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According to the company’s statement, based on a gold price of $1,650/oz, the pre-tax net present value with a 5% discount rate is $199 million while the NPV5% post-tax amounts to $114 million, whereas the internal rate of return is expected to be 49% on a pre-tax basis and 31% on a post-tax basis.
Mining activities at Kiniero will utilise conventional open-pit mining methods. Ore from the Kiniero gold project will be processed on-site. The gold will be recovered in a beneficiation 3Mtpa plant that has been designed to process a blend of oxide, laterite, transition, and fresh ores from various ore deposits within the field.
Kiniero is located in eastern Guinea in the Kouroussa Prefecture. It is situated approximately 27km southeast of the town of Kouroussa, 55km west northwest of the provincial centre of Kankan and a distance 546km from Conakry, the capital of Guinea. The project is located 422km from Bamako, the capital of Mali.