- Write by:
-
Monday, July 27, 2020 - 9:13:02 PM
-
745 Visit
-
Print
Mining News Pro - A preliminary feasibility study (PFS) into West Africa-focused Teranga Gold`s Sabodala-Massawa gold complex, in Senegal, has demonstrated that it is a top-tier mine with a large proven and probable reserve base of 4.8-million ounces, with low all-in sustaining costs (AISC) of $749/oz and new cash flow of over $2.2-billion over a 16.5-year mine life.
The PFS has also outlined the strong potential for growth through further exploration and discovery.
Earlier this year, Canada-headquartered Teranga completed the acquisition of the Massawa gold project from Barrick Gold Corp.
The PFS focused on an initial concept to mine the project’s deposits leveraging the existing plant at Teranga’s flagship Sabodala gold operations.
Teranga CEO and president Richard Young says the PFS confirms that the Massawa acquisition is “truly transformational” for Teranga, and repositions the company as a leading midtier gold producer with one of the lowest AISC profiles in the industry.
Now that a base case technical concept has been established with the PFS, Teranga will continue the technical work in support of a definitive feasibility study, slated for completion in 2021, to further derisk the project’s value.
Short Link:
https://www.miningnews.ir/En/News/574092
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
Newmont Corp. has no plans to expedite a decision on its $2.5 billion Yanacocha Sulfides project, dashing the Peruvian ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
Gold rose after mixed signals from the US, where optimism is growing the economy is on target for a soft landing as the ...
Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about buying a stake in ...
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
No comments have been posted yet ...