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Asante Gold Corp

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

Symbol Currency
CVE: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 6.8Moz. of gold in the reserves and resources category of which 4.6Moz. are in the measured and indicated category. They have a market capitalisation of ~$1233.45M which is a rise of roughly 41% over the last three months. As of 09/12/2025 they have ~$400M debt and ~$5M cash. They have 833M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.

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General Details

Financial 09/07/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $873.21M $1,233.45M 12/16/2025
MCap (OS): $827.12M $1,087.26M 12/16/2025
Total Assets: $722.00M $722.00M 09/07/2025
Total Liabilities: $707.00M $707.00M 09/07/2025
Current Assets: $115.00M $115.00M 09/07/2025
Current Liabilities: $601.00M $601.00M 09/07/2025
Total Debt: $195.00M $400.00M 09/12/2025
Cash: $11.00M $5.00M 09/12/2025
Debt (Net): $184.00M $395.00M
Enterprise Value: $1,057.21M $1,628.45M 08/08/2021
Cash Flow: $220.48M $757.56M never
Cash Flow Multiple: 3.96 1.63 never
Net Debt to
Cash Flow Ratio:		 0.83 0.52 never
Finance within 1 year: 09/07/2025
Misc 09/07/2025
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 664,000,000 833,000,000 12/16/2025
Shares (FD): 701,000,000 945,000,000 12/16/2025
Insider Ownership: 35% 35% 12/16/2025
Dividend (Annual): n/a n/a 12/16/2025
Company Type: Mostly Gold Mostly Gold never
Group: Producer Producer never
Production ETA: n/a 06/01/2022 09/07/2025
Production (Gold Eq Oz.): (guess) 
300,000		 (guess) 
400,000		 09/12/2025
Production (Silver Eq Oz.): (guess) 
26,450,467		 (guess) 
25,922,065		 09/12/2025
Development Phase: Producer (Single Mine) Producer (Single Mine) 12/16/2025
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 25
Producer: Quality
 25
Producer: Quality
 09/07/2025
Cash Flow Multiple: 10 10 12/16/2025

Resource Data

GOLD 09/07/2025
Last Analysis Data
Current Data
Item Value Value Updated
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 3.00M 3.00M 09/07/2025
Measured & Indicated: 4.60M 4.60M 09/07/2025
Inferred: 2.20M 2.20M 09/07/2025
Reserves & Resources: 6.80M 6.80M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 2.55M 2.55M 09/07/2025
Measured & Indicated: 3.64M 3.64M 09/07/2025
Inferred: 0.94M 0.94M 09/07/2025
Reserves & Resources: 4.57M 4.57M never
C
U
R
R
E
N
T		 Annual Production: (guess) 
300,000oz.		 (guess) 
400,000oz.		 09/12/2025
Cash Cost: $2,100 $1,700 09/12/2025
Extra Operating Cost: $750 $750 09/07/2025
Total: $2,850 $2,450 09/12/2025
Margin (Free Cash Flow): $735 (21%) $1,894 (44%)
MCap / Production (AuEq): $2,910.70 $3,083.62
EV / Production (AuEq): $3,524.03 $4,071.12
G
R
A
D
E		 Underground (Avg): 3.00 g/t 3.00 g/t 09/07/2025
Open Pit (Avg): n/a 1.00 g/t 09/07/2025
Recovery Rate: (CG)  85.00% (CG)  85.00% 12/16/2025
F
U
T
U
R
E		 Proven & Probable: 6.00M 6.00M 09/07/2025
Annual Production: 400,000oz. 500,000oz. 09/12/2025
Cash Cost: $1,450 $1,600 09/12/2025
Extra Operating Cost: $750 $750 09/07/2025
SILVER 09/07/2025
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 09/07/2025
Measured & Indicated: n/a n/a 09/07/2025
Inferred: n/a n/a 09/07/2025
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 09/07/2025
Measured & Indicated: n/a n/a 09/07/2025
Inferred: n/a n/a 09/07/2025
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 09/07/2025
Extra Operating Cost: n/a n/a 09/07/2025
Total: n/a n/a 09/07/2025
Margin (Free Cash Flow): n/a
MCap / Production (AgEq): $33.01 $47.58
EV / Production (AgEq): $39.97 $62.82
G
R
A
D
E		 Underground (Avg): n/a n/a 09/07/2025
Open Pit (Avg): n/a n/a 09/07/2025
Recovery Rate: n/a n/a 09/07/2025
F
U
T
U
R
E		 Proven & Probable: n/a n/a 09/07/2025
Annual Production: n/a n/a 09/07/2025
Cash Cost: n/a n/a 09/07/2025
Extra Operating Cost: n/a n/a 09/07/2025

