Asante Gold Receives BUY Rating and Fair Value Estimate of $0.60 Per Share.

A recent report by Fundamental Research Corp. highlighting Asante Gold Corporation (CSE:ASE) and the Kubi Gold Mine in the Obuasi Mining Camp of Ghana, West Africa.
As quoted in the report:

Investment Highlights:

• Asante Gold Corporation (“Asante”, “company”, “ASE”) is focused on advancing the Kubi gold project to production. The project is located in the highly prolific Ashanti Gold Belt in south Ghana, Africa.
• Ghana is the second largest gold producer, and has one of the best jurisdictions for mining in Africa. The Kubi project is located approximately 25 km south of AngloGold Ashanti’s Obuasi mine (34 Moz resource estimate), and approximately 18 km north east of Perseus Mining’s Edikan gold mine (7 Moz resource estimate).
• Asante has a strong management team. CEO Douglas MacQuarrie has been operating in Ghana since 1993, and has a track record of developing over 6 Moz of resources. He was the CEO of PMI Gold, which was acquired by Asanko Gold (TSX: AKG) in 2014. Obuasi’s ex Mine Manager is currently a Director and Vice President Production & Development of Asante.
• Based on a 2 g/t cut-off, Kubi has a measured and indicated resource of 233 Koz (5.5 gpt) and inferred resource of 115 Koz (5.31 gpt). The resource is open to expansion at depth.
• Subject to financing, management is planning to take Kubi into production with a low CAPEX of US$20 million within a 12 month timeline. Management estimates the project to produce 30,000 to 40,000 oz Au per year (500 – 650 tpd @ 6 to 8 g/t Au) in the initial years.
• Gold prices are up by 20% YTD and has been one of the best performing commodities this year. We are initiating coverage on Asante with a BUY rating and a fair value estimate of $0.60 per share.

We are initiating coverage on Asante Gold with a BUY rating and fair value estimate of $0.60 per share.