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Company Spotlight
Aroway Energy Inc. (TSXV: ARW)
Aroway Energy Inc. (ARW – TSX.V) is a Western Canadian junior oil and gas production and + Read More
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The Ubika Research Junior Resource stock watchlist
| Keegan Resources Inc. (Symbol: T.KGN) |
| Company Name: |
Keegan Resources Inc. |
| HQ Location: |
Vancouver, BC |
| Company Website: |
www.keeganresources.com |
| Shares Outstanding |
45 Million |
| Closing Price (July 26, 2010) |
$5.20 |
| Market Cap: |
$237.5 Million |
| Average Daily Volume |
68,000 |
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The Ubika Research Resource Stock Watchlist is a feature that profiles junior mining stocks. Visitors will discover high potential Canadian mining stocks, the best gold stocks, small cap energy stocks and junior gold companies through this very popular feature.
Share Highlight / 1-Year Stock Chart
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Business Overview
Keegan Resources is a Vancouver-based junior gold exploration company focused on the advancement of its 90%-owned Esaase gold project and its 100%-owned Asumura gold project, both located in southwest Ghana. Its corporate strategy is to acquire, discover and develop world class gold deposits in Ghana, West Africa in an efficient, cost effective and technically sound manner so as to provide maximum benefit to its shareholders.
+ More info
What is interesting?
- The company’s focus is finding and developing gold projects in Ghana- an emerging gold mining country in West Africa. There are many multi million ounce gold mines operated by major gold producers including Newmont Mining Corp (NYSE:NEM).
- The flagship project, Esaase Gold Project, is one of Ghana’s newest prospective gold mines.
- The Esaase Gold Project is an advanced exploration project with extensive exploration history. The property has strong exploration potential along strike and at depth.
- The company has NI 43-101 compliant resource base of approximately 3.45 million ounces of gold (approximately 2 million ounces in the indicated category).
- The company is focused on advancing its Esaase Gold Project towards production and has real potential to produce in short to medium term.
- Preliminary Economic Assessment on Esaase Project was completed in April 2010 that suggests that the deposit will be a profitable open pit mining operation.
- The company’s other major project is Asumura gold project. Although this project has no formal resource calculation it is located on the same structure as Newmont’s Ahafo gold mine (18 million ounces of gold resources). A drilling program is currently underway at this project.
- The company has a strong management team with significant exploration experience and a strong backing from institutional investors (Institutions and insiders own more than 65% of the company).
- A strong treasury with $50 million cash allows for an aggressive project development and exploration plans.
Risks
Keegan Resources Inc. is an early stage gold exploration company. The commercialization risks associated with mineral exploration and development are high and its prospects for discovering economically viable gold mines are uncertain. Gold prices can fluctuate and a decline in gold could impact the share price of the company adversely. Early stage exploration companies typically needs significant amount of capital and although well financed, Keegan may still require additional financing. This could result in shareholders’ dilution.
Keegan Resources Inc. News
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