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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 four exploration properties. They have approximately 2.5Moz. of gold in the reserves and resources category of which 1.5Moz. are in the measured and indicated category. They have a market capitalisation of ~C$361.83M which is a rise of roughly 23% over the last eleven months. As of 09/07/2021 they have ~C$47M debt and ~C$27.4M cash. They have 255M shares outstanding and trade on the Canadian Securities Exchange and the over-the-counter markets.

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General Details

Financial 09/07/2021
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Mkt. Cap (FD): $293.66M $361.83M 09/07/2021 $68.17M
Total Assets: $39.85M $39.14M 09/07/2021 $-0.71M
Total Liabilities: $55.80M $54.80M 09/07/2021 $-1.00M
Current Assets: $27.90M $27.40M 09/07/2021 $-0.50M
Current Liabilities: $47.83M $46.97M 09/07/2021 $-0.85M
Total Debt: $47.83M $46.97M 09/07/2021 $-0.85M
Cash: $27.90M $27.40M 09/07/2021 $-0.50M
Enterprise Value: $313.59M $381.40M 02/01/1982 $67.81M
Cash Flow: $0.00M $30.66M never $30.66M
Cash Flow Multiple: 0.00 11.80 never 11.80
Net Debt to
Cash Flow Ratio:		 n/a 0.64 never 0.64
Finance within 1 year: 09/07/2021 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 09/07/2021 0.00%
Misc 09/07/2021
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 255,201,000 255,201,000 09/07/2021 0
Shares (FD): 334,924,000 334,924,000 09/07/2021 0
Insider Ownership: n/a 40% 07/07/2022 40%
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 06/01/2022 09/07/2021 n/a
Production (Gold Eq Oz.): (guess) 
0		 (guess) 
100,000		 07/07/2022 100,000
Production (Silver Eq Oz.): (guess) 
0		 (guess) 
8,525,046		 07/07/2022 8,525,046
Initial CapEx (Outstanding): $60.00M
20.43% of Mkt.Cap		 $60.00M
16.58% of Mkt.Cap 		09/07/2021 $0.00M
Funding Option: n/a n/a 09/07/2021 n/a
Documentation: none PRODUCER 07/07/2022 n/a
Value Adjustment: 25% 25% never 0%

Resource Data

GOLD 09/07/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 09/07/2021 0.00M
Measured & Indicated: 1.50M 1.50M 09/07/2021 0.00M
Inferred: 1.00M 1.00M 09/07/2021 0.00M
Reserves & Resources: 2.50M 2.50M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 09/07/2021 0.00M
Measured & Indicated: 1.02M 1.02M 09/07/2021 0.00M
Inferred: 0.43M 0.43M 09/07/2021 0.00M
Reserves & Resources: 1.45M 1.45M never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a (guess) 
100,000oz.		 07/07/2022 100,000oz.
Cash Cost: n/a $950 07/07/2022 $0.00
Extra Operating Cost: n/a $450 07/07/2022 $0.00
Average Grade: 3.00 g/t 3.00 g/t 09/07/2021 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 07/07/2022 0.00%
F
U
T
U
R
E		 Proven & Probable: 1.50M 1.50M 09/07/2021 0.00M
Annual Production: 100,000oz. 100,000oz. 09/07/2021 0oz.
Cash Cost: $950 $950 09/07/2021 $0
Extra Operating Cost: $450 $450 09/07/2021 $0
SILVER 09/07/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: n/a n/a 09/07/2021 0.00M
Measured & Indicated: n/a n/a 09/07/2021 0.00M
Inferred: n/a n/a 09/07/2021 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 09/07/2021 0.00M
Measured & Indicated: n/a n/a 09/07/2021 0.00M
Inferred: n/a n/a 09/07/2021 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T		 Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 09/07/2021 $0.00
Extra Operating Cost: n/a n/a 09/07/2021 $0.00
Average Grade: n/a n/a 09/07/2021 n/a
Recovery Rate: n/a n/a 09/07/2021 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 09/07/2021 0.00M
Annual Production: n/a n/a 09/07/2021 n/a
Cash Cost: n/a n/a 09/07/2021 n/a
Extra Operating Cost: n/a n/a 09/07/2021 n/a

Property

Last Analysis Data  (09/07/2021)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development West Africa, Ghana Kubi 50% (guess) 1,900 n/a show
350,000 oz high grade deposit.

50% JV

Production in 2018 or 2019 at 35,000 oz (500 tpd).
Exploration Ghana, Ghana Betenase 100% (guess) n/a n/a show
Early exploration.
Exploration West Africa, Ghana Bibiani 100% (guess) n/a Open Pit show
2.5 million oz deposit.
Exploration Africa, Ghana Fahiakoba 95% (guess) 2,200 Open Pit show
Good location, next to two large mines. Early exploration. Very little drilling.
Exploration Ghana, Ghana Keyhole 100% (guess) n/a n/a show
Early Exploration.
Total Land Package Size (ha): 4,100  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Development West Africa, Ghana Kubi 50% (guess) 1,900 n/a show
350,000 oz high grade deposit.

50% JV

Production in 2018 or 2019 at 35,000 oz (500 tpd).
Exploration Ghana, Ghana Betenase 100% (guess) n/a n/a show
Early exploration.
Exploration West Africa, Ghana Bibiani 100% (guess) n/a Open Pit show
2.5 million oz deposit.
Exploration Africa, Ghana Fahiakoba 95% (guess) 2,200 Open Pit show
Good location, next to two large mines. Early exploration. Very little drilling.
Exploration Ghana, Ghana Keyhole 100% (guess) n/a n/a show
Early Exploration.
Total Land Package Size (ha): 4,100  

Profitability (by resource)

Proven &
Probable		 09/07/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD Mkt. Cap / Gold Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Silver Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:		 n/a n/a n/a 0.00%
Measured &
Indicated		 09/07/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 1.50M 1.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 17.20M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.02M 1.02M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 11.70M
Maximum Profit (Gold): $351.38M $390.92M n/a $39.54M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $351.38M $390.92M n/a $39.54M
Max Profit / Current MCap: 1.197 1.080 n/a -0.116
Max Profit Per Share (Gold): $1.05 $1.17 n/a $0.12
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.05 $1.17 n/a $0.12
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $287.90 $354.73 n/a $66.83
FD Mkt. Cap / Silver Eq.: $3.90 $4.16 n/a $0.26
FD Mkt. Cap / Per Metal
as % Spot Price:		 16.05% 19.30% n/a 3.25%

Reserves &
Resources		 09/07/2021
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 2.50M 2.50M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 28.67M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 1.45M 1.45M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 16.57M
Maximum Profit (Gold): $497.78M $553.80M n/a $56.01M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $497.78M $553.80M n/a $56.01M
Max Profit / Current MCap: 1.695 1.531 n/a -0.165
Max Profit Per Share (Gold): $1.49 $1.65 n/a $0.17
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $1.49 $1.65 n/a $0.17
Total Free Profit Per Share: $0.39 $0.27 n/a $-0.11
FD Mkt. Cap / Gold Eq.: $203.22 $250.40 n/a $47.18
FD Mkt. Cap / Silver Eq.: $2.75 $2.94 n/a $0.18
FD Mkt. Cap / Per Metal
as % Spot Price:		 11.33% 13.62% n/a 2.29%

Future Valuation (Cash Flow & Totals)

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