Property

Last Analysis Data  (09/07/2025)
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 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).

Size: 1,900 ha
Exp Betenase
100 show
Early exploration.
Exp Bibiani
90 show
2.5 million oz deposit.
Exp Chirano
90 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.

Size: 2,200 ha
Exp Keyhole
100 show
Early Exploration.
Current Data
Stage Name Owned
%		 NPV
$M		 IRR
%		 CapEx
$M		 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).

Size: 1,900 ha
Exp Betenase
100 show
Early exploration.
Exp Bibiani
90 show
2.5 million oz deposit.
Exp Chirano
90 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.

Size: 2,200 ha
Exp Keyhole
100 show
Early Exploration.

Profitability (by resource)

Proven &
Probable		 09/07/2025
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.: 2.55M 2.55M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $1,874.05M $4,829.42M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,874.05M $4,829.42M n/a
Max Profit / Current MCap: 2.146 3.915 n/a
Max Profit Per Share (Gold): $2.67 $5.11 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $2.67 $5.11 n/a
Total Free Profit Per Share: $0.95 $3.31 n/a
FD MCap / Gold Eq.: $342.44 $483.70 n/a
FD MCap / Silver Eq.: $3.88 $7.46 n/a
FD MCap / Per Metal
as % Spot Price:		 9.55% 11.14% n/a
EV / Gold Eq.: $414.59 $638.61 n/a
EV / Silver Eq.: $4.70 $9.85 n/a
EV / Per Metal
as % Spot Price:		 11.56% 14.70% n/a
Measured &
Indicated		 09/07/2025
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.): 4.60M 4.60M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.64M 3.64M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $2,673.64M $6,889.97M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $2,673.64M $6,889.97M n/a
Max Profit / Current MCap: 3.062 5.586 n/a
Max Profit Per Share (Gold): $3.81 $7.29 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $3.81 $7.29 n/a
Total Free Profit Per Share: $2.09 $5.49 n/a
FD MCap / Gold Eq.: $240.02 $339.05 n/a
FD MCap / Silver Eq.: $2.72 $5.23 n/a
FD MCap / Per Metal
as % Spot Price:		 6.70% 7.81% n/a
EV / Gold Eq.: $290.60 $447.62 n/a
EV / Silver Eq.: $3.30 $6.91 n/a
EV / Per Metal
as % Spot Price:		 8.11% 10.30% n/a

Reserves &
Resources		 09/07/2025
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.): 6.80M 6.80M n/a
Total (Silver Eq. Oz.): n/a n/a n/a
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 4.57M 4.57M n/a
Silver Eq. Oz.: n/a n/a n/a
Maximum Profit (Gold): $3,360.79M $8,660.76M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,360.79M $8,660.76M n/a
Max Profit / Current MCap: 3.849 7.022 n/a
Max Profit Per Share (Gold): $4.79 $9.16 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $4.79 $9.16 n/a
Total Free Profit Per Share: $3.07 $7.36 n/a
FD MCap / Gold Eq.: $190.95 $269.72 n/a
FD MCap / Silver Eq.: $2.17 $4.16 n/a
FD MCap / Per Metal
as % Spot Price:		 5.33% 6.21% n/a
EV / Gold Eq.: $231.19 $356.10 n/a
EV / Silver Eq.: $2.62 $5.49 n/a
EV / Per Metal
as % Spot Price:		 6.45% 8.20% n/a

Future Valuation (Cash Flow & Totals)

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