Asanko Gold releases third quarter production results

Asanko Gold released its third quarter production results for its mine in Ghana.

The results show that quarterly gold production was 49,293oz with gold sales of 50,241oz and generated revenue of $63.6m, which is reported to be on track to meet this year’s revised production guidance of 205,000oz-225,000oz.

The company noted that with the deployment of blast monitoring technology at Nkran production site, it was able to minimise ore losses and dilution.

At the company’s Akwasiso satellite deposit, mining operations delivered approximately 20,000tpm of oxide ore.

Site establishment at Dynamite Hill started during the third quarter in preparation of ore mining operations in the fourth quarter.

The company received some production setbacks in the third quarter due to the failure of three mill motors, which affected a total of 11 days of lost milling time.

Asanko Gold president and CEO Peter Breese said “Overall, our quarterly production performance for Q3 was very encouraging, with positive results in a number of key areas: reconciliations confirming the Nkran resource model, management of ore losses and dilution and the plant achieving milling rates in excess of 13,500t on a per day campaign basis.

Although July and August production were impacted by the three mill motor outages, which equated to in excess of 5,000oz of lost gold production, the quarter still produced a very respectable 49,293oz.