Asanko cuts 2018 production guidance

Asanko Gold (TSX: AKG; NYSE-MKT: AKG) is not going to meet its 2018 production guidance at its mine in Ghana, the company stated on the back of a site visit to the West African operation. In an updated technical presentation posted on its website, the company noted on the thirteenth page of the 27-page document that production from the mine next year would come in at around the same level it expects to produce this year – or somewhere in the range of 205,000 oz. and 225,000 oz. of gold – rather than the 267,943 oz. of gold it had forecast earlier in its June feasibility study. Since Jan. 1 of this year until Nov. 9, the mine has produced 153,596 oz. of gold. Asanko also noted that “practically,” the deposit in its Nkran pit “is limited to 3 million tonne-per-year rates” and that “geotechnical redesign of oxide slopes have added waste strip ~ 4 million tonnes.” Continue reading at The Northern Miner.