https://www.engineeringnews.co.za

Roxgold pours first metal at new Burkina Faso mine

18th May 2016

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – TSX-V-listed Roxgold has poured first gold totalling 1 020 oz at the Yaramoko gold project, in Burkina Faso.

The pour took place thirteen months from breaking ground and the Yaramoko mine was built on budget and ahead of schedule; it was also one of the highest-grade gold mines in the world, the company advised.

As at March 31, Roxgold maintained a healthy balance sheet with cash of about $42-million and debt of about $59-million.

The company expected to ramp up to commercial production in the third quarter.

Located in the Houndé greenstone belt of Burkina Faso, the company had delivered a feasibility study for Yaramoko's 55 Zone in April 2014. The study outlined an after-tax internal rate of return of 48.4% with a 1.6-year payback on initial capital, based on a gold price of $1 300/oz. The study also calculated an after-tax net present value of $250-million.

Capital expenditures were pegged at $106.5-million to construct a 99 500 oz/y operation over a seven-and-a-half-year mine life.

The mine plan was based on probable reserves of two-million tonnes grading 11.8 g/t gold, containing 759 000 oz of the yellow metal.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 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:0.111 0.164s - 156pq - 2rq
Subscribe Now