Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Gold set for 5th week of gains, buoyed by slump in dollar
Reuters|Updated: Jan 12, 2018, 03.38 PM IST
News Link:
https://economictimes.indiatimes.com/markets/commodities/news/gold-up-on-weaker-dollar-heads-for-5th-gain-on-week/articleshow/62468429.cms
Gold Prices Jump To Near Four-Month High As Dollar Falls Sharply
Spot gold was up 0.9 percent at $1,324.40 an ounce at 4.37 pm, having earlier touched its highest since September 15 at $1,326.56
Business | Thomson Reuters | Updated: January 10, 2018 17:03 IST
Link:
https://www.ndtv.com/business/gold-prices-jump-to-near-four-month-high-as-dollar-falls-sharply-1798349
Morning Technical Insight on These Gold Stocks -- Comstock Mining, Asanko Gold, Randgold Resources, and Agnico Eagle Mines
NEW YORK, Dec. 29, 2017 /PRNewswire/ -- WallStEquities.com strives to bring the best free research to the investment community. Today we are offering reports on LODE, AKG, GOLD, and AEM which can be accessed for free by signing up to www.wallstequities.com/registration. Kitco News revealed the results of its latest survey: Which metal will outperform in the new year. According to the news site, Kitco readers were clear in their choice, with more than one-third preferring silver in 2018. Gold was a close second pick, with 27% of the survey participants identifying the metal as their favorite in 2018. Pre-market today, WallStEquities.com scans four Gold stocks to see how they have fared over the past trading sessions: Comstock Mining Inc. (NYSE AMER: LODE), Asanko Gold Inc. (NYSE AMER: AKG), Randgold Resources Ltd (NASDAQ: GOLD), and Agnico Eagle Mines Ltd (NYSE: AEM). All you have to do is sign up today for this free limited time offer, click the link below.
www.wallstequities.com/registration
Comstock Mining
Virginia City, Nevada headquartered Comstock Mining Inc.'s shares jumped 11.43%, finishing Thursday's trading session at $0.39. A total volume of 777,308 shares was traded. In the last month, the stock has advanced 2.63%. The Company's shares are trading below their 50-day moving average by 15.18%. Moreover, shares of Comstock Mining, which operates as a gold and silver mining company in Nevada, have a Relative Strength Index (RSI) of 51.47.
On December 26th, 2017, Comstock Mining announced that Corrado De Gasperis, Executive Chairman and CEO, will present at the 2018 Global Chinese Financial Forum, Vancouver Conference on January 20th, 2018, in British Columbia, Canada. Gasperis will also present at the 2018 Vancouver Resource Investment Conference on January 21st, 2018' and January 22nd, 2018 at the Vancouver Convention Centre West. Get the full research report on LODE for free by clicking below at:
www.wallstequities.com/registration/?symbol=LODE
Asanko Gold
On Thursday, shares in Vancouver, Canada headquartered Asanko Gold Inc. recorded a trading volume of 1.01 million shares, and ended the session 3.35% higher at $0.67. The stock has gained 1.75% in the last one month. The Company's shares are trading 13.97% below their 50-day moving average. Furthermore, shares of Asanko Gold, which engages in the exploration, development, and production of gold properties, have an RSI of 52.62.
On December 11th, 2017, Asanko Gold announced that a putative class action securities lawsuit filed in the US District Court for the Eastern District of New York against the Company and several executives has been dismissed. The lawsuit, claiming that the Company made alleged misstatements or omissions in a technical report and a press release relating to its mineral resources estimates, was voluntarily dismissed without prejudice by lead plaintiff on November 21st, 2017. To experience our free membership services anytime/ anywhere and access the free report on AKG, click to register at:
www.wallstequities.com/registration/?symbol=AKG
Randgold Resources
Shares in St. Helier, Channel Islands-based Randgold Resources Ltd closed at $97.54, climbing 0.04% from the last trading session. The stock recorded a trading volume of 203,167 shares. The Company's shares have gained 0.49% in the last one month and 27.77% since the start of this year. The stock is trading 3.59% and 4.01% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Randgold Resources have an RSI of 61.92.
On December 05th, 2017, research firm Citigroup upgraded the Company's stock rating from 'Neutral' to 'Buy'. Join our big investor community at Wall St. Equities today and start so with your free report on GOLD at:
www.wallstequities.com/registration/?symbol=GOLD
Agnico Eagle Mines
Toronto, Canada headquartered Agnico Eagle Mines Ltd's stock ended 0.83% higher at $46.33 with a total trading volume of 874,266 shares. The Company's shares have advanced 2.52% in the last one month, 1.58% over the previous three months, and 10.31% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 4.60% and 0.85%, respectively. Furthermore, shares of the Company have an RSI of 67.40.
On November 30th, 2017, research firm Citigroup upgraded the Company's stock rating from 'Sell' to 'Neutral'.
