Monday, December 4, 2017

Asanko Gold Inc. - AKG.t

Asanko Gold Inc. - AKG.t flagship project is the Esaase Gold Project located in Ghana, West Africa.

The Asanko Gold Mine is located on the Asankragua Gold Belt in Ghana. It has 7.5 million ounces of Measured and Indicated Resources, including 4.8 million ounces of Proven and Probable Reserves.

On November 21, 2017 the media released News

The Globe and Mail reports in its Tuesday, Nov. 21, edition that Canaccord Genuity analyst Rahul Paul says Asanko Gold's (98 cents) investment appeal has diminished and risks have "significantly" increased. The Globe's David Leeder writes in the Eye On Equities column that though Mr. Paul believes further fundamental downside may be limited, he cut his rating to "hold" from "buy." Though Asanko shares are down about 75 per cent year-to-date and have underperformed in comparison with the S&P/TSX Gold Index, Mr. Paul shaved his share target even further to $1 from $2.50. Analysts on average target the shares at $2.54. Mr. Paul says in a note: "Based on our revised forward-curve based forecasts, we believe that the current share price could be supported by remaining reserves at Nkran alone (we now assume no further upside beyond Nkran reserves and estimated plant throughput of 4.5 million tons per annum). In addition, our revised forecasts suggest that the company should be able to repay the Red Kite Debt Facility through internal cash flows while maintaining a cash balance over $50-million. ... We believe a more cautious approach is prudent at this stage."