https://www.miningweekly.com
Africa|Exploration|Financial|Gold|PROJECT
Africa|Exploration|Financial|Gold|PROJECT
africa|exploration|financial|gold|project

Bankan has potential to be a future tier-one mine, PFS shows

15th April 2024

By: Creamer Media Reporter

     

Font size: - +

A prefeasibility study (PFS) on ASX-listed Predictive Discovery's Bankan project, in Guinea, has confirmed that the project is one of the largest discoveries in West Africa and potentially also a future tier-one mine, MD Andrew Pardey says.

The project is expected to produce about 269 000 oz/y of gold over a 12-year mine life, at an all-in sustaining cost (AISC) of $1 130/oz.

The PFS estimates the required capital expenditure to develop the mine at $456-million.

"The Bankan gold project has developed into a company-defining and globally significant gold project. Importantly, the PFS includes a maiden ore reserve estimate of 3.05-million ounces, representing 74% conversion of the indicated mineral resource,” Pardey points out.

“Financial metrics are strong, with a post-tax net present value (NPV) at a discount of 5% of nearly $1.4-billion and an internal rate of return (IRR) of 42% at current gold prices. Financials remain robust at the conservative PFS base case price assumption of $1 800/oz, with an NPV of $668-million and IRR of 25%. The upfront capital cost requirement of $456-million is very competitive and AISC of $1 130/oz deliver high profit margins,” he adds.

Pardey notes that there are still multiple project improvement opportunities that can materially enhance the technical and financial outcomes of the project.

"We intend to actively pursue these during the definitive feasility study. Part of this upside is the significant potential for additional deposits to be discovered close to the existing ore reserves and regionally within the broader permit package.

"Predictive Discovery is highly confident in growing the resource base and increasing the mine life beyond the current 12 years. We will continue to systematically pursue our near-resource and regional exploration programmes," he comments.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
22nd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.157 0.193s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: