The Kouroussa Mine is situated in the prolific Siguiri Basin in Guinea and currently has a high-grade Resources base of 1.2 Moz at 2.93 g/t and Reserves of 681 Koz at 3.85 g/t.
Significant exploration potential is known to exist at depth beneath the Project’s two key deposits, Koekoe (“KK”) and Kinkine (“KnK”), with several other high priority targets identified for further exploration and resource growth potential.
Kouroussa achieved first gold pour on 8 June, 2023 and is expected to produce an average of 120,000 to 140,000 ounces of gold for the first three years of commercial production, and average 100,000 oz per annum over the current life of mine at an AISC profile of c.US$1,000 per oz.
Kouroussa has industry leading project economics with key financial metrics at US$1,750 being:
- IRR 71%
- NPV US$210 million
- Cumulative free cash of US$314 million
- Capex payback period of approximately two years post commencement of production
Further, Environmental, Social and Governance (“ESG”) processes, initiatives and infrastructure have been imbedded into the Project design including amongst others:
- An updated environmental and social impact assessment (“ESIA”) study to ensure the Project delivers on leading ESG industry standards and the World Gold Council (“WGC”) responsible gold mining principles (“RGMPs”)
- Low carbon emission initiatives, including a +7 megawatt (“Mw”) solar power plant and energy saving waste heat recovery systems
- High level of local and in-country contractor and employee utilisation
Guinea: A major gold mining region
The Republic of Guinea (“Guinea”) is a West African coastal country, its capital city Conakry has a population of approximately 13 million people and covers an area of 245,857 sq kms. The economy is largely dependent on agriculture and mineral production. It is the world’s second largest producer of bauxite and one of the top African gold exporters with gold mines owned and operated by major international companies.
The Kouroussa gold mine is located within Guinea’s gold-rich Siguiri Basin, and stands as a cornerstone asset for our Company.
Our focus is not only to extend the Reserve profile but also to grow the Life of Mine of the operation. The Company is confident that there remains a material upside opportunity at Kouroussa and is targeting an increase of Reserves to 1.0 Moz and a 10-plus year LOM.
Strategic Focus Areas:
Our current strategy centres around near-mine opportunities, with a particular emphasis on the exploration and expansion of the Bag Farm-Junction and the high-grade X-Vein Resource base deposits. These targeted areas hold immense promise, and our near term focus is geared towards unlocking their full potential.
Key Objectives:
Reserve Expansion:
- Through focused exploration and strategic initiatives, our goal is to increase Reserves at Kouroussa to an impressive 1.0 Moz. This expansion is a testament to our confidence in the untapped wealth within the region.
Extended Life of Mine (LOM):
- We aim to secure a robust and sustainable future for Kouroussa by targeting a 10-plus year Life of Mine. This vision underscores our commitment to long-term value creation and responsible resource management.
Target | Priority | Category |
Kouroussa Gold Mine, Guinea | ||
Koekoe | 1 & 2 | Resource extension |
X-Vein | 1, 2 & 3 | Greenfields (West) and Resource upgrade (Main) |
Kinkine | 2 | Resource extension |
Bag Farm Junction | 3 | Resource upgrade |
Koekoe Underground | 3 | Resource upgrade & extension |
| KOUROUSSA, GUINEA RESOURCES | |||
|---|---|---|---|
| Deposit | kt | g/t | koz |
| Kinkine (KI) | 1,947 | 2.18 | 136.6 |
| Koekoe (KK) | 6,749 | 3.65 | 792.2 |
| Bag Farm-Junction (BFJ) | 1,743 | 1.59 | 89.0 |
| X-Vein (XV) | 354 | 7.33 | 83.0 |
| Kinkine Underground (KI U/G) | 421 | 1.75 | 23.7 |
| Koekoe Underground (KK U/G) | 1,438 | 1.96 | 90.5 |
| Total Kouroussa Resources | 12,956 | 2.93 | 1,220.50 |
- Kouroussa Resources Statement effective as 31.12.23.
- See release 02 July 2024 titled “2024 Updated Company Reserves and Resources Statements” for more details.
| KOUROUSSA, GUINEA RESERVES | |||
|---|---|---|---|
| Deposit | kt | g/t | koz |
| Kinkine (KI) | 1,327 | 2.44 | 103.9 |
| Koekoe (KK) | 4,172 | 4.31 | 577.4 |
| Total Kouroussa Reserves | 5,499 | 3.85 | 681.4 |
- Kouroussa Reserve Statement effective as 31.12.23.
- See release 02 July 2024 titled “2024 Updated Company Reserves and Resources Statements” for more details.
