asanko gold mine...nov 18, 2016 · provide recipients with access to any additional information or...
TRANSCRIPT
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ASANKO GOLD MINE:GROWTH PLAN TO DELIVER LOW COST OUNCES
Site Visit Technical Presentations
18November2016
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This document has been prepared by Asanko Gold Inc. (the “Company”) solely for informationalpurposes. This presentation is the sole responsibility of the company. Information containedherein does not purport to be complete and is subject to certain qualifications and assumptionsand should not be relied upon for the purposes of making an investment in the securities orentering into any transaction. The information and opinions contained in the presentation areprovided as at the date of this presentation and are subject to change without notice and, infurnishing the presentation, the company does not undertake or agree to any obligation toprovide recipients with access to any additional information or to update or correct thepresentation.
No securities commission or similar regulatory authority has passed on the merits of anysecurities referred to in the presentation, nor has it passed on or reviewed the presentation.Cautionary note to United States investors - the information contained in the presentation usesterms that comply with reporting standards in Canada and certain estimates are made inaccordance with National Instrument 43-101 (“NI 43-101”) - standards for disclosure for mineralprojects. The presentation uses the terms “other resources”, “measured”, “indicated” and“inferred” resources. United States investors are advised that, while such terms are recognizedand required by Canadian securities laws, the SEC does not recognize them. Under United Statesstandards, mineralization may not be classified as “ore” or a “reserve” unless the determinationhas been made that the mineralization could be economically and legally produced or extractedat the time the reserve determination is made. United States investors are cautioned not toassume that all or any part of measured or indicated resources will ever be converted intoreserves. Further, “inferred resources” have a great amount of uncertainty as to their existenceand as to whether they can be mined legally or economically. It cannot be assumed that all orany part of the “inferred resources” will ever be upgraded to a higher category. Therefore,United States investors are also cautioned not to assume that all or any part of the inferredresources exist, or that they can be mined legally or economically.
Under Canadian rules, estimates of “inferred resources” may not form the basisof feasibility or pre-feasibility studies except in limited cases. Disclosure of“contained ounces” is permitted disclosure under Canadian regulations;however, the Securities Exchange Commission (SEC) normally only permitsissuers to report mineralization that does not constitute “reserves” as in placetonnage and grade without reference to unit measures. Accordingly,information concerning descriptions of mineralization, mineral resources andmineral reserves contained in the presentation, may not be comparable toinformation made public by United States companies subject to the reportingand disclosure requirements of the SEC.
The presentation may contain “forward looking statements” within the meaningof the United States private securities litigation reform act of 1995 and “forwardlooking information” with the meaning of applicable Canadian securitieslegislation concerning, among other things, the size and the growth of thecompany’s mineral resources and the timing of further exploration anddevelopment of the company’s projects. There can be no assurance that theplans, intentions or expectations upon which these forward looking statementsand information are based will occur. “Forward looking statements” and“forward looking information” are subject to a variety of risks, uncertainties andassumptions, including those that are discussed in the company’s annualinformation form. Some of the factors which could affect future results andcould cause results to differ materially from those expressed in the forwardlooking statements and information contained herein include: market prices,exploitation and exploration successes, continued availability of capital andfinancing and general economic, market, business or governmental conditions.Forward looking statements and information are based on the beliefs, estimatesand opinions of management at the date the statements are made and aresubject to change without notice. The company does not undertake to updateforward looking statements or information if management believes, estimatesforward or opinions or other circumstances should change. The company alsocautions potential investors that mineral resources that are not materialreserves do not have demonstrated economic viability.
