(Ecofin Agency) - Bassari Resources announces today April 20, the creation of Makabingui Gold Operation, a special-purpose entity charged to operate its Makabingui gold project in Senegal. This follows a final approval from the government.

The new entity (a subsidiary of Bassari) will receive the $13 million financing granted by Coris International Bank to start production at the mine. Therefore, the company can now begin the development of the mine.

Let’s note that the project hosts a mineral resource of 11.9 million tons at 2.6 g/t gold. It is set to annually process 300, 000 tons and produce 50, 000 oz over a 4-years lifespan.

Louis-Nino Kansoun