Sun Valley Gold Lowers stake in Asanko Gold Inc (AKG)

Asanko Gold Inc (AKG) : Sun Valley Gold reduced its stake in Asanko Gold Inc by 23.59% during the most recent quarter end. The investment management company now holds a total of 11,115,259 shares of Asanko Gold Inc which is valued at $48,795,987 after selling 3,431,100 shares in Asanko Gold Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Asanko Gold Inc makes up approximately 11.47% of Sun Valley Gold’s portfolio.

Other Hedge Funds, Including , A.r.t. Advisors added AKG to its portfolio by purchasing 55,411 company shares during the most recent quarter which is valued at $243,254. Asanko Gold Inc makes up approx 0.01% of A.r.t. Advisors’s portfolio.Citadel Advisors boosted its stake in AKG in the latest quarter, The investment management firm added 103,928 additional shares and now holds a total of 115,321 shares of Asanko Gold Inc which is valued at $506,259. Acrospire Investment Management sold out all of its stake in AKG during the most recent quarter. The investment firm sold 1,402 shares of AKG which is valued $6,057. Alps Advisors Inc added AKG to its portfolio by purchasing 738,208 company shares during the most recent quarter which is valued at $2,960,214. Asanko Gold Inc makes up approx 0.03% of Alps Advisors Inc’s portfolio.

Asanko Gold Inc opened for trading at $3.73 and hit $4.1 on the upside on Thursday, eventually ending the session at $4.1, with a gain of 8.75% or 0.33 points. The heightened volatility saw the trading volume jump to 5,59,116 shares. Company has a market cap of $815 M.

Asanko Gold Inc. (Asanko) is a Canada-based exploration and development stage company. The Company’s primary asset is its Asanko Gold Mine Project located on the Asankrangwa gold belt in Ghana. In addition to its principal project the Company holds a portfolio of other Ghanaian gold concessions in various stages of exploration. The Asanko Gold Mine Project is located in the Amansie West district of the Ashanti region of Ghana approximately 250 kilometer northwest of the capital Accra and about 50 to 80 kilometer southwest of the regional capital of Kumasi. The Company is developing Asanko Gold Mine Project in two Phases. The Phase I consists of Nkran pit which accounts for 85% of the Phase I ore reserves and four satellite deposits Abore Asuadai Dynamite Hill and Adubiaso.

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