Asanko Gold Strengthens Balance Sheet
ASANKO GOLD INC (AKG)
NASDAQ:AMEX Investor Relations:
asanko.com/investors/presentations/default.aspx
Company Research
Source: GlobeNewswire
VANCOUVER, British Columbia, Sept. 05, 2019 (GLOBE NEWSWIRE) -- Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE American: AKG) is pleased to announce that it has received $10 million from its joint venture partner Gold Fields Limited (“Gold Fields”). Asanko and Gold Fields completed a Joint Venture Agreement on July 31, 2018 whereby they became 50:50 joint venture partners of the Asanko Gold Mine (“AGM”), located in Ghana, West Africa, which is operated by Asanko. Part of that agreement included a $20 million cash payment that was contingent on an Esaase development milestone at the AGM. Following substantial achievement of that milestone in August 2019, Asanko has now received $10 million with the remaining $10 million to be paid on or before December 31, 2019. In addition, the Company is in the process of finalizing credit agreement documentation on behalf of the Asanko Gold Mine Joint Venture with Rand Merchant Bank (“RMB”) for a new revolving credit facility (the “
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