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Boto gold project, Senegal

23rd November 2018

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Boto gold project.

Location
Senegal.

Client
Iamgold Corporation.

Project Description
The project has proven and probable reserves of 1.93-million ounces grading 1.71 g/t gold.

A feasibility study has confirmed the preferred development approach to be a conventional truck-and-shovel openpit mining operation, with a mineral processing circuit incorporating primary crushing, grinding, and cyanide leaching, followed by gold recovery using carbon-in-pulp, stripping and electrowinning.

Openpit mining includes about 14-million tonnes of waste stripping and two-million tonnes of ore stockpiling in preproduction mining during a 15-month preproduction period, followed by 12.8 years of production mining along with stockpile reclaim. Mining capacity is estimated at 18.2-million tonnes a year and mill throughput at 2.75-million tonnes a year.

The maximum mining rate is estimated at 33-million tonnes a year. Life-of-mine average production is forecast at 140 000 oz/y aver-aging 160 000 oz/y during the first six years.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 6% discount rate, of $261-million and an internal rate of return of 23%, with a payback of 3.4 years.

Value
Initial capital expenditure is estimated at $254-million.

Duration
Not stated.

Latest Developments
The feasibility study will be used to support an application for a mining concession to be submitted in the fourth quarter of 2018, with approval expected in the first half of 2019. In the interim, the project team will continue to optimise aspects of the project design and complete an infrastructure condemnation drilling programme.

Key Contracts and Suppliers
Lycopodium Minerals Canada (feasibility study).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Iamgold Corporation VP investor relations Ken Chernin, tel +1 416360 4743 or email info@iamgold.com.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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