Investment in Mali21 Aug 2023 16:13
Mining royalty investor Trident Royalties announced the acquisition of a 50% interest in a 2% net smelter royalty over the Dandoko Gold Project in western Mali on Monday.
The AIM-traded firm said the project is owned by B2Gold Corporation - a mining conglomerate listed on TSX and NYSE, with a market capitalisation nearing $3.9bn.
It described Dandoko as a promising exploration area with the potential for near-term production.
Dandoko was previously the lead asset of Oklo Resources - an ASX-listed company, which B2Gold acquired in September last year for AUD 91.3m (£45.89m).
In terms of location, Trident said Dandoko enjoys proximity benefits, situated 25 kilometres away from B2Gold's operational Fekola Mill.
The board said the Fekola Mill is B2Gold's most substantial asset, with production targets set between 580,000 and 610,000 ounces, at a cash cost ranging from $565 to $625 per ounce for the 2023 fiscal year.