AKG data by YCharts Asanko Gold (AKG:TSX) has been able to take advantage of the gold endowments in Ghana, not only by finding and developing the Esaase deposit but also by acquiring a nearby and equally sized development project called Obotan (part of PMI Gold acquisition, now called the Asanko Gold Project). Today, the company announced… Continue Reading
Coming off of their recent successful acquisition of PMI Gold, Asanko Gold (AKG:TSX) announced its development strategy for the development of the Ghana gold projects. The company now holds the capability of producing over 400,000 ounces of gold per year (from zero currently) within 5 years. Asanko successfully acquired PMI Gold in order to consolidate the Obotan and Esaase development… Continue Reading
Asanko Gold (AKG:TSX) and PMI Gold (PMV:TSX) announced in mid-December that they intended to merge the two to take advantage of the synergies between their two assets in Ghana. The two attempted to merge in late 2012, but was later terminated as PMI shareholders’ couldn’t agree. Asanko has since significantly de-risked their project and is… Continue Reading
THE CALANDRA REPORT: Subscribe $91 yearly SIEM REAP, Cambodia — Just touched base here with Bob Neill, newest Angkor Gold board member. Bob is the 33-year-old executive from Medellin who handles much of Grupo de Bullet’s property syndication efforts in Colombia. He is just back from touring a handful of ANK’s properties in Ratanakiri Province.… Continue Reading
According to an article by Bloomberg today, investment bankers are forecasting a rebound in gold mining M&A activity after decade low quite period for deals. Companies will be looking to acquire assets at fire-sale prices. The producers are trading at 20-year lows relative to book value, according to Bloomberg data. Total M&A transaction value in… Continue Reading
Sound familiar? That’s because Asanko Gold (AKG:TSX) and PMI Gold (PMV:TSX) attempted a merger in late 2012 that was mutually terminated in early 2013 after it became apparent they wouldn’t get the supermajority votes necessary to complete the transaction. Now, after the largest price decline in gold in over a decade and the substantial derisking that… Continue Reading
Slowly but surely, consolidation of gold miners in West Africa is picking up again. While we are far from the days when chunks of land in Mauritania sold for more than US$7-billion, there have been two interesting deals announced in the past six weeks: B2Gold Corp.’s US$63-million offer for Volta Resources Inc., and Centamin PLC’s $39.3-million… Continue Reading
Yesterday, the Honourable Ed Fast, Minister of International Trade, announced that Canada and Albania have finalized negotiations on a foreign investment promotion and protection agreement (FIPA). Minister Fast made the announcement at Albania’s Independence Day reception in Ottawa. A FIPA is a treaty designed to promote and protect Canadian investment abroad through legally binding provisions… Continue Reading
Coming off the recent discovery at the Shpirag-2 well, (25% WI with operatorship; Shell 75% non-operator), where they tested flow rates of 1,500-2,200boe/d and hit an 800m oil column; Petromanas (PMI:TSX) announced today they have added international depth to their board of directors by brining on Gen. Wesley K. Clark, U.S. Army (retired). Gen. Clark retired a four-star… Continue Reading
Seventeen months after the Shpirag-2 well started drilling in Southern Albania, Petromanas Energy (TSXV:PMI) and joint venture partner Royal Dutch Shell have finally released testing results from the $75 million exploration well on Albania’s Blocks 2-3. PMI and Shell announced a discovery at Shpirag-2 today, with flow rates of 1,500 to 2,200 barrels per day… Continue Reading
Sulliden Gold (SUE:TSX) has cleared the final hurdle at its Shahuindo gold and silver project in northern Peru by receiving an ‘okay’ for their Environmental Impact Assessment. With this milestone complete, after an 18 month permitting process, the company expects to begin construction within 30-60 days (once final project finance package completed). The construction will… Continue Reading
