Segele Scoping Study
The scoping study has focused only on the mineralization covered in the SRK mineral resource estimate (6th April 2021) allowing for an anticipated mine life of 27 months. Ongoing exploration has identified additional mineralization at depth which leaves open the opportunity to extend mine life.
The result confirms that the mineralization at Segele can be mined and processed with an estimated All In Sustaining Cost (“AISC”) of 243 USD per ounce, while the total life of mine operational expenditure, excluding royalties, is estimated at 137 USD per ounce. Total capital expenditure for setting up the mine plant to start production is estimated at 8 million USD, equaling an average of 153 USD per ounce for the current resource estimate of 52.410 ounces. This average will go down as more resources are added over time.
The scoping study indicates what the potential economics of mining the Segele deposit can look like. The study has been completed with contributions from highly respected geologists, engineers and ESG practitioners (SRK Consulting, Sazani Associates, Goshawk Network Technologies and Borrego Sun).
To find out more about our mining preparations, read the whole Scoping Study here.