Asanko Gold Reports Decline In Profit
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(Kitco News) - Asanko Gold Inc. (TSX, NYSE MKT: AKG), which operates the Asanko Gold Mine in Ghana, West Africa, reports second-quarter net and adjusted income were both $1.2 million, although this was zero cents per share, compared to $7.8 million, or 4 cents, in the first quarter. Gold production was 46,017 ounces, down from 57,812 in the first quarter. Production, which began last year, fell due to a planned lower-grade section of the Nkran ore body as well as shutdowns for plant upgrades, the company explains. All-in sustaining costs decreased to $930 an ounce from $956 in the first quarter, mainly due to lower mining costs and sustaining capital, the company says. For 2017, production guidance has been revised to 205,000 to 225,000 ounces.