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Bassari signs refining agreement for Senegal gold

Bassari signs refining agreement for Senegal gold

Photo by Bloomberg

14th August 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Junior gold developer Bassari Resources has entered into a gold refining agreement with refiner TCA SPA for its Makabingui project, in Senegal.

“Securing a gold refining agreement with TCA puts us another step closer to fast-tracking Makabingui into production,” said Bassari MD Jozsef Patarica.

“We are advancing the next phase of detailed design of the processing plant upgrade and reviewing all development options. Maximising the use of existing infrastructure is our key to keeping the capital cost low and early gold production.”

A feasibility study estimated that the Makabingui project will require a $12-million capital investment to allow for the mining of about 171 000 oz of gold. The study indicated that the 11.9-million-tonne resource, grading 2.6 g/t gold, could deliver 50 000 oz/y of gold over a three-and-a-half-year mine life.

Patarica said on Thursday that the company was looking forward to working with TCA, given that firm’s experience and proven track record.

Edited by Creamer Media Reporter

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