African gold miner Randgold on Thursday reported a 53 percent rise in half-year profit and a mounting cash pile, and said it was well on the way to developing projects that will position it for an eventual increase in demand.
Burkina Faso Mining News
The Rakounga Gold concession is a 250 sq km property contiguous to the company's 2nd gold project — Bouboulou.
IAMGOLD (TSX:IMG) is taking a further step towards diversifying its power needs into renewable energy, with a plan to install at 15-megawatt-peak (MWp) solar power plant at its Essakane mine in Burkina Faso.
The company's mission includes a commitment to ensure communities are better off as a result of its presence.
A drill program at the mine's North Kao deposit has added 262,000 ounces to the reserves, extending Karma's life to more than 10 years.
The company, which earlier this month revealed is in merger talks with African gold producer Acacia Mining, expects to produce between 600,000 and 640,000 ounces of the precious metal this year.
Year to date, the company has produced 408,000 ounces of gold from its five mines in Mali, Côte d’Ivoire, and Ghana, which represents a 8% increase compared to the same period in 2015.
Vincent Benoit will assume the newly created position of Executive Vice President, Chief Financial Officer and Corporate Development effective November 1.
After a difficult first half, Nord Gold's now set up for over 1.2moz per year after start-up at Bouly mine in West Africa and major Russian development.
Montreal-based producer expects to produce more than 400,000 ounces by 2019.
The Ity mine has produced more than 1.2 million ounces of gold in its over 20 years of operations and Endeavour is working on extending the mine life by at least another 10 years.
Gold output reaches 35,753 ounces at an average mill feed grade of an eye-watering 15.44 g/t gold at the Burkina Faso mine entering commercial production.
Once the open pit Houndé mine is operational, Endeavour will add 190,000 ounces to its gold output per year.
B2Gold’s stock has gained almost 229% so far this year.
The Company issued a total of 7,187,500 ordinary shares in the capital of Endeavour ("Shares") at a price of C$20.00 per Share, which includes the exercise of the underwriters’ over-allotment option in full, for aggregate gross proceeds of C$143.75 million (the "Offering").
Shares in Toronto junior up sharply after adding 220,000oz to ultra high-grade Yaramoko project in West Africa expected to pour first gold in June.
The Hounde project, in Burkina Faso, is forecast to produce about 1.9 million ounces of gold over a 10-year mine life.
The Cdn$240 million deal is expected to close in late April.
Endeavour has sold its Youga mine to privately-held MNG Gold for US$25.3 million.
It said the move reduces its administrative, compliance and legal expenses, which could no longer be justified given the low levels of trading on the ASX relative to Endeavour’s TSX listing.
Shares in Montreal-based producer jump after strong operational results at its Burkina Faso gold mine, progress on feasibility for flagship project.
Shares in fast-growing producer surge after drill results at Cote d'Ivoire "free dig" mine provide extensions of oxide mineralization and fresh resources.
True Gold Mining's low cost Karma project in West Africa is ahead of schedule.
The Vancouver-based miner has sold 30% of the company to La Mancha Holding in a deal that will grant it a majority stake in the massive Ity gold mine, in Côte d’Ivoire.
$110 million super-high grade Yaramoko gold project now 36% complete and on track for start-up mid–2016.