Low cost new minesTwo companies in Mali are developing very low cost mines right. Both mines are 2-300km south of the Merrex property.
Robex Nampala: 45,000 oz annually for $25-30million capex
Hummingbird Yanfoloa: 80,000 oz annually for $52million initial capex, about $70million over the life of the project.
Neither project has big 43-101 resources/reserves but continue to drill to expand the resource. Both are coming in quite low cost, I think Hummingbird is around $500/oz. cash cost.
No doubt that Diakha/Boto/Farita/Siribaya could be mined at a much faster pace for similar capex costs. With IMG producing around 800k oz/year, this area could easily become a "game changer" for IMG with an easy 100-150k oz/year coming out for $100-150million(?) capex.
IMG has to be thinking along these lines right now as long as Diakha and Boto continue to produce good results.
I can't see the Merrex JV being in existence a year from now.