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A prefeasibility study for Predictive Discovery’s Bankan gold project in Guinea gives it a net present value more than $210 million higher than its capital costs.
West Africa, including Guinea, is seeing a surge in mining activities, with both expansions of existing mines and new exploration interests. In Guinea, significant growth in gold mining can be seen, highlighted by projects like the Kiniero gold project. Robex Resources is redeveloping the historical mine with a $160 million investment, aiming to produce around 90,000 oz. of gold per year over 9.5 years.
The mine plan entails a yearly output of 269,000 oz. gold over a 12-year life. Most of the ore will be extracted using conventional open pit methods, which include drilling, blasting, and hauling with trucks and shovels at the NEB and BC deposits. The NEB open pit will undergo two-stage mining to access high-grade ore early, and the Gbengbeden satellite deposit will be mined in the sixth year.In the proposed expansion case, the NEB underground mine will mine reserves during the first six and 12 years and draw on current inferred resources during years six to 11, accounting for 12.8% of total gold. The company has completed an environmental and social impact assessment with “no fatal flaws,” according to Pardey.
BMO’s Ray said the next key catalyst is the receipt of the exploitation permit. The company aims to secure that within six months of submitting the PFS and impact assessment, which is expected soon.
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