Tietto updates Abujar plans
PERTH (miningweekly.com) – Junior gold miner Tietto Minerals has unveiled a new life-of-mine (LoM) plan for its Abujar gold mine, in Cote d’Ivoire.
Over the nine-year mine life, from 2024 to 2032, Abujar is expected to produce an average 170 000 oz/y of gold at an all-in sustaining cost (AISC) of $982/oz. The new LoM plan estimated an average yearly pre-tax cashflow of $137-million and a post-tax cashflow of $108-million.
Tietto on Thursday said that the project’s pre-tax net present value (NPV) had now been estimated at $1.06-billion, and its post-tax NPV at $853-million at a gold price of $1 900/oz.
“We are pleased to finalise this updated LoM plan for our Abujar gold mine as we continue to ramp up gold production. The updated LoM plan shows an AISC of $982/oz over the LoM, and strong average nine-year production of 170 000 oz/y at a LoM head grade of 1.04 g/t gold,” said Tietto MD and CEO Matt Wilcox.
“Tietto achieved strong cash and bullion generation in the September quarter of A$18-million at a significantly lower average head grade than reserve head grade. This updated LoM plan demonstrates just how strongly Abujar can perform over a longer timeframe, which will become apparent as our mining contractor begins to generate stockpiles enabling grade selection for mill feed.”
The updated LoM plan follows an update of the project’s gold reserves, which are now estimated at 36.7-milion tonnes, grading 1.15 g/t gold for 1.36-million ounces, up from the previous reserve estimate of 34.4-million tonnes at 1.31 g/t gold for 1.45-million ounces of gold.
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