we increase the mining rate further."

Eldorado Gold Corporation (NYSE: EGO) is a gold producer with mining, development and exploration operations in Turkey, Greece, Romania, Serbia, Canada and Brazil. On January 16th, the company announced 2017 operating results and preliminary cash costs, and provides partial production and cash cost guidance for 2018. George Burns, President and Chief Executive Officer said, "I am very proud of how our team handled the opportunities and challenges of 2017. We completed the Integra acquisition, succeeded in declaring commercial production at Olympias Phase II at year-end and commenced the immense amount of technical work at our key Kisladag, Skouries and Lamaque assets." "Our overarching goal for 2018 and beyond is to move Eldorado back into a growth phase and create value for all our stakeholders."

Gold Standard Ventures Corp. (NYSE: GSV) is a gold exploration company focused on district scale discoveries on its Railroad-Pinion Gold Project, located within the prolific Carlin Trend. Earlier in October 2017, the company announced highly encouraging metallurgical results from continuing work designed to determine the processing characteristics of the Dark Star oxide gold deposit, on its 100%-owned/controlled Railroad Project in Nevada's Carlin Trend. Column recoveries from -12.5 mm size material averaged 86.5% for Dark Star oxide and 70.0% for partially oxidized transitional material. These results confirm that Dark Star material is likely to support heap leach processing. Jonathan Awde, CEO and Director of Gold Standard commented: "Step by step we are increasing the value of our Railroad Project by reducing risks and establishing the viability of its gold deposits. We now know how the gold can be recovered at Dark Star and that crushing requirements and reagent consumption are favorable. The next step is to complete a PEA defining economic parameters."

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ProfitScout ProfitScout 6 years ago
Gold Prices React to Global Inflation

FinancialBuzz.com News Commentary
NEW YORK, January 22, 2018 /PRNewswire/ --

Gold price rose higher on Friday as U.S. dollar continued to weaken. Gold Spot was traded 0.5 percent higher at $1,333.63 per ounce during the Friday trading session. While U.S. Gold future for February delivery rose 0.50 percent to $1,333.8 per ounce. The U.S. dollar was near a three-year low due to concerns over a U.S. government shutdown. In addition, expectations of higher global inflation also drive the gold price higher. According to Bloomberg, global holdings in gold exchange-traded funds surged to the highest level since 2013. Gold has gained 2.48 percent this year. Genesis Metals Corp (OTC: GGISF), Golden Star Resources Ltd. (NYSE: GSS), Vista Gold Corp. (NYSE: VGZ), Asanko Gold Inc (NYSE: AKG), Solitario Zinc Corp (NYSE: XPL)

According to Kitco News, MKS PAMP said in its annual outlook that gold price has the potential to hit $1,440 an ounce in 2018. Frederic Panizzutti, MKS PAMP's managing director of the Dubai office, said: "As the demand is set to improve, the supply side will remain under pressure. This combined with ongoing geopolitical tensions and the official sector expected to be a net buyer prompts us to set the yearly average at 1365.00 USD/oz,"

Genesis Metals Corp (OTCQB: GGISF) is also listed on the TSX Venture Exchange under the ticker symbol 'GIS'. Earlier today the company announced breaking news that, "drilling returns 8.73 g/t gold over 21.35 m from Chevrier Main Zone. The results from the second phase of drilling completed at the Chevrier gold project (the "Project") near Chibougamau, Quebec. Highlights from Main Zone:

- 8.73 g/t Au over 21.35 m including 37.97 g/t Au over 3.00 m in hole GM-17-42

- 3.59 g/t Au over 22.60 m in a separate zone in hole GM-17-42

- 4.26 g/t Au over 19.40 m including 8.99 g/t Au over 7.80 m in hole GM-17-48

- 4.47 g/t Au over 12.45 m within an interval of 1.08 g/t Au over 84.85 m in hole GM-17-46

- 5.06 g/t Au over 8.45 m and 1.23 g/t Au over 43.00 m in two intervals in hole GM-17-41

- 4.53 g/t Au over 13.80 m in hole GM-17-44

- 1.04 g/t Au over 50.05 m including 1.94 g/t Au over 17.10 m in hole GM-17-44

Brian Groves, CEO of Genesis commented "We are very pleased with these new results as they now appear to define a near surface zone of higher grade with the potential for expansion at depth. We will now focus on refining our geological model for the Main Zone as we work towards an updated global resource for Chevrier in 2018."

Discussion of Results: Holes GM-17-45 and GM-17-46 were drilled to test for extensions to Hole GM-17-09 (2.94 g/t Au over 37.40m - previously reported in Company news release dated October 3, 2017). This drilling has identified a new north-east trending shallow extension of mineralization encountered in Hole GM-17-09. Similarly, the results from Holes GM-17-41 and GM-17-44 define a new deeper south west extension of the mineralization encountered in GM-17-09. This large and well mineralized zone now appears to be defined over a distance of more than 300m. This zone is a priority for geological modeling.

