Asanko Gold further strengthens balance sheet
ASANKO GOLD INC (AKG)
NASDAQ:AMEX Investor Relations:
asanko.com/investors/presentations/default.aspx
Company Research
Source: PR Newswire
(All dollar amounts are United States dollars unless otherwise stated) VANCOUVER, Dec. 19, 2019 /PRNewswire/ - Asanko Gold Inc. ("Asanko" or the "Company") (TSX, NYSE American: AKG) is pleased to announce that it has received the final $10 million payment from Gold Fields Limited ("Gold Fields") pursuant to the Joint Venture Agreement which was concluded on July 31, 2018 whereby Asanko and Gold Fields became 50:50 joint venture partners of the Asanko Gold Mine ("AGM"), located in Ghana, West Africa, which is operated by Asanko. This $10 million payment completes the receipt by Asanko of the gross proceeds of $185 million associated with the 50:50 Joint Venture Agreement.In addition, with the significant capital expenditure program completed at the AGM and the operations continuing to generate positive free cashflow, the AGM has commenced returning invested capital to the joint venture partners. The distribution in Q4 amounted to a total of $20 million with $10 million paid to Asanko
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