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It has been announced that an extraordinary meeting of Ecowas will be held in Accra on 4th June. Will it be announced that an agreement has been reached, and sanctions against Mali will be ( gradually) lifted.? The Togolese president Faure Gnassingbe has been very actively mediating in the past weeks.
Bunker Hill Mining (CSE: BNKR) announced two days ago a preliminary economic assessment for its Bunker Hill Mine in Idaho’s Silver Valley, USA. The company said that the PEA contemplates a $42 million initial capital cost to rapidly restart the mine, generating approximately $20 million of annual average free cash flow over a 10-year mine life, and producing over 550 million pounds of zinc, 290 million pounds of lead, and 7 million ounces of silver at all-in sustaining costs of $0.65 per payable pound of zinc. Sam Ash, CEO of Bunker Hill, stated: “Our PEA confirms that by maximizing the use of existing resources, partnerships and infrastructure, the Bunker Hill Mine has the potential to be re-started rapidly as a low-cost, long life, sustainable operation. Pleasingly for our investors, the robust financial returns in the PEA, including a $101 million NPV, 46% IRR, and 2.5 year payback, do not include the significant upside to come from the on-going high-grade silver exploration which we expect to further increase cash flow margins. Based an annual average free cash flow of $20 million at metal prices below spot levels, we can self-fund these exploration efforts while continuing to grow the company. We look forward to progressing further technical studies and project finance discussions over the coming months.”
AFP reported this :
Two people died in a clash between security forces and out-of-work gold miners who ransacked a town in eastern Guinea, a hospital director said Sunday.
Trouble erupted Saturday in Kouroussa, 500 kilometres (300 miles) from the capital Conakry, where the protesting miners accuse the authorities of selling off their local workplace.
“Two dead, it’s confirmed. The bodies are here in the morgue,” the town’s hospital director Maurice Beavogui said, adding that an unknown number of people had also been hurt.
For Manfila Keita, a spokesman for the demonstrators, the miners have little choice.
“We are from here. We don’t have anywhere else to go,” he said.
“We have no work. Our only income to meet our needs comes from this mine that the authorities have taken off us to sell to a company from Burkina Faso which is not even registered,” he added.
Another demonstrator, who asked not to be named, added: “It’s a question of life or death. Our mine or Kouroussa is wiped off the map.”
The protesters “smashed everything, the prefect’s residence, the mayor’s and so many other buildings have been pillaged or vandalised,” a security source in Kouroussa told AFP.
“Stones have been thrown at many official vehicles and those belonging to individuals, some have been set ablaze.
“It was total anarchy,” he added.
Prefect Souleymane Keita told AFP by telephone that a “precarious calm” had settled on the area Sunday.
“I lost everything in a flash,” the senior administrator said.
“Everything has been taken, even the kitchen utensils. Nothing was spared. Today Kouroussa is like a ghost town.”
The prefect would not answer questions about the sale of the mine.
The West African country boasts significant mineral resources from diamonds to gold, bauxite and iron ore, but many people face poverty, particularly in rural areas.