On December 21st, 2017, Agnico Eagle Mines ("AEM") announced that it has agreed to acquire all of the Canadian exploration assets of Canadian Malartic Corporation ("CMC"), including the Kirkland Lake and Hammond Reef Gold projects (the "Transaction"). CMC is a corporation 50-50 owned and operated by AEM and Yamana Gold Inc. ("Yamana"). The Transaction is being structured as an asset deal, whereby AEM will acquire all of Yamana's indirect 50% interest in the Canadian exploration assets of CMC, giving AEM 100% ownership of CMC's interest in the assets on closing of the Transaction. Know more about AEM in our free research coverage at:
www.wallstequities.com/registration/?symbol=AEM
--
Wall St. Equities:
Wall St. Equities (WSE) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. WSE has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
WSE has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@wallstequities.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by WSE. WSE is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
WSE, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. WSE, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, WSE, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither WSE nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit
https://wallstequities.com/legal-disclaimer/
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company, we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@wallstequities.com
Phone number: +21-32-044-483
Office Address: 1 Scotts Road #24-10, Shaw Center Singapore 228
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
https://c212.net/c/img/favicon.png?sn=IO78448&sd=2017-12-29 View original content:http://www.prnewswire.com/news-releases/morning-technical-insight-on-these-gold-stocks----comstock-mining-asanko-gold-randgold-resources-and-agnico-eagle-mines-300576031.html
SOURCE Wall St. Equities
Gold Prices at 4-Week Highs
Thursday, 28 December 2017 6:14
News Link:
https://www.dailyforex.com/forex-technical-analysis/2017/12/gold-prices-at-4-week-highs-december-28-2017/88598
Gold prices hit 2-wk high on year-end outlook, strong support
December 21, 2017, 12:08:00 AM EDT By Reuters
Link:
http://www.nasdaq.com/article/gold-prices-hit-2wk-high-on-yearend-outlook-strong-support-20171221-00007
Uptrend: D 8ema, D 20ma -> $1/sh
Following are two charts from my buddy, first comparing the daily AMEX/TSX regarding D 20ma and D 8ema.
Secondly showing how low shorts actually brought this stock below value of $1.90 USD and now even in comparison to Gold spot. Tangible Book value of this stock is still at $2.14/sh.
Assuming $1.90/sh USD value (100% Fibo from $0.45/sh) and marked $1264/oz Gold spot @ $1/sh USD reference (38% Fibo) shows lots of tailwinds.
Indeed, the $1/sh USD recovery should take place soon.
Gold spot itself bounces from $1237/oz, contract expiration took place on 12/17 and shows a healthy recovery.
Yesterday's pullback due to the Tax Deal confusion is also overdone, having a clear positive gold market signal.
Fibo range $0.45 - $1.90, with Gold Spot $1264/oz aligned to $1/sh
AMEX and TSX Daily
Trade date controls!!
Thanks for the excellent chart analysis on AKG. Very good move higher today for the stock. This company is too good to have the stock stay depressed very long.
Asanko Gold, Inc. NYSE American: AKG
Closing Price $0.6255
Day's Change +0.1654 (+35.95%)
Day's High 0.639
Day's Low 0.48
Volume (Heavy Day): 3,617,186
* * $AKG Video Chart 12-18-17 * *
Link to Video - click here to watch the technical chart video
I'm glad I held through that last bit of downtrend, lol. I am back in black!
And, by the way, settlement is T+3 in the USA, not T+2. You are spreading misinformation.
Nope, it's the trade day, not settlement, at least with IRS, and I'd be very surprised if Canada's tax authority is any different on this issue. I'm not going to look it up and quote if for you, but you are wrong.
Tax Loss Selling Trade Day Deadline 12/27,
so it makes it to the settlement day 12/29.
You will find this info everywhere and it must be settled
within 2017.
However .. this might not be the issue at hand here.
We will see which exchange will be used as the canonical reference today.
You are correct it is the trade date not the settle date..why do so many people think it is the settle day? So 12/29 is the last day for tax loss selling.....AKG is still a great buy as is PAAS IMHO
12/29 is the tax loss selling deadline... it’s trade date not settle date.
Half million USD effort to re-test $0.45 next week?
$0.45 closing price floor marked in previously posted
Fibo Levels. Should hold, but seems like some short
sellers are not done yet covering and need to force
the price lower?
This puzzle me, since the big guns like K2 and MW
do have a quite high average of their SI position
and should have already covered.
Then there was a little notion of higher USD prices
and maybe a little gold pullback next week?
12/27 is 9 trading days away - tax loss selling deadline.
May the price move within channel 45c - 52c?
It will be a very interesting time until 12/27.
What the heck happened here today
should go back up if no other trouble exists..no reason for the sp to be this low.
I agree. AKG will bounce back significantly from these oversold levels. Very good buying opportunity here. This company's fundamentals are too good for the stock to remain so depressed.
Retrace to 78% is due short term, $0.76+
Then catalysts shall recover it to long term support 38% $1.35.
TSX RSI 12.70, AMEX RSI 14.15
Gold bounced at its own 78% retrace, Gary made a 'golden call'
on 12/12 https://thegoldforecast.com/video/could-78-be-golden-number-gold
Now he recaptured on 12/13 https://thegoldforecast.com/video/gold-pops-following-release-fomc-statement-0
At a Tangible Book value of $2.14/sh. now traded @ 21%
and gold already bouncing, we assume the time is now
to recover a chunk - anytime.
The 1st class dismissal of one class action suit was an important legal sign.
Update on production numbers shall follow in January and within 1Q18 a more broad Red Kite financing deal is expected to close.
The latter also funding growth for the Esaase development.
