BRIEF-Asanko Gold amends debt repayment schedule in preparation for Phase 2A investment decision

Thu May 19, 2016 7:15am EDT
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May 19 (Reuters) - Asanko Gold Inc

* Asanko gold amends debt repayment schedule in preparation for phase 2A investment decision

* Terms agreed to amend repayment schedule on existing US$150 million debt facility

* Principal repayments deferred by two years to july 1, 2018

* No other changes to existing debt facility terms or offtake agreement

* Revised repayment profile frees up an additional US$70 million in cash flow over two years for planned growth projects

* Phase 1 of Asanko gold mine is in production, expected to produce annual average of 190,000 ounces of gold/year over 12.5 year life-of-mine

* First stage, phase 2A, of Asanko mine expansion sees capex of $100-$125 million to expand production to about 280,000 ounces of gold/year by Q4 2018 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)