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Asanko Reports Record 2Q Gold Output, Receipts

Kitco News

(Kitco News) - Asanko Gold Inc. reported record gold output and receipts for the Asanko Gold Mine located in Ghana, West Africa, during the second quarter.

The mine is a 50-50 joint venture with Gold Fields Ltd (JSE, NYSE: GFI) and is managed and operated by Asanko.

The company said record proceeds totaled $85.6 million after record gold sales of 66,337 ounces at an average realized price of $1,290 per ounce. Record gold production was 62,067 ounces.

“Q2 2019 has been a very strong quarter with the Asanko Gold Mine setting new records in production, sales and revenue,” said Greg McCunn, chief executive officer.  “This is particularly impressive given we are in the final stages of waste mining the Cut 2 pushback at Nkran. The Cut 2 pushback will essentially be finished in Q3 2019, marking the end of our investment program, and will enable the mine to focus on cash generation.”

McCunn added that the company remains on track to achieve 2019 production guidance of 225,000 to 245,000 ounces.

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