SI has been lowered already and the last bunch of tax loss selling mostly happened on 11/13 - so those are ready to buy back now. Tax loss selling often occurs way before the deadline, this time on 12/27.
I would say, this is a very coiled chart with accumulated positives contrasting the way overdone short seller's agenda.
Exciting and thrilling.
You are probably correct. I had this a week or so ago hitting .45 and I saved some capital when I sold around .75 or so. Took a big hit.
Makes no sense to me. This will climb quickly if the tax overhaul is voted in as law. The tax bill will surely GUARANTEE a massive market correction IMO.
I'll probably buy a fairly decent amount early next week.
Remember gold stocks have always been the safety net during market corrections.
Looks to go under .40 imho. I'll be a buyer if it get under that, but can't pull the trigger here just yet.
Asanko Gold Announces Dismissal of Class Action Securities Lawsuit
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/11/17 -- Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE American:AKG)(NYSE MKT:AKG) announced today that a putative class action securities lawsuit filed in the United States District Court for the Eastern District of New York against Asanko Gold and several executives has been dismissed.
The lawsuit, claiming that the Company made alleged misstatements or omissions in a technical report and a press release relating to the Company's mineral resources estimates, was voluntarily dismissed without prejudice by lead plaintiff on November 21, 2017. No payment or any other consideration was paid by or on behalf of Asanko Gold or its executives in connection with the lawsuit's dismissal.
The lawsuit was docketed under Sumethasorn v. Asanko Gold, Inc., et al., Civil Action No. 1:17-cv-03280-ILG-RML (E.D.N.Y.) in the United States District Court for the Eastern District of New York.
Enquiries:
For further information please visit: www.asanko.com, email: info@asanko.com.
About Asanko Gold Inc.
Asanko's vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company's flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.
Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
+44-7932-740-452
alex.buck@asanko.com
Asanko Gold Inc.
Rob Slater
Executive, Corporate Development and Strategy
+27-11-467-2758
rob.slater@asanko.com
http://www.asanko.com
Source: Asanko Gold Inc.
Don't let it get you down....this really looks like it is going to be in low to mid 40's...I cancelled my trigger....so just wait and see....
It would seem so. I was feeling pretty confident in my mark, but I missed it big time and it cost me a grand. I've had a run of bad trades lately. I think it's time to take a break and go be in nature.
Slow and Steady....Problem is they put it in "reverse" instead of "Drive".....
Looks like my trigger is going to be filled soon.....
Slow and steady reversal as investor confidence creeps in; that's what I believe we are seeing. Once this thing bases, it's trending up. I'm making this call largely on volume activity, diminished selling pressure, and gold itself. The chart is certainly overdue.
3M traded right at the gong on TSX!
- whole day stable, no sell off, green
- a sane seller would have simply sliced out
- at HOD near closing around 200k shares
were dumped at both, TSX and AMEX.
- seconds to the gong, 3M traded without
any price fluctuation, bought mostly
via RBC and Barclays.
- this year, such volume spikes happened right
before a local reversal.
I'm going to keep my 50 trigger......
AKG at times makes zero sense at times...Good Luck....
Bullish all day long and hits the session high thirty minutes before the bell. Aaaaaand boom. Lights out and it hits the session low in two minutes. SMH. I can't even. Silly stock market. As long as I still get my lateral day, I'm good. I'll expect a few more consolidating days and then I want my way.
Haha. Not yet.
Not yet! Is it 3:59 yet....!
You might want to have a second look, umsllc.
If you look at the volume clusters spanning each of the selloffs over the past year, you can see them decreasing in size each time. This time, the volume spikes are negligible when compared to the average volume. That's part of the reason I feel it's at a turning point. Very little selling pressure.
It appears to be maintaining for the moment. I would totally be happy with a lateral day. Even better would be two lateral days. C'mon AKG, show us some strength. I'm thinking it's time to wake the sleepers.
yes, turnaround is very close - anytime now.
TL;DR Rehash of MW's short thesis, but even the lowest and poorest PT's from analysts is high above the current price.
I am sure you all know the story and the fundamentals,
it is not that bad.
AKG is a weird stock. Held by institutions, can't keep analysts happy. Less than 3 months...down to $1.00 price target from 2 bucks....Not good.
IMO this has more down....I'm guessing mid 40's....as bottom...No rhyme nor reason....what's another 20% among friends....
I have it set for a trigger at 50...
AKG, where in the world are you going? The party's this way^^^!
I would imagine that story's been told a lot lately, in AKG. However, I'm looking at the chart and I'm seeing what I believe is the official bottom. It helps that gold has taken a turn for the better, and that new things are being undertaken at Asanko. For the life of me, I cannot find justification for the previous decline. Hopefully I'm right, since I loaded up, lol. Good luck to me, haha.
I sold my shares last week at .75.
Big loss as I bought at 1.04. But this is not good. If it drops to under .45 I might come back....too many bad days in a row....
Interesting and valuable information...
https://www.asanko.com/Investors/Short-Report-Shareholder-Information/default.aspx
Asanko Gold Site Visit Presentations
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 9, 2017) - Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE American:AKG)(NYSE MKT:AKG) is hosting an analyst and investor visit to its flagship project, the Asanko Gold Mine in Ghana, West Africa today, Thursday November 9, 2017.
All the technical presentations are available on the Company's website at: http://www.asanko.com.