FORWARD LOOKING INFORMATION
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WELCOME
JOE ZVAIPAMANAGING DIRECTOR, GHANA
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EXPERIENCED MANAGEMENT TEAM…
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…. WITH PROVEN TRACK RECORD
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SITE VISIT TIMETABLE
Time Presentation Presenter
8.45am SafetyInduction CharlesAmoah,GM
9.00am FormalWelcome& Introduction JoeZvaipa,ManagingDirectorGhana
9.10 am SHE&Phase1Update Hugo Truter,ChiefOperatingOfficer- AGM
9.20am Phase2 Expansion Russell Bradford,ProjectDirector
10.00am 2017Outlook RobSlater,Executive:Mining
10.10am Geology&Exploration PhilBentley,Executive:Geology &Resources
10.30am Tea &Coffee(10mins)
10.45 am– 12.45pm Mine,PlantTour&CoreShed ReferBadgeLabelsforBus1&Bus2
1.00 pmLunch(30mins)
1.30pm CSR FredAttakumah,Executive: CorporateAffairs
1.45pm Final Q&A/Conclusion PeterBreese:President &CEO
2.00pm Tea &CoffeeDepartforAirstrip&OtherMineTours
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PHASE 1 UPDATE
HUGOTRUTERCHIEFOPERATINGOFFICER- AGM
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SAFETY
• ExcellentsafetyrecordofZEROlosttimeinjuryontheconstructionofPhase1processingplant
• Site-specific,peoplebasedsafetyprogram– Fihankra – reinforcingourhighsafetystandards
• ContinuousobjectiveofZEROHARM
• ForPhase2
• ThekeyconstructionandsafetyteamfromDRAhavebeenretainedforPhase2
• ThepeoplebasedsafetysystemusedinPhase1willbeusedinPhase2forallcontractorsandemployees
• ELB,theconveyorcontractor,havebeenintegratedintotheAsanko safetysystemthroughengagement
Incident Type Rolling12MonthsOct - Oct
Fatality 0
Lost Time Injury 1
Man-hours Worked 5,472,109
TIFR (per million man hours) 6.03
LTIFR(permillionman hours) 0.18
Last LTI Date 8March 2016
LTI Free Man-hours 2,964,816
LTI Free Days Worked 237
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KEEPING UP WITH THE HUNGRY MILLS
• Millsnowrunningat+10,000tpd,20%abovedesign
• CrushingcircuitdebottleneckedinQ32016withadditionofmobilecrusher
• Capacityof10,000tpd,currentlyrunningat4,000tpdfor8hours
• Crushingto-70mm,optimizedtopebbleportsizeinSAGmill
• AdditionalupgradesinmaterialshandlingsectioninQ12017toincreaseavailabilityofprimarycrushingcircuit
NewlyInstalledMobileCrusherMaterialsHandlingSection
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PHASE 1: DELIVERING ABOVE EXPECTATIONS 3 QUARTERS SINCE FIRST GOLD
CULTUREVoluntaryBehaviour
STRUCTURE
PEOPLETASKProcesses Skills
Systems
STRATEGY
MeasurementandFeedback
OUTPUTS
INPUTS
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PHASE 2 EXPANSION
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GROWTH PLAN TO +470,000 OZ/YR
Asanko ProductionProfile
Phase1DPP:~190,000
Ø 2017productionof230,000-240,000ozØ Phase2Aapprovedandunderway;290,000- 300,000ozin2018
Ø AcceleratedPhase2Bexpansionwillachieve~470,000ozby2020Ø 2nd largestgoldmineinGhanaproducing15%oftheannualgoldproduction
Ø 7th largestgoldmineinAfrica
0
50
100
150
200
250
300
350
400
450
500
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
'000oz
Phase 1
Phase 2A
Phase 2B
Phase 1Optimization
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PHASE 2A SCOPE
Phase2A:
• Upgradeexistingplantcapacityfrom3.6Mtpato5Mtpa
• ConstructoverlandconveyorandestablishEsaase pit
• EnvironmentInvoicereceivedfromtheEPA,finalpermitexpectedshortly
• BoardapprovedandFEEDunderway
• CapitalcostestimateUS$125- 130m
• Fundedfrominternalcashflows
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PHASE 2B SCOPE
Phase2B:
• Doubleprocessingcapacityto10Mtpa,targeting±470,000ozproduction
• Scopechanged– replicate5MtpaCILplantinsteadofflotationplant
• IncreaseminingratesatEsaase to7Mtpa
• Significantexpansionofexistingtailingsstorage
• CapitalcostestimateUS$210-220m
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ESAASE MINERALIZATOIN
KEDD530
