Name of the Project
Diba & Lakanfla gold project.

Location
Kayes region of western Mali.

Project Owner/s
Altus Strategies.

Project Description
A preliminary economic assessment (PEA) completed in August 2022 envisages a simple low-cost and low-strip ratio openpit gold mine using standard heap-leach processing for oxide ores.

Oxide and transitional ore from Diba & Lakanfla are proposed to be mined by a contractor in a phased series of openpits, which prioritises extraction of higher-grade ore. At Diba, four openpits are proposed, while at Lakanfla, two openpits are proposed.

The mine plan could deliver a production rate of two-million tonnes a year over a mine life of
4.7 years. About 85% of the oxide ore is expected to be free digging, although some localised blasting may be required where there is harder material (ferrocrete/duricrust).

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $213.25-million and an internal rate of return of 1 204%, with an after-tax payback of 5.7 months.

Capital Expenditure
Total capital expenditure is estimated $28-million.

Planned Start/End Date
Not stated.

Latest Developments
Altus intends to (undertake a process to) potentially monetise the project and create a royalty.

Key Contracts and Suppliers
None stated.

Contact Details for Project Information
Altus Strategies, tel +44 1235 511 767 or email info@altus-strategies.com.