Enquiries:
For further information please visit: http://www.asanko.com, email: info@asanko.com.
About Asanko Gold Inc.
Asanko's vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company's flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.
Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Asanko Gold Inc. Alex Buck Manager, Investor and Media Relations Toll-Free (N.America): 1-855-246-7341 +44-7932-740-452 alex.buck@asanko.com Asanko Gold Inc. Rob Slater Executive, Corporate Development and Investor Relations +27-11-467-2758 rob.slater@asanko.com http://www.asanko.com
Asanko Gold, Inc. to Host Earnings Call
NEW YORK, NY / ACCESSWIRE / November 3, 2017 / Asanko Gold, Inc. (NYSE American: AKG) will be discussing their earnings results in their Q3 Earnings Call to be held on November 3, 2017 at 9:00 AM Eastern Time.
To listen to the event live or access a replay of the call - visit: https://www.investornetwork.com/company/3653
To receive updates for this company you can register by emailing info@investornetwork.com or by clicking get investment info from the company's profile.
About Investor Network
Investor Network (IN) is a financial content community, serving millions of unique investors market information, earnings, commentary and news on the what's trending. Dedicated to both the professional and the average traders, IN offers timely, trusted and relevant financial information for virtually every investor. IN is an Issuer Direct brand, to learn more or for the latest financial news and market information, visit www.investornetwork.com. Follow us on Twitter @investornetwork.
SOURCE: Investor Network
Asanko Gold Reports Q3 2017 Results
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/03/17 -- Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG) (NYSE American:AKG) (NYSE MKT:AKG) reports its third quarter ("Q3") 2017 operating and financial results. The Company released its production and revenue results for Q3 2017 on October 19, 2017. All amounts are in US dollars unless otherwise stated. Management will host a conference call and webcast today at 9am Eastern Time, further details below.
Q3 2017 Highlights:
No lost time injuries during the quarter, maintaining industry leading safety statistic lost time injury frequency rate ("LTIFR") of 0.19 per million man hours worked
Gold sales of 50,241 ounces at an average realized gold price of $1,265 per ounce generating revenue of $63.7 million
Quarterly gold production of 49,293 ounces, an increase of 7% over the previous quarter
AISC3 increased to $975/oz (Q2 2017: $930/oz) quarter on quarter, primarily due to higher capitalized pre-stripping cost associated with the progression of Cut 2 in the Nkran pit
Reduction in operating cash costs2 to $485/oz (Q2 2017: $572/oz) and total cash costs2 to $549/oz (Q2 2017: $634/oz)
Cash provided by operating activities of $40.7 million ($31.7 million before working capital changes), an increase of 21% or $7 million compared to Q2 2017
Earned net income of $4.7 million ($0.02/share), a $4.0 million increase relative to Q2 2017
Cash and immediately convertible working capital of $64.3 million, as at September 30, 2017
On track to meet revised 2017 guidance of 205,000-225,000 ounces at AISC3 of US$920-960 per ounce
Commenting on the Company's quarterly performance, Peter Breese, President and CEO, said "The improved operational performance for the quarter was the result of the new mining systems we recently introduced to improve the ore loss and dilution metrics, as well as mining through multiple zones of mineralization within the Nkran pit.
These encouraging operational results translated into an improved financial performance for the quarter, continuing our track record of generating positive cash flows. Compared to Q2 2017, cash flow from the operations before working capital increased by 19%, earned net income increased by $4.0 million or $0.02 per share and our cash and immediately convertible working capital balance increased by some 9% to $64.3 million."
This news release should be read in conjunction with Asanko's Management Discussion and Analysis and the Condensed Consolidated Interim Financial Statements for the quarter ended September 30, 2017, which are available at www.asanko.com and filed on SEDAR.
Key Operating and Financial Highlights
Asanko Gold Mine
Q3 2017 Q2 2017 Q1 2017
Waste Mined ('000t) 7,339 6,457 5,620
Ore Mined ('000t) 1,181 1,049 1,017
Strip Ratio (W:O) 6.2:1 6.2:1 5.5:1
Mining Cost ($/t mined) 3.35 3.22 3.89
Ore Treated ('000t) 862 887 908
Gold Feed Grade (g/t) 1.9 1.7 2.1
Gold Recovery (%) 94 94 95
Processing Cost ($/t treated) 12.94 12.80 13.36
Gold Production (oz) 49,293 46,017 58,187
Gold Sales (oz) 50,241 48,461 57,812
Average Realised Gold Price ($/oz) 1,265 1,238 1,199
Operating Cash Costs2 ($/oz) 485 572 578
Total Cash Costs2 ($/oz) 549 634 638
All-in Sustaining Costs ("AISC")3 ($/oz) 975 930 956
All-in Sustaining Margin ($/oz) 1 290 308 243
Gross Gold Revenue ($m) 63.5 60.0 69.3
Production Costs, including Royalties ($m) 28.0 31.3 37.7
Income from Mine Operations ($m) 17.9 14.5 15.1
Net Income attributable to common shareholders ($m) 4.7 1.0 7.8
Net Income per share $0.02 $0.00 $0.04
Cash provided by Operating Activities ($m) 40.7 33.7 14.4
Cash provided by Operating Activities b/f working capital ($m) 31.7 26.7 28.8
Cash provided by Operating Activities per share $0.20 $0.17 $0.07
Q3 2017 Operating Results
Industry-leading safety record maintained, with a rolling 12 month LTIFR of 0.19 per million man hours worked and no lost time injuries reported during the quarter.
