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Asante Gold Corp could be a five-bagger, research firm says

Asante Gold could be worth as much as five times its current value, according to research firmFundamental Research Corp.

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There's gold in them thar shares

Asante Gold Corp (CNSX:ASE) could be worth as much as five times its current value, according to equity research firm Fundamental Research Corp.

The junior Canadian gold royalty company has an option to acquire 100% of the Kubi gold project as well as options on the Betanese and Fahiakoba concessions in Ghana.

Fundamental Research Corp notes the firm could earn a 100% interest in Kubi by offering 17mln in shares and a 2% royalty to current owner Goknet, as well as investing US$15mln in the project.

Closing of the agreement has been deferred subject to Asante raising the funding, with management working on preliminary mining permits and designs in the meantime.

The company has no operational revenue, and exploration activity is subject to the availability of funds raised through financings, of which there have been four since the end of 2015.

The company suggests Kubi could produce 30,000-40,000 ounces of gold per year, at six to eight grams per tonne.

On the assumption of an eight-year mine life, Fundamental Research Corp suggests the company could be worth C$0.60, five times more than its current C$0.12, and has placed a “speculative buy” rating on the stock.

Quick facts: Asante Gold Corp.

Price: 0.03 CAD

CSE:ASE
Market: CSE
Market Cap: $1.77 m
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Asante Gold's Douglas MacQuarrie talks through 'encouraging' Keyhole...

Douglas MacQuarrie, chief executive of Asante Gold Corp ( CVE:ASE, CNSX:ASE,) tells Proactive they've seen some encouraging results from first drilling at the Keyhole option property in the Asankrangwa gold belt in Ghana, which have prompted an expanded exploration program. The work...

on 29/4/17

2 min read