https://www.miningweekly.com

Asanko achieves solid quarter at Ghana mine

19th January 2018

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – A solid quarterly performance was recorded at NYSE-listed Asanko Gold’s eponymous mine in Ghana, which produced 51 550 oz in the fourth quarter of 2017.

Asanko CEO Peter Breese on Thursday noted that this helped the company achieve its revised 2017 guidance, with full-year production of 205 047 oz.

During the quarter, the miner opened up and started ore mining operations at its second satellite deposit, Dynamite Hill, recording milling rates by the processing plant, which achieved the design throughput rate of five-million tonnes a year on a yearly basis for December.

This was despite lower oxide tonnes being fed to the mill than designed for, and high metallurgical recovery, which continued to be above design at 94% at these elevated mill throughput rates.

Asanko sold 49 561 oz of gold at an average realised price of $1 264/oz during the fourth quarter, generating revenue of $62.6-million.

Meanwhile, the company noted that discussions with lenders Red Kite Mining Finance regarding the refinancing of an existing debt facility were progressing.

“We expect to update the market during the first quarter [of this year] on the outcomes of these discussions, along with the publication of the Project Five Million Optimised Plan," said Breese.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 
Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.769s - 111pq - 2rq
Subscribe Now