Gold production of 49,293 ounces, an increase of 7% over the previous quarter as mining interventions delivered results.
Ore mining rates for the Asanko Gold Mine ("AGM") averaged 393,000 tonnes per month ("tpm") for the quarter at an average mining grade of 1.8 g/t and a strip ratio of 6.2:1.
At Nkran, during Q3, mining operations extracted ore from multiple zones of mineralization with an average mining grade of 1.8 g/t. The deployment of blast monitoring technology to minimize ore losses and dilution has continued to yield positive results.
The grade control versus the resource model reconciliation continued to improve with a positive ounce variance of 8% in the quarter. In addition, with the introduction of the Blast Movement Technology and improved ore delineation techniques within the pit, the reserve to mill feed reconciliation was within 1% on an ounce basis for the quarter. Both of the these positive reconciliations clearly validate the Mineral Resource and Reserve Estimates.
At the Akwasiso satellite deposit mining operations delivered approximately 20,000tpm @ 1.3g/t of oxide ore for the quarter. These levels are expected to continue in Q4 2017.
The Company completed a confirmatory drilling program at Akwasiso to infill drill test the previously inaccessible area which was covered with tailings from historic artisanal mining activities and the results confirmed the Akwasiso reserve model.
At Dynamite Hill, the second satellite pit to be brought into production, site establishment commenced during the quarter in preparation of mining operations in Q4 2017. This included 3,096m of grade control drilling which validated the resource model and confirmed the mine plan and oxide ore volumes.
The processing facility was impacted by three mill motor outages, which resulted in a total of 11 days of lost milling time during the quarter, equating to in excess of 5,000 ounces of lost gold production. In Q3 the plant processed 862,000 tonnes with a feed grade of 1.9 g/t.
Gold recovery continued to exceed design levels at 94%.
Commissioning of the Project 5 Million volumetric upgrades was completed during the quarter. The upgrades were designed on a fresh to oxide ore ratio of 9,000:6,000tpd. The processing facility is currently achieving milling rates in excess of 13,500 tonnes per day on a campaign basis. The increase in higher fresh ore tonnes is being achieved by modifications to the communiton circuit, currently consisting of three mobile crushers. A secondary crusher is expected to be permanently installed in Q2 2018.
Q3 2017 Financial Performance
Net income attributable to common shareholders increased by $4.0 million compared to the previous quarter, up to $4.7 million or $0.02 per share (Q2 2017: $0.00 per share).
Mining and processing costs for Q3 2017 averaged $3.35/tonne mined (Q2 2017: $3.22/tonne) and $12.94/tonne milled (Q2 2017: $12.80/tonne), respectively. Mining costs per tonne were moderately higher than Q2 2017 as a result of the progression of Cut 2 into more competent material, offset partially by lower per unit costs associated with the development of the Akwasiso pit in oxides. Of the mining costs incurred during Q3 2017, a total of $19.0 million was deferred as stripping costs. Processing unit costs were also moderately higher than Q2 2017 due to the impact of three mill motor outages that resulted in higher maintenance costs, while fewer tonnes were milled which had the impact of increasing fixed processing cost on a per unit basis.
Operating cash costs2 and total cash costs2 decreased to $485/oz (Q2: $572/oz) and $549/oz (Q2: $634/oz) respectively. The reduction was predominantly the result of lower production costs, augmented by the impact of higher sales volumes which had the effect of reducing fixed production costs on a per unit basis
AISC3 increased quarter on quarter to $975/oz (Q2 2017: $930/oz), predominantly due to higher sustaining capitalized stripping cost, partly offset by the reduction in total cash cost per ounce.
Gold sales of 50,241 ounces at an average realized price of $1,264/oz (Q2 2017: $1,238/oz). With revenues, net of royalties, of $60.5 million (Q2 2017: $57.0 million).
Total cost of sales (including depreciation and depletion) was $42.6 million.
Cash provided by operating activities was $40.7 million or $0.20 per share. Cash provided by operating activities before working capital adjustments was $31.7 million.
Q3 2017 Liquidity and Capital Resources
Cash and immediately convertible working capital amounted to $64.3 million as at September 30, 2017, comprising cash and cash equivalents of $60.8 million, unrefined gold dore on hand with a cost of $2.2 million (and a market value of $3.5 million) and $1.3 million in receivables from gold sales.
2017 Outlook
From Q4 2017 onwards, the AGM's mine plan will incorporate all sources of ore available from its multiple pits to blend to the mill to enable the optimization of the various pit extraction rates, the stockpile balances and operating costs. As a consequence, the mill feed grades are expected to reflect the average reserve grades from the respective pits as they are mined, including the blended grade average from the various stockpiles.
The Company is on track to meet its revised 2017 guidance of 205,000 to 225,000 ounces at AISC of US$920 to US$960 per ounce.
Notes:
1 Non-GAAP Performance MeasuresThe Company has included certain non-GAAP performance measures in this press release, including working capital, adjusted net income (loss), adjusted net income (loss) per share, operating cash costs, total cash costs, all-in sustaining costs per ounce of gold produced and all-in sustaining margin. These non-GAAP performance measures do not have any standardized meaning. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.
