Teranga Gold Corporation T.TGZ

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Teranga Gold Announces Positive Pre-Feasibility Study Results for Top-Tier Sabodala-Massawa Gold Complex

JULY 26, 2020

 

Sabodala-Massawa

	Map of Sabodala-Massawa

 

• First 5-year average annual production of 384,000 ounces at all-in sustaining costs of $671/oz(1)(2)
• First 5-year average net cash flow of $215 million per year at $1,600/oz gold*
• First 5-year total net cash flow of $1.1 billion at $1,600/oz gold*
• Proven and probable reserves increase 120% to 4.8 million ounces at $1,250/oz gold
• Mining activities at Massawa now underway
• $10-million exploration and drill program is ongoing at Massawa

Company-Wide

• Proven and probable reserves increase by 70% to 6.4 million ounces of gold
• Average annual gold production expected to increase by 40% to ~500,000 ounces(3)