Fresh
Fresh
Oxide
Oxide
Fresh
KEDD303
PHASE 2
37% Oxides63% Fresh
3% Oxides97% Fresh
PHASE 1 Esaase InPitReserves(2014)
Ore Mt g/tgold M/oz
Oxides 21.90 1.40 0.99
Fresh 38.41 1.41 1.74
Total 60.31 1.41 2.73 15
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ESAASE OXIDE GEOLOGICAL STRUCTURE
Hydrothermalalteration
Goldmineralisationfoundinquartz-carbonateveins
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ESAASE MINING OPERATIONS
• Largedeposit(over3kmstrikelength)allowsminingflexibility
• Esaase development:
• Largepitwith2lobes• ROMPad• PrimaryandSecondaryCrusher• Mineinfrastructure
• Q12018:Fleetmobilisation
• H12018:Bulkearthworks&constructionofmineinfrastructure
• H22018:Oreminingplannedtocommence
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ESAASE PIT: PLANNED SEQUENCING
Phase2AMiningCommences
Phase2A– ±2MtpaOre/10MtpaTotalMaterialMined
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ESAASE PIT: PLANNED SEQUENCING
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ESAASE PIT: PLANNED SEQUENCING
Phase2B– 6.7MtpaOre/45MtpaTotal
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ESAASE PIT: PLANNED SEQUENCING
SouthPitBackfilled
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ESAASE PIT: PLANNED SEQUENCING
FinalPit
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SECTION OF ESAASE PIT SHOWING FINAL PIT DEPTH
EndofYear10June2028
Period CCM’s = 4.3Mm3
Total CCM’s = 166.9Mm3
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ESAASE CONTRACTOR MINING FLEET
Decription Phase2A Phase2B TotalUnits
PitLoadandHaul(PrimaryFleet)CAT6030 1 3 4CAT777D 14 22 36CAT6015 1 0 1
PitLoadandHaul(PitSupportFleet) 0CATD9Dozer 2 4 6CAT77035klWaterBowser 1 1 2CAT16HMotorGrader 1 1 2CAT992FEL 1 1 2
DrillingFleetSandvik1500Pantera 4 8 12TLB(Stemming) 1 1 2
ContractorMiningFleet
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PHASE 2A – UPGRADE EXISTING PLANT TO 5MTPA
• Upgradeexistingplantfrom3.6Mtpato5Mtpaduring2017
• Onlyrelativelyminorcapitalworksrequired:
• Increasingcapacityofmilldischargepumps
• Duplicatecyclonepack
• TwoadditionalKnelson gravitygoldconcentrators
• Additionalintensiveleachreactor
• Increasinggoldroomcapacity
• Increasingcapacityoftailingspumpsandtwintailingpipeline
• CommissioningscheduledforQ12018
• OrefeedtobesourcedfromsatellitepitsuntilEsaase conveyorready
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PHASE 2A LAYOUT
• Expandexistingplantto5Mtpa
• Transport±2MtpaoforefromEsaase viaconveyor
conveyorconnection
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PHASE 2A
ExtendthemilltowertoaccommodatenewKnelsons
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PHASE 2A – OVERLAND CONVEYOR
• 27kmlongoverlandconveyor
• 12mservitudemediumsecurityfencedbothsides
• Flatterrain
• 10Publicroadcrossings
• 27pedestriancrossings
• 2Haulroadcrossings
Esaase Tip
SaddleCrossing
ObotanStockpile
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CONVEYOR DESIGN OVERVIEW
• Designcapacityiscontrolledbyvariablespeeddriveupto1,200tph(morethansufficientforPhase2Aand2B)
• BeltData:– Beltlength 54,403m– BeltClass ST2400– BeltWidth 800mm
• InstalledPower:– Head: 3x700kW(master)– Tail: 1x700kW(slave)
• TotalIdlerSets:– Carry: 9,403– Return: 4,683
• Mass(tonnes)- Estimated– Structural 1,908– Mechanical 716– Belt 1,305
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ENVIRONMENTAL CONSIDERATIONS
Waterandroadcrossingsfullyenclosed
BeltTurnovers- Belt runsoncleansidetopreventspillage
Bunkersforspillagecollectionatheadandtail HDPEidlersforreducednoiseandfriction
DustSuppressionOnchutes Lowprofileroof
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PHASE 2B SCOPE - OVERVIEW
• Conveyortransports7MtpaofEsaase oretoObotan
• Additional5Mtpamilling&CILcircuit
• SignificantexpansionofTailingsStorageFacility
• Villagerelocation
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WHY THE CHANGE TO CIL?
