Asante Gold Corporation (C:ASE)
Business Focus: Gold Mining
| Sector: Basic Materials | Industry: Gold |
| Company Contact | |
| Address: | 615 - 800 West Pender Street, Null VANCOUVER BC V6C 2V6 |
| Tel: | N/A |
| Website: | https://asantegold.com |
| IR: | See website |
| Key People | ||
| David Harold Anthony President, Chief Executive Officer, Director | David Wiens Chief Financial Officer | Frederick Attakumah Executive Vice President and Country Director |
| Adriano Sobreira Vice President - Operations | Bashir Akwasi Ahmed Vice President - Production, Development, Director | Eben Swanepoel Vice President, Technical Services | Malik Easah Executive Director |
| Business Overview |
| Asante Gold Corporation is a Canada-based gold exploration and development company with a portfolio of projects and mines in Ghana. The Company operates the Bibiani and Chirano Gold Mines. Its mines and projects are located in the Bibiani and Ashanti Gold Belts. The Company holds a 90% interest to the Bibiani gold mine situated in the western region of Ghana. The Bibiani deposit is hosted with meta-sediments of the Kumasi Afema basin, on the eastern margin of the Bibiani-Sefwi Belt. Chirano is an operating open-pit and underground mining operation located in southwestern Ghana. The Chirano mine comprises the Akwaaba, Suraw, Akoti South, Akoti North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao open pits and the Akwaaba and Paboase underground mines. Its other assets include Kubi, Fahiakoba, Betenase, Keyhole Gold Project and Ashanti ll Project. Kubi Gold mines is located in Ghana, West Africa. Fahiakoba Concession is in the Ashanti and Central Regions of Ghana. |
| Financial Overview |
| For the nine months ended 31 October 2023, Asante Gold Corp revenues increased from C$116.3M to C$398.6M. Net loss increased 69% to C$178.2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Finance charges increase from C$4.7M to C$14.6M (expense), Professional fees increase from C$846K to C$4.4M (expense). |
| Employees: | 1,373 as of Jan 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $634.78M as of Oct 31, 2023 |
| Annual revenue (TTM): | $557.09M as of Oct 31, 2023 |
| EBITDA (TTM): | -$50.37M as of Oct 31, 2023 |
| Net annual income (TTM): | -$250.03M as of Oct 31, 2023 |
| Free cash flow (TTM): | $139.18M as of Oct 31, 2023 |
| Net Debt Last Fiscal Year: | $14.55M as of Oct 31, 2023 |
| Shares outstanding: | 445,384,986 as of Apr 8, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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