Makabingui granted Presidential Decree
PERTH (miningweekly.com) – ASX-listed Bassari Resources has been granted a Presidential Decree for its Makabingui gold project, in Senegal.
The company said on Monday that the decree validated the terms of the Makabingui exploration permit, which was issued by the Mines Department and signed by the Minister of Mines and Geology.
“This is a significant milestone for Bassari and the Makabingui gold project, and we are delighted to have successfully concluded discussions and negotiations with the government of Senegal,” said Bassari executive chairperson Alex Mackenzie.
“Senegal as a stable democracy has demonstrated itself as supportive of international investment in the mining industry. From the initial resource discovery at Makabingui to full project approval and funding, we have received support from our many stakeholders and we look forward to delivering this project over the coming months."
The Makabingui project has a mineral resource of 11.9-million tonnes, grading 2.6 g/t gold for one-million ounces of gold. The first stage of development will see an openpit operation to access high-grade pits comprising 180 000 mined ounces.
The project will have a processing rate of 300 000 t/y and deliver an average 50 000 oz/y, over a nearly four-year mine life.
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