An over-allotment of 15% has been granted to the brokers, led by SCP Useful resource Finance. It’s exercisable as much as 30 days after closing.
The Kiniero gold venture was acquired by Robex in 2022 as a part of the enterprise mixture with Sycamore Mining. The 470-sq.-km. property consists of each the Kiniero venture and the adjoining Mansounia exploration licences.
The mine operated from 2022 to 2014, producing a complete of 418,000 oz. gold for the earlier proprietor.
Work to restart the standard open pit mine started in 2022, and Robex revealed a feasibility examine in June 2023. Present mining infrastructure can be refurbished and expanded as wanted, however minimal extra building is required.
Preliminary capital prices had been estimated at C$160 million to supply 851,000 oz. over a 9.5-year life. The all-in sustaining value per ounce is $980. The processing plant will use each gravity and carbon-in-leach restoration. An up to date examine is to be launched in September 2024.
Robex has additionally commenced an intensive drilling program on the quite a few deposits recognized on the Mansounia leases. Drilling density at depth and alongside the recognized lateral extensions is a precedence.