Gold Exploration in West Africa

[FL]

Akrokeri-Ashanti Gold (now AKR.H) Seems Rather Dead.

Akrokeri-Ashanti had the Bonte Mine west of Kumasi in Ghana. It is a placer gold mine, the largest in Ghana, with large new Knelson concentrators for the placer ore. (I visited the Bonte mine this March.) AKR also had various other licenses in Ghana, and for a while an interest in a placer deposit in Peru. After trouble with declining production at Bonte, AKR suspended payments, then some creditors lost their patience and the Bonte mine petitioned in Ghana for dissolution. I don't know what happened to AKR's other Ghanaian assets. The Bonte mine left an ecological mess (not atypically). First some, then all of the officers and directors of AKR resigned, it was announced. I don't know whether the company has any "personnel" left at all, in Ghana or in Canada.

The stock price had a mysterious late quadrupling rise (on the Toronto Venture Exchange) from Canadian 2.5 cents to 11 cents/share around the beginning of this year, then declined inexorably to 1 cent/share. Trading was halted and never resumed. AKR was then moved to the Canadian NEX Exchange for vestigial Toronto-traded companies (see http://www.tsx.com/en/nex/index.html ) where the symbol is AKR.H now. Trading volume there seems to be zero.

Akrokeri-Ashanti still lives in cyberspace since its web-page, full-featured, apparently hasn't been updated or abolished since announcing the dissolution of the Bonte mine. See the company's current web-page at http://www.aagm.com

I don't know what the legal existence of AKR is. Does it still exist? (in Canadian and Ghanaian law) Is it a shell company now? Do the shares have any value now? Is it governed by "statutory trustees" as in U.S. law? Anyone who knows the legal and financial status of such companies better than I do, or AKR itself, please comment.

FL