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Asanko Gold Inc.
Summary
| Project: | Asanko Gold Mine | |
|---|---|---|
| Deposit: | Asnako Gold Mine | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 6/5/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Active Mining & Production | |
| Report details: | 5-6-2017: Asanko Gold Inc. announces a Feasibility Study report for its Asnako Gold Mine deposit at the Asanko Gold Mine project. Results of Expansion Definite Feasibility Study comprising two growth projects. Vancouver, British Columbia, June 5, 2017 – A | |
| Resources: | (Reserves, P+P): 100.81Mt @ 1.58g/t Au for 5.11Moz Au at Asanko Gold Mine | |
| CP/QP: | [Resources]: M. Titley, C. Muller (CSA Global Pty Ltd.;CJM Consulting Pty Ltd.) | |
| ABSTRACT: | Vancouver, British Columbia, June 5, 2017 – Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE MKT: AKG) is pleased to announce the Definitive Feasibility Study (“DFS”) results of a staged expansion at the Asanko Gold Mine (the “AGM”), located in Ghana, West Africa, which confirms the AGM is a large scale, long life quality asset with a viable and robust two stage organic growth plan and strong cash generation capability. The Expansion DFS is comprised of two growth projects, Project 5 Million and Project 10 Million. Commenting on the announcement, Peter Breese, President and CEO, said “Our growth plan has been designed to be fully flexible so that it can be advanced in modular components, according to cash flow generation, balance sheet strength, financing opportunities and market conditions. Our first expansion module, the plant upgrade to 5Mtpa, is a great low cost capital efficient project which is fully funded, delivering a 40% increase in throughput. We expect to see some volumetric increases in Q3 2017, ahead of full commissioning in Q4 2017. The Board is reviewing the optimal timing for the development of Esaase and the conveyor, as well as Project 10 Million, and the respective investment decisions will be dependent on the Company’s cash position and financing opportunities. This review will enable us to prudently bolster our liquidity position to over US$100 million by Q2 2018 without overextending the balance sheet or diluting shareholders, thereby securing our growth pipeline to ultimately deliver a production profile of over 450,000oz a year, making the Asanko Gold Mine one of the largest mines in Africa.” | |
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