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Asanko Gold Inc. (AKG) is a gold mining and exploration company listed on the Toronto Stock Exchange (TSE) and the New York Stock Exchange (NYSE American). The company is based in Vancouver, Canada, and has operations in Ghana, West Africa.
As of February 2023, Asanko Gold has a market capitalization of approximately USD $250 million and an enterprise value of around USD $400 million. The company's stock has been listed on the NYSE American since 2015, following a merger between Asanko Gold and PMI Gold Corporation.
The company's primary asset is the Asanko Gold Mine (AGM), which is a large-scale, multi-pit gold mine located in the Ashanti Region of Ghana. The mine is a joint venture between Asanko Gold (45.1%) and Gold Fields Limited (54.9%), with Asanko Gold acting as the operator.
Asanko Gold reported strong financial results for 2022, with total revenue of $259.3 million, up from $244.0 million in 2021. The company's adjusted EBITDA was $125.5 million, representing a significant increase from $106.5 million in the previous year.
Asanko Gold's earnings per share (EPS) for the full year 2022 was $0.07, compared to a loss per share of $0.11 in 2021. The company's net income for the year was $11.8 million, up from a net loss of $14.8 million in 2021.
The company's balance sheet remains strong, with approximately $40 million in cash and cash equivalents as of December 31, 2022. The company had total debt of $195 million at the end of the year.
In terms of growth, Asanko Gold is well-positioned to continue generating strong cash flows from the AGM. The company is also pursuing several exploration projects, including the Nkran and Esaase projects, which have the potential to add significant value to the company's portfolio.
Asanko Gold is led by a experienced management team, including CEO and President, Greg McCunn, who has over 25 years of experience in the mining industry. The company is committed to sustainable mining practices and maintaining strong relationships with local communities and stakeholders.
In summary, Asanko Gold is a well-established gold mining company with a strong balance sheet, positive financial performance, and significant growth potential. The company's focus on responsible mining and community engagement is an added bonus for investors looking for long-term value in the mining sector.