Taking a mine to production is not an easy feat. With depressed conditions in the mining sector in recent years, it has become especially challenging. So when a company announces it is preparing to construct a second mine, that’s big news.
That’s the news being reported last week by Teranga Gold Corporation (TSX: TGZ, OTCQB: TGCDF, ASX: TGZ, Forum). On September 7, 2017; the Company released a much-awaited Feasibility Study on its Banfora Project. Teranga’s operations are based in West Africa, a region currently producing many gold discoveries.
The Company’s flagship project is its Sabodala Gold Mine, located in Senegal. Sabodala is expected to generate $80 million in cash flow over the next two years, and a total of $230 million over the next five years. This puts Teranga in a solid position to fund development and construction of the Banfora Project – which has an estimated price tag of $232 million.
The Banfora Project is based in Burkina Faso, another West African nation. Burkina Faso boasts ten discoveries of 3 million ounces of gold or more in recent years. Banfora is reporting initial gold reserves of 1.2 million ounces. However, the Company is presently engaged in infill drilling, and expects to produce an updated reserves estimate in the first half of 2018.
Stockhouse recently caught up with Teranga’s CEO, Richard Young, to get the latest news on the Banfora Project as well as an update on overall operations.
FULL DISCLOSURE: Teranga Gold Corp. is a paid client of Stockhouse Publishing.
Mid-Year Gold & Energy Update: July 15, 2024
Full Report: The Future of Energy
Thematic Insights - The Future of Energy
Stock market close - March 20, 2024
Stock market close - Mar 19, 2024
Stockhouse: March 15 2024 Stock Market Close
Thematic Insights: Why gold is a best-buy for investors in early 2024
Stockhouse Market Close - Mar 13, 2024
Stockhouse Market Close Mar 12, 2024
Thematic Insights: Gold (March 2024)
Stockhouse Market Close- Mar 6, 2024
Stockhouse Market Close Podcast - Feb 29, 2024
SKRR Exploration and F3 Uranium Interview
This Early-Stage Exploration Company is Ready to Dominate the EV Space
How a Canadian-based Helium Company is Meeting Demand in the High-tech Market
A Dual Threat Gold & Silver Opportunity in BC’s Prolific Cariboo Mining Region
Bioasis Technologies: A Very BIG Year in Review
Mining Exploration in the Presence of Giants, in the Heart of the Golden Triangle
The SUPER-State Cannabis Company that’s on the Move
Interview with Mark Selby, CEO of Canada Nickel Co.
Create your
podcast in
minutes
It is Free
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast