West African Resources announced it has completed an updated feasibility study for its Sanbrado gold project in Burkina Faso. Results showed that the mine’s per annum output increased to 211,000 ounces over the first five years of operation.
Under this updated study, the probable ore reserve is now estimated at 1.6 million oz, 76% more than the previous estimate. In addition, capital costs stand at $185 million with a 16-month payback period. Meanwhile the post-tax net present value rose to $405 million, while the internal rate of return increased to 49%. “The updated FS confirmed that Sanbrado was a robust, high-margin gold project,” CEO Richard Hyde said.
West African Resources, which has already obtained an environmental license for the project, expects an updated operating permit in Q3 2018. Talks with financiers are underway and the company hopes to conclude an agreement by Q4 this year.
Louis-Nino Kansoun
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
President Évariste Ndayishimiye replaces three ministers in his third cabinet reshuffle since 2020. Changes affect health, infrastructure, and...
Both partners target to expand supply chain finance across eight African markets with the deal $1.9 billion deal flow is expected to occurred over...
EBRD provides a €35.5 million ($41.5 million) sovereign loan to SGDS to modernize waste management in Greater Nokoué. Project targets over...
Reforms target refinancing, cost cuts, governance improvements Plans include new regional subsidiary, potential private investment Senegal on...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....