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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
- Copper Bonanza interval of 1.00 m @ 14.21% CuEq. · Mineralization in the South Zone remains open at depth as well as to the South and East GEORGE TOWN CAYMAN ISLANDS, January 13, 2021 - Mineral and Financial Investments Limited (LSE-AIM: MAFL) ( M&FI or the Company ) is very pleased to announce that Redcorp Empreedimentos Mineiros Lda. (Redcorp), M&FI s 75% owned subsidiary, has received results from the first three holes of a seven hole drill program. The program is funded and guided by Ascendant Resources (Ascendant), which owns 25% of Redcorp, as part of Ascendant s previously announced earn-in agreement with Mineral and Financial (please refer to RNS of August 1, 2018 which has been amended see announcement dated 1 July 2020).