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Stock Market & Financial Investment News

News Breaks
April 1, 2014
07:08 EDTAKGAsanko Gold receives environmental, water approvals for Esaase site
Asanko Gold announced it has received the Environmental Invoice and Water Use Permits for the Esaase deposit, part of the Asanko Gold Mine, or AGM, Project, from the relevant Ghanaian Regulatory Authorities. The Invoice, issued by the EPA, through its Technical Review Committee, is a precursor to receiving the final Environmental Permit. Asanko will now finalize its EIS to incorporate the comments of the Invoice, which are not onerous, and submit it to the EPA for final permitting, which will occur in due course. The receipt of the Invoice from the EPA means that Asanko will be able to apply for a temporary mining permit and commence early works at the Esaase site, should Asanko decide to progress with the Esaase deposit as part of Phase 1. In addition, the Company has also received three key Water Use Permits required for the Esaase site from the Ghanaian Water Resources Commission. The permits will allow the Company to abstract boreholes for domestic, construction and operations purposes at the Esaase site and are valid for an initial period of three years and renewable thereafter.
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August 26, 2014
07:02 EDTAKGAsanko Gold enters into settlement agreement with Goknet Mining
Asanko Gold announces that it has entered into a settlement agreement with a private Ghanaian company, Goknet Mining Company, to eliminate Goknet's claim for a 2% net smelter return royalty on Phase 1 of the Company's flagship Asanko Gold Mine Project. The only material royalty now applicable to Phase 1 of the Project is the Government of Ghana's 5% NSR royalty. The financial terms of the Agreement are confidential, however they are not considered material to Asanko. The settlement involves cash, one million Asanko shares and the transfer to Goknet of two non-material exploration projects, Kubi and Diaso. Included in the agreement the Company will retain a right to match any future offer made to Goknet with respect to a disposal of the Diaso Project concessions.
August 20, 2014
07:07 EDTAKGAsanko Gold commences construction of Phase 1
Asanko Gold announced that the main construction work has commenced on Phase 1 of the Asanko Gold Mine in Ghana. Phase 1 is expected to produce 200,000 ounces of gold per annum at steady state starting in 2Q16. Earlier this year, the company undertook preparatory early works at the Project site, including upgrading the access road, refurbishing the 225 person operations camp which already existed at site, installing temporary construction camp accommodation and upgrading the site utilities to support the additional construction population. Following Board approval of the Project last month, main construction activities on site have now commenced. The bulk earthworks contract has been awarded and the contractor has mobilised to site. Initial work has begun on clearing ground for the 3 million tonne per annum gravity/carbon-in-leach processing plant, which is located near the main Nkran pit. Civil works and concrete pouring is expected to begin in the coming months to take advantage of the dry season in Ghana. The tender process for the mining contractor is underway and the pre-stripping contractor for the Nkran pit will mobilise to site during Q4.

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