Asanko Gold Inc (AKG.A) Key Developments |
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Asanko Gold Inc (AKG.A)

AKG.A on American Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Asanko Gold amends debt repayment schedule in preparation for Phase 2A investment decision
Thursday, 19 May 2016 07:00am EDT 

Asanko Gold Inc : Asanko gold amends debt repayment schedule in preparation for phase 2A investment decision . Terms agreed to amend repayment schedule on existing US$150 million debt facility . Principal repayments deferred by two years to july 1, 2018 . No other changes to existing debt facility terms or offtake agreement . Revised repayment profile frees up an additional US$70 million in cash flow over two years for planned growth projects . Phase 1 of Asanko gold mine is in production, expected to produce annual average of 190,000 ounces of gold/year over 12.5 year life-of-mine .First stage, phase 2A, of Asanko mine expansion sees capex of $100-$125 million to expand production to about 280,000 ounces of gold/year by Q4 2018.  Full Article

Asanko Gold enters into power purchase agreement for phase 1
Wednesday, 3 Jun 2015 07:00am EDT 

Asanko Gold Inc:Enters into life-of-mine power purchase agreement for phase 1.Signing of binding power purchase agreement with genser energy Ghana for supply of all power required for phase 1 of Asanko Gold mine.Under agreement genser will build and operate 19.2 megawatts liquid fuel power plant adjacent to agm site, supply 17mw of nominal power.Says permitting and construction of the 19.2mw plant will begin immediately, with power expected to be available in Q4 2015.  Full Article

Midlands Minerals Corp sells Kaniago Gold Project to Asanko Gold Inc's subsidiary
Wednesday, 11 Feb 2015 10:33am EST 

Midlands Minerals Corp:Has sold its Kaniago gold project in Ghana to a subsidiary of Asanko Gold Inc, Keegan Resources (Ghana) Ltd (KRGL).Kaniago project sold to Asanko for $312,888.  Full Article

Asanko Gold announces closing of C$46 million bought deal financing
Wednesday, 11 Feb 2015 08:42am EST 

Asanko Gold Inc:Closed its previously announced bought deal financing of 22,770,000 common shares, which includes shares issued upon full exercise of the over-allotment option, at a price of C$2.02 per share, for gross proceeds to the Company of about C$46 million.The Offering was co-led by Cormark Securities Inc. and BMO Capital Markets and involved a syndicate which included Clarus Securities Inc., Haywood Securities Inc., Raymond James Ltd. and RBC Capital Markets.Net proceeds of the Offering along with the Company's currently available funds are expected to be used by the Company to complete Phase 1 of the Asanko Gold Mine and for working capital and general corporate purposes, including the completion of a Phase 2 feasibility study.  Full Article

Asanko Gold Inc announces C$40 mln bought deal financing
Tuesday, 20 Jan 2015 04:15pm EST 

Asanko Gold Inc:Entered into an agreement with a syndicate of underwriters pursuant to which they agreed to purchase, on a bought deal basis, 19,800,000 common shares at a price of C$2.02 per share for gross proceeds to the company of about C$40 million.Offering will be conducted through a syndicate of underwriters led by Cormark Securities Inc. and BMO Capital Markets.Says the Company will grant the underwriters an over-allotment option to purchase up to an additional 15 pct of the number of Shares sold under the Offering at a price of C$2.02 per Share.Aggregate gross proceeds of the Offering to Asanko will be approximately C$46 million.  Full Article

Asanko Gold awards key mining contract
Wednesday, 12 Nov 2014 07:00am EST 

Asanko Gold Inc:Has awarded the mining contract for the fully funded and permitted Phase 1 of the Asanko Gold Mine in Ghana.Project construction commenced in Aug and has been advancing rapidly with the project on schedule and budget.Says phase 1 is expected to produce 200,000 ounces of gold per annum at steady state commencing in Q2 2016, with the first gold pour planned during Q1 2016.The main mineral resource for Phase 1 is the Nkran pit, located immediately adjacent to the new plant site currently under construction.The pit was previously mined to a depth of about 120 meters and requires 21.7 mln tonnes of waste to be pre-stripped prior to commencing ore mining operations in Q4 2015.Company completes rigorous tendering process to select mining contractor and has awarded contract for the Nkran pre-strip plus the first year of mining operations to PW Ghana Ltd (PW), subsidiary of PW Mining International Ltd of Accra, Ghana.PW has extensive experience in West Africa and full fleet of equipment in excellent condition that can be immediately deployed to the Project site.Pre-stripping is expected to commence in Jan. 2015.Mobilization, clearing and grubbing will take place in Nov and Dec.  Full Article

BRIEF-Asanko Gold amends debt repayment schedule in preparation for Phase 2A investment decision

* Asanko gold amends debt repayment schedule in preparation for phase 2A investment decision