Mining

Burkina Faso: Bomboré mine to produce over 1 million ounces of Gold over 13 years (study)

Wednesday, 11 July 2018 15:35

(Ecofin Agency) - Canadian Orezone Gold published this week results of an updated independent Feasibility Study for its Bomboré gold mine in Burkina Faso. The study revealed that the project would generate a total of 1,024,239 oz of gold over a 13-year lifespan, with an average annual production of 102,613 over the first 7 years.

Initial project construction cost is estimated at $143.7 million and works are expected to last 24 months including 6 months for resettlement activities that will allow the commencement of construction works set for Q2, 2019. Entry into production is scheduled for 2020.

Moreover, net present after-tax value is now estimated at $224.5 million and the internal return rate at 42% with a 1.7-year payback period. The project's sustaining capital over the mine’s life is estimated at $58.9 million. 

“The robust FS results clearly demonstrate that Bomboré is a compelling project […]. Bomboré is one of the largest and most advanced undeveloped gold deposits in the region and has a very large free-milling sulphide […],” said CEO Patrick Downey (photo).

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