Asanko Gold Is An Undervalued Long-Term Gold Play; 137% Upside Potential
Christopher De Sousa
Christopher De Sousa
Asanko Gold's Risk/Reward Is Far Less Favorable Than It Was
Wed, Jul. 20, 2:00 PM
Wed, Jul. 20, 12:53 PM
Tue, Jul. 5, 2:00 PM
Tue, Jul. 5, 12:50 PM
Thu, Jun. 30, 11:27 AM
- Asanko Gold (AKG -4.5%) is lower for a second straight day after coming under attack from the K2 hedge fund, which claims the company's stock price could plunge by 90%.
- K2, which has a short position in AKG, says the miner’s gold resources “don’t add up” and appear to be over-inflated by a factor of two.
- K2 says its primary concern is AKG’s Nkran deposit, which the company acquired in 2014, noting that the deposit’s previous owner said the ore zones become “thinner and more discontinuous” deeper underground, whereas AKG’s reserve estimate implies that they “expand dramatically.”
- AKG says it stands by its production guidance, resource estimate and life of mine plan.
Thu, Jun. 30, 9:16 AM
Wed, Jun. 29, 2:03 PM
Fri, Jun. 24, 9:11 AM
- Gainers: AAU +20%. VGZ +18%. MUX +13%. AKG +12%. GPL +13%. GORO +12%. GFI +12%. EMES +12%. GOLD +12%. AU +12%. SBGL +11%. EXK +11%. KGC +10%. HMY +11%. SAND +10%. ABX +10%. EGO +9%. SA +7%. IAG +9%. AUY +9%. CDE 9%. NGD 9%. AEM 8%. NEM 8%. GG 8%. NG 8%. FSM 7%.
- Losers: LYG -27%. BCS -26%. SAN -24%. RBS -23%. AV -23%. BBVA -22%. DB -18%. ING -18%. BT -18%. VNR -11%. TEF -17%. CS -16%. PUK -15%. MT -15%. AEG -14%. RYAAY -13%. UBS -12%. FCAU -12%. GNCA -12%. NOK -12%. BBL -11%. IPI -11%. TOT -11%. ANFI -11%. MNKD -10%. BCEI -8%. VMEM -10%.
Fri, Jun. 3, 2:22 PM
Wed, Mar. 30, 6:18 AM
Jun. 8, 2015, 12:19 PM
- AngloGold Ashanti (AU -1%) and Acacia Mining (OTC:ABGLF) are the miners in Africa that should be best positioned for increased production growth, RBC says, adding that it also likes Asanko Gold (AKG +1.2%) and Aureus Mining (OTC:ARSMF).
- RBC says Acacia (formerly African Barrick Gold) has made significant progress, driving down all-in sustaining costs to below $1,100/oz. and increasing production guidance; for AU, the firm expects the combination of improved operating performance following the placing of the Obuasi mine on care and maintenance, and the likelihood of asset disposals to support a re-rating of the stock.
Jan. 21, 2015, 9:58 AM
- Richmont Mines (RIC -3.5%) and Asanko Gold (AKG -9.9%) are lower after each announced multi-million dollar bought-deal financing agreements, the start of what could be a better financing environment after a difficult 2014.
- RIC plans to use proceeds from its financing for an accelerated development plan for the high-grade Deep C zone at its Island gold mine in Ontario; RIC is planning for $56.3M in capex for 2015, with 85% focused on the Island mine.
- AKG says it will use its funds for working capital and corporate purposes to further enhance its balance sheet.
Aug. 20, 2014, 9:14 AM
- Asanko Gold (NYSEMKT:AKG) says it has begun main construction work on the initial phase of the Asanko Gold Mine in Ghana.
- Phase 1 is expected to produce 200K oz./year of gold at steady state starting in Q2 2016 for a total of 2.25M oz. over an 11.5-year life of mine.
- The capital cost of the project is expected to be in-line with earlier estimates of $295M.
Jun. 20, 2014, 5:36 PM
Mar. 20, 2014, 1:26 PM
- The rally in large gold miner names (GDX +0.8%) may have gotten ahead of itself as the companies still have plenty of work ahead of them as they move to repair balance sheets and focus on cash flow over growth, writes Liam Denning. The smaller miners (GDXJ +2.7%) have rallied faster this year, but they fell further last year, and their attraction now would be the potential for deals - the larger players are pushing off projects, and thus need another way to replenish resources.
- Not all are good targets, but those with projects closer to completion and for higher grade ores are most attractive, says CIBC's Jeff Kileen, highlighting Continental Gold (CGOOF +0.5%), Premier Gold Mines (PIRGF +1.1%), and Pretium Resources (PVG -0.8%).
- Other smaller players with attractive projects starting up this decade include Asanko Gold (AKG), Golden Queen Mining (GQMNF +0.6%), and Orezone Gold (ORZCF -0.2%).
- ETFs: GDX, GDXJ, NUGT, DUST, GLDX, JNUG, RING, GGGG, JDST, PSAU
Dec. 23, 2013, 12:46 PM
Asanko Gold, Inc. is a natural resource company, which engages in the acquisition and exploration of mineral resources in West Ghana. Its projects include Esaase Gold and Asumura Gold. The company was founded by Ivan James Bebek and Shawn Kristen Wallace on September 23, 1999 and is... More
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