Name of the Project
Abujar gold project.

Location
Côte d’Ivoire.

Project Owner/s
Exploration and mining company Tietto Minerals.

Project Description
The project has probable mineral reserves of 15.7-million tonnes run-of-mine at 1.7 g/t of gold for 860 000 oz.

A prefeasibility study (PFS) on the proposed 3.02-million-ounce project has shown it to be a robust, long-life operation, based on the openpit mine development.

The Abujar AG openpit PFS forecasts production of 182 000 oz of gold in years 1 to 3, and more than 168 000 oz/y over the first six years of the project.

The project has a life-of-mine (LoM) of ten years. LoM recoveries are estimated at 1.08-million ounces of gold.

The expanded project, comprising the Abujar AG openpit PFS, APG openpit scoping study and AG underground study envisages average production of 182 000 oz/y of gold in years 1 to 3, and 168 000 oz/y in years 1 to 6.

The project has an LoM of 12 years. LoM recoveries are estimated at 1.44-million ounces of gold.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The Abujar AG openpit PFS has a net present value, at a 5% discount rate, of $363-million and an internal rate of return of 53%, with a payback of 2.4 years on initial capital.

The Abujar AG openpit PFS, APG openpit scoping study and AG underground study forecasts a pretax net present value, at a 5% discount rate, of $432-million and an internal rate of return of 54%, with a payback of 2.4 years on initial capital.

Capital Expenditure
$230-million, including preproduction mining and contingency.

Planned Start/End Date
Not stated.

Latest Developments
The Abujar AG openpit PFS will be used as the basis for a definitive feasibility study, expected in the third quarter of 2021, and build on the value drivers that have been identified.

A PFS will be undertake to assess heap-leach potential at APG to add to gold production at Abujar.

Meanwhile, Tietto has secured all mining and environmental approvals for Abujar; negotiations with the Côte d’Ivoire government onthe Abujar Mining Conventionare under way, with ratification expected in the second quarter of 2021.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Tietto Minerals, tel +61 8 9331 6710 or email admin@tietto.com.