Additional Information
Market: TSX, NYSEMKT
Sector: Gold Mining
EPIC: AKG
Latest Price: 2.71  (0.75% Ascending)
52-week High: 2.93
52-week Low: 1.68
Market Cap: 468.55M
1 year chart
1 day chart
Asanko Gold
www.asanko.com

Asanko’s vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. Asanko’s flagship project is the fully financed, multi-million ounce Asanko Gold Mine Project 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.


NCP keeps Keegan Resources at "Sector Outperform" on Esaase legal settlement

29th Nov 2012, 11:06 am by Joyanta Acharjee
'We believe that KGN offers value to investors and limited downside,' Northland analyst Bill Mantzoutsos said in a note. "We believe that KGN offers value to investors and limited downside," Northland analyst Bill Mantzoutsos said in a note.

NCP Northland Capital Partners issued a note on Keegan Resources (TSE:KGN)(AMEX:KGN) after the company finalized a settlement on the Esaase gold concession.

NCP has a "Sector Outperform" rating on Keegan and kept its target price at $6.50.

"We believe that KGN offers value to investors and limited downside," Northland analyst Bill Mantzoutsos said in a note.

Keegan Resources recently announced that it has reached a final, out-of-court settlement related to a lawsuit filed by Sametro Co. Ltd. naming Keegan as a co-defendant along with the Ghana Minerals Commission. 

The lawsuit was related to Keegan's acquisition of the Esaase concession in 2007, in which the plaintiff (predecessor in title to the Esaase gold property) alleged that "irregularities" had taken place.

"This is positive news for the company and eliminates any associated overhang and management distraction. Overall, the consent case dismissal and mutual release have provided an indemnification to Keegan, allowing management to focus on the short-term objectives to progress the Esaase mine through to production," Northland's Mantzoutsos said,

"Although financial details of the settlement have not been disclosed, KGN indicated that any settlements are immaterial. In our view, Keegan remains well capitalized, with a current cash balance of approximately $186 million."

The Northland analyst outlined various positive attributes of the company: its main asset is the advanced-stage, fully-financed Esaase Gold Project in Ghana with a 2.88 million ounce Proven & Probable reserve grading 1.1 grams per tonne; it has a cash balance equal to approximately 65 per cent of its market capitalization and potential exists for near mine exploration success on a structure similar to that hosting the majority of its current reserves.

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