Opinions
Michael Giordano
Asanko Gold Inc
AKG-T
BUY
May 17, 2012
This shows how depressed the gold equities have gotten. Thinks ultimately this company will get taken out. As company keeps advancing the mine to production it will be more attractive. A reasonable price would be 50% higher than where the stock is now.
$3.000
Stock price when the opinion was issued
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COMMENT
Big believer in the story. Have a ton of cash. Recently acquired PMI Gold Corp, which has a property about 10 km away from their Asankrangwa project in Ghana. One of the nice things is that they are capitalized so they will be able to build their project. The asset they bought close by is in such close proximity that they could actually process the ore from that deposit at the same plant. This gives some economies of scale of putting 2 companies together. A couple of years ago, the management team bought into the company with about $20 million of their own personal money. Cheap.
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