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 African Business Network 181
“We are fully funded and that is a major step forward from where we were last year.” Daniel Betts, MD
However, with contract mining comes a signi cantly reduced capital expenditure. It is likely that the mining  eet will total around $100 million, almost doubling the project’s capex spend, that  gure has to be traded o  against an AISC saving of around $100/oz.
Betts says the grade at Yanfolila puts the project in a strong position, “Even with a contract miner our AISC is still $700/oz so we can carry it. Whereas if I had come to market and said the capex was $200 million instead of $88 million, the market would have said we couldn’t raise that. We wouldn’t have got the project built.”
While the foundations are in place for construction at Yanfolila there is still a huge amount of work to get through before reaching Betts’ target of  rst gold production by December 2017. The concrete has been poured for the plant, the mill and the gold room and the terraces for the power have been installed. The next steps involve completing all the steel and piping work, bringing the reagents on site, electrifying the plant and then move into commissioning.

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