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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
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 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 ~C$403.23M which is a fall of roughly 24% over the last eight months. As of 04/27/2025 they have ~C$195M debt and ~C$23.6M cash. They have 501M shares outstanding and trade on the Canadian Securities Exchange and the over-the-counter markets.

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General Details

Financial 09/22/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
MCap (FD): $528.48M $403.23M 04/26/2025
Total Assets: $684.85M $685.86M 04/27/2025
Total Liabilities: $676.75M $560.70M 04/27/2025
Current Assets: $121.64M $123.73M 04/27/2025
Current Liabilities: $566.17M $560.70M 04/27/2025
Total Debt: $56.03M $195.24M 04/27/2025
Cash: $25.06M $23.60M 04/27/2025
Enterprise Value: $559.44M $574.87M 03/20/1988
Cash Flow: $180.35M $371.67M never
Cash Flow Multiple: 2.93 1.08 never
Net Debt to
Cash Flow Ratio:		 0.17 0.46 never
Finance within 1 year: 09/22/2024
Misc 09/22/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 445,384,986 501,086,895 04/26/2025
Shares (FD): 497,832,986 536,962,395 04/26/2025
Insider Ownership: n/a 35% 04/27/2025
Dividend (Annual): n/a n/a never
Company Type: Mostly Gold Mostly Gold never
Production ETA: n/a 06/01/2022 09/22/2024
Production (Gold Eq Oz.): (guess) 
250,000		 (guess) 
300,000		 04/26/2025
Production (Silver Eq Oz.): (guess) 
21,052,040		 (guess) 
29,824,125		 04/26/2025
Initial CapEx (Outstanding): $60.00M
11.35% of MCap		 $60.00M
14.88% of MCap 		09/22/2024
Funding Option: n/a n/a 09/22/2024
Documentation: none PRODUCER 04/27/2025
Future MCap Modifier: 0.25
Producer: Quality
 0.25
Producer: Quality
 04/24/2023
Cash Flow Multiplier: 8 8 04/26/2025

Resource Data

GOLD 09/22/2024
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 09/22/2024
Measured & Indicated: 4.60M 4.60M 09/22/2024
Inferred: 2.20M 2.20M 09/22/2024
Reserves & Resources: 6.80M 6.80M never
P
L
A
U
S
I
B
L
E		 Proven & Probable: 2.55M 2.55M 09/22/2024
Measured & Indicated: 3.64M 3.64M 09/22/2024
Inferred: 0.94M 0.94M 09/22/2024
Reserves & Resources: 4.57M 4.57M never
C
U
R
R
E
N
T		 Annual Production: (guess) 
250,000oz.		 (guess) 
300,000oz.		 04/26/2025
Cash Cost: $1,300 $1,300 09/22/2024
Extra Operating Cost: $600 $700 04/27/2025
Total: $1,900 $2,000 04/27/2025
Margin (Free Cash Flow): $721 (28%) $1,239 (38%)
G
R
A
D
E		 Underground (Avg): 3.00 g/t 3.00 g/t 09/22/2024
Open Pit (Avg): n/a 1.00 g/t 03/22/2024
Recovery Rate: (CG)  85.00% (CG)  85.00% 04/27/2025
F
U
T
U
R
E		 Proven & Probable: 6.00M 6.00M 09/22/2024
Annual Production: 400,000oz. 400,000oz. 09/22/2024
Cash Cost: $1,200 $1,300 04/26/2025
Extra Operating Cost: $550 $700 04/27/2025
SILVER 09/22/2024
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 09/22/2024
Measured & Indicated: n/a n/a 09/22/2024
Inferred: n/a n/a 09/22/2024
Reserves & Resources: n/a n/a never
P
L
A
U
S
I
B
L
E		 Proven & Probable: n/a n/a 09/22/2024
Measured & Indicated: n/a n/a 09/22/2024
Inferred: n/a n/a 09/22/2024
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 09/22/2024
Extra Operating Cost: n/a n/a 09/22/2024
Total: n/a n/a 09/22/2024
Margin (Free Cash Flow): n/a
G
R
A
D
E		 Underground (Avg): n/a n/a 09/22/2024
Open Pit (Avg): n/a n/a 09/20/2023
Recovery Rate: n/a n/a 09/22/2024
F
U
T
U
R
E		 Proven & Probable: n/a n/a 09/22/2024
Annual Production: n/a n/a 09/22/2024
Cash Cost: n/a n/a 09/22/2024
Extra Operating Cost: n/a n/a 09/22/2024

Property

Last Analysis Data  (09/22/2024)
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 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.
Exp Keyhole 100% show
Early Exploration.
Total Land Package Size (ha): 4,100  

Profitability (by resource)

Proven &
Probable		 09/22/2024
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): $1,839.57M $3,159.20M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,839.57M $3,159.20M n/a
Max Profit / Current MCap: 3.481 7.835 n/a
Max Profit Per Share (Gold): $3.70 $5.88 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $3.70 $5.88 n/a
Total Free Profit Per Share: $2.26 $4.83 n/a
FD MCap / Gold Eq.: $207.25 $158.13 n/a
FD MCap / Silver Eq.: $2.46 $1.59 n/a
FD MCap / Per Metal
as % Spot Price:		 7.91% 4.88% n/a
Measured &
Indicated		 09/22/2024
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): $2,624.45M $4,507.12M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $2,624.45M $4,507.12M n/a
Max Profit / Current MCap: 4.966 11.178 n/a
Max Profit Per Share (Gold): $5.27 $8.39 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $5.27 $8.39 n/a
Total Free Profit Per Share: $3.83 $7.34 n/a
FD MCap / Gold Eq.: $145.27 $110.84 n/a
FD MCap / Silver Eq.: $1.73 $1.11 n/a
FD MCap / Per Metal
as % Spot Price:		 5.54% 3.42% n/a

Reserves &
Resources		 09/22/2024
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): $3,298.96M $5,665.49M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,298.96M $5,665.49M n/a
Max Profit / Current MCap: 6.242 14.050 n/a
Max Profit Per Share (Gold): $6.63 $10.55 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $6.63 $10.55 n/a
Total Free Profit Per Share: $5.19 $9.50 n/a
FD MCap / Gold Eq.: $115.57 $88.18 n/a
FD MCap / Silver Eq.: $1.37 $0.89 n/a
FD MCap / Per Metal
as % Spot Price:		 4.41% 2.72% n/a

Future Valuation (Cash Flow & Totals)

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