2 Operating Cash Costs per ounce and Total Cash Costs per ounceOperating cash costs are reflective of the cost of production, adjusted for share-based payments and by-product revenue for each ounce of gold sold. Total cash costs include production royalties of 5%.
3 All-in Sustaining Costs Per Gold Ounce The Company has adopted the reporting of "all-in sustaining costs per gold ounce" ("AISC") as per the World Gold Council's guidance. AISC include total cash costs, corporate overhead expenses, sustaining capital expenditure, capitalized stripping costs and reclamation cost accretion for each ounce of gold sold.
Q3 2017 Operating and Financial Results Conference Call & Webcast Details
Management will host a conference call and webcast at 9am EST on Friday, November 3, 2017 to discuss the Q3 2017 operating and financial results, which will be published on the same day:
US/Canada Toll Free: 800 954 0585
UK Toll Free: 0800 496 1094
International: + 1 312 281 1210
Webcast:
Please click on the link: https://cc.callinfo.com/r/1p4r4b25z6ku0&eom
Replay
A recorded playback will be available approximately two hours after the call until December 3, 2017:
US/Canada Toll Free: 800 558 5253
International: +1 416 626 4100
Passcode: 21860092
Enquiries:
For further information please visit: http://www.asanko.com, email: info@asanko.com.
About Asanko Gold Inc.
Asanko's vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company's flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.
Forward-Looking and other Cautionary Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.
Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note to US Investors Regarding Mineral Reporting Standards:
Asanko has prepared its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of US securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the " SEC ") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Asanko uses certain terms, such as, "measured mineral resources", "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the public filings of Asanko which have been filed with securities commissions or similar authorities in Canada).
Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
Telephone: +44-7932-740-452
alex.buck@asanko.com
Asanko Gold Inc.
Rob Slater
Executive, Corporate Development and Strategy
Telephone: +27-11-467-2758
rob.slater@asanko.com
www.asanko.com
Source: Asanko Gold Inc.
Asanko Gold Announces Q3 2017 Production Results
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/19/17 --
Q3 2017 Highlights:
Quarterly gold production of 49,293 ounces and gold sales of 50,241 ounces, on track to meet 2017 revised production guidance of 205 – 225,000 ounces
US$63.6 million in gold revenue at an average realized price of US$1,265 per ounce
Nkran reconciliation confirming the Mineral Resource and Reserve Estimates
Industry-leading safety record maintained with a rolling 12 month LTIFR of 0.19
Stable balance sheet with unaudited cash and immediately convertible working capital balances of approximately US$64.3 million (September 30, 2017)
Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE American:AKG)(NYSE MKT:AKG) announces production results for the third quarter of 2017 ("Q3") from the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. Q3 operating and financial results will be published on November 3, 2017, conference call and webcast details below.
Commenting on the quarter Peter Breese, President and CEO, said "Overall, our quarterly production performance for Q3 was very encouraging, with positive results in a number of key areas: reconciliations confirming the Nkran resource model, management of ore losses and dilution and the plant achieving milling rates in excess of 13,500 tonnes on a per day campaign basis.
Although July and August production was impacted by the three mill motor outages, which equated to in excess of 5,000 ounces of lost gold production, the quarter still produced a very respectable 49,293 ounces. Looking ahead to the final quarter of the year, we maintain our revised guidance of 205,000 - 225,000 ounces."
Health and Safety
There were no lost time injuries ("LTI") reported during the quarter and the 12-month rolling lost time injury frequency rate ("LTIFR") per million man hours worked is 0.19.
Production
At Nkran, the deployment of blast monitoring technology to minimize ore losses and dilution has been yielding positive results. During Q3 mining operations extracted ore from multiple zones of mineralization with an average mining grade of 1.8 g/t.
At the Akwasiso satellite deposit, mining operations delivered approximately 20,000tpm of oxide ore.
At Dynamite Hill, the second satellite pit to be bought into production, site establishment commenced during the quarter in preparation of ore mining operations in Q4 2017.
The processing plant's performance during Q3 was impacted by three mill motor outages during July and August that resulted in a total of 11 days of lost milling time, which equates to in excess of 5,000 ounces of gold production. Metallurgical recoveries continued to exceed design levels at 94% with higher than design gravity recovery performance.
AGM Key Production Statistics Units Q1 2017 Q2 2017 Q3 2017
Total Tonnes Mined 000 t 6,637 7,506 8,519
Waste Tonnes Mined 000 t 5,620 6,458 7,339
Ore Tonnes Mined 000 t 1,017 1,048 1,180
Strip Ratio W:O 5.5:1 6.2:1 6.2:1
Average Gold Grade Mined g/t 1.8 1.5 1.8
Ore Treated 000 t 908 887 862
Gold Feed Grade g/t 2.0 1.7 1.9
Gold Recovery % 95 94 94
Gold Produced oz 58,187 46,017 49,293
Nkran Resource & Reserve Reconciliation
The reconciliation process to measure the entire value chain from gold in the ground through to mill feed and eventual gold production against the mineral resource estimate continued during the quarter. The grade control versus the resource model reconciliation continues to be positive and the reserve to mill feed reconciliation is within 1% for the quarter.
