The African goldfields see the ugly face of gold mining; artisanal pits, dangerous conditions and processes that kill.
I would only be happy investing in companies who aim to bring modern mining to these locations.
More Companies & Discussion below
Australian Explorers are heavily represented in this region.
(For UK investors ASX stocks can be held in ISA tax free accounts with the right providers.)
- December 2012 Article from European Gold Centre, including Resource World report
- A Good Review from early 2012 of African producers and Explorers by Clarus Securities Linked on Noble Mines Site.
- Excellent BMO Research Note from May 2011 - Focus on Perseus, Keegan, Avion (Now in Endeavour) and Avocet.
- "Africa Down Under" Conference August 2012 (Aussies)
- An Older Review By BGF Capital 2010 during an "excited" period for the stocks. There was a degree of "bubble" for the Aussie African Gold Explorers. Follow how those charts turned out. Which met potential. What is now offering value?
- African Development Bank Group - Mar-2012Report - Maximising Economic Returns for Countries
A Discussion Board "Gold Exploration in West Africa" at ADVFN which seems to have limited discussion but a long list and brief overview of the companies involved.
And Charts For Companies - At ADVFN
Africa generally has a mixed reputation with investors, with risks around the rule of law and stability / government overthrow meaning that a profitable company may find post-hoc changes to contracts imposed.
A good interview at the Gold Report with Benoit La Salle of Semafoe. Discusses the importance of excellent relationships between miners and the state and social responsibility. Certainly promotes Semafoe but also references other companies.
Pay attention to the key mining country risk reports issues annually by the Fraser Institute and Behre Dolbear. I linked to these on the blog here.
Recent events in Mali highlight the risks (and Mali was reasonably high up one of those lists)
The key safer countries in West Africa are seen as,
Map - This from Castle Peak's Site
- Anglo Gold Ashanti
- Kinross - (Ex Red Back properties!)
Junior / Mid Tier Producers
- Perseus (PRU.TO / PRU.AX)
- Endeavour (EDV.TO) / Also ASX Listed. (EDV.WT.A Feb 2014 @ $2.50)
- Golden Star (GSC.TO / GSS)
- Has routinely disappointed, at some gold price will capitalise ??
- Low valuation for high production / apparent resources
- Processing refactory ore using Anglo's Biox technology
- Noble Mineral (NMG.AX)
- BGF Securities - bullish note 2011 - stock price well down since. Turnaround ??
- Deposit / mill potential nr production - but previous company Central African Gold failed with Bibiani mine previously after buying from Anglo Gold. Chinese stake. Extraordinary Gen Meeting - placing large no.s shares @ 16c
Large Exploration Projects with defined resources
- Asanko Gold (AKG.TO - (Formerly Keegan (KGN.TO)
- - sold down to near cash value @ April 2012
- PEA / Resources
- PMI Ventures (PMV.v)
- - Ex Doug Mcquarrie
- Defined resources and PEA
- Azumah Resources (AZM.AX / AZR.TO)
- Significant Aussie discovery - stake in Castle
- $50m mcap (Sept-12) - $20m cash / investments
Junior Exploration of Interest
See Additional Maps at bottom of sheet
- Castle Peak Mining (CAP.v)
- Presentation - On Canaccord 2012 watchlist
- 225 kmsq
- Randy Smallwood & Peter Hawley on board of Directors. Plus Daryl Cardey, Darren Lindsay, David Groves, David Mason (Augen)
- Insiders hold 59% on undiluted shares - April 12 presentation
- Beijing Donia - 30.5% holding for $5.5m investment
- Grizal enterprises 14% for $3m
- Abzu (ABS.v)
- Ex Red Back concessions
- Gordon Neal, Jeff Pontius on board - some are wary of Cardero group
- Darin Wagner on advisory board
- Management ownership 15% - Institution closely held 68% presentation Feb 2012
- Asante (ASE.v)
From Indigo's website: (the worst colour coding ever?)
- Newmont - Especially Ashanti belt in Ghana
- Randgold (entirely Africa)
- Iamgold - Global (Africa key ex Orezone v1)
- Endeavour - Acquisitive - See Ghana
- Avocet (.L)
- Amara Mining - formerly Cluff (.L)
Large Exploration Projects - With Defined Resources
- Volta (VTR.TO) - proposed acquisition by B2 Gold
- Orezone (ORE.TO)
- True Gold Mining (TGM.v) formerly Riverstone (RVS.v)
Junior Exploration of Interest
- Golden Rim (GMR.AX)
- Carbine Resources (CRB.AX)
- Predictive Discovery (PDI.AX)
- Gryphon Minerals (GRY.AX)
- Orbis Gold (OBS.AX) - Formerly Mt Isa Metals. 2 High grade deposits. Scoping Study Oct-13
- Middle Island (MDI.AX)
- Goldrush Resources (GOD.v)
- Concordia Resources (CCN.v) - restructuring?
- Savary Gold (SCA.v)
- Ampella Mining (AMX.AX)
- West African Resources (WAF.AX) - bid for Channel. Largest AX listed landholder in Burkina.
- Management/Directors hold 35% ?
- Channel Resources (Offer made by West African) - HRA - Coffin liked this.
- Roxgold (ROG.v)
- Indigo Exploration
- Goldrush Resources
- Sarama Resources (SWA.v)
Until recently extremely unstable. May be improving?
- Aureus (AUE.TO) :
- Approaching DFS,
- Interesting write up on good mangement etc here by Dominic Frisby
- Hummingbird Resources (HUM.L - AIM)
The Usual Spreadsheet trackers to follow.
Castle Peak Mining
Abzu Gold (ABS.v)
Asante Gold (ASE.v)