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Asante Gold Corp

www: www.asantegold.com   email: Douglas@asantegold.com
Category: Mid-tier Producer
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Symbol Data

Symbol Currency
CNSX:ASE CAD
OTCMKTS:ASGOF USD

Description

Asante Gold Corp are a gold focused mid-tier producer with one mine in development in Ghana and five exploration properties. They have approximately 5Moz. of gold in the reserves and resources category of which 3Moz. are in the measured and indicated category. They have a market capitalisation of ~C$659.7M which is a rise of roughly 69% over the last nine months. As of 09/10/2022 they have ~C$149M debt and ~C$26.06M cash. They have 355M shares outstanding and trade on the Canadian Securities Exchange and the over-the-counter markets.

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General Details

Financial 09/10/2022
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $391.19M $659.70M 09/10/2022
Total Assets: $38.39M $37.23M 09/10/2022
Total Liabilities: $161.25M $156.36M 09/10/2022
Current Assets: $26.88M $26.06M 09/10/2022
Current Liabilities: $46.07M $44.67M 09/10/2022
Total Debt: $153.57M $148.92M 09/10/2022
Cash: $26.88M $26.06M 09/10/2022
Enterprise Value: $517.89M $782.55M 10/19/1994
Cash Flow: $101.40M $134.19M never
Cash Flow Multiple: 3.86 4.92 never
Net Debt to
Cash Flow Ratio:		 1.25 0.92 never
Finance within 1 year: 09/10/2022
Misc 09/10/2022
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 355,000,000 355,000,000 09/10/2022
Shares (FD): 443,000,000 443,000,000 09/10/2022
Insider Ownership: n/a 40% 04/21/2023
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a 06/01/2022 09/10/2022
Production (Gold Eq Oz.): (guess) 
300,000		 (guess) 
300,000		 09/10/2022
Production (Silver Eq Oz.): (guess) 
25,575,139		 (guess) 
24,764,307		 09/10/2022
Initial CapEx (Outstanding): $60.00M
15.34% of MCap		 $60.00M
9.1% of MCap 		09/10/2022
Funding Option: n/a n/a 09/10/2022
Documentation: none PRODUCER 04/21/2023
Future MCap Modifier: 0.25
Producer: Quality
 0.25
Producer: Quality
 04/24/2023
Cash Flow Multiplier: 5 8 04/21/2023

Resource Data

GOLD 09/10/2022
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 2.80M 2.80M 09/10/2022
Measured & Indicated: 3.00M 3.00M 09/10/2022
Inferred: 2.00M 2.00M 09/10/2022
Reserves & Resources: 5.00M 5.00M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 2.38M 2.38M 09/10/2022
Measured & Indicated: 2.52M 2.52M 09/10/2022
Inferred: 0.85M 0.85M 09/10/2022
Reserves & Resources: 3.37M 3.37M never
C
U
R
R
E
N
T		 Annual Production: (guess) 
300,000oz.		 (guess) 
300,000oz.		 09/10/2022
Cash Cost: $1,000 $1,000 09/10/2022
Extra Operating Cost: $500 $500 09/10/2022
Average Grade: 3.00 g/t 3.00 g/t 09/10/2022
Recovery Rate: (CG)  85.00% (CG)  85.00% 04/21/2023
F
U
T
U
R
E		 Proven & Probable: 3.00M 3.00M 09/10/2022
Annual Production: 400,000oz. 400,000oz. 09/10/2022
Cash Cost: $1,000 $1,000 09/10/2022
Extra Operating Cost: $450 $450 09/10/2022
SILVER 09/10/2022
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 09/10/2022
Measured & Indicated: n/a n/a 09/10/2022
Inferred: n/a n/a 09/10/2022
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 09/10/2022
Measured & Indicated: n/a n/a 09/10/2022
Inferred: n/a n/a 09/10/2022
Reserves & Resources: n/a n/a never
C
U
R
R
E
N
T		 Annual Production: n/a n/a
Cash Cost: n/a n/a 09/10/2022
Extra Operating Cost: n/a n/a 09/10/2022
Average Grade: n/a n/a 09/10/2022
Recovery Rate: n/a n/a 09/10/2022
F
U
T
U
R
E		 Proven & Probable: n/a n/a 09/10/2022
Annual Production: n/a n/a 09/10/2022
Cash Cost: n/a n/a 09/10/2022
Extra Operating Cost: n/a n/a 09/10/2022

