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Asante Gold Corporation

ASGOF
1
Gold · Basic Materials
Price
$0.71
+0.03 (+5.06%)
Market Cap
$645.6M
Exchange
Other OTC
Winston Score
1
Winston is worried
Weak fundamentals across most pillars.
Based on the IPO prospectus (annual filing). This score will refine automatically once the company reports its first quarters.
Data as of Sep 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
Growth
Weak
Cash Flow
Weak
Stability
Weak
Valuation
Data not available
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Share count rising — dilution

+238.9% over 3y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 179.4M (2022) → 608.1M (2025)

§Winston Score History

The full picture

Asante Gold Corporation is a gold mining company that operates in Ghana, West Africa. It owns and runs the Bibiani and Chirano gold mines, producing gold that it sells on the open market. Ghana is one of Africa's top gold-producing countries, and Asante is one of the newer mid-tier miners operating there.

The company makes money by mining gold ore, processing it, and selling the refined gold at market prices. It is a relatively small miner with a market cap around $600 million and is still working to improve the efficiency of its operations, as reflected in its currently thin margins. Asante's key growth driver is expanding production and lowering costs at its two mines, but the main risks include fluctuating gold prices, high operating costs in a challenging mining environment, and the capital demands of scaling up production.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+70.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+81.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

18.6%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$70M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Asante Gold Corporation grew revenue 71% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
-15.0%
Thin — -15.0% gross margin
Profit after running costs
Operating Margin
-21.8%
Losing money on operations — -21.8%
Return on the money invested
ROCE
-34.7%
Weak — -34.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-20.8%
Shrinking sales (-20.8% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
N/A
Data not available

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-66.5%
Burning cash (-66.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
105.05
Heavy debt load (105.05)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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