Africa Snapshot: Eight companies with promising projects

The study forecast the post-tax net present value at a 5% discount rate would be C$266 million with an internal rate of return of 41.1% at a gold price of $1,530 per ounce. The mine would produce 100,000 oz. gold per year for the first five years and a total of 728,654 oz. over a 9.4-year mine life. Over the life of the mine, all-in sustaining costs would be $784 per oz. gold. A drill crew in front of a drill rig at African Gold Group’s Kobada gold project in Mali. Credit: African Gold Group Kobada’s proven and probable reserves are estimated at 27.1 million tonnes averaging 0.87 grams gold per tonne, containing 754,800 oz. gold.

African Gold is currently updating the definitive feasibility study to add tonnage to reserves and expand resources. The company says considerable work will also be done to optimize mining and scheduling, refine the mineral […]

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