Asante Gold (TSXV: ASE), a pure gold exploration and growth firm, has outlined plans to fast-track its newly added, past-producing Bibiani gold mine in Ghana into manufacturing.
The Vancouver-based firm, which completed the acquisition of Bibiani from Australia’s Resolute Mining (ASX: RSG; LSE: RSG) in mid-August, stated native firm Harlequin Worldwide had already kicked off the revamp of the three million-tonne-per yr processing plant.
The mill refurbishment is predicted to make use of as much as 300 folks and be completed in June 2022, Asante stated.
The junior famous it was additionally engaged on design and planning initiatives for different features of the Bibiani mine growth mission.
The transfer seeks to reopen the presently halted operation, which has had a stop-start historical past and was suspended in 2013, the yr then-owner Noble Mineral Assets collapsed.
Resolute Mining acquired Bibiani in 2014 however positioned it on care and upkeep shortly after that to permit exploration actions and develop the mine right into a large-scale operation.
The asset has mining and processing infrastructure and previous manufacturing of about 4 million ounces of gold.
Based mostly on an up to date feasibility examine launched by Resolute in July 2018, Bibiani has the potential to generate about 100,000 ounces of gold per yr over a ten-year mine life at a life-of-mine all-in sustaining value of US$764 per ounce.
It additionally printed a present JORC compliant mineral useful resource of 21.7 million tonnes grading 3.6 grams gold per tonne for two.5 million ounces of contained gold.
Asante has robust ties to Ghana, with Ghanaian residents holding a major shareholding, in addition to board and government roles.
The corporate has additionally introduced plans to co-list its shares on the Ghana Inventory Alternate.
