RE:RE:RE:Joke of the dayjdn55 wrote: Tgfn "a few more ozs???" Suggest you d o some more DD. 43-101 resource is 2MM oz + and kobada zone 1 is wide open alongside strike and depth and there are known satellite zones of mineralisation that have not been drilled out. Kobada has well north of 5MM ozs and will eventually be a 200 oz + per year producer.
Pump, pump, pump, pump harder...... maybe people will believe you..... LOL....
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Childish, childish, childish, childish...... Dumb dumb dunb dumb..... to pump like this when an official BFS has said otherwise.
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It all depends on what kind of glasses you're wearing..... read the BFS carefully..... don't let the rosy glasses impair you?!
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Here's an excerpt from the latest OFFICIAL BFS released on Feb 3, 2016. Where does it mention 5MM+ mineral resource (M+I+I) like JDN pumped??? It's only 500K P+P mineral reserve, for god's sakes?!! Even only 2MM oz (M+I+I) is mentioned in this BFS..... AND for the BFS considers the Oxide part of the M+I+I resource to be about 900K oz only?!
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Had AGG have a 5MM ozs of Au in the M+I categories (forget Inferred) or a 2MM in the P+P category like others, AGG would have been traded at a much higher sp today to give it a much higher Cap Ex?!
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By the way, as JDN always likes talking about FACTS, this official BFS is FACT, which he conveniently forgets....... What JDN said about the 5MM oz is fiction?! Only after 5MM oz is proven in an official BFS, it remains as pumpers' dream?!!!
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Now, I am not bashing..... I just mentioned what is in the official BFS...... If ts9222 and JDN & Company even consider this is bashing..... then the official BFS itself is bashing its own project too..... LOL.....
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African Gold Group releases NI 43-101 Kobada FS
2016-02-03 09:41 ET - News Release
Mr. Declan Franzmann reports
AFRICAN GOLD GROUP, INC. DEFINITIVE FEASIBILITY STUDY FOR KOBADA GOLD PROJECT GENERATES ROBUST ECONOMIC OUTCOME
African Gold Group Inc. has completed a definitive feasibility study for the Kobada gold project (all amounts are in U.S. dollars). The study demonstrates the robust nature of the project, with an all-in sustaining cost of $788 per ounce, and free cash flow of $122-million net of all capital expenditure, operating costs, royalties and taxation in Mali, at a gold price of $1,200 per ounce.
The feasibility study establishes the maiden mineral reserve for the project, containing 511,000 ounces of gold within two oxide open pits. A body of comprehensive testwork, undertaken as part of the study, confirms the project's processing methodology and confirms the robust economic parameters established in the preliminary economic assessment, published Dec. 23, 2014.
The company plans to use the definitive feasibility study to support financing initiatives for the development of the Kobada gold project.
Feasibility study highlights:
- Feasibility study contemplated a mining and processing operation treating only oxide ore types;
- Proved and probable reserve of 12.7 million tonnes at 1.25 grams per tonne gold, containing 511,000 ounces of gold;
- Mining and processing supports gold production exceeding 50,000 ounces per annum over an eight-year mine life;
- Average cash costs of $557 per ounce of gold produced;
- All-in sustaining cost of $788 per ounce produced;
- Total cash flow of $122-million net of all costs, royalties and taxes at a gold price of $1,200 per ounce;
- Net present value at 5-per-cent discount rate (NPV5) of $86-million;
- Internal rate of return of 43 per cent.
Mineral resource and reserve estimate
The mineral resource estimate was announced on Nov. 19, 2015. The total measured and indicated mineral resource contained 1,215,000 ounces of gold. The inferred mineral resource contained 1,024,000 ounces of gold. The feasibility study only considers the processing of oxide ore types and the table provides a breakdown of the oxide ore component of the mineral resource above a cut-off grade of 0.3 g/t.
OXIDE MINERAL RESOURCE Mineral resource category Tonnes Au Au (M) (g/t) (koz) Measured and indicated 18.1 1.1 622 Inferred 10.3 0.9 290 Resource is quoted above 0.3 g/t Au cut-off grade.
The proved and probable mineral reserve was estimated to be 12.7 million tonnes at 1.25 g/t gold containing 511,000 ounces of gold. The reserve was reported within the optimized pit design and above a cut-off grade of 0.53 g/t Au. The final pit physical characteristics are summarized in the table.
MINERAL RESERVE STATEMENT Reserve Ore Au Contained Waste Strip Total Total category tonnes grade Au tonnes ratio material material (M) (g/t) (koz) (M) (w:o) (Mt) (MBCM) Proved 5.7 1.22 225 Probable 7.0 1.27 286 Total 12.7 1.25 511 41.8 3.28 54.5 26.8
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