Property

Last Analysis Data  (09/10/2022)
Stage Name Owned Au Ag Cu Notes
Dev Kubi 50% show
350,000 oz high grade deposit.

50% JV

Production in 2018 or 2019 at 35,000 oz (500 tpd).
Exp Betenase 100% show
Early exploration.
Exp Bibiani 100% show
2.5 million oz deposit.
Exp Chirano 100% show
150,000 oz to 200,000 oz producer

1 million oz of reserves
1 million oz of M&I
Exp Fahiakoba 95% show
Good location, next to two large mines. Early exploration. Very little drilling.
Exp Keyhole 100% show
Early Exploration.
Total Land Package Size (ha): 4,100  
Current Data
Stage Name Owned Au Ag Cu Notes
Dev Kubi 50% show
350,000 oz high grade deposit.

50% JV

Production in 2018 or 2019 at 35,000 oz (500 tpd).
Exp Betenase 100% show
Early exploration.
Exp Bibiani 100% show
2.5 million oz deposit.
Exp Chirano 100% show
150,000 oz to 200,000 oz producer

1 million oz of reserves
1 million oz of M&I
Exp Fahiakoba 95% show
Good location, next to two large mines. Early exploration. Very little drilling.
Exp Keyhole 100% show
Early Exploration.
Total Land Package Size (ha): 4,100  

Profitability (by resource)

Proven &
Probable		 09/10/2022
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 2.80M 2.80M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.38M 2.38M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $804.44M $1,064.57M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $804.44M $1,064.57M n/a
Max Profit / Current MCap: 2.056 1.614 n/a
Max Profit Per Share (Gold): $1.82 $2.40 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.82 $2.40 n/a
Total Free Profit Per Share: $0.67 $0.40 n/a
FD MCap / Gold Eq.: $164.37 $277.18 n/a
FD MCap / Silver Eq.: $1.93 $3.36 n/a
FD MCap / Per Metal
as % Spot Price:		 8.94% 14.23% n/a
Measured &
Indicated		 09/10/2022
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 3.00M 3.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.52M 2.52M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $850.41M $1,125.41M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $850.41M $1,125.41M n/a
Max Profit / Current MCap: 2.174 1.706 n/a
Max Profit Per Share (Gold): $1.92 $2.54 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $1.92 $2.54 n/a
Total Free Profit Per Share: $0.77 $0.54 n/a
FD MCap / Gold Eq.: $155.48 $262.20 n/a
FD MCap / Silver Eq.: $1.82 $3.18 n/a
FD MCap / Per Metal
as % Spot Price:		 8.46% 13.46% n/a

Reserves &
Resources		 09/10/2022
Last Analysis Data
Current Data
Item Value Value Updated
Percentage Gold: 100.00% 100.00% n/a
Percentage Silver: n/a n/a n/a
Total (Gold Eq. Oz.): 5.00M 5.00M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.37M 3.37M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,137.71M $1,505.61M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,137.71M $1,505.61M n/a
Max Profit / Current MCap: 2.908 2.282 n/a
Max Profit Per Share (Gold): $2.57 $3.40 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.57 $3.40 n/a
Total Free Profit Per Share: $1.42 $1.40 n/a
FD MCap / Gold Eq.: $116.22 $195.99 n/a
FD MCap / Silver Eq.: $1.36 $2.37 n/a
FD MCap / Per Metal
as % Spot Price:		 6.32% 10.06% n/a

Future Valuation (Cash Flow & Totals)

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