Upcoming AWS Coverage on Golden Star Resources Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 25, 2017 / Active Wall St. blog coverage looks at the headline from Asanko Gold Inc. (NYSE: AKG) as the Company announced on May 23, 2017, that the Ghanaian Regulatory Authorities had given their approval to start mining at its Ghana, West Africa based Akwasiso deposit, which is a part of the Asanko Gold Mine (AGM). The Company plans to fast track the mining at this location and start mining of the ore from June 2017. This is ahead of AKG's plans to start mining at the Dynamite Hill location, which had been previously postponed to Q1 2018. Register with us now for your free membership and blog access at:

http://www.activewallst.com/register/

One of Asanko Gold's competitors within the Gold space, Golden Star Resources Ltd (NYSE MKT: GSS), reported on May 03, 2017, its financial and operational results for Q1 ending March 31, 2017. AWS will be initiating a research report on Golden Star Resources in the coming days.

Today, AWS is promoting its blog coverage on AKG; touching on GSS. Get all of our free blog coverage and more by clicking on the link below:

http://www.activewallst.com/register/

On top of approving mining start, the Ghanaian Environmental Protection Agency has issued the Environmental Permits for mining at AKG's other satellite deposits - Dynamite Hill, Nkran Extension, and Adubiaso Extension. This is the final permit that the company required as part of the regulatory process and now it can prepare to start mining operations at these locations.

Commenting on the change in plans, Peter Breese, President and CEO said:

"With the successful in-fill drill program completed and timely approval from the regulatory authorities, it made perfect sense to accelerate Akwasiso ahead of Dynamite Hill given its proximity to the plant, lower capital costs and that it is a larger and higher grade deposit than Dynamite Hill. The local mining contractor has already mobilized to site with road construction and site preparation at an advanced stage. First ore from Akwasiso is due in June 2017 and we expect the mining and processing costs of this ore to be considerably cheaper than the current hard rock operations at Nkran."

The Mining Plan at Akwasiso

The plan is to focus on the mining of oxide ore at the start which will supplement the ore feed to the existing processing facility as the volumetric upgrades come online as part of the Project 5 Million ("P5M") upgrade to 5Mtpa. As a part of the company's CSR initiative, a local Ghanaian mining contractor has been given the contract to start with the road and site preparations. Both these activities are already being implemented. The first ore is expected to be sent for processing at the plant in June 2017.

The mining at Dynamite Hill will now start in Q1 2018, which was the period originally planned for initiating mining at Akwasiso.

The Company plans to publish the Expansion Definitive Feasibility Study on June 05, 2017. The study report will contain the complete details about the mining rates, grades, and strip ratio for Akwasiso as part of the updated life of mine plan.

Rationale behind the decision to fast track mining at Akwasiso

The timely receipt of approvals from the Ghanaian Regulatory Authorities enabled AKG to fast track mining at Akwasiso. These approvals were given after AKG completed an in-fill drill program which increased Measured Reserves by 62% to show that the Akwasiso site has 214,500 contained ounces of gold.

The Akwasiso deposit is located just three kilometers in the north east from the Company's processing facility, which will lower the transport costs and site establishment costs.

Akwasiso is the largest satellite deposit of AKG and has a higher grade than that of Dynamite Hill; giving the site a greater mining flexibility.

Since the Akwasiso deposit is at surface, it requires minimal pre-strip or development work. The deposit has high oxide volumes which can be mined and processed at lower costs than AKG's Nkran operations.

AKG expects the benefits of Akwasiso to be realized in H2 2017. AKG is well ahead in schedule for the volumetric upgrades of the processing facility to process the Akwasiso's oxide material.

Stock Performance

At the close of trading session on Wednesday, May 24, 2017, Asanko Gold's stock price tumbled 6.07% to end the day at $2.01. A total volume of 5.47 million shares were exchanged during the session, which was above the 3-month average volume of 2.14 million shares. The stock currently has a market cap of $418.94 million.

Active Wall Street:

Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@activewallst.com

Phone number: 1-858-257-3144

Office Address: 3rd floor, 207 Regent Street, London, W1B 3HH, United Kingdom

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institut

SOURCE: Active Wall Street