AFRICA STORIES

Asanko Gold could delay Esaase: CIBC

Asanko Gold’s (CN:AKG) weak second-quarter results and downward guidance revision has already earned it the wrath of the market. Now CIBC World Markets is worried that the company’s troubles could delay development of the Esaase deposit in Ghana, which is key to a planned production increase.

Asanko gold plant in Ghana. Development of satellite Esaase deposit could be delayed

Asanko gold plant in Ghana. Development of satellite Esaase deposit could be delayed

Asanko’s shares have already fallen by 20% since reporting last week it would cut its guidance to 205,000-225,000 ounces at an all-in sustaining cost of US$920-960 per ounce, from the previous 230,000-240,000oz...

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