Thursday, November 6, 2014

Asanko Gold press release translation



Here's the original:

Market Wired - Asanko Gold mine construction update. Quote:

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 6, 2014) - Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE MKT:AKG) is pleased to provide a construction update on its fully funded and permitted Phase 1 project of the Asanko Gold Mine ("AGM" or the "Project") in Ghana. Phase 1 is expected to produce 200,000 ounces of gold per annum at steady state starting in Q2 2016, with the first gold pour planned during Q1 2016.

Project construction commenced in August with the mobilisation of the bulk earthworks contractors to site. Over the past two and a half months, construction has been advancing rapidly and is on schedule and budget, with 12% of the overall project complete. The Company has created a photo gallery on its website, including video footage of construction activity. For the latest videos and photographs, please visit http://www.asanko.com/s/PhotoGallery.asp.

Peter Breese, Asanko's President and CEO commented: "It is very satisfying for all of our employees and stakeholders to see the Asanko Gold Mine taking shape with construction activity proceeding on schedule and on budget.

"The next key milestone for the Company will be the release of the optimized mine plan, updated mineral reserves and associated operating costs as a Definitive Project Plan for Phase 1. For the past six months the team has been working successfully at de-risking the Project with an updated capital cost estimate, a revised Mineral Resource Estimate and now the optimized mine plan and operating cost profile. We expect the DPP will re-affirm the value of the Project that we saw when we acquired PMI Gold earlier this year."

Construction Update

Clearing and grubbing of the plant site has now been completed. A portable crushing plant is in operation to produce engineered fill materials for civil works. The mill foundations have been excavated and 100% of the engineering fill has been placed. The concrete batch plant is operational and the first concrete was poured on schedule in October. Pouring the mill foundations is underway and will continue for several months into 2015, coinciding with the dry season in Ghana. Excavation work is continuing on the Carbon-in-Leach circuit base, the thickener base and other plant areas. The earthworks contractor for the tailings dam is currently mobilizing to site and will begin work this month.

Power for the Project is being sourced from the national power grid and a 30 kilometer long, 161 kV line will be run along the existing power corridor to provide the necessary power. The contract for the power line to site has been awarded and the Company is working with the Ghanaian power authorities to begin line construction.

Mining

The main mineral resource for Phase 1 is the Nkran pit, located immediately adjacent to the plant site. The pit was previously mined to a depth of approximately 120 meters and requires 21.7 million tonnes of waste to be pre-stripped prior to commencing ore mining operations in Q4 2015. Included in the pre-strip will be 423,000 tonnes of ore at a gold grade of 2.09 g/t which will be stockpiled ahead of plant commissioning.

The Company plans to utilize a mining contractor to undertake the pre-stripping as well as the first year of mining operations. The mining contract tender evaluation process is nearing completion and an award of the mining contract is imminent. Pre-stripping is expected to commence in January 2015. Mobilisation, clearing and grubbing will take place in November and December.

There is approximately 6 million cubic meters of clean water in the Nkran pit that will be pumped out in parallel with pre-stripping operation. Pumping equipment is on-site and being installed and dewatering is expected to commence this month.

Procurement

Procurement is 47% complete and proceeding on schedule with approximately US$85 million currently committed in orders and contracts. Equipment and materials deliveries, none of which are on the project critical path, remain on schedule. Importantly, with almost a third of the capital expenditures of the project now committed, the Project is tracking very closely to the US$295 million capital expenditure estimate.

The Company is fully funded to cash flow positive in Q2 2016 with US$228 million in cash on-hand as at September 30, 2014 and undrawn project debt facilities of US$110 million plus a US$20 million cost-overrun facility for total available funding of US$358 million.

Partial Relocation of Nkran Village

As required by law in Ghana, dwellings or structures within 500 meters of the final mining pit outlines must be relocated for noise, dust and vibration reasons. A portion of the Nkran village will be moved ahead of commencing ore mining operations, with 88 building structures to be replaced by the Company. The Relocation Action Plan has been finalized and locations for the relocated dwellings are being selected by the Relocation Negotiation Committee for approvals by the Ghanaian Land Commission later this year. Construction is expected to begin early in 2015 with the partial relocation due for completion in Q3 2015.

