A word from K. Bullock Following an e-mail that I wrote today
We are looking at the staged approach as Plan B should the markets dictate how the mine should be built. Plan A is still 12,000,000 tonnes per annum. The staged approach will not be replacing our full approach but rather be in addition to as an alternative. Kiaka South is what it is. It will make a positive difference to the overall project however we never thought it would be big enough to be anything but a blend situation which is what it will be. The amount of gold at Kiaka was not deceiving, it was the Whittle parameters (mainly stripping ratio) that did not allow the pit to draw down very deep thereby reducing the amount of pit constrained ounces.
Standard Bank have been involved in the kick-off meeting for the feasibility study as well as on the update calls. Their view has not changed in the sense that they believe that the project is very solid and that debt financing is a possible, plausible solution to financing a major portion of the project. We are currently carrying out the feasibility study which will be used by the bank to decide on the parameters of the project financing. In other words no significant meaningful conversations can be had until the feasibility has moved along with some concrete information on costs.
I hope this answers your questions.
Kind regards,
Kevin
Kevin Bullock
President & Chief Executive Officer
Volta Resources Inc.
Telephone: +416-867-2299
Email: kbullock@voltaresources.com
Website: www.voltaresources.com