• 2012/13Testwork byKeeganatALSinPerthresultedinthefollowingobservations/conclusions:• ProcessingofEsaase oxidesbyCILworkedwell• VirtuallynorecoverydifferencebetweenCILandflotationlife-of-mine• FlotationresultedinmaterialcostsavingscomparedtoCIL
• Flotationselectedaspreferredroutefor2015PFSbasedonexpected opex savings
Composite
Gravity-CILGravity-
Flotation-CIL
OriginalKeeganPFSP150um basedonPhaseIIIVariability
2012/13CILP75um basedonPhaseVComposites
2012/13FloatP75um based
onPhaseVComposites
Laterite 84.8% 92.8% 84.5%
Oxide 84.8% 92.9% 84.7%
Transitional 84.9% 93.7% 91.2%
Fresh 88.4% 91.5% 94.2%
RecoveryDiscount 1.6% 1.6% 1.09%
LOMRecovery 85.3% 90.5% 90.0%
ProcessCosts Flotation CIL
LoM $/t LOM$/tMilling $0.63 $0.50Reagents(Flotation) $1.20 -Reagents(CIL) $2.79 $5.14Reagents(Detox) $0.11 $3.10Reagents(Other) $0.18 $0.50Tailings $0.19 $0.19Power $3.88 $4.22Labour $0.62 $0.62Maintenance $0.44 $0.53Laboratory $0.15 $0.15Other $0.28 $0.40Total $10.47 $15.34
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2015/2016 TESTWORK – BASED ON PHASE 1 OPERATIONS
• 2015/16gravityandCILlaboratorytestwork doneaspartofongoingoptimizationonEsaaseore&blendswithNkranforupgradeofPhase1plant
• Achievedthefollowingrecoveries:
Float– 75um CIL– 106um
Oxide 84.7% 94.7%
Trans 91.2% 87.4%
Fresh 94.2% 94.1%
• BlendsofObotan freshandEsaase oxideachievedsimilargoldrecovery
• Cyanideconsumptionsachievedduringthetestwork rangedbetween0.5– 0.7kg/t,inlinewithcurrentoperatingconsumptions
• With2stagecrushingandthecurrentSAG/Ballconfiguration,comminutionmodellingshowsthat5MtpacanbeachievedforaP80 106um
• Basedonthelatestrecovery&operatingcostresults,thedecisionmadetobuild5MtpaCILplantforPhase2B
• TheopportunitytoreplicatethecurrentCILflowsheettocreateplantsynergyisnowanattractiveoption
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COST COMPARISON OF CIL VS FLOTATION
Phase1CILPlant#1
Phase2BFlotationPlant
Phase2BCILPlant#2
Total(variable) $/tmilled $10.84 $10.86 $9.74
Labour $/tmilled $1.04 $0.12 $0.12
Laboratory $/tmilled $0.03 $0.03 $0.03
Consumables $/tmilled $3.77 $5.25 $4.30
Power $/tmilled $4.96 $4.36 $4.12
Maintenance $/tmilled $0.63 $0.49 $0.56
Orerehandling $/tmilled $0.40 $0.49 $0.49
Tailingsmanagement $/tmilled $0.01 $0.00 $0.00
Mobilecrushing $/tmilled - $0.12 $0.12
Fixedcost $/tmilled $2.69 $1.51 $1.53
Totalcost $/tmilled $13.54 $12.37 $11.27
• CurrentestimateshowsCILlowercost
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ADDITIONAL BENEFITS OF 2ND CIL PLANT VS FLOAT
ü PeopleexperienceinGhanaisstronglyCILbased,asevidencedbyPhase1ramp-up
ü Frequentpowerfluctuationsandtripswillcauseinstabilityinaflotationplant
ü Buildinganidenticalplant(exceptmills)savesonengineeringdesign&capitalcostsrisks(asbuilt)
ü Samereagentsrequiredtherebyreducingholdingcosts
ü Duplicatingthecurrentflowsheetwillresultinagreatlysimplifiedoperation
ü Greatlyreducedinsurance&operatingsparesholdings
