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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 ~$912.51M which is a rise of roughly 5% over the last two weeks. As of 09/12/2025 they have ~$400M debt and ~$5M cash. They have 713M shares outstanding and trade on the Canadian Securities Exchange and the over-the-counter markets.

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General Details

Financial 09/07/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
MCap (FD): $873.21M $912.51M 09/12/2025 $39.30M
MCap (OS): $827.12M $866.34M 09/12/2025 $39.22M
Total Assets: $722.00M $722.00M 09/07/2025 $0.00M
Total Liabilities: $707.00M $707.00M 09/07/2025 $0.00M
Current Assets: $115.00M $115.00M 09/07/2025 $0.00M
Current Liabilities: $601.00M $601.00M 09/07/2025 $0.00M
Total Debt: $195.00M $400.00M 09/12/2025 $205.00M
Cash: $11.00M $5.00M 09/12/2025 $-6.00M
Debt (Net): $184.00M $395.00M $211.00M
Enterprise Value: $1,057.21M $1,307.51M 06/08/2011 $250.30M
Cash Flow: $220.48M $474.87M never $254.40M
Cash Flow Multiple: 3.96 1.92 never -2.04
Net Debt to
Cash Flow Ratio:		 0.83 0.83 never 0.00
Finance within 1 year: 09/07/2025 n/a
Misc 09/07/2025
Last
Analysis
Data
Current Data
Change
Item Value Value Updated Value
Shares Outstanding: 664,000,000 713,000,000 09/12/2025 49,000,000
Shares (FD): 701,000,000 751,000,000 09/12/2025 50,000,000
Insider Ownership: 35% 35% 09/12/2025 n/a
Dividend (Annual): n/a n/a 09/12/2025 n/a
Company Type: Mostly Gold Mostly Gold never n/a
Group: Producer Producer never n/a
Production ETA: n/a 06/01/2022 09/07/2025 n/a
Production (Gold Eq Oz.): (guess) 
300,000		 (guess) 
400,000		 09/12/2025 100,000
Production (Silver Eq Oz.): (guess) 
26,450,467		 (guess) 
34,830,548		 09/12/2025 8,380,081
Development Phase: Producer (Single Mine) Producer (Single Mine) 09/07/2025 n/a
Optionality Play: none No
F
U
T
U
R
E		 % of Spot: 25
Producer: Quality
 25
Producer: Quality
 09/07/2025 0
Cash Flow Multiple: 10 12 09/12/2025 2.00

Resource Data

GOLD 09/07/2025
Last Analysis
Data
Current Data
Change
Item Value Value Updated Value
O
U
N
C
E
S		 T
O
T
A
L
 Proven & Probable: 3.00M 3.00M 09/07/2025 0.00M
Measured & Indicated: 4.60M 4.60M 09/07/2025 0.00M
Inferred: 2.20M 2.20M 09/07/2025 0.00M
Reserves & Resources: 6.80M 6.80M never 0.00M
P
L
A
U
S
I
B
L
E		 Proven & Probable: 2.55M 2.55M 09/07/2025 0.00M
Measured & Indicated: 3.64M 3.64M 09/07/2025 0.00M
Inferred: 0.94M 0.94M 09/07/2025 0.00M
Reserves & Resources: 4.57M 4.57M never 0.00M
C
U
R
R
E
N
T		 Annual Production: (guess) 
300,000oz.		 (guess) 
400,000oz.		 09/12/2025 100,000oz.
Cash Cost: $2,100 $1,700 09/12/2025 $-400.00
Extra Operating Cost: $750 $750 09/07/2025 $0.00
Total: $2,850 $2,450 09/12/2025 $-400.00
Margin (Free Cash Flow): $735 (21%) $1,187 (33%) $452.26
MCap / Production (AuEq): $2,910.70 $2,281.28 $-629.42
EV / Production (AuEq): $3,524.03 $3,268.78 $-255.26
G
R
A
D
E		 Underground (Avg): 3.00 g/t 3.00 g/t 09/07/2025 n/a
Open Pit (Avg): n/a 1.00 g/t 09/07/2025 1.00 g/t
Recovery Rate: (CG)  85.00% (CG)  85.00% 09/12/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: 6.00M 6.00M 09/07/2025 0.00M
Annual Production: 400,000oz. 500,000oz. 09/12/2025 100,000oz.
Cash Cost: $1,450 $1,600 09/12/2025 $150
Extra Operating Cost: $750 $750 09/07/2025 $0
SILVER 09/07/2025
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 09/07/2025 0.00M
Measured & Indicated: n/a n/a 09/07/2025 0.00M
Inferred: n/a n/a 09/07/2025 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 09/07/2025 0.00M
Measured & Indicated: n/a n/a 09/07/2025 0.00M
Inferred: n/a n/a 09/07/2025 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 09/07/2025 $0.00
Extra Operating Cost: n/a n/a 09/07/2025 $0.00
Total: n/a n/a 09/07/2025 $0.00
Margin (Free Cash Flow): n/a $0.00
MCap / Production (AgEq): $33.01 $26.20 $-6.81
EV / Production (AgEq): $39.97 $37.54 $-2.43
G
R
A
D
E		 Underground (Avg): n/a n/a 09/07/2025 n/a
Open Pit (Avg): n/a n/a 09/07/2025 n/a
Recovery Rate: n/a n/a 09/07/2025 0.00%
F
U
T
U
R
E		 Proven & Probable: n/a n/a 09/07/2025 0.00M
Annual Production: n/a n/a 09/07/2025 n/a
Cash Cost: n/a n/a 09/07/2025 n/a
Extra Operating Cost: n/a n/a 09/07/2025 n/a

