Mali: Altus Strategies Announces Increase In Resources For The Diba Gold Project

Gold resources from the Diba project in Mali have increased, now totaling more than 400,000 ounces in the indicated and inferred categories. This is what Altus Strategies, the asset holder, said on Monday, adding that these figures will soon be improved thanks to new drilling.

In Mali, the mining company Altus Strategies released a new resource estimate for the Diba gold project on Monday. Made by the engineering company Mining Plus as part of the prefeasibility study for the project, this update indicates a 637% increase in resources classified as "inferred".

The latter went from 32,500 ounces of gold to 5.4 million tonnes of resources grading 1.06 g / t of gold, or 187,000 ounces. At the same time, resources classified in the "indicated" category are now 4.8 million tonnes grading 1.39 g / t gold, or 217,000 ounces.

"There is significant exploration potential for new discoveries at Diba, with seven priority prospects still to be systematically tested by drilli…

DRC: AVZ Minerals publishes a solid definitive feasibility study for its Manono lithium project

In the DRC, the mining company AVZ Minerals released the results of the final feasibility study (DFS) on Tuesday for its Manono lithium and tin project. According to the study, the project could produce 700,000 tonnes of spodumene concentrate (SC6) and 45,375 tonnes of primary lithium sulfates annually over a 20-year lifespan.
DRC: AVZ Minerals publishes a solid definitive feasibility study for its Manono lithium project

It will take an investment of $ 545.5 million to develop the project, which includes, apart from the mine and the processing plant, the modernization of road infrastructure for transporting production and the rehabilitation of the Mpiana hydroelectric plant. Mwanga. The recovery period for this capital is estimated at 1.5 years (before tax) and 2.25 years (after tax).

The project is also expected to generate annual EBITDA of $ 380 million over the life of the mine with an internal rate of return of 33% and an estimated net present value of $ 1.03 billion (after tax). It should be noted that these various figures are drawn up on the scenario of a 100% participation in the project, while the company currently holds only 60% of interests which it can bring to 65%.

As a reminder, Manono is the largest hard rock lithium deposit in the world with an ore reserve of 44.6 million tonnes in the “proven” category and 48.5 million in the “probable” category. The project is also expected to produce small quantities of tin and tantalum.