Turn key28 Aug 2019 10:19
Nayega looks like a turn key project there seems a lot of negativity here one single RNS could start the ball rolling.
85% interest in Société Générale des Mines SARL (SGM), which has applied to convert 1,397Ha of the Naki-Est and Borgou ExplorationPermits to an ExploitationPermit ? 193 exploration pits were dug in three phases for a 767.49m cumulative total depth, resulting in a JORC Compliant Mineral Resourceof 13.97Mt @ 12.4% Mn andOre Reserveof 8.48Mt @ 14.0% Mn ? Bulk sample to produce 10,000t of manganese ore completed in April 2019, validating the Bankable Feasibility Study (BFS) that was updatedin February2019 ? Proven logistics amenable to transporting bulk manganese; Lomé is the only deep water port in the region and the “Togo Corridor” is seen as the main artery for imports into Burkina Faso, Niger and Mali. Cheaper backloading rates reduce logistics costs significantly
Infrastructure includes a mobile screening unit, 20tph scrubber plant, 6,000m3 lined water storage facility and borehole supply system capable of producing 20m3/hr (including six community off-takes on 6km pipeline) ? Administrative infrastructure including offices, change-house, stores and workshop ? Installed infrastructure has the capacity to produce ~6,500tpm of ~38% Mn without any additional Capex ? Once the Exploitation Permit has been awarded, an expansion of the existing infrastructure is proposed and will be implemented increasing the current capacity of 6,5ktpm to 13ktpm requiring an additional capital injection of $1.02m (incl. 10% contingency) ? Life of mine (LOM) is currently 16 years, however, with ongoing exploration on the Ogaro anomaly, this is expected to increase by a minimum of additional 5 years ? Mn ore quality is suitable for producing Silicomanganese (SiMn), not Ferromanganese (FeMn) – largely due to low Mn/Phos ratio, high SiO2 content and a low Mn/Fe rati