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
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 -3.28M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 2.55M 2.55M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -2.78M
Maximum Profit (Gold): $1,874.05M $3,027.31M n/a $1,153.26M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $1,874.05M $3,027.31M n/a $1,153.26M
Max Profit / Current MCap: 2.146 3.318 n/a 1.171
Max Profit Per Share (Gold): $2.67 $4.03 n/a $1.36
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $2.67 $4.03 n/a $1.36
Total Free Profit Per Share: $0.95 $2.36 n/a $1.40
FD MCap / Gold Eq.: $342.44 $357.85 n/a $15.41
FD MCap / Silver Eq.: $3.88 $4.11 n/a $0.23
FD MCap / Per Metal
as % Spot Price:		 9.55% 9.84% n/a 0.29%
EV / Gold Eq.: $414.59 $512.75 n/a $98.16
EV / Silver Eq.: $4.70 $5.89 n/a $1.19
EV / Per Metal
as % Spot Price:		 11.56% 14.10% n/a 2.53%
Measured &
Indicated		 09/07/2025
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.): 4.60M 4.60M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -5.02M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 3.64M 3.64M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -3.97M
Maximum Profit (Gold): $2,673.64M $4,318.96M n/a $1,645.32M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $2,673.64M $4,318.96M n/a $1,645.32M
Max Profit / Current MCap: 3.062 4.733 n/a 1.671
Max Profit Per Share (Gold): $3.81 $5.75 n/a $1.94
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $3.81 $5.75 n/a $1.94
Total Free Profit Per Share: $2.09 $4.08 n/a $1.98
FD MCap / Gold Eq.: $240.02 $250.83 n/a $10.80
FD MCap / Silver Eq.: $2.72 $2.88 n/a $0.16
FD MCap / Per Metal
as % Spot Price:		 6.70% 6.90% n/a 0.20%
EV / Gold Eq.: $290.60 $359.40 n/a $68.80
EV / Silver Eq.: $3.30 $4.13 n/a $0.83
EV / Per Metal
as % Spot Price:		 8.11% 9.88% n/a 1.78%

Reserves &
Resources		 09/07/2025
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.): 6.80M 6.80M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a -7.42M
P

L

A

U

S

I

B

L

E		 Gold Eq. Oz.: 4.57M 4.57M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a -4.99M
Maximum Profit (Gold): $3,360.79M $5,428.97M n/a $2,068.18M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $3,360.79M $5,428.97M n/a $2,068.18M
Max Profit / Current MCap: 3.849 5.949 n/a 2.101
Max Profit Per Share (Gold): $4.79 $7.23 n/a $2.43
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $4.79 $7.23 n/a $2.43
Total Free Profit Per Share: $3.07 $5.55 n/a $2.48
FD MCap / Gold Eq.: $190.95 $199.54 n/a $8.59
FD MCap / Silver Eq.: $2.17 $2.29 n/a $0.13
FD MCap / Per Metal
as % Spot Price:		 5.33% 5.49% n/a 0.16%
EV / Gold Eq.: $231.19 $285.92 n/a $54.73
EV / Silver Eq.: $2.62 $3.28 n/a $0.66
EV / Per Metal
as % Spot Price:		 6.45% 7.86% n/a 1.41%

Future Valuation (Cash Flow & Totals)

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