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PROCESSING PLANT LAYOUT Phase1plantlayoutdesignedtoaccommodatePhase2Expansion
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Mill
ProcessWaterDam
PreLeachThickener
LeachTanks O2Plant
LEACH
PHASE 2B CIL PLANT LAYOUT
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ASANKO PHASE 2 TSF DEVELOPMENT
• Phase1tailingsdamtobeusedforallphasesofoperationanddesignedtocaterfor120mtonnes
• TheTSFwilloperatewiththecurrentconfigurationforyears1to2ofoperation
• Tworaises(Stages2to3)willbeconstructedpriortotheexpansionoftheTSFbasin
• ThefollowinginitialworkswillbecompletedduringtheStage3raise(2018):
• InstallHDPElinerovertheStage3Eastembankmentdownstreamface.TheembankmentcrestwillbelinedduringtheStage4works.Thiswillensurecontinuityofthebasinlinersystem
• Fullbasinworks(includingsurfacepreparationandbasinlinerconstructionintheexpandedTSFbasin)willbecompletedduringStage3
• TailingswillbedepositedfromtheeasternextentsofthebasintofilltheexpandedTSFbasin
• TheTSFwillberaisedasasinglecellasrequiredduringtheoperation.TheStage6Eastembankmentwillbeabandonedandallowedtoovertop
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STAGE 2 – CURRENT
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STAGE 4 – PHASE 2B EXPANSION
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STAGE 13 (FINAL)
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PHASE 2 POWER REQUIREMENTS
• Existing161kVpowerlinefeedingPhase1issufficientforplantupgradeto5Mtpa
• Totaldemandincreasesby4MW,from16MWto20.5MW
• AspartofEsaase infrastructure,33kVoverheadpowerlinerequiredtosupplypowertotheconveyorandtheEsaase sitefromObotanalongtheconveyorservitude
• Existingemergencyback-upgeneratorscapableofsupplyingpowertostrategicdrivesineventofpoweroutage
Phase2A• Powerdemandincreasesfrom20.5MWto36MW
• Additional33MVAminesubstationandplant11kVsubstationrequired
• Inter-connectionofexisting11kVsubstationstoallowflexibilityofsupply
• InstallationofnewMotorControlCentres(MCCs)topowermotorsrequiredfortheplantexpansion
Phase2B
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SAFETY
• ExcellentsafetyrecordofZEROlosttimeinjuryontheconstructionofPhase1processingplant
• ThekeyconstructionandsafetyteamfromDRAhavebeenretainedforPhase2
• ThepeoplebasedsafetysystemusedinPhase1willbeusedinPhase2forallcontractorsandemployees
• ELB,theconveyorcontractor,havebeenintegratedintotheAsanko safetysystemthroughengagement
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PHASE 2: KEY MILESTONES
Complete Phase 2 DFS Q4 2016
Phase 2A
Overland Conveyor FEED and construction Q4 2016 – Q2 2018
CIL upgrade FEED and construction Q4 2016 – Q4 2017
CIL upgraded 5Mtpa plant ramp-up and commissioning Q1 2018
Commence construction of mining infrastructure at Esaase Q1 2018
Commence mining operations at Esaase Q2 2018
Phase 2A complete Q3 2018
Phase 2B
InvestmentDecision Q4 2017