- The results from the highlighted holes above would suggest an area of shallow higher grade mineralization has been defined and still remains open at depth in the southern part of the Main Zone.

- The majority of mineralized intercepts reported herein are less than 150 m depth

- All 18 holes drilled into the Main Zone intersected mineralization with only one hole returning gold grades of less than 1 g/t.

Future Plans - The Company has identified key controls to gold mineralization within the Main Zone. Gold essentially correlates with higher percentages of veins which are themselves hosted in a larger sheared zone characterized by mylonitic texture and strong ankerite-fuchsite-tourmaline-silica alteration…"

Golden Star Resources Ltd. (NYSE: GSS) announced recently its production results for the fourth quarter and full year ("FY") of 2017 and its guidance for FY 2018. Gold production from the Wassa complex increased by 31% in FY 2017 to 137,234 ounces, compared to FY 2016. In the fourth quarter of 2017, gold production was 42,001 ounces, an increase of 43% compared to the fourth quarter of 2016. "Achieving our 2017 production guidance while simultaneously operating two underground mines in the early stages of production is a great achievement and I would like to thank our teams at both operations for their hard work and commitment. I'm particularly pleased to see the strong results from Wassa Underground in the fourth quarter of 2017, including a 55% increase in grade compared to the third quarter, and I look forward to stronger production in 2018 as we increase the mining rate further. In 2018 our primary focus will be high grade, high margin underground ounces.

Vista Gold Corp. (NYSE: VGZ) earlier in November issued the results of its previously announced metallurgical testing program for the Mt Todd gold project located in the Northern Territory, Australia. The test work confirms that the inclusion of automated sorting and a re-designed, 2-stage grinding circuit will enable the project to achieve a finer grind size, higher gold recoveries/higher gold production, and lower processing costs with no material increase in project capital. Vista's President & CEO, Frederick H. Earnest, commented, "Mt Todd is one of the largest, advanced-stage gold development projects in Australia. Last year we initiated a comprehensive program to optimize the Mt Todd project and demonstrate its viability at a US$1,250 per ounce gold price."

Asanko Gold Inc (NYSE: AKG) announced last week production results for the fourth quarter ("Q4") and full year ("FY") of 2017. FY 2017 gold production of 205,047 ounces and Q4 production of 51,550 ounces, in line with 2017 revised production guidance of 205 - 225,000 ounces. US$62.6 million in gold revenue at an average realized price of US$1,264 per ounce for Q4. Gold production for the quarter was 51,550 ounces with gold sales of 49,561 ounces at an average realized price of US$1,264 per ounce, generating gold sales revenue of US$62.6 million. At December 31, 2017 the Company's balance sheet had approximately US$49.3 million in unaudited cash, US$2.1 million in gold receivables and US$4.1 million in dore (with a market value of US$5.9 million).

Solitario Zinc Corp (NYSE: XPL) announced last year that is has initiated metallurgical testing to determine the potential to recover silver at its recently acquired Lik zinc project in Alaska. The Lik resource, besides being a high-grade zinc deposit, contains a significant silver inventory that averages about 50 grams per tonne silver. Metallurgical testing to date has focused on the recovery of zinc and lead with virtually no work conducted on silver recovery.

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ProfitScout ProfitScout 6 years ago
Asanko Gold records $62.6 million revenue in Ghana
- BizNis AfricaBizNis Africa
JANUARY 19TH, 2018
News Link:
http://www.biznisafrica.com/asanko-gold-records-62-6-million-revenue-ghan
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umsllc umsllc 6 years ago
When this breaks a buck and holds there....watch how quick this will move.....
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ProfitScout ProfitScout 6 years ago
Asanko Gold Announces Q4 and Full Year 2017 Production Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/18/18 --

Q4 and FY 2017 Highlights:

FY 2017 gold production of 205,047 ounces and Q4 production of 51,550 ounces, in line with 2017 revised production guidance of 205 - 225,000 ounces
US$62.6 million in gold revenue at an average realized price of US$1,264 per ounce for Q4
Record quarterly milling performance by the processing facility, with annualized rate of 5Mtpa achieved for the month of December
Industry-leading safety record continued to be maintained with a rolling 12 month LTIFR of 0.17
Stable balance sheet with unaudited cash and immediately convertible working capital balances of approximately US$55.5 million (December 31, 2017)
Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE American:AKG)(NYSE MKT:AKG) announces production results for the fourth quarter ("Q4") and full year ("FY") of 2017 from the Asanko Gold Mine ("AGM"), located in Ghana, West Africa.

