RE:RE:RE:RE:Gap closed Hello Yehoolamoney2, If you don't mind, in the future I will call you Y2. Also, I must specify that Kiniero is a project that is made up of 4 permits.
Semafo therefore sold this project in 2014 when the POG varied between $1,200 and $1,400 US. At that time, the entire gold sector was facing profitability issues and Semafo agreed to divest itself of the Kiniero project in Guinea, as well as Samira Hill in Niger. Kiniero was therefore sold to the Canadian company New Dawn Mining, which then closed. The project was therefore recovered by the Guinean state and then resold by tender to Sycamore. A total of 3 bids were submitted for this project.
As is always the case, the purchase of a permit also comes with commitments to the state that cedes it. For Kiniero, Sycamore had to make significant investments in order to develop this permit. As a result of respecting these commitments, the Guinean state promised Sycamore to renew the 4 operating permits. As these commitments have been respected, you can check on the Mining Cadastre of Guinea that these 4 exploitation permits were authorized in favor of Sycamore on August 4, 2020. Just search for "Sycamore" in the space provided for this purpose on
https://guinee.cadastreminier.org/en/
For Robex, the Kiniero project is doubly interesting. The first reason is that the POG is currently US$500-$700 higher than in 2014. The second reason is that there is an impressive amount of low-grade gold ore on the Kiniero project. This type of mineral corresponds perfectly to the business model and treatment process of Robex, which will be able to generate a high rate of return as demonstrated by the operation of its project in Mali.