Ben Kramer-Miller
Gold & precious metals, macro, research analyst, deep value

Asanko Gold: Highly Undervalued With Limited Downside

In this article I analyze Asanko Gold (NYSEMKT:AKG), a small gold mining company with a uniquely favorable risk/reward distribution.

1: About Asanko Gold

Asanko Gold is a development stage gold mining company with two large properties in Ghana: Esaase and Asumura. Esaase will likely be a producing mine by late 2015 or 2016 at roughly 200,000 ounces per year. Asumura is a large early exploration property that has yielded some positive results that suggest that it may contain a producing mine.

Currently the company has a market capitalization of $188 million, or $228 million diluted. This is incredibly inexpensive considering the company's cash position of $196 million at the end of March.

While the company will need nearly...

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