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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 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$424.22M which is a fall of roughly 20% over the last two months. As of 09/22/2024 they have ~C$54M debt and ~C$24.35M cash. They have 445M 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 $424.22M 09/22/2024
Total Assets: $684.85M $665.23M 09/22/2024
Total Liabilities: $676.75M $657.36M 09/22/2024
Current Assets: $121.64M $118.15M 09/22/2024
Current Liabilities: $566.17M $549.95M 09/22/2024
Total Debt: $56.03M $54.42M 09/22/2024
Cash: $25.06M $24.35M 09/22/2024
Enterprise Value: $559.44M $454.29M 05/24/1984
Cash Flow: $180.35M $191.40M never
Cash Flow Multiple: 2.93 2.22 never
Net Debt to
Cash Flow Ratio:		 0.17 0.16 never
Finance within 1 year: 09/22/2024
Misc 09/22/2024
Last
Analysis
Data
Current Data
Item Value Value Updated
Shares Outstanding: 445,384,986 445,384,986 09/22/2024
Shares (FD): 497,832,986 497,832,986 09/22/2024
Insider Ownership: n/a 35% 11/15/2024
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) 
250,000		 09/22/2024
Production (Silver Eq Oz.): (guess) 
21,052,040		 (guess) 
21,345,291		 09/22/2024
Initial CapEx (Outstanding): $60.00M
11.35% of MCap		 $60.00M
14.14% of MCap 		09/22/2024
Funding Option: n/a n/a 09/22/2024
Documentation: none PRODUCER 11/15/2024
Future MCap Modifier: 0.25
Producer: Quality
 0.25
Producer: Quality
 04/24/2023
Cash Flow Multiplier: 8 8 09/19/2023

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) 
250,000oz.		 09/22/2024
Cash Cost: $1,300 $1,300 09/22/2024
Extra Operating Cost: $600 $600 09/22/2024
Total: $1,900 $1,900 09/22/2024
Margin (Free Cash Flow): $721 (28%) $766 (29%)
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% 11/15/2024
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 $1,200 09/22/2024
Extra Operating Cost: $550 $550 09/22/2024
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 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		 09/22/2024
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 $1,952.28M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $1,839.57M $1,952.28M n/a
Max Profit / Current MCap: 3.481 4.602 n/a
Max Profit Per Share (Gold): $3.70 $3.92 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $3.70 $3.92 n/a
Total Free Profit Per Share: $2.26 $2.73 n/a
FD MCap / Gold Eq.: $207.25 $166.36 n/a
FD MCap / Silver Eq.: $2.46 $1.95 n/a
FD MCap / Per Metal
as % Spot Price:		 7.91% 6.24% 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 $2,785.25M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $2,624.45M $2,785.25M n/a
Max Profit / Current MCap: 4.966 6.566 n/a
Max Profit Per Share (Gold): $5.27 $5.59 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $5.27 $5.59 n/a
Total Free Profit Per Share: $3.83 $4.40 n/a
FD MCap / Gold Eq.: $145.27 $116.61 n/a
FD MCap / Silver Eq.: $1.73 $1.37 n/a
FD MCap / Per Metal
as % Spot Price:		 5.54% 4.37% 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 $3,501.09M n/a
Maximum Profit (Silver): n/a n/a n/a
Total Maximum Profit: $3,298.96M $3,501.09M n/a
Max Profit / Current MCap: 6.242 8.253 n/a
Max Profit Per Share (Gold): $6.63 $7.03 n/a
Max Profit Per Share (Silver): n/a n/a n/a
Total Max Profit Per Share: $6.63 $7.03 n/a
Total Free Profit Per Share: $5.19 $5.84 n/a
FD MCap / Gold Eq.: $115.57 $92.77 n/a
FD MCap / Silver Eq.: $1.37 $1.09 n/a
FD MCap / Per Metal
as % Spot Price:		 4.41% 3.48% n/a

Future Valuation (Cash Flow & Totals)

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