AdditionalCIL5MtpaExpansionconstruction Q1 2018 – Q2 2019
TSF Expansion Q3 2018 – Q1 2019
Additional CIL 5Mtpa plant commissioning Q2 2019
Phase 2B complete Q3 2019
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2017 OUTLOOK
ROB SLATEREXECUTIVE: MINING
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STRONG OUTLOOK FOR 2017
• Targeting230,000-240,000ozwithAISCofUS$810-840/oz
• Twooresources:Nkran andDynamiteHill
• Nkran• Dualrampsystemfullyinstalled• FocusondroppingEasttocentre elevation• IntermediateWesternwallfocusinQ12017• CommenceWesternwallpushbackinQ22017
• DynamiteHill• Providesflexibilityandde-riskstheorefeedplan• 30,000tpmoredeliveryplan,withabilitytoincreaseto
100,000tpmasriskmitigation• OreminingscheduledtocommenceinH22017
• Nkran ExtandAdubiaso ExtnowplannedforlaterintherevisedLoM
• Akwasiso likelytocomeintoplayinlate2017and2018butawaitinginitialresource
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Asankrangwa Gold Belt
SIGNIFICANT GROWTH POTENTIAL
PHIL BENTLEYEXECUTIVE: GEOLOGY & RESOURCES
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STRATEGIC GROWTH OPPORTUNITIES
• Phase2Expansion
• Blindexploration:AnNkran lookalikenewdiscovery
• Continuedsatellitedepositexplorationandevaluation
• Acquisitionofneighbouring properties
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AKWASISO PLANNED DEVELOPMENT
• AcquiredinQ22016
• HistoricResolutedrillingofoxidesindicatesmineralresourceof>100,000oz
• Asanko hascompletedPhase1infillandconfirmatorydrillingprogram(~10,000mDD+RC)
• InitialMineralResourceEstimationdueQ42016
• MREwillprovidebasisforpreliminaryWhittlepitanalysis
• PlanistopermitAkwasiso inH22017,readyformininginH12018
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AKWASISO GEOLOGY – AN NKRAN LOOK ALIKE
• RecentlycompletedPhase1infill&confirmatorydrillingprogramhasprovidedcoreintersectionsvalidatinggeologyandstyleofmineralization
• Goldmineralizationisfocusedon3maindomains:
- awesternshearzonehostedinsandstonelithologies
- acentralshearzoneproximaltothesandstone– granitecontact
- agranitehosteddomainontheeast
PlanView+0.3g/tgradeshells
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AKWASISO BOREHOLE INTERSECTIONS
AKWASISOQ32016INTERSECTIONSHole_ID mFrom mTo Intm Aug/t mxg/t InterceptDescriptionAKDD16-002 258.00 272.00 14.00 1.71 24 [email protected]/tauAKPC16-002 194.00 198.00 4.00 4.95 20 [email protected]/tAu
AKPC16-004 17.00 31.00 14.00 1.93 27 [email protected]/tAuAKPC16-004 21.00 31.00 10.00 2.11 21 [email protected]/tAuAKPC16-004 149.00 203.00 54.00 3.85 208 [email protected]/tAu
AKDD16-005 65.00 68.00 3.00 6.92 21 [email protected]/tAuAKDD16-005 161.00 178.00 17.00 4.16 71 [email protected]/tAu
AKDD16-007 8.80 46.00 37.00 1.17 43 [email protected]/tAuAKDD16-007 60.00 84.00 24.00 1.23 30 [email protected]/tAu
AKDD16-011 105.00 118.00 13.00 2.44 32 [email protected]/tAuAKDD16-011 169.00 185.00 16.00 3.65 58 [email protected]/tAu
