Yanfolila gold project, Mali
Name and Location
Yanfolila gold project, Mali.
Client
Hummingbird Resources.
Project Description
The project has an indicated and inferred mineral resource of 20.1-million tonnes, grading 2.8 g/t.
The initial Yanfolila mine plan was expanded in the recent optimisation study, which highlighted robust economics for a one-million-tonne-a-year, low-cost, high-grade gold project and the defined path to production.
The study reconfirmed that the mine is capable of turning a profit in a varying gold-price environment.
The project has a 6.5-year life-of-mine production at 79 000 oz/y of gold production.
Net Present Value/Internal Rate of Return
The project has a net present value, an 8% discount rate, of $72.4-million and an internal rate of return of 35.1% at
$1 250/oz of gold.
Value
$71.6-million.
The project will be funded by the $75-million agreement with Taurus Funds Management Mining Finance Fund and funds from a recent $9.5-million fundraise.
Duration
Construction of the plant is expected to start in the first half of this year, with first gold production expected in the first half of 2016.
Latest Developments
The construction of the mine is expected to start shortly.
Mobilisation started in April and earthworks were expected to start before the end of the same month.
Long-lead items that have been ordered ahead of production include a ball mill, a mineral sizer, a tower crane and carbon-in-leach tanks.
A letter of intent has been signed with Société de Forage et de Travaux Publics to start plant earthworks.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Hummingbird Resources, tel +44 20 3416 3560.
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