Loading ...TORONTO (minigweekly.com) – The board of West Africa-focused project developer Asanko Gold on Thursday gave construction of the $295-million first phase of its flagship project in Ghana the thumbs up to start construction during the third quarter.
The TSX- and NYSE-listed firm said Phase 1 would be based in PMI Gold Corp’s previous plans for the Obotan gold project, which Asanko acquired during a $173-million takeover in February.
While work is expected to start in seriousness during the third quarter, Asanko will forge ahead with work to complete a National Instrument 43-101-compliant technical report, including a definitive project plan with an updated resource estimate, by the last quarter of the year.
Early works at the project site started in April, in preparation for the positive investment decision. Project construction will start shortly, with the company expecting to turn the first sods within the next month.
Initial gold production is targeted for the first quarter of 2016 and the company expects to achieve steady-state output by the second quarter of that year.
cont. at http://www.miningweekly.com/article/asanko-gives-flagship-gana-project-the-green-light-2014-07-17