AKDD16-012 119.00 123.00 4.00 14.68 59 [email protected]/tAuAKDD16-012 169.00 200.00 31.00 0.98 30 [email protected]/tAuincl 169.00 175.00 6.00 2.99 18 [email protected]/tAu
AKDD16-013 5.80 13.30 7.50 5.67 42 [email protected]/tAuAKDD16-013 56.00 59.00 3.00 21.93 66 [email protected]/tAuAKDD16-013 69.00 81.00 12.00 4.66 56 [email protected]/tAu
AKDD16-026 225.00 232.00 7.00 5.59 39 [email protected]/tAuAKDD16-026 295.00 317.00 22.00 4.29 94 [email protected]/tAu
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INTEGRATION OF 2015 VTEM SURVEY WITH PROSPECTIVITY ANALYSIS
• Subsequentto2015VTEMsurvey,theregionalstructuralframeworkhasbeenfurtherrefined.Theoutcomeofthesurveywasover140followuptargetswhichwereprioritizedtoa“top20”
NKRAN
Prospectivity&VTEMTargets
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BLIND EXPLORATION: AN NKRAN LOOK ALIKE NEW DISCOVERY
• Asanko hasinitiatedaphaseofmoredetailedinterpretationoftheVTEMandmagneticdata;
• AdetailedstructuralinterpretationiscurrentlybeingundertakenbyKimCook(Perthstructuralgeologist);
• InversionstudiesoftheVTEMdataarealsounderway(Spectrem Air,RSA),enabling3Dmodellingofstructuraldiscontinuitiesaswellastargetsundercoverordownplungeofexistinggoldoccurrences;
• Theintegrationofthesestudiesisanticipatedtoadvancetheprioritizationforthedrilltargetingofdeeperseated(200-300mbelowsurface)“Nkran”or“Esaase”styleorebodies.
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ASANKRANGWA BELTINCREMENTAL MINERAL RESOURCES
• During2015Asanko instigatedareviewofalldrilledtargetsthathadnotbeenmodelled
• 12targetswereidentified,7havebeenmodelledduring2016,1inprogress.Ofthese,4targetshavebeendrillevaluatedand/orremodelled toaclassifiedresourcestatus
• TotalincrementalM&Iis±182,000oz
• Unclassifiedresourcescurrentlytotal±362,000oz
• Futurestrategicobjectivesinvolvecontinuedevaluationofsatellitedeposits
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ACQUISITON OF ADJACENT PROPERTIES
• During 2016 Asanko has progressed the analysis and acquisitionof adjacent properties that provide significant upside andcontinuity to the oxide and fresh exploration strategy
• Akwasiso acquisitionbrings+100,000ozintoplay
• Otherpropertieshavebeentargetedforacquisition
• SmallScaleMiningLicences southofNkran willbeinvestigated
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ASUMURA TARGET
• TheAsumura projectislocatedalongtheprolificgoldendowered westernboundaryoftheSefwi GreenstoneBelt,approximately65kmsouthofNewmont’s+30MozAhafo deposits.
• TheAhafo depositsappearinmultiplepitsstretchingalong70kmoftheKenyase thrust,whichmarksthewesternboundaryoftheSefwi greenstonebelt.
• TheKenyase thrustpassesdirectlythroughtheAsumura concessionputtingitinaprimelocationinanunderexploredportionoftheSefwi greenstonebelt.
• Asanko isplanningafurtherphaseofexplorationdrillingin2017subsequenttoreassessingexistinggeophysicaldata.
