Teranga starts producing gold at new West Africa mine
West Africa’s newest mine – Wahgnion, in Burkina Faso – produced its first gold ahead of schedule, TSX-listed Teranga Gold announced on Wednesday.
The mine, which is Teranga’s second gold operation after Sabodala, in Senegal, began processing ore in August and achieved its first gold pour two months ahead of schedule.
A total of 117 712 t of low-grade ore was processed during the commissioning phase, producing 3 720 oz.
“Typical with commissioning, low grade ore was used to ensure the extraction process is working well before putting higher grade material into the circuit,” said COO Paul Chawrun.
Wahgnion is forecast to produce 30 000 oz to 40 000 oz in 2019. In the first five years of its 13-year life, the mine is forecast to produce 132 000 oz/y at an all-in sustaining cost of $761/oz.
Teranga said that, starting next year, it would embark on a multi-year exploration and drilling programme to further optimise the mine plan and extend Wahgnion’s mine life. The current reserve estimate and mine plan include only the four initial deposits on the mine licence.
The focus would be on prospective exploration targets within trucking distance of the plant.
Teranga stated that its 2020 consolidated production would increase to between 300 000 oz/y and 350 000 oz/y.
Free cash flow is expected to be used to fund Teranga’s growth plans at Wahgnion, Sabodala, and Golden Hill – the company’s most advanced exploration property.
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