Name of the Project
Diba gold project.

Location
The project is located in the Kayes region of western Mali.

Project Owner/s
Altus Strategies.

Project Description
A preliminary economic assessment (PEA) has provided robust results for the oxide portion of the Diba hill deposit. The PEA envisages a simple low-cost and -strip ratio conventional openpit gold mine using standard heap-leach processing.

Based on the assumption that the leach pad will be located to the south of the pit, the Diba project life-of-mine plan will comprise the simultaneous exploitation of three openpit deposits.

Pit phasing and exits are independent of one another, the first phase exit is located at 160mRL, the second phase exit is located at 150mRL, and the third pit at 145mRL. The overall strategy is to achieve an average life-of-mine production of

4 000 t/d. The strip ratio is expected to average 1.37:1.

The Diba project oxide zone appears to be amenable to conventional cyanide leaching using either agitated tank leach or heap-leach technology.

The project will produce about 52 000 oz/y over a 3.2-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project will generate a pretax net present value, at a 10% discount rate, of $115.2-million yielding an internal rate of return of 728%, with a payback of 6.2 months.

Capital Expenditure
The project requires preproduction capital of $20-million.

Planned Start/End Date
Not stated.

Latest Developments
Significant growth potential exists for the Diba project, with seven further significant oxide gold targets to be systemically drill-tested and a metallurgical study to be conducted to test the potential for sulphide ores to be processed using carbon-in-leach methods.

Key Contracts, Suppliers and Consultants
None stated.

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