Abujar turns out positive for Tietto
PERTH (miningweekly.com) – The Abujar gold project in Côte d’Ivoire could produce some 260,000 ounces of gold in its first full year of operation, according to a definitive feasibility study (DFS).
ASX-listed Tietto Minerals said on Tuesday that the four million tonnes per year operation is expected to produce some 200,000 oz / year of gold in the first six years of an eleven-year mine life. , at all-inclusive sustaining costs of $ 804 on average. / oz.
Life-of-Mine (LOM) gold production has been estimated at 155,000 oz / yr, with some 1.7 million ounces of gold recovered at the project, while all-in sustaining costs on the LOM were estimated at $ 832 / oz.
The DFS estimated that the project would require a capital investment of $ 200 million and could generate LOM revenues of $ 2.87 billion, and LOM pre-tax free cash flow of $ 1.28 billion and profit. before interest, taxes, depreciation and amortization of $ 1.52. -billion.
The project is estimated to have a pre-tax net present value of $ 959 million and an internal rate of return of 115%.
“Our recent update to the Abujar resource model has enabled Tietto to provide a DFS that confirms Abujar’s potential to be one of the largest gold mines in Côte d’Ivoire,” Tietto said. MD Dr. Caigen Wang.
“The DFS metrics are clearly compelling, all of the pre-feasibility study metrics have improved dramatically, from production to finance. Gold production in particular positions Abujar as a Tier 1 gold mine.
“We are confident that the Abujar Gold Project will continue to benefit from both resource and reserve growth and therefore LOM production will increase next year through our continued large-scale drilling program. . We are focused on advancing the Abujar gold project to become West Africa’s next gold mine.
Tietto will examine the potential for increasing the throughput of the Abujar plant above DFS levels once the plant is operational, as demonstrated by other gold projects in West Africa.