Legendary investor, Warren Buffett says “if a business does well, the stock eventually follows.” It is on this theme that mining executive Peter Breese has built his career. This career which has encompassed over three decades includes the $6.8 billion and $1 billion sales of LionOre Mining and Mantra Resources, respectively. The Zimbabwe native got… Continue Reading

The Market Vectors Junior Gold Miners ETF (or GDXJ) is an ETF administered by Van Eck and created to replicate the Global Junior Gold Miners Index which is a basket of small-cap gold exploration, development and production companies.  The GDXJ tries to maintain an average market cap of its holdings above $150 million. According to recent… Continue Reading

West Africa has encountered a series of significant set backs recently, including the outbreak of Ebola and the dissolution of the Burkina Faso political framework.  One place in West Africa that hasn’t been affected by either Ebola or political instability is Ghana.  Fortunately for Asanko Gold (AKG:TSX), their two gold mines – which hold almost 11 million ounces… Continue Reading

After Asanko Gold (AKG:TSX) recently announced that its Board of Directors approved the Phase I build of their gold mine in Ghana, the company released better than expected metallurgical test results from the satellite, Dynamite Hill, deposit. On July 17, Asanko announced that they got the green light to build Phase I of their Asanko Gold Project which… Continue Reading

The fully-funded developer, Asanko Gold (AKG:TSX) has provided an update on its early works program and front-end engineering ahead of their Board’s final investment decision as well as groundbreaking ceremony at their Asanko Gold Project in August. The project early works remain on time and on budget.  Asanko also provided an update on the resettlement action plan… Continue Reading

AKG data by YCharts As the company promised, Asanko Gold (AKG:TSX) has finalized and amended their $150 million project debt facility with Red Kite which is inline with the previous terms.   Final definitive agreements are expected by the end of Q2.  When Asanko merged with PMI Gold late last year and the combined entity revised their plan… Continue Reading

Asanko Gold (AKG:TSX) continues to advance their West African gold project towards first gold production in Q1/2016 by commencing the construction of its early works program.  The Board of Directors has approved a $16 million budget with a full investment decision on the Asanko Gold project anticipated by Q3/2014. The early works program includes: advancing detailed engineering, earth… Continue Reading

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

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

West African gold developer, Asanko Gold (AKG:TSX) (previously Keegan Resources) has announced the final piece of funding needed to build their $290 million Esaase gold mine in Ghana.  AKG has signed a definitive agreement with Red Kite Mine Finance for a $150 million project debt facility comprised of $130 million project facility (LIBOR + 6)… Continue Reading

NOT COLARADO — Better than gold? Maybe. The Precious Metals Summit webcast is in gear. This is the Colorado conference that precedes the Denver Gold Group gathering, a larger-company show that starts Sunday evening. The video quality at Precious Metals Summit is good, and the display for about 60-plus companies is indexed accordingly by time slot… Continue Reading