Far East Capital Newsletter
West African gold is still a fertile ground for ASX listed companies
14 Jul 2018

In This Issue

West African gold is still a fertile ground for ASX listed companies

Back when I was working at Canaccord Genuity (nee BGF Equities) I organised a number of investor and institutional field visits to the West African countries of Burkina Faso, Ghana and Mali. We chartered planes capable of carrying 10-20 passengers over a seven day time frame as the most efficient way to get around these countries to see projects owned by Adamus, Ampella, Azuma, Castle, Gryphon, Perseus and Resolute, to name few. It was a real gold boom with many of the projects being in the vicinity of gold rushes with thousands of locals mining gold in simple but effective workings, usually limited at depth by water tables. West Africa was hot then, but the downturn in the commodities markets after 2012 saw a marked downturn, notwithstanding a number of new mines being developed.

Nevertheless, there is still plenty of gold to be found. Recent successes shown by companies such as Golden Rim, Oklo Resources, Cardinal Resources and West African Gold offer further confirmation of the potential of the region. With this in mind we are taking a closer look at Mako Gold (MKG), a recent IPO that is just starting gold exploration programs in West Africa. 

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