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Stock Market & Financial Investment News

News Breaks
July 17, 2014
07:13 EDTAKGAsanko Gold mine approved for construction
Asanko Gold announced that the board has made a positive financial investment decision to proceed with the construction of Phase 1 of the Asanko Gold Mine in Ghana. Phase 1 is based on the construction of the Obotan Gold Project which was acquired during the takeover of PMI Gold Corporation in February. Phase 2 anticipates the inclusion of the adjacent Esaase deposit. Early works at the project site has been underway since April in preparation for a positive investment decision with progress on schedule. Project construction will commence shortly, with ground breaking expected within the next month. First gold is targeted in 1Q16, with steady stage production anticipated in 2Q16.
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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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