Sales and Liquidity
Gold production for the quarter was 49,293 ounces with gold sales of 50,241 ounces at an average realized price of US$1,265 per ounce, generating gold sales revenue of US$63.6 million. At September 30, 2017 the Company's balance sheet had approximately US$60.7 million in unaudited cash, US$1.4 million in gold receivables and US$2.2 million in dore (with a market value of US$3.7 million).
Under the current debt financing agreement with RK Mine Finance ("Red Kite"), the Company's first principal repayment on its US$150 million debt facility is due on July 1, 2018. However, as previously disclosed, Asanko has the option until March 31, 2018 to extend the first principal repayment of the facility by an additional year to July 1, 2019. Asanko is currently in discussions with Red Kite regarding the possible refinancing of the debt facility to support its Project 5 Million growth plan, which includes the construction of an overland conveyor and bringing the large Esaase deposit into production.
Qualified Person Statement
Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng) is the Asanko Qualified Person, as defined by Canadian National Instrument 43-101 (Standards of Mineral Disclosure), who has approved the preparation of the technical contents of this news release.
Q3 2017 Operating and Financial Results Conference Call & Webcast Details
Management will host a conference call and webcast at 9am EST on Friday, November 3, 2017 to discuss the Q3 2017 operating and financial results, which will be published on the same day:
US/Canada Toll Free: 800 954 0585
UK Toll Free: 0800 496 1094
International: + 1 312 281 1210
Webcast:
Please click on the link: https://cc.callinfo.com/r/1p4r4b25z6ku0&eom
Replay
A recorded playback will be available approximately two hours after the call until December 3, 2017:
US/Canada Toll Free: 800 558 5253
International: +1 416 626 4100
Passcode: 21860092
Enquiries:
For further information please visit: http://www.asanko.com, email: info@asanko.com.
About Asanko Gold Inc.
Asanko's vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company's flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa.
Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.
Forward-Looking and other Cautionary Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.
Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note to US Investors Regarding Mineral Reporting Standards:
Asanko has prepared its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of US securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the " SEC ") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Asanko uses certain terms, such as, "measured mineral resources", "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the public filings of Asanko which have been filed with securities commissions or similar authorities in Canada).
Asanko Gold Inc.
Alex Buck
Manager, Investor and Media Relations
Toll-Free (N.America): 1-855-246-7341
+44-7932-740-452
alex.buck@asanko.com
Asanko Gold Inc.
Rob Slater
Executive, Corporate Development and Strategy
+27-11-467-2758
rob.slater@asanko.com
www.asanko.com
Source: Asanko Gold Inc.
Gold clears key $1,300 line as consumer inflation reading misses mark
MarketWatch
Published: Oct 13, 2017 9:15 a.m. ET
News Link:
http://www.marketwatch.com/story/gold-churns-below-key-1300-line-ahead-of-consumer-inflation-snapshot-2017-10-13
Gold prices extend gains on renewed U.S.- North Korean anxiety
MarketWatch
Published: Oct 9, 2017 2:44 p.m. ET
News Link:
http://www.marketwatch.com/story/gold-prices-rise-as-north-korea-us-tensions-turn-the-screw-2017-10-09
Gold Price up as Dollar Weakens
FinancialBuzz.com News Commentary
NEW YORK, October 5, 2017 /PRNewswire/ --
Gold price was traded higher on Wednesday as U.S dollar weakened. Gold Spot rose 0.22 percent to $1,274.40 per ounce during Wednesday trading session. U.S. Gold futures for December delivery increased 0.18 percent to $1,277 per ounce. The U.S. dollar dipped against a basket of major currencies on speculation that a less hawkish candidate may be appointed for the next Federal Reserve Chair. Current chair Janet Yellen's term will expire in February. Gold is highly sensitive to the changes in U.S. interest rates as a higher rate will increase the opportunity cost of holding non-yielding bullion. Magellan Gold Corporation (OTC: MAGE), Eldorado Gold Corporation (NYSE: EGO), Harmony Gold Mining Company Ltd (NYSE: HMY), Asanko Gold Inc. (NYSE: AKG), Golden Star Resources Ltd. (NYSE: GSS).
Gold had gained nearly 10 percent year-to-date, boosted by global geopolitical uncertainties. The trading of the yellow metal may also be impacted by the long Chinese holiday. MKS PAMP trader Sam Laughlin said in a note: "Asian trade on Wednesday saw a modest recovery to bullion on the back of dollar weakness. The yellow metal looks to be settling in for a period of consolidation around current levels as interest out of Asia remains muted due to the Chinese holiday period."
Magellan Gold Corporation (OTCQB: MAGE) on September 29th announced that, "its purchase of the SDA Mill, Nayarit State, Mexico, from Rose Petroleum plc (AIM: ROSE) is on track to close by the end of October 2017. The SDA Mill is a fully permitted and operational mineral processing plant and includes all associated assets, licenses and agreements. Major milestones towards closing were achieved on September 11, 2017, when Magellan and Rose announced the execution of a definitive purchase agreement, and on September 18, 2017, when Rose obtained its shareholder approval required for the sale. The final major item, restructuring of Mexican ownership of the SDA Mill, is in process and is expected to be concluded in October 2017."
"Acquisition of the SDA Mill will transform Magellan into a production company and will be an exciting development for our shareholders," stated CEO Pierce Carson. "Our strategy following the acquisition will be to resume processing operations, build production and increase cash flow."