Health and Safety

There have been no lost time accidents on site with 168 days of construction activity and 135,143 man-hours completed on the project to date.


The outbreak of the Ebola virus in West Africa is being monitored closely by the Company. There have been no reported cases of Ebola in Ghana to date and construction activity has not been impaired in any way. The Company continues to monitor the situation closely and has implemented a number of preventative programmes to educate its staff, contractors and local village populations as well as monitor travel movements of all visitors and contractors. These will remain in place until the virus is deemed by health authorities to have been brought under control.


And here's the translated version:



Market Wired - Asanko Gold says 'for god's sake we're building a gold mine'. Quote:

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 6, 2014) - Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE MKT:AKG) wants to remind you we're actually building a gold mine so for god's sake quit selling our stock! Phase 1 is expected to produce 200,000 ounces of gold per annum at steady state starting in Q2 2016, with the first gold pour planned during Q1 2016, so quit selling already!

Project construction commenced in August with the mobilisation of the bulk earthworks contractors to site. Over the past two and a half months, construction has been advancing rapidly and is on schedule and budget, with 12% of the overall project complete. The Company has created a photo gallery on its website, including video footage of construction activity, if you don't believe us! For the latest videos and photographs, please visit http://www.asanko.com/s/PhotoGallery.asp.

Peter Breese, Asanko's President and CEO commented: "For fuck's sake quit selling our stock! We're building a mine! Go look at the photos on our website if you don't believe us! You seriously think we photoshopped all that?"

Construction Update

Clearing and grubbing of the plant site has now been completed. A portable crushing plant is in operation to produce engineered fill materials for civil works. The mill foundations have been excavated and 100% of the engineering fill has been placed. The concrete batch plant is operational and the first concrete was poured on schedule in October. Pouring the mill foundations is underway and will continue for several months into 2015, coinciding with the dry season in Ghana. Excavation work is continuing on the Carbon-in-Leach circuit base, the thickener base and other plant areas. The earthworks contractor for the tailings dam is currently mobilizing to site and will begin work this month. So the mine is being built! Really, this is what building a mine looks like! So quit selling!

Power for the Project is being sourced from the national power grid and a 30 kilometer long, 161 kV line will be run along the existing power corridor to provide the necessary power. The contract for the power line to site has been awarded and the Company is working with the Ghanaian power authorities to begin line construction. So we're going to have electricity!

Seriously! We're building a mine! Would we be doing all this work if we weren't building a gold mine? Have you all lost your minds?

Mining

Seriously! It's a mine! You're selling the wrong stock!

Procurement

Procurement is 47% complete and proceeding on schedule with approximately US$85 million currently committed in orders and contracts. Equipment and materials deliveries, none of which are on the project critical path, remain on schedule. Importantly, with almost a third of the capital expenditures of the project now committed, the Project is tracking very closely to the US$295 million capital expenditure estimate.

The Company is fully funded to cash flow positive in Q2 2016 with US$228 million in cash on-hand as at September 30, 2014 and undrawn project debt facilities of US$110 million plus a US$20 million cost-overrun facility for total available funding of US$358 million. So why are you selling our stock? We've got all the money we need to build this mine! This is going to be a damn mine! We're building it! What fever dream is this that bids you to puke our stock in twain? Quit selling!

Partial Relocation of Nkran Village

As required by law in Ghana, dwellings or structures within 500 meters of the final mining pit outlines must be relocated for noise, dust and vibration reasons. A portion of the Nkran village will be moved ahead of commencing ore mining operations, with 88 building structures to be replaced by the Company. The Relocation Action Plan has been finalized and locations for the relocated dwellings are being selected by the Relocation Negotiation Committee for approvals by the Ghanaian Land Commission later this year. Construction is expected to begin early in 2015 with the partial relocation due for completion in Q3 2015. So quit freaking out already!

Health and Safety

There have been no lost time accidents on site with 168 days of construction activity and 135,143 man-hours completed on the project to date.

The outbreak of the Ebola virus in West Africa is being monitored closely by the Company. There have been no reported cases of Ebola in Ghana to date and construction activity has not been impaired in any way, so quit selling our damn stock! There's no Ebola in Ghana! None! 
For the love of god and all that is holy, quit selling our stock you fools!

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