Ivanhoe Reports Positive PFS for Kamoa Copper

Ivanhoe Mines has reported positive findings from an independent prefeasibility study (PFS) for the first phase of development of the Kamoa copper project in the Democratic Republic of Congo (DRC). The project is a joint venture between Ivanhoe and Zijin Mining Group.

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Endeavour Acquiring True Gold

Endeavour Mining has agreed to acquire True Gold Mining in a friendly, all-share transaction that values True Gold at about C$226 million. Endeavour is listed on the Toronto Stock Exchange and operates four gold mines in West Africa, one each in Cote d’Ivoire, Mali, Burkina Faso and Ghana. True Gold has a 90% interest in the Karma gold mine in Burkina Faso, which was nearing production startup as of late March.

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African Gold Group Targets Kobada Project Development

African Gold Group (AGG) reported that a completed definitive feasibility study of its Kobada gold project in southwest Mali supports development of an open-pit project producing 50,000 oz/y of gold over a mine life of eight years. All-in sustaining costs are estimated at $788/oz. Proven and probable reserves in two pits total 12.7 million mt grading 1.25 g/mt gold and containing 511,000 oz of gold.

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