Africa Snapshot: Eight companies with promising projects
Be it gold, copper, cobalt or uranium, the African continent has powerful resources for mining. And there are several industry-friendly governments that are ready to secure their futures with new projects.
African Gold Group
African Gold Group (TSXV: AGG; US-OTC: AGGFF) has set its sights on building Africa’s next mid-tier gold producer. A definitive feasibility study was filed in July 2020 for its 100%-owned Kobada gold project in Mali. Developing the project would require a capital expenditure of $125 million, plus an $11 million contingency.
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The study forecast the post-tax net present value at a 5% discount rate would be C$266 million with an internal rate of return of 41.1% at a gold price of $1,530 per ounce. The mine would produce 100,000 oz. gold per year for the first five years and a total of 728,654 oz. over a 9.4-year mine life. Over the life of the mine, all-in
Burkina-faso
Niger
Grootfontein
Otjozondjupa
Namibia
China
Tanzania
Otjiwarongo
Omaheke
Boungou
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Ethiopia
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Interview: Endeavour’s CEO Sebastien de Montessus on M&A, the “magic box” and creating a Top Ten gold miner
A pit at Endeavour Mining’s Ity gold mine in Côte d’Ivoire. Credit: Endeavour Mining.
Endeavour Mining (TSX: EDV; US-OTC: EDVMF) has become a Top Ten global gold producer since announcing two major acquisitions last year – Semafo and Teranga Gold. It is now the largest gold producer in West Africa with a production base across six mines in three countries, and has the largest exploration portfolio in the region, with a development pipeline of six greenfield projects. Last year Endeavour produced 908,000 oz. gold, up 39% year-on-year, at all-in sustaining costs of US$860 per ounce, and announced its first-ever dividend. In less than 18 months it also reduced its net debt position by over US$660 million, ending 2020 with a cash position of US$70 million. This year the company’s priority is to unlock value organically through mine life extensions
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Australia
Hounde
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Egypt
Sudan
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