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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$454.9M which is a fall of roughly 4% over the last eight months. As of 09/20/2023 they have ~C$164M debt and ~C$25.53M cash. They have 443M shares outstanding and trade on the Canadian Securities Exchange and the over-the-counter markets.

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General Details

Financial 09/20/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
MCap (FD): $475.32M $454.90M 09/20/2023 $-20.42M
Total Assets: $727.54M $712.73M 09/20/2023 $-14.81M
Total Liabilities: $629.24M $616.43M 09/20/2023 $-12.81M
Current Assets: $111.70M $109.43M 09/20/2023 $-2.27M
Current Liabilities: $529.46M $518.68M 09/20/2023 $-10.78M
Total Debt: $167.55M $164.14M 09/20/2023 $-3.41M
Cash: $26.06M $25.53M 09/20/2023 $-0.53M
Enterprise Value: $616.81M $593.50M 10/22/1988 $-23.30M
Cash Flow: $111.70M $216.66M never $104.96M
Cash Flow Multiple: 4.26 2.10 never -2.16
Net Debt to
Cash Flow Ratio:
1.27 0.64 never -0.63
Finance within 1 year: 09/20/2023 n/a
Misc 09/20/2023
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 443,000,000 443,000,000 09/20/2023 0
Shares (FD): 491,000,000 491,000,000 09/20/2023 0
Insider Ownership: n/a 35% 03/22/2024 35%
Dividend (Annual): n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a 06/01/2022 09/20/2023 n/a
Production (Gold Eq Oz.): (guess) 
260,000
(guess) 
260,000
09/20/2023 0
Production (Silver Eq Oz.): (guess) 
21,775,000
(guess) 
20,021,716
09/20/2023 -1,753,284
Initial CapEx (Outstanding): $60.00M
12.62% of MCap
$60.00M
13.19% of MCap
09/20/2023 $0.00M
Funding Option: n/a n/a 09/20/2023 n/a
Documentation: none PRODUCER 03/22/2024 n/a
Future MCap Modifier: 0.25
Producer: Quality
0.25
Producer: Quality
04/24/2023 0
Cash Flow Multiplier: 8 8 09/19/2023 0.00

Resource Data

GOLD 09/20/2023
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 2.80M 2.80M 09/20/2023 0.00M
Measured & Indicated: 3.00M 3.00M 09/20/2023 0.00M
Inferred: 2.00M 2.00M 09/20/2023 0.00M
Reserves & Resources: 5.00M 5.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 2.38M 2.38M 09/20/2023 0.00M
Measured & Indicated: 2.52M 2.52M 09/20/2023 0.00M
Inferred: 0.85M 0.85M 09/20/2023 0.00M
Reserves & Resources: 3.37M 3.37M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
260,000oz.
(guess) 
260,000oz.
09/20/2023 0oz.
Cash Cost: $1,000 $1,000 09/20/2023 $0.00
Extra Operating Cost: $500 $500 09/20/2023 $0.00
G
R
A
D
E
Underground (Avg): 3.00 g/t 3.00 g/t 09/20/2023 n/a
Open Pit (Avg): n/a 1.00 g/t 03/22/2024 1.00 g/t
Recovery Rate: (CG)  85.00% (CG)  85.00% 03/22/2024 0.00%
F
U
T
U
R
E
Proven & Probable: 4.00M 4.00M 09/20/2023 0.00M
Annual Production: 350,000oz. 350,000oz. 09/20/2023 0oz.
Cash Cost: $1,000 $1,000 09/20/2023 $0
Extra Operating Cost: $500 $500 09/20/2023 $0
SILVER 09/20/2023
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 09/20/2023 0.00M
Measured & Indicated: n/a n/a 09/20/2023 0.00M
Inferred: n/a n/a 09/20/2023 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 09/20/2023 0.00M
Measured & Indicated: n/a n/a 09/20/2023 0.00M
Inferred: n/a n/a 09/20/2023 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 09/20/2023 $0.00
Extra Operating Cost: n/a n/a 09/20/2023 $0.00
G
R
A
D
E
Underground (Avg): n/a n/a 09/20/2023 n/a
Open Pit (Avg): n/a n/a 09/20/2023 n/a
Recovery Rate: n/a n/a 09/20/2023 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 09/20/2023 0.00M
Annual Production: n/a n/a 09/20/2023 n/a
Cash Cost: n/a n/a 09/20/2023 n/a
Extra Operating Cost: n/a n/a 09/20/2023 n/a

Property

Last Analysis Data  (09/20/2023)
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
09/20/2023
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.): 2.80M 2.80M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -18.88M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.38M 2.38M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -16.05M
Maximum Profit (Gold): $1,022.45M $1,983.25M n/a $960.81M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,022.45M $1,983.25M n/a $960.81M
Max Profit / Current MCap: 2.151 4.360 n/a 2.209
Max Profit Per Share (Gold): $2.08 $4.04 n/a $1.96
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.08 $4.04 n/a $1.96
Total Free Profit Per Share: $0.78 $2.77 n/a $1.99
FD MCap / Gold Eq.: $199.71 $191.13 n/a $-8.58
FD MCap / Silver Eq.: $2.38 $2.48 n/a $0.10
FD MCap / Per Metal
as % Spot Price:
10.35% 8.19% n/a -2.16%
Measured &
Indicated
09/20/2023
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.): 3.00M 3.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -20.23M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 2.52M 2.52M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -16.97M
Maximum Profit (Gold): $1,080.87M $2,096.58M n/a $1,015.71M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,080.87M $2,096.58M n/a $1,015.71M
Max Profit / Current MCap: 2.274 4.609 n/a 2.335
Max Profit Per Share (Gold): $2.20 $4.27 n/a $2.07
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.20 $4.27 n/a $2.07
Total Free Profit Per Share: $0.90 $3.00 n/a $2.10
FD MCap / Gold Eq.: $188.92 $180.80 n/a $-8.12
FD MCap / Silver Eq.: $2.26 $2.35 n/a $0.09
FD MCap / Per Metal
as % Spot Price:
9.79% 7.75% n/a -2.04%

Reserves &
Resources
09/20/2023
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.): 5.00M 5.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -33.72M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 3.37M 3.37M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -22.70M
Maximum Profit (Gold): $1,446.03M $2,804.89M n/a $1,358.85M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,446.03M $2,804.89M n/a $1,358.85M
Max Profit / Current MCap: 3.042 6.166 n/a 3.124
Max Profit Per Share (Gold): $2.95 $5.71 n/a $2.77
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.95 $5.71 n/a $2.77
Total Free Profit Per Share: $1.65 $4.44 n/a $2.80
FD MCap / Gold Eq.: $141.21 $135.14 n/a $-6.07
FD MCap / Silver Eq.: $1.69 $1.75 n/a $0.07
FD MCap / Per Metal
as % Spot Price:
7.32% 5.79% n/a -1.53%

Future Valuation (Cash Flow & Totals)

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