https://www.northernminer.com/news/teranga-completes-feasibility-study-banfora/1003789334/
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Young says that while the feasibility study is “solid” it “will improve.” “This is a project that isn’t fully drilled out, so we expect the IRR to increase materially as we continue to convert resources to reserves, and we also believe that gold prices are going to move above US$1,250 per oz., which we used for this analysis,” Young says. “At today’s gold price the IRR is about 20%.”
“I think people need to think about the fact that we are building a project that we think is going to last 15 to 20 years, and the current economics are based on nine years.”"
“Our goal is to minimize equity dilution, and we’re going to try to put a plan together that does that,” he says. “We’ve received term sheets from a number of lending institutions, and we will move in to negotiate and pick a lender this fall.”
Teranga reported cash and equivalents of US$80 million at the end of June. With anticipated cash flow from Sabodala of more than US$80 million over the next two years, Teranga says it is unlikely that project financing would add more than US$150 million.