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Bassari Resources Ltd.
Summary
| Project: | Makabingui | |
|---|---|---|
| Deposit: | Makabingui | |
| Location: | Senegal | |
| Commodities: | Gold | |
| Date: | 9/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 6-9-2017: Bassari Resources Ltd. announces a Feasibility Study report for its Makabingui deposit at the Makabingui project. Feasibility study results incl. pre-tax NPV (8%) US$62.2M, IRR of 188.5%. Bassari Resources Limited (ASX: BSR, or ‘the Company’) is | |
| Resources: | (Reserve, Prob.): 0.86Mt @ 5.7g/t Au for 158koz Au contained at project | |
| CP/QP: | [Overall Report]: Moussa Diba (Internal) | |
| ABSTRACT: | Bassari Resources Limited (ASX: BSR, or ‘the Company’) is pleased to announce the release of the Updated Makabingui Gold Project Bankable Feasibility Study (“BFS”) and the ramp up of pre-construction activities in Senegal, West Africa. These activities will focus on improvements to the accommodation camp and access / haul roads and the Company will commence tendering and awarding engineering and construction contracts. These activities are a result of the completion in August 2017 by Australian engineering consultants, Mincore, of the BFS for the Project based on a 300,000 tonne per annum hard rock operation from JORC 2012 Ore Reserves (ASX announcement 16 September 2014) in four high-grade open pits, having an initial mine life of 3.4 years. The updated estimate has confirmed the profitable high-grade production within the one-million-ounce gold resource. Bassari released the original Feasibility Study results in June 2014. The updated BFS demonstrates a technically and commercially feasible, low cost, highly profitable operation with significant free cash flows. Bassari Executive Chairman Alex Mackenzie said, “I am pleased to confirm the completion of a number of key milestone activities, most notably the finalisation of the Government Approvals, completion of funding terms and a successful updating of the BFS. All these combined allow the company to continue pre-construction activities with immediate effect which is a significant step in delivering shareholder value.” | |
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