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EXTENDING LIFE OF MINE BEYOND PHASE 2
GoldProduction• Nkran• Esaase• Satelliteoxides• Newdiscoveries
PFSStudiesIndicatedResourceevaluation=>lowcostincrementaloxides
IntegratedGeology,GISandGeophysicsStudiesTargetgeneration&initialdrilltesting
AcquisitionorJV
AdvancedExploration
GenerativeExplorationBlindDiscovery+1Moz
Phase3? DevelopmentofNewDiscoveries
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OUR SOCIAL LICENCE TO OPERATE
FREDATTAKUMAHEXECUTIVE:CORPORATEAFFAIRS
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GUIDING PRINCIPLES FOR OUR STAKEHOLDER ENGAGEMENT
Engagingourstakeholdersinrespectfulandculturallysensitivepartnershipstoachievesharedvalueforall
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IMPRO
VED L
IVIN
G S
TA
ND
ARD
S
VOCATIO
NAL T
RA
ININ
GA
CC
ESS TO
WO
RK & FINANCE
ACCESS
TO
EDUCATIO
N
OPPORTUNITY
CYCLE
COMMUNITY
DELIVERING ON THE OPPORTUNITY CYCLE THROUGH PARTNERSHIPS…
Obotan CooperativeCreditUnion(OCCU)
Asanko-GIZVocationalSkillsDevelopmentProgram
&Asanko
ReadingGhanaProgram
Asanko HealthFacilitiesSupportProgram
…tostrengthenandenhanceoursociallicensetooperate
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ASANKO-CODE PARTNERSHIP
• Asanko &CODEarepartneringonReadingGhanaProgram,announcedonWorldLiteracyDay,8September2016
• 6-yearprogramforschoolswithintheAshantiRegion
• Formallaunchon5October2016atManso-Nkran villagewithacolorfulceremony&allstakeholdersinattendance
• Booksfortheestablishmentofschoollibrariesandteachingmaterialsweredonatedto10publicschools,wherethepilotphaseoftheprogramisbeingimplemented
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ASANKO-GIZ PARTNERSHIP
Asanko-GIZSkillsDevelopmentProgram
• 1st phasesuccessfultrained260youngpeoplefromObotan&Esaase communities
• Agreementsignedtoextendprogramforanother3years,from2016to2018
• 2nd phasewill:
• Trainover400youngpeopleinvocationalskills
• Establishcooperativesforgraduatesoftheprogram
• TransitionObotan &Esaase SkillsDevelopmentCentersintotheGhananationalstructures
Obotan CooperativeCreditUnion(OCCU)• Financialliteracyprogramtoimproveruralaccesstocredit
• Strongsupportanduptakebycommunitymembers• OCCUmembershiphasgrownfrom120membersinDec2015toover800membersbySept2016
• TotalassetshavegrowntooverGHS200,000(orUS$50,000)
0.0050,000.00100,000.00150,000.00200,000.00250,000.00
CumulativeContributionsandTotalAssetsProfile(GHS)
MONTHLYASSETS (GHS)
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ASANKO-PROJECT CURE PARTNERSHIP
• NeedsAssessmentexercisesuccessfullyconductedbyProjectCUREonall8medicalfacilitieswithinthemine’scatchmentarea.
• InteractionsheldwiththeAmansie WestDistrictDirectoratetovalidatefindingsoftheNeedsAssessmentandensuremedicalsuppliesandequipmentsubsequentlydonatedmakeapositiveandmeaningfulcontributiontohealthdeliveryinthearea
• Requiredmedicalsupplies&equipmentexpectedinH12017
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IN SUMMARY….
Asanko is:
• Utilizingitspresenceasacatalystforcommunitydevelopmentandinaddressingsocialchallenges
• Pursuingstrategicsocialinvestmentsthatbenefitourcommunitiesandareself-sustaining
• Partneringwithstakeholderstodeliversustainablesocio-economicoutcomesforourcommunities
• Makinggoodprogressinourefforttocontinuouslyenhanceoursociallicence tooperate
Sharedvalue
business
society
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Economics & Financial OutcomesCONCLUSION
PETERBREESEPRESIDENT&CEO
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3 PILLARS OF VALUE CREATION
ExplorationUpside
Ø 2016successfulprogramwith3newdiscoveries
Ø 2017explorationbudgetincreased
Ø Significantpotential– emergenceofanewdistrict
Production
Ø Phase1deliveringaheadofplan
Ø 2017:230,000-240,000ozwithAISCofUS$810-840/oz
OrganicGrowthdeliverssignificantboostinproduction
Ø Phase2Aapproved&fundedfromcashflows
Ø Targeting290,000– 300,000ozin2018
Ø Phase2Bflowsheetsimplified&de-risked
Ø Increasesproductionto±470,000oz
Exploration
Organ
icGrowth
Prod
uctio
n