Bankan has potential to be a future tier-one mine, PFS shows
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.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...
VISIT SHOWROOM
CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
