Name of the Project
Blyvoor gold tailings retreatment project.

Location
Carletonville, in Gauteng, South Africa.

Project Owner/s
Blyvoor Joint Venture (JV), comprising Katoro Gold, and Blyvoor Gold Operations and its holding company, Target Mine Consulting.

Project Description
A comprehensive competent person’s report (CPR) has reported on the results and findings of additional technical and financial work conducted on project in response to the recommendations and findings of the Blyvoor scoping study announced in March 2021.

The project entails the construction, commis­sioning and operation of a mining and processing facility capable of processing 500 000 t a month of tailings material, at an average life-of-mine (LoM) gold grade of 0.29 g/t and confirmed recovery of 51%, before incorporating recovery gains from the latest metallurgical optimisation tests.

The optimisation results have indicated that over­all recoveries of up to 60% can be achieved by milling the coarser fraction (+75 µm) of the feedstock, which comprises about 30% of the total run-of-mine.

The CPR comprises an advanced prefeasibility study, a South African Mineral Reporting Codes-compliant reserve and resource statement, and a South African Mineral Asset Valuation report for the Blyvoor tailings storage facilities (TSFs) 1, 6 and 7, and Doornfontein TSFs 1, 2 and 3 gold tailings storage facilities.

The project comprises a total resource of 1.41-million ounces gold, of which 500 000 oz is in the measured category, 368 000 oz in indicated category and 542 000 oz in the inferred category.

TSFs 6 and 7 have been upgraded to probable reserve status, containing 424 000 oz gold and 392 000 oz gold respectively.

The project estimates overall production of 675 842 oz over a 25-year LoM.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The CPR estimates an unlevered net present value, at a 7.9% discount rate, of $114-million and an internal rate of return of 33% at an aver­age gold price of $1610/oz, and a return on invest­ment of 64%.

Capital Expenditure
Total capital costs are estimated at $162-million, with a peak funding requirement of $69-million.

Planned Start/End Date
Not stated.

Latest Developments
Katoro expects to complete investor and lender agreement negotiations and conclude final funding arrangements for the project in the latter part of 2021.

The appointment of an engineering, procurement and construction contractor and operator is subject to successful funding being arranged.

Key Contracts, Suppliers and Consultants
Minxcon (scoping study).

Contact Details for Project Information
Katoro Gold, email info@katorogold.com.