Commenting on the quarter Peter Breese, President and CEO, said "The Asanko Gold Mine delivered another solid quarterly performance, producing 51,550 ounces and achieving 2017 revised guidance with full year production of 205,047 ounces.

Highlights for the quarter include the opening up and commencement of ore mining operations at our second satellite deposit, Dynamite Hill, record milling rates by the processing plant, which achieved the design throughput rate of 5Mtpa on an annualized basis for December inspite of lower oxide tonnes being fed to the mill than designed for, and high metallurgical recovery, which continues to be above design at 94% at these elevated mill throughput rates.

Discussions with Red Kite are progressing on the refinancing of our existing debt facility and we expect to update the market during Q1 2018 on the outcomes of these discussions, along with the publication of the Project 5 Million Optimized Plan."

Health and Safety

There were no lost time injuries ("LTI") reported during the quarter and the 12-month rolling lost time injury frequency rate ("LTIFR") per million man hours worked is 0.17.

Production

During the quarter, the AGM sourced ore from multiple pits, Nkran, Akwasiso, Dynamite Hill and Nkran Extension as well as on surface stockpiles. Due to the ongoing Cut 2 push back at Nkran, focusing on waste removal in line with the life of mine plan, and the establishment of the Dynamite Hill pit, the strip ratio increased significantly, whilst ore tonnes and the average grade mined were lower compared to the previous quarter. At Dynamite Hill, the second satellite deposit to be bought into production, ore mining operations commenced in Q4 2017 as per the plan, with the ramp up to full mining rates of approximately 70,000 tonnes per month expected in Q1 2018.

The processing plant achieved record milling rates of 1,087 million tonnes for the quarter including an annualized milling rate of 5 million tonnes per annum ("Mtpa") for the month of December. Although milling rates were elevated, metallurgical recovery continued to exceed design levels at 94%, with higher than design gravity recovery performance. This exceptional processing plant performance highlights the capability of the circuit to run at higher throughput levels despite lower than planned softer oxide ores being available to mill.

AGM Key Production Statistics Units Q1 2017 Q2 2017 Q3 2017 Q4 2017 FY 2017
Total Tonnes Mined 000 t 6,637 7,506 8,519 11,494 34,156
Waste Tonnes Mined 000 t 5,620 6,458 7,339 10,692 30,108
Ore Tonnes Mined 000 t 1,017 1,048 1,180 802 4,048
Strip Ratio W:O 5.5:1 6.2:1 6.2:1 13.3:1 7.4:1
Average Gold Grade Mined g/t 1.8 1.5 1.8 1.5 1.7
Ore Treated 000 t 908 887 862 1,087 3,744
Gold Feed Grade g/t 2.0 1.7 1.9 1.5 1.8
Gold Recovery % 95 94 94 94 94
Gold Produced oz 58,187 46,017 49,293 51,550 205,047
Sales and Liquidity

Gold production for the quarter was 51,550 ounces with gold sales of 49,561 ounces at an average realized price of US$1,264 per ounce, generating gold sales revenue of US$62.6 million. At December 31, 2017 the Company's balance sheet had approximately US$49.3 million in unaudited cash, US$2.1 million in gold receivables and US$4.1 million in dore (with a market value of US$5.9 million).

Qualified Person Statement

Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.

Enquiries:

For further information please visit: www.asanko.com, email: info@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. 
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 40-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).

Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
+44-7932-740-452
alex.buck@asanko.com
Asanko Gold Inc.
Rob Slater
Executive, Corporate Development and Strategy
+27-11-467-2758
rob.slater@asanko.com
http://www.asanko.com

Source: Asanko Gold Inc

News Link:
http://www.marketwired.com/press-release/asanko-gold-announces-q4-and-full-year-2017-production-results-tsx-akg-2244723.htm
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ProfitScout ProfitScout 6 years ago
Asanko Gold (AKG) Upgraded by Zacks Investment Research to Hold
Posted by Rob Logan on Jan 16th, 2018

Asanko Gold (NYSE AMERICAN:AKG) (TSE:AKG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
Link:
https://ledgergazette.com/2018/01/16/asanko-gold-akg-upgraded-by-zacks-investment-research-to-hold.html
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umsllc umsllc 6 years ago
I agree this is a good play. Can't beat the % held by the institutions.....

Good Luck and be well!
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Syzygenic Syzygenic 6 years ago
I bought the dip beyond my first buy and I have to say I'm sitting pretty right now. This is a good one.
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umsllc umsllc 6 years ago
I ended up getting back in at an avg of .5225. I've made back my loss at selling in the 70's a few weeks back. Looks real strong..should see a buck in a couple weeks....
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