Organic Growth & Expansion Projects

The Asanko Gold Mine has identified two organic growth projects, Project 5 Million and Project 10 Million, which could ultimately increase production to ~450,000 ounces per year.

Project 5 Million consists of two modules. The first is the upgrade of the existing CIL processing plant from a design of 3Mtpa to 5Mtpa. The volumetric upgrades achieved name plate capacity in December 2017 with the processing plant operating at an annualized milling rate in excess of 5Mtpa during 2018.

The second stage of Project 5 Million is the construction of an overland conveyor and development of the large scale Esaase deposit, which is fully permitted.

Project 10 Million is the construction of a second replica 5Mtpa CIL plant to double processing capacity to a total of 10Mtpa, with a commensurate increase in mining operations.

The timing of the second stage of Project 5 Million and Project 10 Million will require approval from the JV partners and is dependent on the balance sheet of the Company and its JV partners, financing opportunities as well as favourable market conditions.

A Definitive Feasibility Study on the planned expansion projects is available here and has been on SEDAR.