Total consideration for the SDA Mill purchase is US$1.5 million, consisting of $1.0 million in cash and $500,000 in Magellan stock, of which $100,000 in cash already has been paid. As announced August 16, 2017, Magellan has arranged $900,000 in irrevocable bridge loans in support of its option to purchase the mill. The bridge loans are sufficient to complete the cash component of the purchase price. Although the parties anticipate closing to occur in October 2017, there can be no assurance that the purchase of the mill will be concluded.
Eldorado Gold Corporation (NYSE: EGO) is a leading mid-tier gold producer with mining, development and exploration operations in Turkey, Greece, Romania, Serbia, Canada and Brazil. The Company's success to date is based on a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with the communities where it operates. On September 21, 2017, the company announced that it has entered into constructive dialogue with Greece's Ministry of Energy and Environment in respect to the development of the Company's subsidiary, Hellas Gold S.A.'s, Kassandra Mine assets in Halkidiki, Northern Greece. The Kassandra assets, which include the Skouries and Olympias projects and the Stratoni mine, were permitted under one single Environment Impact Study approved in 2011 by the Greek State.
Harmony Gold Mining Company Ltd (NYSE: HMY), a gold mining and exploration company, conducts its activities in South Africa, one of the world's best-known gold mining regions, and in Papua New Guinea, one of the world's premier new gold-copper regions. Harmony was South Africa's third largest gold producer and the twelfth largest in the world in FY16. In FY16, the company's South African operations accounted for 93% of total production of 1.08Moz, with the remaining 7% coming from Papua New Guinea. At the same time, the company's South African holdings represented 55% of its mineral resource base, while those in Papua New Guinea represented 45%. In terms of gold equivalent ounces, 62% of total mineral reserves are gold and 38% copper.
Asanko Gold Inc. (NYSE: AKG) vision is to build a low cost, mid-tier-gold mining company through the delivery a three pronged strategy: phased production, competitive operating and capital costs and growth, both organic and M&A. On September 22, 2017, the company announced it has acquired ownership of the Miradani Mining Lease, which is adjacent to the Asanko Gold Mine in Ghana, West Africa from AngloGold Ashanti. Covering an area of approximately 15 km2, the Miradani Project is on an existing mining lease which will enable potential mineral resources to be accelerated to production. The northern boundary of the concession is located approximately 5.5 km south of the AGM's processing plant on the NE-SW Asankrangwa structural corridor. The underexplored Asankrangwa Gold Belt is about 7 km wide and over 50 km long.
Golden Star Resources Ltd. (NYSE: GSS) has recently reported the first four results from the 2017 extension drilling program at its Prestea Underground Gold Mine in Ghana. The Company also announces seven results from the 2017 in-fill drilling program. Sam Coetzer, President and Chief Executive Officer of Golden Star, commented, "We believe that Prestea Underground is one of the highest-grade gold development projects in West Africa1. These initial results from our extension drilling program indicate that the West Reef extends to the north of the existing Mineral Reserves, representing the potential to increase the annual production rate in the near term. The in-fill drilling results have also further increased our confidence in the grade, thickness and continuity of the currently defined West Reef Mineral Reserve. I look forward to releasing further extension drilling results during the fourth quarter of 2017 and gaining a stronger understanding of Prestea Underground's longer-term potential as the drilling program increases momentum in early 2018."
Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com expects to be compensated five thousand dollars for financial news dissemination and pr services by a non-affiliate third party for magellan gold corporation. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com.
For further information:
Media Contact:
info@financialbuzz.com
+1-877-601-1879
URL: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com
Followers
|
18
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
173
|
Created
|
04/29/12
|
Type
|
Free
|
Moderators |
VANCOUVER, May 4, 2020 /CNW/ - Galiano Gold Inc. ("Galiano" or the "Company") (TSX, NYSE American: GAU) (formerly Asanko Gold Inc.) is pleased to announce that effective at the market open on May 5, 2020 the Company's common shares will be trading on both the Toronto Stock Exchange (TSX) and the New York Stock Exchange American (NYSE American) under the Company's new name, Galiano Gold Inc., and its new trading symbol "GAU". The name change was approved by the shareholders at the Company's Annual General and Special Meeting held on April 30, 2020.
The Company believes that the new name of the Company provides a clear distinction between the corporate level entity and the Asanko Gold Mine ("AGM"). The AGM is a 50:50 joint venture ("JV") with Gold Fields Ltd (JSE, NYSE: GFI), which is managed and operated by Galiano.
Effective immediately, the Company's former website, www.asanko.com will redirect visitors to the Company's webpage www.galianogold.com.
About Galiano Gold Inc.
Galiano is focused on creating a sustainable business capable of long-term value creation for its stakeholders through organic production growth, exploration and disciplined deployment of its financial resources. The company currently operates and manages the Asanko Gold Mine, located in Ghana, West Africa which is jointly owned with Gold Fields Ltd. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities. For more information, please visit www.galianogold.com.
Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCE Galiano Gold Inc.
For further information: Enquiries: Lynette Gould, SVP Investor Relations, Toll-Free (N. America): 1-855-246-7341, Telephone: 1-778-729-0608, Email: lynette.gould@galianogold.com
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |