Resolute Mining published yesterday July 3, an updated Definitive Feasibility Study (DFS) for its Syama underground gold mine in Mali. The mine’s life increased to 2032 from 2028 previously announced.

According to new results, the project is expected to generate 2.697 million ounces of gold considering the probable reserves of 35.2 million tons at 2.7 g/t gold. By extending operations from 4 to 16 years, the company should further cut the production cost per ounce of gold which is now estimated at $746 (from $881 previously).

“Our ambition at Syama is to transform this world class gold deposit into a world class gold mine. The updated DFS numbers capture the progress we have made in exploration, automation, and power,” said CEO John Welborn (photo).

Let’s note that Resolute Mining Ltd is one of the largest gold producing companies listed on the Australian Stock Exchange, ASX.

Louis-Nino Kansoun